The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1882-11-17
IRON AND STEEL TRADE
THOUGH UNUSUALLY DULL NOW
Presents no Alarming FeAtures-rrIttS Low
and Sttil on the hecilne-ManuiactustrS
DO not Anticipate Reduction Of
Wages or a General Stoppage.

PITTsnrRdI, November lG.-A philadel.
phia paper OF yesterday contained an ar
ticlc on the decline in iron and steel whicl,
sketched II decidedly melancholy bluehori
zon for tho iron and steel werld. t
The article in question proceeds to state
That manufacturers arc complaining no,
only OF low prices, but Of want Of demand
for their manufactures. The causes as
signed for this state ot affairs by the paper
to which allusion is made, ure as follows
"rhe first ot these causes was the pool
harvest OF last year, which left the farmers
without money TO buy wagons, carriages
and farm machinery, into the manufacture
OF which iron and steel enters very largely
The second cause grew somewhat out Of
the first by compelling the railroad build.
ers 10 become conservative in declining
receipts arising from The short crops. The
third cause is attributed to tho adverse
balancc OF our foreign trade, which by
drawin. AWAY some SG0,000000 OF our
specie i'll the last eight months llas made
money scarce.
at is quite probable there is another
cause more potent than all three combined,
although the iron and steel men are not
rerdy to admit 1t. This is the great s.imu.
lAtion OF the manufacturing OF these pro.
ducts, caused by the good profits realized
within the pas! few years. III other words,
while the demand has remained about ;.s
usual, or perhaps fallen Off slightly, the
production has gone on steadily Increasing
ont OF all proportion to that deniand.n
In conclusion, til . statement is made tint
as consequcnceoith this condition Of fairs,
there appears to be nothing lett but Il gen.
eral suspension Of business ior II time or a
reduction OF wages which would, uudoub..
cdly, bring on another strike.
1t will be seen by the appended inter
views, however, That although Pittsburgh
manufacturers acknowledge decline III
prices and Il dullness in tnldc they do no.
join in the gloomy forebodings Of the phila.
delphia alarmist.
Mr.. GEll, OF Grall, bennett 4 Co., said :
Ut is true that iron is declining every day.
l don't understand it. Some OF the prices
which We are offered Elst and West won't
pay dollar for dollar--won't even pay for
the raw material. We are offered :. Is
fnst and s. 80 in St. Louis, and this with
metal ut $40 Il ton, would not leave us two
cents. Such prices are really ruinous," said
Mr.. Grail in conclusion, "but don't think
this state OF the trade should be pl plon,ulga.
ted"
The gentleman expressed 10 fears OF IL
general stoppase and contentcd himself
with saying that Le could not understand
why prices are so low.
MIR. Nimick, Of Singer, Ninick & Co.,
steel manufacturers, said that there was no
doubt OF the dullness Of trade, and that
prices are so low that there is a very little
margin, but that he had no fear OF 4 gen
eral stonpn.n, and anticipated no reduction
III wages The consumers seemed 10 be
opcratin. on the from Il hand to mouth pan
and consequently orders came In lust abou,
i'st enough 10 keep his establishment 70.
ing.
Mr.. J: B. Oliver, of Oliver Brothers 4
Phillips, was very busy and would not be
seen, bnt being interviewed by proxy
through the courtesy Of Mr.. Smith, Of he
firm, briefly stated TINT he had never seen
trade so dull, but that he had no fear Of q
general stoppage.
a member Of the firm OF j. Painter (
Hons said that trade was undoubtedly
slow, and although the spring might hrinI:
a revival he was inclined to think that
trade would be dropping during the win
ter. But he also had no fear OF Il general
sloppage, and snd it WIS II question for
each mill to settle alone. "AIy trade may
be dull" said the gentleman, "and my
neighbor's good, because it is his time Of
the year, but fear no general stoppagc."
These opinions, although not encoutas-
ing for Il bright business outlook, it will
be Seen do not nlaro the iron and stcel
market in quite so bad a shape as the FiliIa.