Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1880-04-16
THE NAIL MILLS.
The Present Stop Thought to be
the Last-The Reigning Fig

IL
the Last-The Reigning Fig
ure.
The action of the Western Nail Asso-
citation at Pittsburgh on "Wednesday mas
become, by this time, known TO every
iron worker in the city, and after peing
discussed in its every bearing has peen
dropped as stale. But the state OF the
nail market has an interest which does
not reach the workers, while it is anx-
iously noted by the shrewd tradesmen.
There is an intimate relation between
iron and all other branches of trade, the
latter beating as pulses to the action oil
iron, the heart. The unparalleled APP
preciation of iron during the past SIX
months has been accompanied bya sim
liar demonstration in every branch oil
trade and commerce, ana DOW
the wary merchants. dealers
and speculator are watching, with anx-
ious eyes, the motions OF the great sta
Prices are regulated always by two
ouides, supply and demand and the cost
of production. The cost OF production
will prevent falling too low; the cessa-
ton of demand from rising too high.
Prudent merchants, those whose calcu.
lating fingers are ever on the pulse OF
price, have expressed the opinion that
the boom in iron was an unhealthy one,
and not properly regulated by supply
and demand. Nails have risen to
such a height that it is feared
the descent will not be smooth
and gentle, but will come with crash
that must be attended by wrecks.
Such being the state OF feeling. the
action Of the Nail Association was
anxiously looked for and the result was
n matter of surprise to many. A prom
inent Main street merchant yesterday
told the reporter that he was oil the
opinion nails could not possibly hold
out month longer, and that retailers
were now very shy OF touching them,
not thinking OF buying more than barely
sufficient for present use. -,
The reporter had talk with q nail
man afterwards, gentleman who rep
resented one Of the Wheeling mills at
Pittsburgh, on Wednesday.
"What is there Of interest on the sub
ject OF nails"
"Well we will close down for two
weeks longer, and nails keep at the
same figures, | suppose you know
that"
Eyes. Was not that something OF a
surprise?" :,
40 tell the truth, it was. We Wheel
ing men fought hard for the price, at
Pittsburgh, and won our point. The
others wanted drop"
"Do you think this stop OF two weeks
will be the end or does it prelude two
more and then two more"
"No, | think that will be all. AT
the end OF two weeks believe We will
start up and run well into the summer
and with fair trade"
GLOW about the price at the end oil
two weeks"'
IL don't know, but | would not be
at surprised ii we could maintain prices,
! II not, we can come down a little"
AT the mills shut down because there
is no demand Tor nails, how do you sup
pose a TALL in price can be preventedP
"lou must consider another question
entirely. There is demand. Nail:
are being bought and sold as usual, and
it is only those who do not know
who say there is no demand. Now
when nails were advancing, many
spectators made large purchases ano
now selling out In the larger cities
and especially in st. Louis, this is going
on. What we want is to keep shuI
down until these stocks are lowered
Then we start up and supply the usua
demand"
"Then you don't feel at all alarmed 2
"Not in the least. | believe we viii
have good trade until far into July.
"How do your men feel about thii
continued stop?"
They don't seem 10 care. They have
been working all winter and making
plenty OF money, and are now willing tC
take good rest. They say we are go
ing to be idle in the pleasant and worl
in the hot weather, but all men viii
gIumble little"