The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1878-01-09
atheeling &e9ister.
FINANCIAL AND COMMERCIAL
Review Of the Western Iron Market
for 1877.

I
Review Of the Western Iron Market
for 1877.
From the Iron Age.
The hores that were entertained IN the
West at the beginning OF the year, that
1877 would see an improvement In the
market for pig iron, have been doomed
to disappointment. Every form OF pig
iron has declined in price. Coke irons
for mill purposes that were held FIRMLY
at Pittsburgh at $22 so at the beginning
of the year, have steadily declined, until
the quotable price for the best brands OF
forge irons made of Bessemer stock ID
S2l 90. four months, and for = fair sized
order for immediate delivery, this could
be shaded. Pig irons for Bessemer pur-
poses have also experienced similar de-
cline, and can to-day be bought for a
shade less than $2l 80, as against S24 81
at the beginning of the year. Lake SD
perior charcoal irons, though the supply
is very limited, have been offered at
Pittsburgh lately ut $23 10. Hanging
Rock charcoal irons, which were sold at
the begirnin of the year for S26(g2s w
for hot blast, and $43 90 for Heels, car
wheel iron, are now offered at $25@2S on
and $28 90 respectively. These reduc.
tions in dollars and cents are not very
large, but when the cum from which they
are taken Is considered, it is consider
able decline. In the inferior grades OF
coke iron, MAIDS from everything, the de-
cline, both in quality and price, has been
even greater than in the better grades,
and $l7@l7 so, four months, will buy
iron that are called mill irons, and used
in the pudding furnaces, but 1t Is Gil
they are worth.
There have been several causes con-
spring TO prevent an advance and BRING
about a decline. The use of old rails al
rolling mills has had no slight effect IN
this direction. Old rails make better
trade OF certain kinds OF iron than con-
sumers are willing to grant when they
wish to buy, and the same may be SAID OF
cinder pig. A fair proportion OF good
cipder, used in connection with the rich,
pure Like ores, will make rs good an iron
AS though the mixture was the native ore
OF ulOsL Oh Luc IIhstcl IL ONoSOo' 49, -"
creased amount of anthracite iron has
been sent to the West during the year,
and rs these have come in competition
with the cold-shore aid neutral western
iron, il has forced down the price OF the
latter. The decline in manufactured iron
| and nails during the year has also had Its
in fuence in reducing the price OF pig
iron.
1t is difficult TO form any opinion as to
prices for the coming year, but the out
look Is against any immediate advance,
and II will be fortunate If pig iron main
talns its present price. There are so
MANY idle furnaces that will blow In al
the least prospect of remunerative prices.
that furnscemen will be cbsry about dc
handing An advance, and consumers
will be certainly hard pushed before they
will pay it. There is certainly no money
in pig iron at present prices, unless Il
furnace may be so fortunate as TO have
home market; then there may be, IN
some localities, interest on the invest
ment; but the very fact that so many
furnaces, we'll situated and owned by men
of large capital aud experience, are idle,
is the best evidence that Their Is no
money IN the business, and that they can
better afford to lose the interest on their
capital and the inevitable depreciation OF
their property from Idleness, rather than
start