The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1879-04-18

/ Now llal tnp iron interests III FlttSDuTRIl
.,i Wheeling are considerably pressed
he weIIsburg Mrs suggests that that
Sality presents advantages for cheaper
reduction. We fear that Wellsburg is
10 ltein the day in presenting her ad-
rlatlges. The country is pretty well
pgel with iron works, and it will be
nne time before those who are witnesses
dthe present straits Of manufacturers will
tsk their money in new ventures. The
toubIe is that during the flush times OF
Ae war aud Of the years 1S7l-72 and 73,
the iron business ran riot in its growth
md shO! far ahead Of all legitimate con-
vgnpIiOn. The war created a vast
demand for every variety OF iron pro-
ducs, such as all kinds Of arms and imple.
ren.s Of warfare, and also iron clad YES
Rls Of every description, and the paper
money initiation incident to the great
struggle OeSot innumerable Speculations
and enterprises in the way Of railroads
running IRON nowhere to nowhere"
Nch as set the country wild with the idea
hat The iron business could not be over
done. 1t was shown to the satisfaction OF al.
most every body that the uses ofiron were
practically illimitable, and that these uses
were btundtO outstrip production. Noas-
stioa WIS more firmly believed than this.
Hence capitalists went into iron projects
Of all kinds with an abiding faith
in the dogma that iron production and
manufacture was inherently a conserva-
tire anil safe business. The rush to build
taruacs from 1870 to 1874 was perfectly
tremendous, as it was also to put up mills
Of every description. Untold millions Of
dollars were borrowed at high rates Of in
ie'est to build new furnaces, to enlarge
the capacity Of old ones, to develop ore
mines, and 10 add to the machinery Of
SctQHe that were doing a profitable busi-
neS
The nail business felt the force OF this
extraordinary stimulus, as did all other
nnIdatiOns OF iron manufactures, and
iTonIinEIy the production was immensely
increased in the course OF very few
!tas remember tile pungent remark
" one Of our Wheeling manufacturers
airing the flush times OF 1872, when he
declared that the price Of iron was being
Hs1ei up by the demand for it from the
aIIs and furnaces then coming into. ex-
SenCG, There was no little truth in the
NRarE, although at the time It was
soughtto he n wild extravaganza. The
Sulnd for iron wherCwith TO build fur.
alcs iii take' a great deal Of iron
@ blast fur. 'ace) aud rolling mills,
Ca most undoub tedly have an I'M
lofAOt bearing o. the price. In
aeyeas otthe greatest activity in build.
aSaad enlarging these furn. aces and mills
"HeEe also putting down mere railroad
S4'S than in any former years, laying as
%aSa% ~ 10000 miles in ono year. To dc
W. as We were borrowing money in Europe
| %u America by the tens OF millions
N!'0EO'g prices for all sorts OF material
~ t4G selling our paper at u discount to any.
''ay wAowoOld advance us money.
'lese were the days in which Pitts.
OaSh' WheelinSand other centres built or
'uIafEel go many OF their furnaces and
"A mills, aud in which they put debts
upon them that have since proved
HOuo'esome, ant! that now make the
o'VSAno'ders os so inpatient under the drain
w. l. %wPFlces, losses in t,-ade, interest or
TIi., ', 1"u generally proRtle!s operations
i,as, tnS' S'9palienCeis n all the more pronounced
,S'a ,,v,a Tue tact that the stockholders realize
Haisl ,~ts " Is a matter OF years, as things are
sung, s",as, before they can hope to see coy
,1as spI'oA overtakc this immense produo.
Seapacily NV. There is no hope Of blottinp
N~'aGy 's material portion Of tho surplus
%"', %%as,0'neFy that was invoked into beint
,aI'aS ,D, Y 'A' flush times. Owners may CONT
I% ~ S's0rviyeOrperiSh, but this machine
'sns'ns' ltispractically indestructible
oS' "UOui' how many times 1t may chang
TS, TSnetS, like the earth It abides forever
,,s,'.. ."S'sI0'e the only hope istimulating con
sumption ",a isOy learning how to make on
iIi'pS as cheap as possible, and thus ens
Is,a ISaSsl'e S masses who are earning so muc'
l'fa a 'nan formerly in every department {
"'' !" use them as freely as pOsstbl,