Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1879-08-18
THE IRON TRADE.
No Chance for Inflated Prices,
but Probability of OVer-PrO-
ACKNOWLEDGEMENTS in the
Trade bUt Not Much Increase
i'm Profits.

Trade bUt Not Much increase
i'm Profits.
The BaNfpi of the Iron and Steel As
suy'a,jDu this week haS lengthy cjIto-
rial ON the improvement OF the iron
trade, which contains many valuable
hints and much useful information.
The article is one upon which reliance
may be- placed, appearing rs II does in
the official publication of the iron and
steel interests. The writer at first dwcls
at some length on the eruption of in
formation with which the leading daily
newspapers oi the country have recently
broken out concerning the Improvement
i'm the iron trade. lie also makes the
point that this information might have
been given months AGO. Below We
,.vr condensation OF the balance OF the
article:
No NEW THING.
/. iron trade. commenced 10 revive
i'm lS-S. and not in 1879. The country
wair more pig iron, more bar iron, more
rails and steel in 1878 than in lN17. In
January last We made public announce
mrut OF this fact, and on the 9th day OF
May our annual report gave the Ctlicla.
figures of last wears production OF mon
aut steel. amt also showed that this
production. greatly enhanced beyond
that ui l~71, was m response % lcgitl-
mate cuu~umptivc demand. The great
dai.ics have now Just made the dis
r,yvry that q revival m the American
.,.,. i,,s ,,.troIIv taLrn u,tr.. aut
..:,i, ,l,.,;, ,.,.tIi,., Lr,J Iirr, .,- ii tI,.v
, III. t.,,,,J .7.,,,,.,J. .i,,, r,.v- Thav
..rI -. t..,,,.i .,r,t s,1p,r what +.
.'..'. ~, ,l,.. ,.,,lJ AR ,l.v sLrulI
~, ~. ,r,.ir sn much ado over their
.r-..,.ry They qrr doing Larm-im-
mons, harm. but this will not worry
,T.ir. ...if.,r, Their business Is t0 give
tL. new. even If il should be six
months urI and older.
.....,...,. ,...,. ,,.,.,., ,,.,,r, ,.r,,..r..
~, % ;...,i I.,,,,,,,I 60 ;r.,,
t''' 'i'' -. ,,',':;.I 81
80 ,,,,.....,, ~ r,-S EI. L.,, con-
.' ''', -, 80
'''T,,' '" TO- - ~ ''',.,. Il
'" =. d, .','' 49, '., ,,'i';
'''"'l ".-'''l..''',...'' ..,.,.., ID, ,,,.',.,
'.."t t'"' '' ,'" ii
..'''''' ....., ,,... -. ,rr
,..-.' l....lL',,...i r,.,,r.I com.
.''N''0''' - ~ - ~, -,
>1f .v"y. -. ',''S III, III - Iii, ri,'t
,'''e, l"' I'"' -. '.
nave '."- .'',' ''''0 ''.' ,'-,'''' IN.
.',t.,.l', ~ =, ~, t,i.,,';,,'. -, -
II 80, - ~ i;..I.,.,,,. 80 -, II;,.,
''r,'''l - ','' '.'I D.. ., -,
..'.',, .....', ~, ,'a,,. - ,,
.'',,','' ,..,, ~. -. ~. ,,,.,j,tr
..f;,,g.,,..l ,,,i,.... f.,r ir,r with mo-
r..;, o., tbs c,uSunptIye demands of
,.... ..riufr,.
,.-..r,rfrrry OF OVER PRODUCTION.
7. fs.r.a;u ,u Us. lnd We hope o. all!
,,r. r,1l these lines. that there can be
fr~, -1 much of q "buum w aud no more.
ru-r. Is r,, arurrciah'c tDrcim demand
for our iron ami steel. and We have fire.
rr.rtIv explained why thcr" can De-
none. lis a consequence. practically all
oi tH,, IRON and steel We make must tiud
"a I.u, market. and this market can alb
s,~n only limited quantity of these
products. IL Is possible 10 ascertain
with trlrrJhIr accuracy how much IRON
lud steel the country can consume this
year ur tur next year bv recalling the
amulu, ui each which il actually dij
consume I'M mthrrXceptiUudllv prosperous
v.gr, immediately preceding the panic.
Iro these figures We will not now en-
f.r. hrt We would imurrs, upon ull the
vrrnfn, a-eIfr,t ovcr-produciipn which
tlrv plainly convey. We have already
authorized the statement that the coun-
try will this wear produce Us much cru
rj1lr steel anil us many rails as IL did i'm
either of tine years 1872 or 1873. There
I, limit of production beyond which
our iron anil steel manufacturers cannot
gf present safely 20. An effort 10 push
NM the price, oi domestic iron and steel
E..yYnd the limits which We have ini-
,-Ff,.I Will unIpubtrdlv react with dam
g.,su, results. both upon prices and pro-
du,tion. lust as tine attempt last spring
tp advance uurca~pnahIv the prices
of domestic wool has already reacted,
prices to-day being much lower than
they were then.
THE QUESTION ug PROFITS.
We would just as frankly caution all
men u.,iu~t the formation "t erroneous
opinions concerning the profits which
these manufacturers are now receiving.
Tr. r.I,..frt..s I'm urirp~ since last wear