The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1875-12-30

The Present Condition and Flu.
ture Prospects Of the Iron
Trade.
LFmm the n. Y, THbune.l
There appears to be no change for the
better in the condition OF the iron trade.
A large proportion Of the furnaces and
mills throughout the country remain
idle, and few Of the manufacturers who
have had the courage TO stand up against
the pressure Of the hard times and run
their works find balance on the profit
side Of their books, now that they have
come to figure up the rSsplts OF the years
business. II they have earned running
expenses they count themselves fortunate,
The hopes entertained last Summer Of a
revival Of trade in the Fall have proved
Elusive and the disappointed ironmasters
tired Of looking forward from Spring
to Fall and from Fall to Spring for the
long delayed renewal Of activity, begin to
fear that there ia nothing in store foF
them next year, and to cease to peer into
the future for encouraging signs, The
depression is felt in all the iron produc'
ing districts to nearly equal degree
The new industries OF Alabama and Ten
ncssce suffer as severely as the old Gstab
lishments OF Pennsylvania. In Missouri
and Illinois there is said TO be little
more doing, but not enough to make q
noteworthy exception to the prevailing
rule. No upward turn in prices has oc
CURED. The market continues weak ant
is oppressed by the large stocks at thu
furnaces or in the hands OF dealers, W.
hear OF recent sales OF pig metal at thC
lowest figure known for the past twent!
years.
1t is cold comfort when a man is sick Il
tell him that all his neighbors are dow
with the same disease; and yet it may
console him somewhat to reflect that III
was no more careless than the rest OF thu
community, and is not therefore punish
ed for an exceptional transgressiOn oil ma
lures laws. Our iron men have the con
ISOLATION, such rs il is, Of knowing that !
they sinned against the laws Of trade By
ovcr-produCing and by too great in
crease Of manufacturing facilities, theil
rivals Ia England, Scotland and Belgium
did the same thing and are suffering thu
same effects. The iron trade in EuropI
is as flat as it Is in the United States, ant
Just us hopeless Of an earl recuperation
Is there any remedy for this state Of
things2 Patient waiting will in the enC
bring about u cure. There are too many
furnaces and rolling mills in the country
but the time will comG-and 1t Is mol
very far off, we think, when there will
be work for all Of them. A vigoroul
young country like ours never stand
still long. ltstOps now and then TO TAXI
breath, but il starts on again with re
newed energy, lis breNthing.spells may
last two or three years, but in the lille o
u nation year Is only Il minute IN thu
shorter space Of human existence, Be
fore the close Of the century our forty
million oil inhabitants will have increased
to sixty millions. For the added twent,
millions there must be thousands Of mile.
of railroads built, thousands Of iroI
bridges, thousands OF iron ships, hun
drcds OF thousands OF dwellings
shops, and stores, all consuming
iron in its countless forms. Espe
cially 1t is to be noted as u fact full
OF hope for the future that the use Of iror
in architecture Is Ms yet only in its infan
Cy. But for the present, our manufaCtu
rers have outrun the needs Of the COun'
try, Production Outstrips consumption
They mistook the spasmOdic business nc
lively that preceded the panic Of 1873 fol
healthful, persistent energy. Many nov
look despairiugly upon their tireless fur
mace stacks, and others regarded with nc
more cheerful feelings the fast aCcumu
lating piles Of metal unsOld, and unsal
able at remunerative prices. They mus
learn the lesson of patient waiting, Til,
steadily increasing wants Of our growing
population will soon make better mar
kci Demand must one day overtakC
supply, and when ii does II will be (
steady, sure dcmand-not born OF vici
Gus, currency, Of n mania forspeculation
or Of the building into Western wilder
nesses Of railroads projected by sharper
to plumber people who buy their bonds o.
to make fat dividends for Credit Mobile
construction companies.