The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1882-12-21

The unnecessary scare which has pre-
vailed in some sections, BY reason OF the re-
cent reported dizziness in the iron trade Is
set at rest by statement from committee
of iron manufacturers OF Pittsburg. pre-
sented for the benefit OF the iron men OF the
West. The communication Is based upon
information developed at meeting OF
the iron men, and is important to all Sec
tions Of the country, and especially those
localities where the iron interests are at
tracing attention as new industry. The
South, to-day in its physical development,
is less known than the West. 1t is only
recently that railroads.&c. pioneers OF in
dustrial development and progress-have
been brought under system, in limited
vay as vet, and their usefulness extended
under combined action and operation. The
field In the Southern States, for material
development, and consequently, for rail.
road construction, is almost boundless. The
reason and facts connected with iron pro-
duction and the condition OF trade, lead to
the conclusion that the South must be
greatly benefited by the economic consid-
erations which influence business opera
lions, The demand for a revision OF the
tariff means shorter profits for iron pro-
ducts, and this means the diversion OF cap
tai to those localities where iron may be
manufactured at less cost than in the East
ern and Western States. The reduction in
the price of iron and steel is not by any
| means an evidence that the demand for
these articles is any the less, or that the
enterprises in which iron is an essential in
gredient are diminishing in number or CON-
prehensiveness. 1t has been clearly shown
that iron and steel can be made in the
Southern States, and especially in Virginia,
Tennessee and Alabama, cheaper than it
can be manufactured in Pennsylvania, and
| the consumers of this article are simply
shaping their policy so as to avail them
selves of this diminished expense. They
want to purchase the article as cheap as
may be, and as the South is now inviting
attention as great theatre for railroad en-
terprises, the South is where iron should be
made to supply the demand at less cost
than to purchase the metal elsewhere. The
circular of the iron manufacturers in effect
admits this, although not so Designed
Prices, at which iron OpeI ators in the South
could make reasonable profit. would close
the iron furnaces Of the East and West. 1t
| is not therefore the lessened demand for
iron but that sagacious forecast of enlight-
ened enterprise which is looking for more
promising market where greater advan-
tages are presented, that feeling of un-
rest is manifested W it'll iron manufacturers
Of the East. The fact is beginning to be &C.
knowledged that Virginia must become a
great iron manufacturing centre, because
the ores and coke are here to cheaper the
price Of the manufactured article. This
fact is attracting the attention Of capital
lists, and it is mere question OF time when
the iron interests of Virginia will be in.
vested with an importance and profit even
SURPRISING those now attaching to Penn
sylvania.
This committee Of iron men, to whom
we have referred-Messrs. A. F. Heating,
Calvin Wills, H. @. Bunnell, with Mr.. Jos.
D.. Weeks, Secretary-present suggestive
paper, the study OF which will convince
the reader that the causes and effects to
which we have given expression, are found
located in their reasoning. From the state
ment OF the iron men, they say. las to the
condition Of the mills and Of trade, it was
clearly evident that the low prices for iron
which are now ruling are uncalled for and
only exist because of an unnecessary
scare on the part of the manufacturers
Trade is fairly active, and the mills reason
ably busy filling orders that come in, (which
are absolutely required for immediate con-
sumption. Stocks are not accommodating in
the hands Of manufacturers Is, dealers, or con-
sumers. and it was developed that there
was more inquiry for the future than was
expected. 1t seems reasonably certain that
the demand for iron early next year will be
very good indeed. The railroads that have
been constructed during the past twelve
months are not One-third supplied with
equipment, and it is certain that the old
roads must increase theirs to move the abun-
dant crops of the year. This applies not
only to roads North, but South, where usu-
ally there is but little demand for increased
facilities. The cotton crop Is estimated at
1000, 900 bales, half a million more bales
than ever before. Its grain crop is largely
in excess OF that Of any previous year, and
to move these the Southern roads must
have largely increased equipments. The
requirement for repairs on railroads, which
will reach 10000 N lies by the close of the
very large. The requirement of repairs to
existing equipments is equal to 10per cent.
of the amount of iron used in their con-
struction, in addition to the new needed.
In addition to these. the demand for iron
for agricultural purposes and the general
trade Of the country, in view Of the i'm
mense immigration, good crops, and extern
sion Of settlements. must be larger is
year than ever before. All these facts show
the encouraging prospect for next year and
the uselessness of the present scare. This
scare was, no doubt, largely due to the
published reports as to the condition Of the
steel rail industry but the fear of stoppage
in this is over. Contracts for 200 900 tons
of rails were made last week large orders are
on the market anxious to be booked, but
makers are not anxious to enter them at
the same rates. Orders for large num-
| Der Of locomotives have been placed within
three weeks 6fty-five by the Pennsylvania
Railroad. fifty by Western road, and
some OF the larger concerns are so well
supplied with orders up to April as to be
unable to book any for delivery until after
that date. Large contracts for cars have
been placed, and it is well known chat still
larger ones are ready to be offered, and this
in view Of the fact that at this season of
the year railroads are bears when cam.
paigning for supplies for the ensuing sea-
son."
To further discuss the situation and the
influences at work affecting the iron trade
generally, convention of Eastern and
Western iron manufacturers was called to
meet in Pittsburg, yesterday. the Goth,
to consider all the agencies connectad
with the industry. 1t would be interesting
to hear the discussions which will doubtless