Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1879-10-18
FURRY IN IRON.
Reported Rush of English Pig
To America The Outcome Be
lieYed to BE Safe.

READING, Pa, October l7.-There is a
noticeable furry among the iron men OF
the Schulykill valley, caused by the de
velopmeuts OF the present week looking
toward a flooding ot the American mar
ket with English pig iron. All sorts
Of reports are being hurriedly pass
ed from one 10 another, mainly 10
the effect that English capitalists, see
ing the ilourishing condition Of the iron
trade in this country, have resolved To
break il down by sending over all the
iron they can possibly get together.
Heretofore vessels have brought stone
i'm ballast 10 America, at a possible cost
% the vessel owner. Now they are
bringing iron instead, at a profit 10 the
shipping merchant. New Gark brokers.
by circular and private correspondence,
are advising furnace men in
Fast Pennsylvania To conclude their
contracts at once for all
their next years productions, il they can
possibly do 81, and heSe circulars are
having quite an effect. Large iron pro-
ducers are seriously considering wheth-
or or not tO tie themselves down for a
definite period. They say that there is
Just where they made a mistake this
year \ number of months ago they
signed contracts for every ton of their
production up to January l, 1880, at
the old prices OF the beginning OF the
war. When the iron boom came
along and prices advanced to
the present figure the large
majority of iurnacemen and pig-iron
producers did not and could not profit
bv the advance. No matter how much
pig-iron went mp they were bound %
furnish all they could produce at the old
figures. And they are doing II now, and
will continue 50 up tp the first ot the
wear. The iurn1Ctmen who are really
making money and taking advantage of
the recent rise i'm pig-iron are compare
lively few. They are the ones who
signed no contracts AMI entered into mo-
agreements 10 furnish all their
productions at the given figure.
Hence the iron men are
very slow to again sign contracts. They
recently received adviCcS that our mar
ket Is to be flooded with English iron is
looked upon with suspicion. Ii il rs in
tended 10 drive furnace men into max
ing contracts al once for next year il
will hardly succeed. IL Is the belief
among nine-tenths Of the iron men OF
the Schuvlkill valley that pig iron is 90
ing tO advance, and that the prices will
remain up Tor some time TO come, al
though there are some who
would De willing 10 contract
all their productions for 1880
at present prices. Iron men, of course,
arr, eager Ia do the best they can, and,
after their long period Of idleneSs, are
satisfied to take years job, and make
10 sure ON the present remuneratlvc
scale of prices. Ii is safe tO say that
nearly every iron establishment in the
Schuylkill valley is going. Furnaces,
rolling mills, fOunderieS, and mills
have increased the rates of wages
paid 10 the men, AMI everything seems
to be- in the high tide Of pros
pcrity. This fact is a most unusual one
after the long period of depression. Pro-
duCers and manufacturers are not accOS-
toned tOit. They seem 10 be standing
on dangerous ground, and hence ID is
that the recent reports have "rCated con-
siderable furry. Those who are cool
headed are holding oil, attending to busi-
ness and making plans ior the future. IL
is not probable that many will close
their business contracts for next year
lust vet. They are more confident than
ever. The Reading Iron Compady alone
requires one mile oi cars every day To
remove their productions and bring
them the requisite raw material. Piping
and tubing have advanced several hun
drcd per cent. boiler and plate iron
have gone up, and the outlook l. one ot
great encouragement to every business
man of tins section Of the State.