Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1879-09-10
THE NEIGHBoRING IRON MAR
KETS

THE NEIGHBORING IRON MAX
BETS.
Our manufacturers are maintaining
their characters for conservatism and
foresight i'm not losing their heads and
being carried away with the eager de-
sire that obtains in some localities to
take advantage OF an active market.
Considering the long period OF proStra-
ton the iron trade has endured, it is
not a wonder that manufacturers are
hungry and greedy with returning
health. hut il Is all the more creditable
to those who have the Pru lencc to make
haste abroad" 4 slow recovery
is far preferable To- a hasty relapse.
Manufacturers are well aware that the
capacity OF the idle mills OF the country
is more than sufficient 10 meet any
present or prospective demand, and
when these have again been called
into activity competition may restore
the rates to the lowest point that will
admit OF paying profit. II is probable
that 3 for nails is price that could be
maintained, but If not, it will be uniOr-
tunate Tor the trade % bc compelled to
reduce il. I'm regard % the present
condition Of the ncighboring markets,
the Pittsburgh Post has the following:
The iron market still keeps stiff and
there is still a tendency % advance
prices. Finished iron l. now selling in
this citv at - cents per pound. In
Cincinnati the price L. - cents per
pound, an increase of 20 of accent hav-
ing been made Yesterday. Some of the
Cincinnati dealers were in favor OF fix
ing the price Is high as three cents per
pound, but the faction n favor oil 4
cautious advance prevailed
The chief difficulty in the way oi an
advance here, dealers says, m the tact
that an increase above p carries with II
an increase in the pay OF the boilers and
rollers. For every advance Oi one-tenth
per pound the bOllcrSS scale calls Tor an
increase of ten cents per ton Ot 2,24O
pounds, that is they get ten cents when
the increase in the sc,ling price OF iron
is 3 p per ton. The rollers and heat
ers would come i'm Tor almost a similar
increase. The increase IN price OF Pr
has been greater in proportion than the
increase m the price ut finished iron,
and If pig continues increasing the mill
men will be compelled 10 advance their
prices.
There has been an advance in pig
iron in England also, and ii seems from
the most reliable adyiCcs that the TIM
ished iron market Is very still abroad, a
single firm in the city having received
Yesterday no less than five letters from
as many parts Of Great Britain to that
effect. Some 5000 tons of BeSSCmcr
iron for the rail mills make up the ma
terial shipments thus far from England,
but with the large demand Tor rails tins
will be absorbed without cutting up the
home furnaces greatly.
Ii is thought that the price OF nails
NAV soon be increased to - p, rs that
is the proper relative figure with com
mon bar at 2.5C. The action of the
Wheeling manufacturers will have some
influence on the market here and the
papers of that city state that there Is
not much probability of that city tol-
lowing in the wake of Pittsburgh. At
present nails are selling there NJ 500,
while the price here adopted on Satur-
day is 3 %. The Wheeling mills or
many of them are still runnIngon orders
received at the Old figures, however,
and they want feel their way cautious.
w by learning what will be the result OF
their present advance To , 90.