Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1882-05-05
THE INDUSTRIAL OUTLOOK.
Never Before i'm the History OF the
Country was the outlook SO
Encouraging,
And Never was there such n Demand
for Machinery and the Equip
ment of Factories.

| Special Correspondence oil the Appeal
| PHILADELPHIA, May 1.-Railroad build
| ing has met with temporary backset. 80
| far this year nearly 1000 miles have been
| built. Ia consequence all other industries
| are less prosperous. There is no actual dull
ness, but less activity than had been expected.
Last year 100000 tons OF rails were used
I ~ nooo ill., Z - L--;l.---If a.ans prOye
to be abundant and prices decline, SO that
| large exports can be made, railroad building
will revive, prices will improve and general
trade will be better. Steel rails have de-
clined from $50 TO $50 per ton.
| LOCOMOTIVES.
Last years output of locomotives was over
| 100. Ten new works are in process of cree
| ton or contemplation. 1t has been estim ated
that the yearly capacity for locomotive max
| ing will be not less than $500. Several rail-
road companies have countermanded orders
| for engines, rails and cars. This has con-
tributed to the uncertainty to future rail-
road activity.
RAILROAD COMPANIES.
The dividends of roads with an estab-
| Iished raffic show increased earnings, aver
| aging ten per cent. over the same month
| last year. Railroads in remote agricultural
| sections exhibit less favorable returns be-
| cause OF the lessened traffic in consequence
| of short crops and the decreased Purchasing
| power of the people. There is a great deal
| Oh DTOlScltQ mHtdSc uhAOmPtSeSos
\ GUS short lines are projected in coal, iron
and lumber regions.
The steel works are, as a rule, crowded
| with orders, because steel is rapidly sup
| planting iron for most uses, and in cost will
soon be greatly reduced by the Bessemer pro-
| cess, which manipulates the metal by MAJ
chinery instead OF by hand-labor, as is the
| case in iron.
The demand for iron is very active, and all
the rolling mills are working day and night.
| Prices are weakening under the enormous
proportione, and run from "a to 81 cents per
peund; nails, So so to s. so per keg. The
| demand for iron for bridges, boilers, engines
and other purposes furnishes abundant en-
| ployment for the entire productive capacity.
COAL.
| Great Developments are being made in
coal. The opening of new mines continues.
! In eastern Pennsylvania the miners have
! been reduced to three quarter time to prevent
| over production and fall in prices. Coal
roads are projected through Pennsylvania,
and the output will be largely increased this
| year.
| THE CROPS.
The information received from all parts OF
| the West and Northwest conveys the assur-
| ance that much larger area is planted this
year than last. This is to be expected be-
| cause of the enormous demand for bread
| stuffs, provisions, etc. The probable result
| will be cheap wheat, abundant railroad
traffic, low prices, and increased purchasing
power, which is the basis of prosperous
business.
IMMIGRATION.
April immigration foots up 10000; May is
estimated at 10000; for the year 1857, ,O00,-
L v
at good wages in whatever employment they
are accustomed to. Skilled labor is pouring
in rapidly, and will in time enter into COM
petition to reduce the level of compensation
Italians especially are crowding in, hundreds
of them unaccustomed to employment. The
great bulk of foreigners are thrifty, industri-
Gus and intelligent.
LABOR.
The increase in the cost Of living has led
to a multitude of strikes and demands fol
higher wages. In most cases the advances
asked have been granted. In some cases
compromises have been effected, and in q
minority of cases the old basis of compensa-
ton has been continued. At this writing
strikes are progressing in many locations
| The advances, if Con coded, would not more
than pay for the increase ed cost OF living.
THE TARIFF CONTEST.
The effort to create tariff commission o
nine persons, to be appointed by the Presi
dent, who shall have power to in sestigatt
and recommend basis for tariff legislation
has aroused the opposition of revenue re-
formers Protectionists are willing to have
duties reduced. The free traders propose tC
establish free-trade club in every district
in New York, and then extend the erganiza
ton to other States.
| AMERICAN SILK.
The Women's Silk Culture Association O.
the United States headquarters has solo
$500 silk trees and 25,500,O00 eggs, and in
troduced silk culture in twenty-five. States
The success of silk culture is completely as
sured, and the American article now made il
pronounced by experts equal to the best
Italian silk.
! THE INDUSTRIAL SITUATION.
The demand for labor and its products
absorb the entire productions of mills, shops
and factories But for the advancing ten
dency in wages prices of commodities would
decline New England wooden and cotton
factories are running full time; iron and
steel mills the same; smaller shops are full
of work; imports are increasing, and exports
are decreasing; money is abundant, and con-
fdence is generally sound. Never before
was machinery as rapidly turned out for
| equipment of mills and factories North and
| South. JOHN DAVIS.