The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1874-11-26
The Programme of the PIg.IrOn Men.

The Programme of the PIg.Iron Men.
The Pittsburgh Gdsttts Of yesterday
has special dispatch from Philadelphia
giving fuller account than the Asso.
cisted Press dispatch Of the proceedings
Of the pig.iron manufacturers at their
meeting in that city on Tuesday. There
were over thirty furnace companies rep
resented and there was entire harmony oI
feeling. The conference embraced full
and free expression Of views with reler-
ence to the trade, and resulted in the
unanimous adoption OF the following reso.
lutions:
ReSo!ued, That |! must be sell-evldent
to all furnace owners that the large re-
duction in the demand for consumption
ci pig iron imperatively demands cor.
responding reduction in the amount pro-
duced, and that continuance OF the pre-.
sent over production cannot fail 10 result
in accomplishing the ruin of the trade.
RGSolrCd, That it is the opinion oil this
meeting that an earnest effort ought to be
Immediately made to accomplish Il reduc-
tion Of the make OF pig iron and with
this view, a committee of seven be Gp'
pointed to devise some plan TO accomp-
lish that end.
Reso.red, That tho Chairman pro TEN,
OF the pig iron branch Of the American
Iron and Steel Association be requested
to call a meeting Of all the pig iron man.
ufacturers Of the country, at the rooms Of
the Association, on Thursday, December
10, 1878, at II o'clock, A. NJ.
In view Of the fact that the price Of pig
iron has been steadily declining since the
panic, and that during all the intervening
time there has been no prospect for proaI
in It's manufacture, the only wonder il
that some such stop as is recommend
cd was not taken long ago. The break
down OF railroad building Immediately
after the panic cut of nearly one half o
the consumption Of plg-iron, and this too
in the face OF a greatly enhanced produC-
ton Of It, and precipitated upon the mar
ket a vast surplus, underneath tho weight
of which 1t gradually sunk in prict
and still sinks. In the nature c
things there can be no Improvement
as long as this state OF things lasts
and as there is no prospect for somt
time to come Of an enhanced consumption
the only remedy is TO carry into practical e
feet tho Recommendation Of the manuIactu
rers who met al Philadelphia -viz:-to Gu
down,the production aS radically aspossi'
bic. When We stop 10 consider that rail
road building was going on in the United
States at tho rate Of six to seven thous-
and miles per annum previous to the
panic, consuming q million and a half o
tons Of iron and steel rails, and that the
whole production Of iron was less than 3,
100000 Of tons, we can have an idea ol th'
enormous consumption that has beon Gu
of by the panic, and We can easily under
stand why 1t Is that the iron industry, o
all tho industries o! the country, Is nov
the most depressed.
There are those who look forward L
the coming session of Congress for i'm
portant relief to the iron interests. Fo
instance, Washington dispatches have
stated within a day or two that Col. Ton
scorr has hopes Of consummatiDg th'
project begun last wintcr-viz-of secur
ling an endorsement o! his Pacific railroad
bonds by the government to the extent oi
say $7O,OOOOOO, in return Tor which ht
proposes to turn over to the government
as security all the land grants Of the road
and all Its completed track, machinery
rolling stock, sc, This he claims viii
. enable his syndicate 10 finish the road
. and thus not only complete great na.
:. tional enterprise but also give importan
aid to a most important industry ol TIT
Q country. Tho scheme seems to be to com
l bIne hIs lnteresls with those Of tho North
ern Pacific and thus move upon Congress