Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1882-11-22
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Glesny sEsrsAsdlssss & nmulas-
tsrsrs ter - FstrFe
View. Of Pittssursh. niu. .osSs.s sssAs sit.
uatioa- PIG lrea Dswa 10 SO, sad
Bar Selling ct I've aad . -
Quarter csata ss'si-l
THE DECREASE lnpalcIs LEGITIMATE

Prr1ssuRsH, November ai.-Ihe talk ID
regard 10 The condition Of he steel market
and the decline In prices has led 10 giosny
foreboding concerning iron nanufsctsfspG.
interests Of all kinda In . ooavsSattoo 10
day, one OF the Oldest snd most s1Psr'
fenced manufacturers is this city ssid -
had watched not only hi own ssPsoial
branch Of tfads, bat sll otAen immedi6tsty
connected with H. with great care and pe-
tience for years, ana although he b net st
all an ala,nist, he thinks the tine hss
come for people 70 stop In their rush and
take cool look ahead. 4
'The steel industry" " said he, ~ls bot 81
index to the condition Of the general ir0a
trade. The deeyeaxe tn prices isa
Perfectly Isasetnass oass
aud il caused, nos by any man or set Of
men who wish 10 depre0 tie MARKET bue
by the natural sequence OF events, and toe
laws OF supply and demand. A great ont
cry hss gone up in the west beoause se:l
rails down 20 $42. That 10 more than they
are getting for them, A sale was made Ia
New York LIST week Of QUO tons Of rails
TO some Of Vanderbilts representatives q
go. Thin 10 the lowest price psid Jet bab
it II not the lo~est that will Be reached.
The Edgar Thompson works has of3ors
ahead for six months at god hgnres, some
contracts with Vanderbilt being. among
their orders. I can say with Psrs
feet safety that nsver In sevso~
teen years has the steel basiness been
% Dsss ~ ir AHsw.
Pig iron Is % low that Il 10 made at loss.
Grey Forge pig isnominally quoted at froo
500. 80 to $2l.O0, bu< dealers are willing TO
month ago, and will sell Grey Forge at
from SO to so tDn. Furaaces are being
banked mp. and the capital invested In
them will lie idle for months and possibly
for years.
"in the general iron. business The out
look 10 oninous. know Of my own knovl-
edge Of heavy sales Of bar iron BY Pitts.
buryh firms In Chicago st 2h cents, and u
the manufacturers told the truth they
woald admit that they expect iron 70 30 b
I've cents before the Arst OF che year. Or.
that unless l am mistaken some of The
weaker firms will have s.g
DtAeslty In 0sssssg Thssagh. ~.
Wfasep.
There may be slight revival at the hrst
oi the year, when railroads have paid divi.
dsnds and money II little moss plentiful,
but by March or April trade will b. Or,
uemely dull again. Those large Arms
which deal In spociAlhcs will ot course Coz
tinue 70 make money on patented goofe
but there 10 little or no demand TOR general
iron work. The business In much worse
than It was before the strike, With the
sliding scale based on 2x cent rate end
puddIers paid IS 80 when Iron is sellinaa at
Two cents, there 10 but one result 10 b
looked for. Those who sell iron will loss
money, for IL cannot probably be made at
such figures. There has been too much
production, too much railroad building
and
Toe Maeh nailrsaA BssA Issstsg.
When crops are as good - they are this
year there IL always Q stAgnatiOn In The
iron trade for awhile. The farmers will not
cell wheat at present figures. the sranesf
railroads will have no grain freights for
months and there will be nofsreiRn demand
for grain except from England. have,
been through the West extensively within
the past month, and found gloomy feel
ing every where among manufacturers and
farmers. IL is wonder that railrosd com.
panies have boen able 70 keep their gusran-
ices ss high a. they have been. AZ fas -
Pittsburgh Is concerned there has bsen q
late too much speculation. Too many rail-.
road schemes have been started, too many
oil exchanges and other kinds Of aids -
specuistions have been planned. The no
suit ssnpot fail 10 he disastrous 10 legiu-
mate business" rs