The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1880-05-28

Phth. Itmes q ssh.
Since the recent failure Of the Philadel
phis and Reading companies some Gn1iet!
has been manifested concerning its effect
on the local iron interests, but beyonc
the general influence that the suspension
Of such an important corporation usually
exerts over its associates in the same linz
Of trade, there has been no disturbance
Yet while the Reading, failures have moi
had any direct effect upon the iron inter.
ests Of the city, the presence Of q disturb
ing element il noticed
The present Low prices have put an end
to further importation, although stock or
dered "on future delivery" Is still coming
in, which, il is stated, will have the effect
OF further reducing prices The iron in
terests are 50 varied and scattered that, II
Is said, there can be no successful COM
bination 70 restrict the production 70 the
wants OF consumers, and the evil Is one
which VIII right itself gradually.
Samuel J. Reeves, President of the
Phoenix Iron Company, said yesterday:
at Is hard 10 say what the condition Of
the iron trade Is now; nobody knows
Il is pretty dull, but we are expecting
better times before long. Our mills are
still in operation, but not on full time.
There is pretty large consumption, and
this must affect prices. The raw material
has been bought Al high prices and the
finished article has gone down, but that
has all been adjusted, and We think busi.
ness will be better. We have made some
reductions in wages recently-tWo within
each. The men expected it and accepted
without complaint They saw it was neees.
sary 10 keep the works going and furnish
them employment We may have TO
make another small reduction"
John P. Verree, President Of the Phils-
delpliA Iron and Steel Company, said:
The market has been going down con-
stanfly for the last six weeks on account
Of over production and importation. We
can't live at present priees- They were
formerly too high and encouraged impor-
tstions and increased production. The
demand was not equal 70 the supply, and
the result has been that prices have gone
down Is much in six weeks As they ad-
NAaIC4 Al haG RlUNSAAAE nA4 A4gAs46s
will be three or four months before bust
ness reyives and there will be more or less
suspension Of operations in manufacture
during the summer."
Messrs. Marshall & Brother, Of the
Penn Treaty Works, manufacturers OF
gAlviniLed iron, said: "0ur business has
dropped back very much in the past six
weeks. We had more business during
the first quarter of this year than ever be-
fore in orders, nearly all Of which have
been filled. We think the future will be
good Just as soon as trade starts, towards
July, and 90 right along. There hAs-not
been much change in the prices OF our
productions, but they are more or less in
sympathy with the ''black" iron trade.
Our city mills are stopped for repairs only,
but the Newport mills are running on full
time. BY July we expect 70 run all on
full time. Il would be the best thing for
the manufacturers il all their mills were
stopped for six months. The market Is
with imported iron, and it is
an open question II they could secure or
ders even At reduced fg1res-"