The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1879-04-02
I'M MAlIoNlNa YALLRY plsrmcr.

YouSosTowH, o, March 3l-In Bessemer
pig iron there ls an advance from 81 to g
per ton, mainly due 10 the fact that
several furnaces on BeSsemer, through, &C.
cident OF other causes, have gone out oi
blast. Forge pig is really no better In
price, but is In better demand. In manu-.
tactured iron andnails there Is no improve.
ment in price, but some increase In de-
mand. Were there not so many more
mills and furnaces than Is required osup.
ply the markets, We would doubtless have
q good demand atremuneratiye prices, but
as 1t Is, We must expect low prices on both
pig and bar until many furnaces and mills
are destroyed or the demand largely in.
creased. JonN ST4MBAudH.
PORr WASHINGTON, O., March 3l.-In
our section q feeling Of security exists
among iron producers. six. months ago
we felt that the worst was over, and few
expected greater improvement than that
which we have experienced. since that
time. Authorizations Of future prosperity
are expressed witha greater degree Of con-
fdence, although many Of the furnaces at
present are and may remain Inactive for
an indefinite length OF time. Unless
something unusual occurs, the future will
be slow but reliable. OF late years, in.
ferior grades have been in demand; now
the better grades are lbeing sought alter.
and inquiries from consumers are greatly
on the increase, especially for pure black
band iron. WV. RENNIE.
FROM PITTSBURGH.
PrTFs6URan, March 31.-In many re-
spects the iron trade OF Pittsburgh is in
more satisfactory condition than for years
past. The recent opening OF a new freight
route to the Northeast has placed manu-
iacturers in better condition as regards
transportation, both OF raw materials and
the finished product, than ever before.
While there has been no actual improve.
ment as regards prices OF finished iron,
the advantage thus obtained gives 10 fa-
vorably located and well managed works
a narrow margin OF profit at present rates.
which is regarded as decided gain over
the state OF affairs year ago. The de-
mand for manufactured iron is lively and
increasing, but ut the ruling prices manu-
iacturers do not care TO accept large orders
for futare delivery. 1t is regarded as GER
tain that prices will 90 no lower, and the
indications are that the consumption will
exceed that of 1873, in which case they
will be likely to advance somewhat.
The nail trade is rather less active than
usual at this season OF the year, as some
OF the manufacturers will not take orders
at present prices. Rather large volume
OF shipments are made to the South and
West, portion OF which is in first hands,
as manufacturers wish to improve the ap-
portunity of present cheap river freights.
In the pig iron market forge and foun-
dry irons are offered freely, while Besse.
mer irons show strong tendency, with
an advance during the last week Of fifty
cents per ton.
The steel trade is in an active and very
condition, although prices in
tool and spring steel do not give as wide a
margin OF profit as many manufacturers
would like. The prices are firm, however,
and the tendencyis strong. Steel rails are
very active and firm with the works here,
and sold for several months ahead Of their
production.
Taken all in all, the prospects Of the
iron trade are more hopeful than at any
time since 1873. Fer six years the iron
have labored under the severe
weight OF discrimination in railway
irelghts, market prices declining to below
the cost OF production, and constantly re-
curing heavy losses from bad debts. That
the iron interests have borne up SO well
under these terrible disadvantages is
evidence Of strength and vitality. Now
they are all removed. Freight discrimina-
tions are terminated by the full and active
OF the four trunk lines.
Prices resting on firm foundation, and
almost total absence Of bankruptcies for
past six months, afford grounds for hopes
OF steady and moderately prosperous
trade in the future. As noted prices have
an upward tendency, but the relative pro-
portion OF supply and demand prevent
more than the exception of a
moderate appreciation in values.