Iowa County democrat. [volume] (Mineral Point, Wis.) 1877-1938, 1879-08-01
THE IRON TRADE BOOMING.
Tremendous Demand AMI Prices
Tending Upward.
Philadelphia Record, July %.


When the present wear opepsd the
prospects for the iron and steel trade
were about as gloomy as could possibly
be imagined. The demand was at
minimum, ana prices were lower than
ever before. Men of the world gifted
with far-seeing faculties, when asked if
there was no hope for the trade, shook
their heads mournfully and expressed
fear that the history of the past three
years was to be repeated in 1879. For
tunately, however, their gloomy fore
bodings have not been realized. The
tide began to turn in February, and
every succeeding month has witnessed
a growing and encouraging improve
ment in this great industry. Secretary
James M. Swank. OF the Iron and Steel
Association of the United States, the
statistical bureau for the iron men of
the country, was asked yesterday to
give a resume of the present condition
of the industry. In response he re-
marked:
"There will be more iron and steel
turned out in the United States this
year than in any one year in the annals
of the country. When speak Of iron
and steel, / embrace categorically more
rails, more bar iron, more plate and
sheet iron, more pig iron, more Besse-
mer steel, and more crucible steel.
What is better, this large production is
in answer to the demand, and manu-
facturers are not, as in many past
years, piling up stocks in order to keep
the furnaces in blast. Prices have not
advanced to any considerable extent,
yet they are from 20 to Is per cent.
higher than last fall, when figures were
lower than before in this country. Our
present condition is decidedly encour-
aging"
But what of the future?" was asked.
81 expect that the activity which pre-
walls to-day in all branches of the iron
and steel trade will continue for at least
a year.to come. Nearly all the favorably
situated rolling mills are in 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 active
demand for the product of the furnace,
and good deal of business Is doing in
old rails. Away up at Pittsburg the
market is strong. prices are firm and
improving, and many holders of stock
are moving cautiously or holding back
in anticipation of an upward tendency.
In Louisville 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 effects of the revival. yet our
reports from Chattanooga show that an
actual advance in the price of pig and
manufactured iron has commenced
there; that contracts cannot now be
made for less than five to ten per cent
advance on the price of month ago,
and that there is no lack of orders at
any of the works. All these are straws
showing which way the wind is blow
ing"
The condition of the Philadelphia mar
ket at the present time is highly encour-
aging The demand for pig-iron and
muck-bar is very active, ard 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 six months is without precedent,
and heavy fall trade, combined with
q general advance in prices, is antici-
pated. The same applies to bar-iron.
A considerable amount of business is
done in steel rails. High prices could
be obtained for present deliveries, but
the mills have their capacities engaged
to such all extent that orders can only
be taken for deliveries many months
hence. The demand for the delivery
of iron raids during the next quarter is
very urgent. The scrap-iron market is
firm and prices are tending upward.