Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1880-04-08

manufacturers by exercising little pa
tience and making little concession
might have prevented the large loss TO
themselves, and TO their workmen as
we'll
THE l,ULL IN THE IRON TRADE
Quite a scare seems to exist among
the manufacturers at Pittsburgh IN re-
gard 10 the outlook in the iron trade.
The papers Of that city are full OF specu-
lations. opinions and interviews discuss
ing the situation. one OF two Of the es-
Adjustments have shut down and others
arc in trouble with their employees. But
athoroush sitting Oi the opinions and
facts disclosed, does not justify the con-
clusion which seems t. have been
reached in some quarters that the stu
alton il very critical, bat 1t seems To DO
morn of a disappointment Of the high
expectations which have grown out oil
the great boom manufacturers have
been enjoying IN the past lew months
and settling down To what may DO
termed legitimate business.
The cause OF the lull, while quite nat
uraI in itself, Is accounted Tor by the
manufacturers on various grounds.
Some attribute il to the bat roads be-
tween the various distributing points
and the inland towns.
Others say that II is the result OF the
extraordinary activity IN tn" beginning
Of the year, when buyers under fears OF
an advance, bought all the stock they
could handle, and now have their store
rooms choked with stock aud since the
advance in rates, they find the market
without buyers,
Others again claim that the employees
arc bleeding the manufacturers to tho
last cent, that the latter are paying their
men on the per cent. cart and selling
ut - cents, aud thus cannot afford to
sell in small lots
The most plausible aud generally ac-
ceptcd explanation of the depression,
however. is that the establishment of
the four per cent. card has done the
mischief Leading manufacturers con
cur in this opinion and some OF them
say they would bo glad To dispose OF
their present stock at three cents and
would deem the trade fortunate 1t they
were not compelled To Accept that rate
before long. The advance OF the card
10 four cents attracts large lmportatlons.
The importers stock up the country and
thus there ia an excess.
Some OF the Manufacturers seem
ready to drop the card rate at once to 81
and as soon Us possible get down to
three cents, "A a means Of shrinking the
imports and getting back to legitimate
trade. They believe there Is plenty OF
room for good, healthy trade at legIt'-
mate prices, but no margin now for any
further speculative movements.
Summing up the yIcws ct the manu-
hclurers, there does not seem to be
anything very serious IA the situation.
The fact IL simply, tuat the boom has
been a little oyerdone, Just ~ Il VAS IN
the nail trade, and a luii has succeeded
by falling OF in orders. The heavy
advance has prevented many corpora
tious from carrying out projects unde!
contemplation, and many enterprises
have been postponed until the prices
should be more favorable.
The majority Of the manufacturers
speak hopefully Of very fair business
during the spring aud summer, but they
do not expect a business a. active as
during the winter months.
There il but little doubt that the card
rate will be forced down 10 81 or even
3 cents. This is being practically work
ca out by the action OF some manuiac'
lures already cutting under and disre-
gariing the action Of the Association IN
advancing the card.
when this point is reached, 1t will
then be 4 question for the nail mills to
determine whether they will not have to
bring down their card to correspond
with the decline in iron. That they
have already anticipated difficulty IN
maintaining present prices, Is ev'need
by their action in susPcniing operations
TO reduce their supplies. II they are
driven to this course With iron at hour
cents, will il not rcuier the situation
more difficult when iron drops 10
three
There are no impOTia,iOns OF nails as
Of iron, and it would appear to be all
sufficient that our mills should shut
down occasionally % reduce the supply
in order to maintain the price, but the
past history Of such expedients Is that
they ultimately fail through strong
competition and the eagerneSs Of manu-
iacturers to get their stock into The
market ut such prices as vail sdord them
n living profit. Ii Is almost an inPossi-
tslity in this country to ciicumvent the
natural operations OF the law OF supply
and demand-that is TO say, prevent
commodity from getting into market at
fair price for which it can DC produced
There is always commotion and angry
competition until a level Is reached.
There is not that sense Of security and
permanency among manufacturers to-
day, that they would like 70 feel In re-
gard to the future Of prices, and doubt
less they would be better satisfed to
have a settled market even II It had to
b reached through q decline In prices.