The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1880-05-14

Four Cents an Average RRte-RRnge oi
Prices OF Iron for Nineteen Consecutive
Years.
Pin,baVh Dispatch.
The Iron Ags has been led TO make some
investigations relative to the price Of mef-
chant iron at the two centres-Philadel-
phia and Pitbburgh-in orderto ascertain
what has been the average OF prices for a
number Of years. We are aware that such
figures must be used with extreme caution,
and that any reductions made from them
will be at best only indications. There
are many circumstances and consider
atoms that existed In these years that
must be known to give the figures their
exact value as indications. The years
1858 have been chosen, as they seem to
constitute natural period, 1866 marks
the beginning Of period when merchant
iron went below three and half cents or
S7S40 per ton, which price has been as
sumed as about the average limit OF the
advance just made; 1873 marks the begin.
ming OF similar period, 80 that this space
OF nineteen years fills out a complete cycle
Of prices. We also have complete data OF
prices for these years.
According to the very complete tables OF
prices OF bar iron in Philadelphia publish.
ed in the report OF the secretary OF the
American Iron and Steel Association dur.
Ing the first eight Of the nineteen years,
ls55.lS7S, the average price Of iron for the
whole year was below 81 cents per pound,
or S7S.40, though at some dates the selling
price was above this. For the last eleven
years OF this period 1t was above 81 cents.
The average price for the first eight years
was s66.46, for the last eleven years,
1885.
In the West, from January, 1856, to DC.
taber, 1873, space OF eighteen years and
uine months, or 225 months, there have
been 102 months in which iron has been
below 3lcents, and 122 in which it has
been above. During the years Ia which 1t
was below 81 cents, but little iron was
sold at less than two cents, there being
one case we have heard OF in which il was
sold at II cents On the other hand, there
we're years in which the selling price Of
iron did not 90 below five cents. In this
period Of lS3 years there were five consec-
utive years when iron was Ct to q cents,
anu lVI lN0Obuol SouscSuLIN1 1CdI5 ~ Wdo
four cents and above.
Just what these figures indicate, our
readers who are in them can determine US
we'll as We can. But they seem 10 imply,
even when all the circumstances are con.
sidered, that the 81 and cent price for
iron is not so high price as some have
assumed TO consider 1t. 1t would also be
easy TO show that in at least two instances
during this period OF nineteen years, the
advance in prices was as rapid as it has
been in the last twelve months; SO that in
this respect the latest advance is not ex-
ceptional at all, but rather in accordance
with the history Of the iron trade.
1t could also be shown that in the his
tory OF every advance there has been q
rise, check, and further rise. The ad.
vance in the West has received check
and subsequent advance may be expect.
ed, but how soon we will not undertake to
say. II those who are hopeful Of improve
ment need any encouragement, they can
probably find it in the figures given above.