, 1881-01-18
THE "BOOM" IN IRON.
Itx SubxIdence-4A lkcltiarkable Xcar In
tts Iron Trade.

Itx subxidence-A lke,t,arl<able Ycar In
the Iron Trade.
Tiny 9Inlra, Jun, II.
The past year, to tho Iron business in thia
vicinity. et,,braccs porto. IN which tho market
WIS dnifgcrHisly stimulated, tho boom which
prevailed In tho Gu Filler part sen.ltn9 prtces far
beyond tho ll,Ie Of safoty. Novertholoas theirs
has boon Il continual nnd llrge lelna,l4. rrlcrA.
which previous to early sunl.nGr In l5tD hld boon
remarkably low, hrgnn to appreciate III August
Of that year and advanced With rApEA stri1 %.
LII Fabruary Of tho current year bar irpn waa
worth four cet,ts per pound. tho highest point
touched. Foreign competition then set In and
WIS so successful that It knocked tho bottou,
out Ut the bonn. anl AtnertcAn manufacturers
w9ro forced tu retllieu tho price Of
bnr Iron to two and onc-hAlf cants per
pound. Tho buDul Ia tho trota business IA cs,n-
sldcred oll0 Of tho n,ost Insane things that over
Unopened In the tr1slc, nnl tho rc.sction which 1t
brought wRs very l4,naKing 10 tho Iron fnterests
and ull others that depend In an important do"
grco upon lrun production anl prices for thor
prosperity. Manufacturers vault hMyo becn
bettcr N1f II tho Mtoui had lpvcr occurred, III
tho fall In price and incrAased cost Ut pr1NlAc-
tlon wMs very disastrous. They now hope fur Il
good aud steady demand ut rcusonHbsu and uni
turn prices. Locking buck tho folly Of rushing
prices Ia EeGtl, aH any incEcAsa IN tho Gust Ut iron
over two and uslo-half ccnts per Inons,1 opens
tiull for foreign competition. Whom business
Improved 50 rupdy lust your tho snnnufnctur-
uss seemed tu think tley bud no onc c'st Il, con-
suit hut AMcr1cAh producers, hut tho largo I'M
p0rtattons OF forcXn manufactured soods
taught Amrrteatis much needed luBsos,. WlIt!o
tho great appreciation la prices waa gt'lng
oa III pig.lson she utmost activity Has
Immediately developed IN tho producing
&llytsicts. All furnnccs that wcro in OPP
orltion wcee pushed Il, tholr full capacity. ~
tho burden works arld tho MILLS Of tho Albany
& jtenasolner lr0n and 6ieui Association lu-
prs,ycnents a1lA additions to i'crunsu tho pro.
duciug capacity hayo t,een continuous, aud rs Il
result u larger force Of hands has bcoa given
employment and tho product ton !aFgoIy i'll
oreascd.
Tho current year haa been QUO Ut unex-
anplud autlyfty In manufactured iron. tho III
creased product In tho United States bolug
estimated ut hoarly 75o 0u0 uet tons lit uxcess Ut
tho previous ycur. Tho detsiana for u tIme waa
utmost nnIttnited. 1uyrrs tuarllx at!ll further
nuyAtco I PRICES, urtlvl vi Ihreo and futtr tlnlrs
the Atn0uut ihcy Wuut4 AAtv purchased under
ordinary Elruunlstanced- Prtur tn July, ia1t.
lnprchant ru!i sold III largo IuAnt!ttes Ut tltl
ul.d FL l,ut loJ poulnIs. earl suy With fUrcrtl
sMrs lnutlo ut tL.s-t III {la. ~ abuvt statttl,
in February, l1'A. pllas hal swttt to Il, though
comparatively ftW baluY werc lIuiu ct tllAe
praco. Thou tho danger fr',M furelxn
importation nlAl0 ltsaIt manifest. 4ua
~ result deelinu In pries's fn.
ihs ulyancl. III tl4U c!tro os thu cnn,,lIerclaE
yenr 1ar-!st,A hHd deeli!!Ga Il? fsn. though thy
asking pslce Was .5l The lcellnv sunuwhHt
1e+setit.l the domand. which IL stl!! large, with
every prospect OF continuance. To lie mills