The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1882-11-21
AESNEMEis SrEEI,
HE ROttom Falls out OF The Ainrkct-
a' The Causes Leading Thereto,

-'.S 0ossosu nav WIZ vi lup NNufRCI-
The Causes Lcndinx Thereto.
sT. LOUIS, November g0.-ln an inter.
view published this afternoon by the Post.
Dispatch Ethn, A. Hitchcock, President oi
the st. Louis Ore K Steel Company in,i.
mates that the Vulcan Steel Works OF tlat
company here will probably close down on
Decembcr lst and remain closed all mex,
year. aa..,. A
Mr.. Hitchcock gave the following inior.
nation respecting the steel rail interests Of
the country. lie said the price OF steel
rails had fallen olf % per cent. It was
$40 per ton, it is nov SIS. When rails
were worth $50, pig iron was sold from,
Sss5 90 to SEQ per ton. The iron men now
want S2l. have offered these men SsO
per ton, but they will not take It. It il
altogether idle 10 talk about keeping the
Vulcan establishment at work unless
we get pig iron ut $50 per ton.
Now the demand, MS close us can get ut
it, upon the next year, will DO about one
million tons. Call it so per cent Of the
steel mill capacity and thAt shows TINT il
would be impossible for all the mills to
work full time under tho most favorable
circumstances. Bnt as fur as CONSUMPTION
is concerned Il Is yerv Ilif}ienlt n f.nra 'i'
do not believe the railroads tnow wh,t
they will want until after tLe;r o,mM"i i
balance sheet. At best there viii he i;,.in
building, There will. he No ,r.n,. ,I
lines built into Texns ~ Mac "
leo. We will hive IN d.na.,,
on the reconstr,ct;on ND 'elenu :I
Of the roads already buiIt. There viii ha
4 good deal OF this done. but not nnorn,, W "
take more than 20 npr cant nj th. nroro", ~
capacity of the steel mills. Jdon't %hol;ane %
Congress will make auv motcr;a, c,nnae ..e
in tie tariff. The duty on meals ,n.S f. -
lowered, that is expected I believe Int
the condition of iron cnts '' ,os,. ou.
little figure one wav ~ "r 'I,y ,hys
other, II by the 1st of Dac.,,h"s u.
ut which time orr nresant contra o,s ";i Ia
worked out. wa can;t I nrocrra Iabn. W., aati ug
material ut rites which viii nnahI. I ,a a'ta ~
meet n reduction in tho nr;c: ~ .tao, 10 ,:,' ~
we Shall close ottr works II W. s' 'ie a,nn i"l's
5000 men will be thrown on, " "f ao aneios' oiose
ment and nav roll of SIN, fSo " nas e,mp,uy npn;;
will be stoppei Fer o,,r ,usn .s soLa Lon,a ,l
would gladly continue work, Gnt we ."nu e.pnos @s
run our mills 1T nos;t;va i;nanc'a SI Iaa'os a..
ClIcAGo, November acIA . hreaI - ;tssi H..
price Of steel nils cansrd ch;eir hu ,u i,e tne
Bessemer COMPANY. Of Scranton ] W wh;nt ine
flas quoted them nj Stg ner ton hos hr"'ai. m",i'
matters to focus nnd the Ioi;et I Irou uuuSn, 9n
Steel Company is rcnorted tn hovn .oI Ie,nr a.u
mined TO closo down tho;r wnrrs Nv "s'.l. y.
before December ]. W. no on VI
The ostcusille reason oivon hv ,,,a 1,,;..
managers is lint maori,v n Gon"r,Ss uSo'ies sa
hostile to the existing tnrii on s,aa, sa;Is
and seeming concr1rs,ca ~ M I4 1;a oa.,, LUIS
mentthat the Custom duties n,ust ~ r. I h. roJun oJ,
ed.ln The LONG struggle from iS7s tn w ,aso ssc
company kent runninn NJ Lose ~ an,H 'ne
keen distress from nyertak;nS mo- tna;r I";'s ~
ployes until t,,ey hi|cd % Tiis tm,a im., ,t, en'
PROPOSE 10 take in sail early 1 enon"h % ~ ,"Iy nl
yiate the loss Of anyth;np Iovo"J ;rtoro'. ~ on
in captal. The result viii Ee tI'a anieresa
id,cncss OF several thu,sa,J on,nIa"on u uoa'eu y,
The bcpinninr nj w;nter .'''Pso9es az