The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1878-11-21

The advance sheets ofthe forthcoming
30th annual report OF the Cincinnati
Chamber Of Commerce devote considerable
space TO q review Of the iron trade ofthai
city and the country for the year 1877.
7s. 1t tseems by this report that West Va
did not produce rs much iron in 1s77iby
G,2G0 tons as in 1870, the aggregate for the
former year having been 1905, and for
the latter Il ,l65. The State Of Ohio pro.
duced last year 400, ,3oS tons as against 4O3,.
277 the year previous. The total produc-
ton Of the United States for'ls77 was :
3l4, 7s5 tons (20OO pounds TO, the ton) and
for 1879 1t was 2,Oe3, ,9S6.
'1n manufactured iron, the history
which was written OF the preceding year
might almost be substituted for lS77.78,
Whatever hopes OF early restoration may
have been entertained at the close OF the
preceding year, predicated on good crops
and temporarily improved feeling In
some quarters, were soon dispelled after
the advent OF the new commercial year.
Undiminished production, and fair de-
mand at the prices, which were always
satisfactory to the producer, and which
were slowly giving way before the impor-
tunities OF consumers on the one hand and
the anxieties OF manufacturers on the 9th.
or, come nearly relating the whole story
for the season. The receipts and ship.
ments of manufactured iron and steel both
show an increase over the previous year,
The consumption appears to have in
creased, and yet the average price was less
than at any time since the decline began.
Merchant bar was at the nominal price OF
2 cents per pound during the greater part
OF the year, but was sold down as low as
81 20, card rate, at which large quantities
changed hands, and In some cases forced
sales were made at 81 so. The average net
price would be about 81 rs, card rate. The
shrinkage which manufactured iron has
undergone can be seen by contrasting
these low prices with s! cents per pound,
card rate, which was the highest point at
tanned during war times. In plate iron |
the decline has been about the same dur
ing the year that was experienced in bar.
The nominal price was 2la4 cents per
pound, as to thickness and quality, and
yet, under the pressure OF competi. |
ton, many sales were made from s. |
to $40 per ton below these figures. Sheet
iron was more firmly held at the prices |
which prevailed at the commencement OF
the year, namely, 20ia3c per pound,
though these prices were frequently shaded
down to 2.25a2. 75c, and, in exceptional
cases, sales were made $2 per ton below
these quotations. 1t is pleasant to report
a more encouraging condition at the open
ing OF another year. How far these may
be based on the stimulation derived, for
the time being, from abundant yield OF the
fruits OF the earth, rather than perma-
nently improved condition, the future can
alone reveal. The opinion, however, is
quite generally entertained among pro-
ducers and dealers that prices for manu-
featured iron touched their lowest point
during the year, and that we have really |
entered upon steady,
though it may be slsw, process OF restora.
ton. a, Fs0
The movement OF nails has been one Of
the largest in the history OF the city, the
imports having been 43l, ,245 kegs, COM
pared with 3S3,025 in the previous year,
and the shipments $40, 600, in comparison |
with 206,0l4. The business, however,
though materially increased, has not been
a satisfactory one to producers. There has
been steady pressure for lower prices,
and this, with production beyond actual
wants, has given no more strength to the
market than characterized the preceding
year. The mills tributary to this city have
generally been running, and, though raw
products have been cheap, the extaor-
dinary low prices and the almost constant
tendency TO lower values have generally
shorn business OF remuneratiye results. ?