The daily gazette., 1879-08-02
From the Press.
THE IRON INDUSTB y.

GREATER DEMAND, HIGHER WAGES
AND BETTER PRICEs--CHEERING NE
PORTS FROM LEADING MANuFAc-
TURERs.
Manufactured iron advanced ir price
again yesterday, making the market 4
price 2-10 cents per pound, an increase
of Ito cent over the previous day. This
is about the fourth increase In price In
this staple since the commencement Of
the year, and as indicating q return Of
prosperity, is of interest to the public.
What certain glands are to the physical
body the iron trade is to the general
community. II is the pulse of the busi-
ness world, the weathercock which shows
whether it is wise to buy or dispose Of
stock, the mercantile signal-ofiice which
indicates, by interpreting the laws OF
supply and demand, the probable future
of the trade world. Therefore, and In
further view of the fact that it Is about
the season of the year when the poiiti-
clans air their views concerning the A.
ways Ito them) gloomy future, some
thing in the nature of q review OF this
commodity will not be without Interest
| even to the casual reader. tf
A tour of inquiry was yesterday made
among the various iron works. From
those who devil in the ore to the jobbeu,
who are the middlemen between produ-
Ger and consumer, the trade was found In
. very prosperous state, and operation ae-.
cordingly jubilant. The present impetus
was given to the business about the mid
die of February. A year before the
price was 9-10 cents. On the lst Of Ju-
ly, 1878, it advanced to 2 cents, the 1st of
June to 2 1-10 cents, aud the LIST Of Au-
gust yesterday to 2-1O cents. This ls
the price for iron 1 inch wide to OF an
inch thick, up to 8 by 4, per pound
That is for the fat grade. For the round
the price is the same for by II inches.
The prices of these qualities are given
because they are the unit Of value gov
erning the sales of all merchant bar iron,
the prices affixed to other grades, either
smaller or larger, are determiminel by
the cost ofthe above size.
A CHEERFUL OUTLOOK.
81 find," said the general manager Of
, , one of the largest iron houses in the city,
"that our trade decreased from 1873 to
1877 about fifty per cent. just before
the panic the ira ie was at lis best.
There was more profit in 1t then than
Z there has ever been since. Well, from
IA to IT there wasn't any change. In
Y 1878 business began to improve . little,
: until now it is Fifty per cent, better thar
in rs. Our force are at work night anc
: day. Ordinarily our payroll has only
9 It's names OH IL now we have 200 em
pioyes. This means the circulation o
d just that much more money, just as tha
s employment of an additional 200 mer
by another manufacturing compau!
It means the circulation of some $16 90
!. more weekly than would have been th<
d case had not iron advanced" v
: "What is the cause of the increase Ii
y consumption 2" ~
' GA revival Of business, necessarily; pi
: iron men wouldn't produce it II ther
!. wasd't a demand by the manufacturer
. the manufacturer wouldn't buy IT II
II couldn't sell it to the jobber; the jobbe
70 invests in it because there is deman
= for it from the retail dealer, AMI the re
: tail dealer purchases because the consu
\ mer needs 1t; and the consumer 10 th
- =, man who builds bridges, railroads. tr0i
y ships, furnaces and foundries. Thus, "
see, this increase means that money
y being literally invested, and tbs goo
y. times, SO far AS iron men are concernes
y are at hand"
u, "Do you find corresponding increaa
N. 'au in those trades independent on IRON"
90 90 ''Yes. Take agricultural implemen
~ for instance. There arc more plow
," shovels, hoes, spades, pitchforks, whse
barrow VS. made than ever before. tn
+ presuppose purchaser. 1t seems to n
=. that this not only indicates prosperit
~. but revival of business of the rig
= kind. The hardware men, too, are ID
A ing in large stocks aud are decidedly hop
full of the future. rlf
"Might not this sudden Investment |
attributed to desire to purchase befoI
iron went up higher still?"
IE Perhaps. But who shou.dit 20 highe
Why should it not, last February, sta
or downward instead of upward No.
). There must be something behind 4
'e' the advanced prlce to rest on and tn
no can only be one thing, namely: Gener
prosperity.
10 THE STATE OF THE MONEY MARKET.
DO you find the money market striu
he snt? -.5l Il
lat No, sir; far from it. In fact our hou
ey never had less trouble IN collecting bill
,at and there has been less percentage
I Iho bad debts than for years past. The
nc seems to be more money IN business a
hg less reluctance to invest it. fI
/ zee, by the way, that IRON. masters
his the North of England contemplate . r
re- duction of employees wages, caused,
of suppose, by business depression?
nd "Exactly; for don'tyou see that If the
~ were doing well they would increase 1
We stead of decreasing the mems wage
eo We did that here on the 2lst Of Juna-
Increased tnem lz3 Per cent, on0 An
raj employed 11O extra hands and work<
ng the whole force over tune. The inoreaa
I'M has been general.' EY.
"There is no fear of foreign compe
ho tion?.'
~ "No, not at present prices; and It
w doubtful whether the price will be rails
ng next month, remain stationary or rreced
m. As to competition. Why iron will hal
he to sell tor % cents per pound to admit
m, competition from either Belgium or Eu
eft land. At that rate they might send
hara nav dutv and sall'it nrOhabIv -