The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1879-12-22

Ahead-ThG Changes OF n Year.
The Wheeling manufacturers, acting in
cooperation with the manufacturers Mt
Pittsburgh, advanced the price of nails on
Saturday last from SS.65 to 81 25-a rise
Of 90 cents. The demand for nails for the
season Of the year is unusually heavy,
80 heavy, in fact, that as o matter OF pre-
caution against the uncertainties of the
future, as respects the cost OF ~productio n,
the manufacturers deemed it prudent 10
protect themselves by advancing the card
before the full rush Of spring orders got
in. Their experience in the past in the
matter Of sales ahead hos made them very
conservative on the subject of orders, and
therefore, a a matter OF protection, the
price has been advanced thus early in the
season.
For the present, and for some time to
come, the mills have all they can-do to
ill orders already on their books, and they
are not DESTROYS OF extending their en-
gagements except at q price that will
afford them a reasonable assurance against
the rising tendency Of iron and other ele-
ments of cost. Even at the new card they
will be chary about booking orders for
future delivery, as experience has shown
them that such orders are not desirable.
The new year will open at an advance OF
100 per cent on the lowest price Of iron in
1879, and the outlook is for a further rise
in the next few weeks. Opinions differ
widely as to the price iron may reach. A
firm OF Eastern metal brokers, who have
been quite accurate in their views this
year in regard to the tendency OF the mar
ket, express the following opinion as to
the prospects now ahead:
"The immediate future Of business, iii
admitted by all, is full OF the brightest
promise and seemingly without a cloud,
except in the vagaries OF the stock market.
In Europe the return OF business activity
lS very marked, not only in the demand
from the United States, but also from
other countries. In France the great ex.
tension Of its railway system under the
direction OF the government; the making
by England and Russia OF great military
and commercial railways to and through
India; the building Of new railways
through Northern Russia to the southern
and eastern extremeties OF that empire;
the initiation already commenced OF an
extensive railway system in the empire Of
Japan and OF China, will consume to the
utmost, for many years to come, the iron
production OF Europe. In the United
States the completion OF railways already
under contract, and the building Of eight
thousand miles Of new railways now pro.
jected for the next season, will, with the
greatly increasing activity Of general bust.
ness, insure full consumption OF the pro.
duction OF every furnace and mill in the
United States, and call for large i'm
ports Of irons from Europe. Besides all
this, accumulating wealth, the abundance
Of currency, the large supplies here OF
gold frOm foreign countries, the establish
nent OF specie payment, the growing con-
tidence in the soundness Of the condition
Of finance, and the constantly developing
mineral resources and industries Of the
country, will tend to stimulate enterprise
and business for many years to come"
AS showing how uncertain the nail mar.
ket has been for q year past, in keep.
ing with the uncertainties Of the metal
market, We append below the different
cards that have been issued by the Wheel.
ing manufacturers:
December 4, 1878, the card was So 10.
March %, 1879, it declined to s. Co.,.
July /, it advanced to g 10.
August l, 1t further advanced to 50 10.
August II, itagain advanced to So %.
August %, another rise to s. IS.
September l, still further to g 60.
September 0, again advanced to So 70.
September 10, or in one week, to s. 90.
September 20, in two weeks, to 50 40.
November 10, the largest gap since July,
to s. 85.
December 20, the largest advance of the
year, to 81 %.
BY the above it will be seer that the
latest advance In nails has about kept pace
with the latest advance in pig iron. Iron
has risen from Sl6 to sSS, and nails from
s. to 81 %. This is great revolution in.
side Of a year, and yet there are those who
think it possible that 1880 may witness an
otherfeyolution, almost, IL not entirely, as
great. As showing how uncertain the fu-
ture is, and how short the distance that
even sagacious men can see ahead, we may
refer to the fact that It was only a year ago