Clarksville weekly chronicle. (Clarksville, Tenn.) 1873-1890, 1879-08-09


When the present year opened
the prospects for the iron and steel
trade were about as gloomy as could
possibly be imagined. The demand
was at a minimum and prices were
lower than ever before. Elem of
the world, gifted with far-seeing
faculties, when asked if there was
no hope for the trade, shook their
heads mournfully and expressed a
fear that the history of the past
three years was to be repeated in
1879. Fortunately, however, their
gloomy forebodingS have not been
realized. The tide began to turn in
February, and every succeeding
month has witnessed a growing
and encouraging Improvement in
this great industry. Secretary Jas.
NJ. Swank, of the Iron and Steel
Association of the United States,
the statistical bureau for the iron
men of the country, was asked yes
terday to give resume of the pres
ent condition of the industry. In
response he remarked {:
"There will be more iron and
steel turned out in the United States
this year than in any one year in
the annals of the country. When i
speak of iron and steel / embrace
categorically more rails, more bar
iron, more Bessemer steel and more
crucible steel. What is better, this
large production is in answer to the
demand, and manufacturers are
not, as in many past years, piling
up stocks in order to keep the fur
naces in blast. Prices have not adj
vanced to any considerable extent,
yet they are from ten TO fifteen per
cent. higher than last fall, when
figures were lower than ever before
in this country. Our present con-
| dition is decidedly encouraging.
"But what of the future 20 was
asked.
al expect that the activity which
prevails to-day in all branches of
the iron and steel trade will con-
tinue for at least year to come.
Nearly all the favorably situated
rolling mills are in operation, and
numbers of these mills, as well as
| furnaces and steel works, have ord
ers ahead for several months to
come. But let us look at some of
our latest reports. Remember that
/ this is midsummer, generally the
dullest time of the whole year. Yet
! New York reports an active de-
/ mand for the product of the furn-
ace; and a good deal of business is
doing in old rails. Away up at
Pittsburg the market is strong, pri-
ces are firm and improving, and
many holders of stocks are moving
cautiously or else holding back in
anticipation of an upward tendency.
! In Louisville our correspondent
SAYS that the volume of business
far exceeds that of former years at
this season. Tennessee has been
the last place to teel the effects of
the revival, yet our report from
! Chattanooga shows that an actual
advance in the price of both pig and
| manufactured iron has commenced
there, that contracts can not now be
| made for less than five to ten per
cent. advance on the prices OF a
month ago, and there is no lack OF
orders at any of the works. All
these are strawS showing which
way the wind is blowing"
The condition of the Philadelphia
market at the present time is high
~ encouraging. The demand foI
pig iron and muck bar is very act
i've, and lots are taken as soon as
offered. The makers of structural
iron have their hands full and pros.
poets of great activity for some time
to come. The amount of business
done in sheet iron in this locality
for the last six months is without
precedent, and a heavy fall trade
combined with a general advance
in prices, is anticipated. The same
applies to bar iron. A considerable
amount of business is being done
in steel rails. High prices could be
obtained for present deliveries, but
the mills have their capacities en-
gagged to such an extent that order;
can only be taken for delivery
many months hence. The demand
for the delivery of iron rails during
the next quarter is very urgent
The scrap iron market is firm anC
prices are tending upward.