National Republican., 1880-01-03
AMERICAN IRON TRADE.
a Review of the Past Years Bust
ness History.
A Astonishing and Unprecedented Revival OF
business - And Yet the Demand is
Greater than the supply-Large
Importation of Iron Ore
Railroad Demands for
tho Current Year.
Revival IN the Iron Trade of America.
4 Wonherfnl ENhibit O L Kmsincsa.

PHILADELPHIA, JAN 2.-Tho following is
from an advance sheet of the bulletin of the
American Iron and Steel Association
"The year which has just closed wns a most
remarkable year in the history of the iron
trade of this country. When completed statis-
tics are received it will be found that we
made more pig irou more bar iron more rails
and more steel than in any previous year.
The advance in prices during tho year was
also without precedent To speak moro
specifically, the percentage Of increase in
prices in all lines, except perhaps, in Crucible
steel, was greater In 1879 than In any preCed-
ing year. if allowance be made for the premium
on gold during the war, the advance in 1879 be.
ing on Il gold basis of values. The importation
of pig-iron, old rails and new iron and steel
rails during the year were unexpectedly large,
recalling our experience before tho panic of
1873 while our importations of iron orc were
not only exceptional in their magnitude, but
Ihonominal, amounting to about five times as
many tons rs were ever before imported in one
year. But the most remarkable fact in con-
nection with the history Of the American iron
trade for 1879 remains to be stated. NOtwith-
standing all the activity that has been mem
toned, the demand for pig.iron, iron and steel
rails and iron ore was not met, and many
orders have been Carried over to the
new year, which consumers sought in vain TO
have filled in 1879. The business embraced in
the orders which were necessarily deferred to
the new year amounts to n very large percent
age of the actual consumption of the old year
Such u sudden aud powerful stimulus to the
demand for iron and steel, aud following
period Oi great depression, was not expected
by any of our manufacturers, and to the OK
element caused by the suddenucss Of this de-
mand the rapid advance in prices is mainly due.
The estimates of the production in 1879
show n total Of 100000 tons, against ll56,63l
tons in 1879 This improvement in tho iron
trade is attributed principally to the increased
demand for rails for new roads tho demand
of existing roads Tor rails, cars and locomotives
to meet requirements Of increased business
the New York Elevated railways; tho manu-.
iactnre OF steel wirc fencing aud iron tanks
and pipes for oil regions The article con-
cudcs:
Experience has taught us that it is not safe
TO pruphesy what any new year has in store
for the American iron trade. We will there
fore simply state what probably every pei son
in the trade already knows, that more fur
naces and mills will b. running in 1850 than
III 1879, and that in consequence our iron aud
steel production in the now yCarwill be greater
than III the Old year. After the 1st of April
IL will be iuty equal 10 the demand III all
lines. Whether the prices remain rs high rs
they are OF 20 still higher, no man can iind
out, nor whether we will build more
railroads IN 1850 than in 1919, IL
seems certain that our importltions of iron
ore in 1850 will ho larger than in 1879, large
contracts having already been nude. Prob.
ably 5ODOJO tons will be imported In 1850.
We regret that this should ever lave become
necessary. Wuc,nor impOrtations of iron and
steel shall increase in tho new year depends
partly on the COuIso OF prices NJ home, aud
partly on the action Of the present Congress.
The steel blooms bought during 1879, uggro.
eating considerably less than $1,000 tons, nave
not yet arrived.