The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1874-01-23
Tho Price of Orc for the Coming
Season.

lhe NAFlOub uAke superior companies
stimulated by the extraordinary price a
which they sold their product last year
succeeded in shipping $1,1OS057 tons o
Iron ore during 1878, the largest year
business on record for the Lake Superlo
mines. In1s7S they shipped 952O55 tons
which was an immense business, but Ii
1873, Notwithstanding the panic, they ex
ceeded 1t by 1929 tons. This immens
product averaged 81 per ton at Marquett
and other shipping points, and repre-.
sented, according to the Marquette ,Iour.
nal, $S,141 ,80s 9S.
How much Of this unprecedented ship
ment Of ore has been actually delivered
10 the furnaces Of the country We have nj
means OF knowing, but there Is no doub
that very considerable amount OF II isstil
lying on the docks at Cleveland aud other
Lake ports awaiting orders for shipment
from many unfortunate and unwilling pur'
chasers. ..-
1t Is now drawing near the time fol
new contracts for supplies during the
coming season. We infer from what Is
said on the subject that the various ore
companies would be quite willing to en-.
ter into satisfactory arrangements with
the furnaces for 1874 deliveries. Up to
this time, however, no price has been
fixed, or named even, by either party.
The furnace people are in no hurry
whatever to contract; their wounds are
not yet healed; they are generally pretty
sore over the results Of last years busi-
ness. They feel, in fact, like letting the ore
business take care of itselfthis year. We
presume. therefore, that all talk about
price is a mere matter Of talk up to this
time, although 1t is said that the CON-
panies seriously contemplate asking $40
per ton at Cleveland for first:class Spec
ular ore and proportionate price for
Magnetics and Hematites. We under
stand that Speculars are offered for
immediate delivery at 80 per ton.
We also learn that in order to in
duce parties to contract for 1874 propo.
sitions are made 10 enter orders and
leave the matter of price to be estab.
lished hereafter by the market rate,
whatever that may be. If furnace men
fall in with this sortofs proposition there
will be no great difficulty in fixing price
quite satisfactory to the orc companies.
So far as this immediate vicinity is con.
cerned the furnaces that are in operation
have all the ore they need for some months
to come. They are certainly in no hurry
to enter into new engagements. Beside,
they are looking to the Missouri ores for
at least part of their supply. We un-
deisIand that the Iron Mountain Co.
have fixed their price at s. at Caronde-
let, o reduction of 50 per ton from last
year, and an advance of $9 so per ton over
1872. This price does not make spe-
cially favorable impression on consumers
here. There is disposition not to TALL
down. and worship the Iron Mountain
Co. this year. No doubt The same feel
ing exists at Pittsburgh and elsewhere.
And even aside from such a feeling, prac-
tical people like furnace men can easily
enough understand that with iron at $50
per ton there is no inducement to contract
Tor Missouri ores at IS, equivalent to say
$l4 at Wheeling, or Lake Superior ores
at $lOsequivalent to $12 so al Wheeling.
The furnaces have certainly no disposition
to do business for the benefit Of the ore
companies this year, and unless we mis-.
take the feeling among them they will
try and guard this point pretty securely
this time. There will be meeting of the
Iron and Steel Association in Pittsburgh
next week, at which VIC shall perhaps
have an expression Of feeling on this sub.
ject and gain some light as to the probable
future OF both the iron and ore market
that is not as yet available.