, 1877-01-01

esPiained Is the lie fact oi greater activity during
the summer, ~ above noted.
IRON AND STEEL.
THE MANUFACTURING 1noN TRADE
was much less active than in 1s75-herc as we'll
rs elsewhere. Tho iron interests OF tho whole
world arc suffering extreme depression as acotl-
sequence Of tic panic, which wns itself Chiefly
the result Of Tho very speculation that mado
tho business abnor1na.ty active md unhealthy
strong for two or three years prGylous. The
mills and furnaces which were called Into exist
ence to supply that speculative dc'nand for rail-
roads arc now idle, their product not being
wnntcd. It now seems probable to tho trade
that this depression will continue for aomo years,
and that decade honcc the requirements OF tho
country will be scarcely up to the present pro-
duclng cnpaclty.
Al manufacturing centre for iron and atcol,
Chicago holds leading position. Philadelphia,
New York, and other Eastern cities, havc until
very recently looked upon iron as a legitimate
Eastern product. The tables aro now complete
II turned. The West has demonstrated It's MILL
~ to underscll the East in nll branches Of tho
iron industry. Although the trade for tho past
year has nut been conducted on m active scale.
the decrease in the aggregate value Of the mn
nual product has been less than was expected
by many iron capitalists. The tccrcase for tho
etttu war IL rcpDrtud at s per cent. Of tho
TEN nr+sEMER sTEEI-wonK8
IN the United States, two arc locntcd In Chicago,
n1.tl IF tf.s 9ol ,GoJ tons Hessomer steel rails
manufactured in the country last ycar, S5.NN
tons, or nearly ouc-th!r1i Of the cntirc quantity,
wuru H1ad1 In this city. Tho decren.e IN The
vall,c Of tI,c iron manufacture Of 1870 fs much
tho ya,no ii rnls.ng-,n!N products. III fast,
n,orc Iron laat ycnr than in 1870,
hut tho scale of pricca asas been 50 rlilnously
low that sales on fafr profits invo been out Of
cent lower than Il, ISIS. Including the mills ut
Jo!let aud South Chicago, which aro owned ~
Chicago capitalists, this city now has four roll
lng-n!lls. Abont W,0oo tons q steel rails were 1
demand ] Tor steel 81 lste years has bcen . grow
lnE one. Tbs substitution Of steel rails for Iron
cues IL each year bclug accomplished ut rate
tlat will ins4ro tho removal, IN tho very near
usS 9 raa IT, as' e sa paylo a our Of
t,o mills foots up s2,ooo, 900, against
t2,70o ,0O0 In 1915, Over 100 toss ut coke au.l
cual arc tlally consumed Iii thn process 0f rail
Ilrssumcr rails wero sent into Cauada, but the
exporsation duty prevents any development Of
trHdc In thla direction.
luos vouNpRIEs 49,.
have decreased In tho value Of nnnl,a1 products
i per cent. Tho amount Of repairing work
which has passed through tile llansis Of IRON
foundcvs Is auoat thu sumo rs IN 1876: The
tail!ag "a building ha. lnrea ths t'snaTt
FS PsospeE!ty 4 tic Western re'iSoa',s: i.
1a7d waa almost exclusively Western. as The
railroads leading to the East, n'thoush they
hayo carried an unusually large number Of pas
sengers aud great dcul OF freight, haye lost
money on ACCOUNT OF reduced rates. ltauye and
furnace works atc sttll lat, ta consequence of
tho continued dul!ncss Of the hotel business.
Thu following ltemixcd statement Will provo
| OF Interest to the trade:
! OUR IRON CAPACITY.
Wholo number Of completed blaht.fur- ..a
Aaaaai' si' eapaeit; s Il sii tio furnaces, in M
whoie Humber Gf 1oins. .aiiii' jan l. ~
who's number oi .inslo :padiiins:iar.
1laccs teHch double furnace count!nyas
Total au,!as, asls,s Gsi sapaeity af iii 1olar
in ilnished iton. nct tons. 49,. 4. lso, 7e
sa@S?st 'a' Il se'semss % stcsi WORKS, jali. NV
@ isxsi: soo
SS.nse,, y 4s~t' ~ot'ren.hea'th steel works, -
Hnnusl cspaciy ~ in ingots nst tons. -, OF
| works, Jan. !, lh70. ....... ...,.,... 81
nst tons: ...:..:.....::;......,:.:. los. a5t
Mt ions $685. -. 43. .oos
| Number Of Catalan furHcs. making
biuoms direct tsuni tho ore, Jan. !,
| ltIU.... .s.t.,. III
Annual capacity In blooms and bll!ots,
| htL IQHs ..ss...t.t..'. o6s 1Os
Number Of bluomarles, Jan. !, 1875,
making btoons for p!g.irpn.. ......,.... 4
Annual capacity Ia blooms, net tuns. -, 60,
The following Is q summary showing tn
number Of establishments devoted to frol
works In It's different departments the nun
bcr Of workers engaged, at.d the value OF III
aunual production Tor 1b7t:
AuHAAAT.