The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1880-01-12
RON


~ tN
n. Y. Bulletin Of Saturday.
Operators are not only full, but are on
the increase, and for theseason OF the year
business is certainly very encouraging.
All accounts from the interior continue to
indicate hat %consumptive wants will be
large, and u liberal and general distrlbu-
ton Is confidently calculated upon, Val
nations continue to harden all along the
line and the general tone Is OF buoyant
character.
The Chicago Times Of Saturday says that
nails are firm in that market at S. % rates,
and iron, steel, hardware, cutlery, tin
ners' stocks, &c., are active at stiflening
prices.
EASTERN IRON MARHEr-PRIcEs MORE IN
SETTLED THAN EVER
N. Y. Bulletin Of Saturday.
The market Of American pig is evident
lyin a more excited and unsettled condi-
ton than at any time since the activity
has been under way. Holders having
supply available for prompt or even near
future delivery are generally refusing TO
sell at any price just now, and TO all APP
perances buyers are beginning 10 deem 1t
a charitable act when any one conde-
sends TO sell them o little. A quotation
that will hold good from n hour to an
otheri is something impossible to give, the
furnace companies and dealers alike re-
fusing TO quote. Among sales made are
some small parcels OF prime No. ! y
Lehigh brands, sggregating $50 tons at
40 90 here; 800 tons No. ! Crane at 80 90;
100 tons do at IS so; 900 tons, mostly
Allentown, at 81 so; 500 tons No. 2 X.
Q.ehigh brandy at 81 90; 200 tons do. in
lots, 80 00a3S 90; 900 tons Thomas gray
forge at So 90 at furnaces; 500 tons Chest
nut Hill gray forge ut 80 90 at furnace;
100 tons (brard not %mentioned) at 81 so
here; 20 tons Eureka charcoal at so 90 at
furnace, and 700 tons Baltimore charcoal
a, GO 90 at furnace.
WESTERN PREDICTION IN REGARD TO II
IRON Room.
Chicago Tribune Of Saturday.
OF necessity there must be a limit to the
price which the consumer can afford TO
pay orion and steel. When the sudden
demand has been in a Measure supplied,
when existing orders, extending, perhaps,
TO May or June next,shall have been filled,
the high prices will cause a serious reduc-
ton in the consumption until the prices
recede, When this decline in the con.
sumption OF iron and steel, because OF
their excessive charges, takes place, the
manufacture OF all other goods in which
iron aud steel are employed will also de.
cline, and for the same cause. The de-
cline in consumption because Of enormous
prices will force areduCtion OF production,
and a reduction Of the cost Of production.
The prices OF foreign iron will, OF course,
fall first. Their margin between the pres
emit prices and their cost OF production Is
too.great 10 resist a falling market. For.
elgn iron and steel will pour into the
country at such reduced prices as the mar
ket will bear.
Then will begin the troubles Of the men
who have run up tho prices ofiron to such
~extrayagant rates. They will have to re-
duce the cost Of production. This pro.
duction will be resisted at every step by
The workmen, and the persent wages will
only be reduced through the longand dis
astrous processes OF STRIKES" and "lock-
outs" closing OF mines aud OF mills, and
Of furnaces and iorges. In the meantime
foreign iron and steel will supply the mar.
ket, and the manufacturers who have lev
led their advance Of 100 per cent in 1870
will find their trade taken from them, and
their operatives occupying the dis.
tressed condition Of the foreign iron
workers q year ago, locked out by their
employers and vainly attempting by long
strikes, and labor unions, and working.
mems organizations to resist u reduction
Of wages. II Is beyond all question that
before the end OF 1880 there will be such
a falling off in demand for iron and steel,
or sucha reduction Of their prices, as to
compel q general reduction OF wages in all
branches OF that industry. When that re-
duction Is attempted the manufacturers
who are now reveling in the great boom Q
ex~travagant ond extortionate prices will
find that q falling market Is natural &c.
ouence Of q rise pushed beyond all reason
cause, and that this falling market
brings with it serious disasters, not easily
avoided or ~remediGd, both to employers
and employed.