The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1876-03-14
Chcop Times the Time 10 Build.

Cheap Times the Time 10 Build.
From the Iron and Steel BullctInl
Wepublish an exhaustive article upon
the activity displayed during the past
year in the construction Of new iron and
steel works and the enlargement Of old
ones. A very strong reason for such pro-
gress at this time, when the iron trade Is
suffering from unrcmunerative prices,
exists in the fact that all items entering
into the cost OF building are lower now
than they have been for many years.
Much of the growth in capacity is due TO
the influences which have led well.estab.
lished firms, having the necessary capital
and business inducements to make extern
sions to their works. In other cases
manufacturers have sought 10 diversity
their product to enable them to endure
more easily any temporary over.produc-
ton and resulting stagnation in any one
branch oil the iron trade. Others again
have concluded to manufacture the raw
material instead Of buying and finishing
II partly advanced product. Changes Of
this character are taking place through
out the country, and in few years will
result in the building up Of many mann
moth establishments, every one OF which
will have Its own furnaces, rolling mills
and repair shops, with perhaps nail fac
tory, u screw factory, shovel factory, or
some other minor manufacture as an up.
pendage.
The new works, have perhaps, without
exception, been wisely located and prop
erly constructed after careful delibera.
ton. Furnaces are near ore banks and
coal fields, and do not suffer for facilities
Of transportation. Rolling mills are gen.
orally by the side Of furnaces, and enjoy
all the advantages arising from such
proximity. New and improved processes
have been introduced. Our ironmasters
have been very generally disposed to in
troduce the latest improvements and to
construct their works at the lowest cost,
thus enabling them to make iron cheaper
than ever before. The past fifteen years
have demonstrated that we have the re.
sources for manufacturing all the iron
and steel We can use; and the present era
Of dull times is teaching us 10 take ad.
vantage Of everything that will enable us
to turn out these products more eConomi-
cally.
While strong firms have been making
additions TO their facilities and improve
meatB in their plants, many others, we re.
greet TO say, have become hopelessly bank
rupt. Bad debts, the rapid decline OF
prices, and the continuance OF manufac-
ture at loss, in the hope Of n speedy
trade recovery, has been the cause Of the
failure Of many concerns, which, being
properly located and carefully built, will
be put in operation by other parties.
There are other establishments, however,
which have been built by inexperienced
persons in out-of-the way places, far
from the raw material and remote from
market and in consequence Of the decline
in prices have succumbcd to financial
pressure and been hopelessly closed.
Their owners may not in our day expect
suchan advance in prices that they can
run them at profit.
Prices are now so low that every con-
sumer OF iron has every inducement TO
buy. The railroads have generally
awakened TO this fact, and quite recently
some large operations by leading rail-
road companies have been reported The
New York Central has purchased thou
sands Of tons Of steel rails; the Union Pa
ciGc has ordered large number Of loco
motives; the Pennsylvania has been very
literally buying steel and iron rails, cars
and locomotives; and other roads have
followed these examples. Old roads that
have been imperfectly equipped can now
buy everything they need much lower
than before, and there is no good reason
why all OF them should not take advan-
tage OF these low prices. Contemplated
roads can now be built at less cost than
at any time for many years past, even il
they were 10 be furnished with steel rails
and tirst.class rolling stock. 1t cannot,
in the nature OF things, be expected that
the present low prices will always con-
tinue. A year, two years, three years
hence all these railroad supplies may
cost from 10 to 20 per cent more than
they do to-day, and a wise policy should
dictate to railroad managers thai this is
the time to buy. The iron works OF this
country are now able to meet every de-
mand that may be made for their pro-
ducts. Railroad managers, too, should
not forget that busy times among the iron
men add to the passenger and freight re-
ccipts from all who are in any way bene-
fitted by the iron trade. There is no in
dustry in the country which SO quickly
and liberaly reciprocates kind treatment
as the business OF making iron.