Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1883-01-05
IRON TRADE OFlSS2.
A Careful Review that Shows an Unex.
ampled Prosperity and an Enormous
Increase in the
Demand for AL Descriptions Of Iron
No Other Industry Has so Enc0urag.
ing Future.

PHILADELPHIA, January 4-The year
Just closed has been the most prosper /
Gus and active one in the history of the iron |
trade, and the facts disclose such an eIpan-
sion Of productive capacity rs to lead TO
vigorous but healthy competition, which has |
given prices in all branches q downward |
tendency, in the interest not only OF buyers |
but of manufacturers. Capital has been at |
tracisd into iron making in large quantities, |
and the enormous production has been read |
lily and probably absorbed by a regularly |
increased demand. Notwithstanding the |
enormous increase in output, and the i'm |
provements and expansions OF facilities Tor |
production, importations of iron and steel
from Great Britain will reach ] SOC, 900 tons |
Imports for 1881 were 1921 ,767 tons; for |
1880, 2,112,3n tons. Pig iron imports for |
the same three years were 480, 900 tons, $780, |
162 tons and 734 ,96S tons. Values of foreign
imports of iron and steel for eleven months !
of past wear were Sal S91 $50; for twelve |
months, estimated, S45, 050, 40S, against $751;
555,073 for 1881, and $50, AS, 1862 in 1880.
In the matter of domestic production il is
too soon by several weeks to present reliable
statistics, based on actual returns from pro-
ducers, but rsmsrkshia in,rease has taken
place in nearly all branches OF iron making.
The pig iron output increased from 1885,
Ala net tons in 1880 10 4,64l ,554 net
tons in 1881, and to an estimated output OF
$3.50 900 tons in 1882. Production of rolled
iron, excluding rails, will possibly show q
900, 900 tons capacity. Output OF iron and
steel rails has increased from ,46l 1897 tons
in 1880 to ], S44, 100 tons in 1881 and TO an
estimated capacity of 2,250, 900 tons in 1882.
Consumption in 1881 was 100000 tons.
Gauging last years consumption by the in
creased production and consumption Of last
year compared with the previous year, the
consumption of 100000 tons has been
reached during the year just closed, as will
be seen by reference to railway construction.
The mileage of 1882 in round numbers was
10000 miles, against 1900 miles for 1881, an
increase of % per cent. The productive ca
pacity ss represented by Bessemer converters
increased from 80 converters TO 81, an in
crease of % per cent. The relative cou-
verter capacity of British and American coz
verters was last year 1852 British, to As
80S tons American. Present converter ca
pacity in the United States 81, and 122
British, representing a relative productive
capacity of 100000 tons for American, to
100000 tons for British converters. Later
figures may modify these conclusions, but
they serve 10 indicate the general outlines of
the progress Of productive capacity and
growth of consumption. Prices OF steel
rails declined during the year from $50 to
quo " INV Improvements COutcmplhleQ
and in progress will probably decrease the
cost il the representation of creditable
authority may be relied upon, $40
per ton, through the adoption of
various economic processes, one of
which is the direct process by which molten
iron from the blast furnace can be treated
for its impurities and run into rails and va
rious other merchantable products. The
principal of the improvements referred to is
al Al a.. L. e Al
and portion of it used to create steam for
the operation of the machinery necessary to
transform it into desired shapes. An i'm.
provemsnt introduced abroad Is the soaking
pit, whereby the initial heat is also retained
and many of the present expenses and de-
| lays avoided. The predictions of those en-
gagged in the development Of the rew pro-
ceases lead the trade to anticipate some very
radical Improvements in methods of produc-
| ton aud in cost.
The blast furnace industry has been re-
markably prosperous during the year.
Comparatively few new stacks have been
| erected, but old ones have been improved in
productiveness. Prices are gradually de-
| Ginning, but the active demand for all the
available output limits the declining tend
| ency. The four months strike during the
| summer restricted production somewhat,
but comparison OF prices during
the twelve months exhibit a remarkable
uniformity. Present quotations in the East
are S25@26 for No. l; $23@24 for
No. 2; $21@22 for mill iron. Lake ores
still rule high and strong. Pressure is being
brought TO bear on producers TO yield TO
lower rates. New mines and additional rail-
way facilities it is expected will result in
more acceptable prices to consumers. Pig
iron makers have just organized a national
association for the protection OF mutual trade
interests. Prices of muck bars run from S38
10 $40. Merchant bar from 81 Is to 81 70.
Nails, So so to "a 80 per keg. Structural
iron from 81 to &c per pound, according to
| quality. Sheet iron, Sc to &c. Old rails,
$26. Plate, &c 10 43c, according TO quality.
The most important questions Attaching the
iron industry are-6rst, the probable future
of demand; and. second, the probable legis-
laiion on tariff duties. The manufacturing
interests through recent conventions held,
have concluded TO acquiesce in the reduc-
tions suggested by the Tariff Commission,
but do 30 with some apprehensions as 10 the
ultimate effect of these reductions upon the
trade and general interests. A reduction of
20 to % per cent. was more than was ex-
pected, and probably cannot be maintained
without some sharp reductions in cost of pro-
ductiou, first of which will be reduction in
cost of labor.
NO industry has 30 encouraging future
before il, even taking into account the unfa-
vorable indications just mentioned. I'm.
provements of revolutionary character are
before it, and it is marching into field
where its facilities for economic production
will be vastly incre ased, and where demand
will very probably keep abreast with the
improving and increasing facilities. Con-
servatism has been firmly impressed upon
manufacturers, buyers, projectors of new
enterprises and capitalists. The rapid de-
velopment of the country and its resources
is making still greater demand for the pro-
ducts of furnaces, mills and shops, locomo-
tive works, bridge works, ship-yards, rolling
mills, foundries and manufacturing estab.
lishments of all kinds using iron and steel,
all Of which are Proftsbly engaged in the
work of production, and there are no WE'LL
founded doubts against the continuance of
the wonderful prosperity.
Is IT A CASE OF MATRICIDE!