The Ottawa free trader. [volume] (Ottawa, Ill.) 1843-1916, 1879-08-02
TINE IRON RRADE,
A Tremendous Demand snd prices Tending
Upward.


Upward.
When the present year opened the prospects
for the iron and steel trade were abOut as
gloomy as could possibly be imagined. The
demand was at a minimum. and prices were
lower than ever before. Men of the world gilt
ed with far seeing faculties, when asked ifthere
was no hope for the trade, shook their heads
mournfully and expressed fear that the history
of the past three years was to he repeated in
1879. Fortunately, however, their gloomy fore
holdings have not been realized. The tide be.
gan to turn in February, and every succeeding
month has witnessed growing and encoarag
ing improvement in this great industry. Sec
rotary James NJ. Swank of Iron and Steel
ASSOCIATION of the United States, the statistical
bureau for the iron men of the country, was
asked yesterday to give resume ofthe present
condition of the industry. In response he re-
marked:
There will be more iron and steel turned
out in the United States tins year than in any
one year in the annals of the country. When
speak ofiron and steel embrace categorically
more rails, more bar IRON, more plate and sheet
iron, more pig iron, more Bessemer steel and
more crucible steel What is better this large
production IS in answer to the demand, and
manufacturers are not, as in many past years,
piing up stocks in order to keep the furnaces
IN blast. Prices have not advanced to any con.
siderable extent, yet they are from ten to fiji.
teen per cent. higher than last fall when figures
were lower than ever before in this country.
Our present condition is decidedly cncOurag.
ing"
"But what of the futurc?" was asked
II expect that activity which prevails to-day
IN all branches of the iron and steel trade will
continue for at least year to come. Nearly
oil In founrohlxy cifuata1 rnllinr mi lie nr
operation, and numbers of these mills, as we'll
as furnaces and steel works, have orders ahead
for several months to come. But let us look at
some of our latest reports. Remember that
this is midsummer generally the dullest time OF
the whole year. Yet New York reports an ac-
tive demand for the product ofthe furnace, and
a good deal of business is doing in old rails.
Away up at Pittsburg the market is strong,
prices are firm and many holders of stocks are
moving cautiously or else holding back in
anticipation of an upward tendency. In Louis
vile our correspondent says that the volume
of business far exceeds that of former years at
this season. Tennessee has been the last place
to feel the objects Of the revival, get our report
from Chattanooga shows that an actual adj
vance in the price of both pig and manufactur.
ed iron has commenced there, that contracts
cannot now be made for less than to 10 per
lCcut VII tuC pliIVoot uiOhth aSp' hii'
that there is no lack of orders at any of the
works, And these are straws showing which
way the wind is blowing"
The condition of the Philadelphia market
at the present time is highly encouraging. The
demand for pig-ron and much bar is very &C
tive, and lots are taken as soon as offered. The
makers of structural iron have their hands full
and prospects of great activity for some time
to come. The amount of business done in
sheet iron in this locality for the past 6 months
| is without precedent and heavy fall trade, com
bined with general advance in prices is an
lticipated The same applies to bar iron. A
considerable amount of business is being done
in steel rails. High prices could be obtained
for present deliveries but the mills have theiI
capacities engaged to such an extent that or
ders can only be taken for delivery many
months hence The demand for the delivery
of iron rails during the next quarter Is very
urgent The scrap iron market is firm, and
prices tending upward.