Savannah morning news. [volume] (Savannah) 1868-1887, 1882-06-26
Effects of the American Strike In
England.

London correspondent sends the follow
ing, under date of June L: According to
the news that reaches US to-day, the great
strike OF American ironworkers is an &C
complished fact; but, although recent re-
ports to hand warranted the anticipation of
such disruption, it is somewhat remark
able that the probably extensive effects
thereof have rot at all been calculated
upon here. The feeling of disappolpt-
ment experienced last spring when
the season opened without any
thing like the demand from the States
which had been expected deepened as time
went on, and the freightage difficulty gained
serious proportions, and, what with the de-
velopment OF business In other directions,
aud the restriction of the output, pig iron
producers have just learned, for the first
time perhaps IN the history OF the trade,
how to count their profits apart from that
transatlantic demand which at one time it
was their main object to supply.
The question now is, to what extent NAV
the stagnation Of industry in the great dis
trict which centres at Pittsburg benefit
Euglandg The ir0nmasters immediately
affected by the present strike are said to he
In position to prefer a time OF quiescepce.
but this does not by any means close the
door to the Eoglish article. On this side
the makers Of pig iron are in the UNIQUE DO
ol0lOh Va OOAhS AlHcbCio VI buO OOI0
as regards the workmen, recently beaten on
demand for higher wages, and the bears.
who have already found themselves check
mated at all points in their attempts to rig
the markets. Moreover, matters have been
so exceedingly well managed that all this
has been done with large reserves of iron in
public and private stores both at Middles-
borough and Glasgow, ::the:total being ap-
proximatelY 700 600 tons, by far the larger
1OrffOp lUfOur In West 2aof1ond "A
should be observed, the anxiety to sell at any
thing like paying rate continues to be ex-
tremely keen. Now the last quoted cash
prices of pig on the Glasgow warrant mar
ket was AIS. 3D., ard the last reported
quotation of Gartsherrie at New York was
S25 to 500, with Strengthening tendency.
At Middlesborough, inlwhich centre 80 per
cent. OF the whole pig iron production of
this country last year was made, the
figure for G. M. B. No. is AS. 81, the
average price for some weeks past. These
prices, although they have been pruved re-
munerative, are exceedingly low, and the
Pittsburg strikers may find In them a
strongly opposing element, especially as It
has been proved over and over again of late
that slight enhancement OF rates, or the
increase of return caTgoes from America so
as to bring ocean freights down, would tend
to land vast volume of our surplus stocks
upon the United States markets.
According to figures which have reached
Euglsnd, American pig iron stocks at the
end of 1881 only amounted to 21O,890 tons,
against Asst, 65S tons a year before; also that
the American make of last year reached
Ala 354 tons, and the probable consump-
ton during the present twelvemonth would
be 4, 9S2 5d5 tons. In Great Britain an In
crease alone last year amounted to Q 368. $50
tons on about 5000 600 tons, which repre-
sents the make OF 1880; while as to the re-
serve of power here in case great demand
should call upon it, there are 942 works for
ma ing pig, OF which at the last return only
lS5 were in employment. The PIttsburS
strikers, therefore, have many things to
consider in their scheme Of causing iron tn
become scarce, for even protective tariffs
cannot keep this present and prospective
weight Of metal out of the country should
a real iron. famine threaten to prevail.
Turning to steel rails, just for one moment.
while America is no doubt able to supply
her own wants, the Basic process and other
causes. it may be remarked, have still fur
ther chespened the English article. and
whereas $40 los. was the figure in 1870. the
average of 1881 was 96-less than Mr.. Van
der6ilt paid the Dronfield Company in 1879.