, 1879-07-26
THE IRON TRADE BOOMING.
A Tremendous Demand md prices Tending
Upward.

A Tremendous Demand md Prices Tending
Upward.
Enttadklnh.o Hkt1rd, JHlv II,
When the prescut year opened the proBpcct4
for the iron ard steel trnde wcre ABOUT Is gloomy
as' could possibly be imagined. The demand
WAS At minimum, and prices were lower than
ever before. Men Of the world gifted With far
seeing faculties, when asked II theto wns no
hopc for the trade, shook their heads mourn
fully and expressed fear thnt the history ot the
past three years Was to be repeated IN 1872.
Fortunately, however. their gloomy forebodngs
bare not BEEN realized. The tidn began to turn
in February, md every succeeding mouth has
witnessed growing mud encouraging tnprore-
mcnt In this great }ndustry. Secretary danes
NJ. Ywauk. uf The Iron nnd Steel Association OF
the United Stntes, the statistical bureau for tho
frou .nsn Of the country, was asked yestetuay 10
give resume of tho prcscnt condition OF the IN
dustry. In response he remarked:
There will be moro lrun nnd steel turned
out III the United States tllts rear than in any
sEeak Of iron and steel embrace catcgotlcally
rnuro rails, more bar iron, moro plate and sheet
tron, nore ply Iron. moro bcssetncr steel, and
more crtciblr steel. What Is botter, this largo
inapufatsurcrs arc not, as in many pnst years.
pil!r, up stocks III order 10 Keep tue furnaces In
blast. Prtccs havc not advanced to any consul
cFable extent. yet they are from 10 to IL per
EEHt HlEuEE kH31l lNhk 1usls HHCA uHllGo HtlG
lower than escr before In this country. .Onr
present condition Is decidedly encouraging"
hut what Of the futurct" was asked.
II expect that tile activity which prevails to,
trads viii continue Tor At least . year
TO come. Nearly sll the favofnhly sitn..
ated rolling mills arc in opcr9slon, and
numbers of tl'ese, mills as well rs fur.
and stsa' w",ks have orS5s 5
let US look at some Of our latest reports. lsc-
member that this 10 midsummer, generally the
dullcst time OF tic wflolo .ycas. Yet New York
reports IN active deu,atd for tue product o{ the
furnace. and good dcn! Of business Is doing in
old rails. Awuy uo at PlttabuEg the market Is
strong, prtccs are firm nhtl improving, and mary
holders Of slocks ate moving cautiously or elso
holding back in Anticipation OF an upward ten
dency. In Louisville our correspondent sata
tl,at the volume Of business far exceeds that VI
former wears at this Bcason. Tennessee has
been tho last place to feel the eilccls Of The
revival, ret our rcports from Chattanooga
shows t}las hu actual advance in tile price Of
both pig and manufactured Iron Ilas commenced
tllcrg; TINT contracts cannot now bu lnade Tor
| less than 3 10 10 per cent advance on the price
| Of month aGo, aud that there ls ITO lack Of
| orders at nny Of tho works. AL tlIeto nrc
straws showing which way Tic wind Is blowing"
The condition Of the Philadelphia market at
the prcscut time Is htghly cnCouraE!ng llic
demand for piC.lTou and mucE-bav it very net
i've, aud lots are taken as soon as offered: lhs M
makers Of structural Iron have their haNls full
mud prospccts Of great activity for somo ttnc to
! come. The amount Of business done in sheet
tgon in this loeatty Tor the past Blx months is
without precedent, ard heaTy fn!l trndc, com
biucd with aEeuefnl advance In prices, is au:c!-
| patcd. The same applies 10 bar-!ron. A cou:
siderable amount Of business Is duno in steel
rails. High prices could By obtained for nrcacn1
deliveries, but tho 1nllts have their capac,tlcl
engaged to such an extent TINT orders can only
bo taken Tor deliveries many months hence
The demand for the delivery Of iron rails dur
Ing the next quarter Is very urgent. Tie scrap
| iron market Ii 1sn and prices arc kcuding up
| tgnrt1.