The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1878-03-21
ruE PIG IRON TRADE.
s,rrLucruArIoNsIN PRICES
o,a ReyiyaI-The Prophe-
PROM samuel Benner, an Ohio
.rmer How Far Tsey
.sye Been Realized.

pe.Ourgh Chronicle Ill ,,,o
W., nBepners Prophecies of Future
s"" I'd Downs in Prices" BY Samuel
s',,sr. W. sn Ohio farmer published BY
..,bo- in 1876. The author realizes
' .,o ,oresee the future intelligently
~, ..,,,d to supply and demand, pro-
= 80, and consumption is the great
hist finance and commerce are to-
.,p,sling and graphing with and
70 solve, a1d the object in pub
'%S .a, The book is to give brief, full and
s,pO.i,ion of the Ups and downs in
..,,,. for certain products and COM
r,ie. III the markets of our country
.n WHO are struggling in the same for
.,ynPetence'"
,,,.,,. rslstive to the price OF pig iron
=. 1916. 1877, 1878 and SO on, and we
4.nsr. slIude to the predictions, and
-, proceed to discover how far the
,.,,5r, foresight hss been fulfilled. And
hare We may be permitted to remark
-. Bepne.'s little book is hig bly, spoken
..r,nr our iron Een, who "krow OF no
sr otjldgins OF the future but by the
g.,rer predicted in 1875 that pig iron
"a \. lower in 1876 than in 1879;
49,, i, 1871 than in 1876, and that the
..,a mice IL some months OF that year
-.1,t run below $40 per ton. lie also
..s+,r.. tn., piy iron will be higher IN
t.,s.,ls7s thsn IN 1917, and IN 1879
s.5 IN 1873. Notwithstanding the re-
,-Tnuon OF specie payments that the
,...s wIl be higher IN 1850 than 1872
,,ttf,ter in 1881 than 1880, and that
-. csIly price in some months OF that
80, will run above $50 per tor. DE
..,predlc.,d depression IN business and
,~,,T t.Ilurcs IN 1851, snd says Mdt
,,.,. will Re commercial revu sion ana
s,,,clsl crisis IN 1891.
The prophecies are made from the tes-
,.oory OF twenty years observation by
,az;,,r IRON nvIag aud experleuced
49,. ,rom tue ye4rly average prices
r.ralad nv rrcogIrz u official authority,
,-t D; sra.oEy, re.ylng upon history
:, rsp.,t l.--ll IN other words. e1-
..us. tO.oS extremes.
C.mmylcirg with 1910, the author
use: pig iron statistics, showing the
g.5..a AID decline, ana the ups and
:5sa. in the prices of the commodity to
4, wears 1872 snd 1875. After glvlnga
long array OF facts, showing the years OF
prosperity and depression IN the pig
70, trade. the writer demonstrates that
tie ups and downs" IN the prices OF the
commodity wss regulated by cy-
.ss Of years. For instance, the price
o., pg vas very high in the years 1887,
I4j, 1854, lSjl snd lS72-lhe highest
p..s yesrs since 1884; and also that the
ryl lrsie was severely depressed IN the
ygsrs 81, 4}, 50, 6l and '70-the low
ct nnce 1854 Says the author, "com-
as2c!ng with the low priced year, 1884,
.se price: sdyaLced three years and de-
ci1et SIX 10 lSi}-cycle between low
W.ce;, nine years. There was an ad-
ysuce Of two years TO 1915, and de.
g.neoi fVc to lejO, making u cycle OF
seven year., advanced four years TO 1854
sal Declined to lool-cycle Of eleven
yssf;, advanced three years 10 1864 and
.eciuet SIX to lS70-cycIe nine years;
advanced two years to 1872 and declined |
,.ree years 10 lS7j-the year of this
l'oPsesy. lhe decline, 1t will be
pe'ceWcd, Was not iull by TWO
wears, OF wtua il WAS necessary 10 |
Lave sCyC,e oi seven years in its order |
between low prices. There must needs |
Be two more years Of decline from the |
Date OF the prophecy, or until 1877. |
Then follows the cycles IRON 1887, when |
ron Was highland by the same cast
"on rule /! Is shown that the cycle OF
-sh prices will end in 1881, beginning
Al' year. From 1885 to 1875 the price |
"pS declined twenty seven years and
ANsaced fourteen, making the ratio 80
40 10 one.
Here Is Whist The author says of the
!aS' lsls and the yesr 1881:
In tie yesr 1873, We shall enter anew
'7''' Of Tue ups sad downs; the advances
--Ineacng with tour years and declines
'"a seven years, making s cycle Of
e.s'sa year: IN low prices. Also, we are
-.F 10 The cycle OF nine years in high
FSes, sud 1851, the present high priced
zee MI. be complete and end, and after
-. We shall enter the cycle OF ten years
.,sa P'ce:, completing this cscle In
Ae'e Is the most important part of the
.-'plecy sad bearing on which we will
-Ies statements curiously confirming
,-. ,-. .o'fec:1ess OF the prophecy. Read
'-s prophecy:
u tie yesrs 1873, 70, so and 81 the
sH o. p'S iron will be on the ascend
NA.e, the iron trade tcdL again Be
Y,r,A, and IN these years, especially
-. -. '''' iTo-lsS0 and lSSl-mcrey
=. 's msic very last in this business,
'-.5& Nanme!ed by uuwise legislation
.'.~ zoe currency aud tariff; and in the
~ ~ .e'l, II the months of September
:;a-,:. f'No wiz 10 - 'N'
.a--' !ae head Of a revival in pig
- industry thus far in 1878, we find
",...oWitg IN an exchange: LAS .
~ ~. 'aAi the pig IRON industry of Penn
"a - ls beginning TO turn the corner
~, aaTd times, the Philadelphia
F''a's 70 the TACT that last wear at
me IIe IVo.ihiIds o! the furnsces in
: - '.A.e were out OF blast, and but one
: we're 4! work; whereas this yesr. at
C,,saae, "ae, two.,hirds are in blast and but
s'iI'd silent"
srt,,S Ssa"eusn in Wheeling" says the
s.I@s1ER interested in the ss'e Of pig
~ a., received Sdvices from the Eas, one
7,:, N' week 10 the effect that sn I'D.
'. VI Three 10 four dollars per ton
shortly expected"
r., a Hybrid.
NJ s 81. Louis Globe-Democrat.