The daily gazette., 1882-11-23
THE IRON OUTLOOK.
PittsbuTg Manufacturers Not Scared-A
Brisking Up in Scranton.


PITTsBrRG, Nog 22.-The iron. manu-
facturers of this city generally do not agree
with the Eastern manufacturers who are
disposed to indulge III gloomy speculations
in regard to the future of the iron and steel
trade. large number of the most promi-
nent manufacturers were interviewed
to-day, and none anticipated any serious
break. The mills here are all doing fair
business, and While Eone are rushed with
orders every pound of iron now being manu-
factured is being consumed. The nail trude
Is generally dahl ct this period but row,
on the contrary, the nail manufactures are
very busy, and plenty of orders are coming
in.
In regard to the Bessemer scare prumi-
nent manufacturer stated that there was u
good profit in Bessemcr rails at $40 per ton
reports to the contrary notwithstanding and
that the rails could be made here for S32,
leaving S9 Of a margin for profit.
A. +. Keating, Vice President of the Iron
Association, speaking on the same subject,
said the Bessemer men had made large
profits. but now, when oyer-production has
come, they find their profits lesseped, and
their first object is to reduce the price of
labor In order to'do this they are cndeav-
oring to show that the entire "bottom has
dropped out" OF the business, Another
point they have in view is tO influence legis.
lation and prevent any further reduction OF
the rate on steel rails.
SCRANTON, Pa, Nov. a2.-The excite
ment created here over what appeared to be
an inevitable depression in the steel-rai
business Is considerably lessened by the
latest reports from the Officers of the Lacka-
wanna Iron and Coal Company. A state
ment that the company has accepted con-
tract to deliver &c, 900 tons of steel rails ut
the works at $40 per ton has been verified.
This price is equal to Si2 per ton delivered
at New York. The cost of production is
over $40, but the company hopes to get it
lower by the reduction In wages and a
cheapeniIg Of materials. 1t is expected
that the cost will be reduced iii, these ways
50 or IS.
Prices have been put down to create a de-
mand, and The company will keep its mills
in operation without profit rather than slIs-
pend. The prospective cutting of wages
has created much excitement among tho
workinen at the mills. They now get much
lower wages than is paid in l'ittsbuig and
the West, and ap effort to reduce them fur
thef will probably bring ON a strike, us the
men are determined 10 stand against re-
duotion should tie. Western rates remain as
at present,
NEW YORK, Nov. IA chicago dispatch
says: "Iron Is dali and heavy. A few mills |
are running on hack orders, and unless |
prices improve viii close as soon as orders |
are filled. o. w. Potter of the North Chi
cago mills says it is useless for mills to think |
of making rails at $3.50, and II they de-
cline to that figure all Western mills must |
close. Blast furnaces report a dull pudding
trade for pig iron, and unless demand and |
prices speedily improve they must blowout, /
as 1t is useless to run in the face of posi- |
tive loss. The demand for all classes of
structural iron is small Worlxers ara 30
ducing the production. Iron goods are duh. |
Jobbers in other classes report fair sales,
but say there are no profits, and collections |
are bad