The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1879-07-07

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TIKI IRON TRADE.
Day IL DnWnInE Pig Iron showing More
Life Than for Many weeks PaSt-Oid
Rails doing Up In I'rIcc-The New he
phosphOrIxIng Pr0ccAS-The New River
Region.
The Pittsburgh Manufacturer Of last week
speaks more encouragingly OF the iron
outlook than for weeks past 1t says:
"The favorable indications noted last
week ure even more marked than they
were then, and there is cause TO believe
that the long.looked.iOr and hoped'ior im-
provement in the iron trade generally has
commenced TO show itself.
The Manufacturer says that nails are
scarce in the Pittsburgh market. II says
that MS high as - 10 is reported for occa-
sional car load lots.
The English correspondent Of the Ndn-
uCaclurr says that the new discovery
whereby phosphorus is gotten rid oil
in iron ores hitherto unfit for Bessemer
uses is staggering the English iron trade.
The manufacturers over there realize that
the production OF iron in this country will
he immensely increased by means OF the
now discovery.
At Buffalo, y. V, the Hardware manu-
facturers are running steadily and say that
they experience no Slackness in trade.
W. Il. Belknap Il Co., Of Louisville, KY,
say that the rolling mills continue very
full OF work and profess to believe that
better prices will spon BE- reached,
The new Pittsburgh and Lake Erie rail.
road Is bringing Lake Superior ore to
Pittsburgh and supplying the trade by
means ottransfer bNrges-the same as the
Tuscarawas road will do here when it
reaches the river.
The Valley. I'iwioim, published ut
stanton, is elated over the new dephos'
phorizing process. 1t says:
"The Importance Of the immense hem.
attic ore deposits OF Virginia is augmented
in view Of the recent discovery OF the de.
phosphoriziug process, by which the irpn
products are converted into Stee.iron.
This invention is demonstrated faCt, and
is being practically operated, not only In
England but in France and Germany. 1t
must soon play an important part in
America, nNsmuch ns steel for railroads is
becoming Of general and soon will be oil
universal-usc, and give increased value
to the iron properties Of Virginia, where
much Of the deposits Of ore are OF the
the hematite species, containing more or
less Of phosphorus"
In addition to the Virginia ores that will
be made available by the new process,
the TIyinian aludcs to the important part
that the New River, W. Va, coke is bound
to play in the iron manufacture Of the iu.
ture. 1t says:
"The New River coke contains OF car
bon, 1885 per cent; ash, j.S5; sulphur,
0.39. COnnellsville, Pa the most fGvora.
bly, known in this country, SAG OF car.
bon, ll.W ash, 0.G0 sulphur, and 0.4O
water. Durham (EnglNnd) coke-the
greatest coke section in the world-02 81
carbon, $50 ash, OF sulphur, EC., &C.,
showing that the coke manufactured from
the New River coal is superior to that
even Of the Durham coke, and also OF the
Connellsville.
"The character Of the coke, taken in
connection with the rich iron ores OF
EirginiN in close proximity to the coking
section, must attract attention sooner or
later, Us presenting the most advantageous
point for the manufacture OF cheap iron
and steel. The attractions cannot be over.
stated; they are unequaled on this con-
tinent; and all that is wanting is for others
to know the iNcts as they exist, This will
come in time. The increasing demand
for iron and steel products will necessarily
force the minerals Of the Nirginias into no.
tiCe and invite Investments, for it is here
where pig iron can be manufactured the
cheapest, and it is here, MS the conse-
quence, where business enterprise and
capital will seek employment.
Old rails are reported very scarce in the
Pittsburgh market. We quote from the
Manufacturer US follows:
"The only sale We heard Of was at $23 so.
We saw u telegram from party in Phila.
del phia offering to deliver here ut $27 u
ton. This market depends upon the West
and South for old rails, but the unnaviga.
BILE condition of the Ohio River makes it
impossible to get them here at present by
that route
Philadelphia advicos report the demand
for American pig as fairly active, and the
tone Of the market very encouraging. In
regard to old miIs We have the following
report:
at is pretty certain that the full $4,000
tons referred to in lust weeks report have
been sold, but the greater portion II not all
have been taken by Eastern buyers on
speculative account. hatsupplies there
are available ut the moment are in strong
hands and prices seem to be tending up.
ward. Bottom figures now are 81 here
and S25 delivered nj Philadelphia. About
1000 tons have been sold for the latter dc.
livery ut $2l, and subsequently $500 tons
ut SIS"
This report indicates growing scarcity
Of old rails and an early increased demand
for pig iron.
Taken as a whole, the advices through.
out the country in regard to iron are de.
ridedly encouraging. The dead point has
been passed beyond reasonable doubt.