New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1883-04-25
BEAVY DECLINE IN PIG IRON.
THE THOMAS COMPANY REDUCES ITS PRICE 50 A
ToN-THB HEAVIEST FALL MADE IN MANY
MONTHS.

THE THOMAS COMPANY REDUCES ITS PRICE 50
ToN-rHg HEAVIEST FALL MADE IN MANY
MONTHS.
An important reduction in the price of foundry
pig iron was announced yesterday by one OF the
largest companies engaged IN the business. The
Thomas Iron Company put down its nominal ask
ing price 81 ton from $2i9S22 according to the
brand, to $220$20 per ton, delivered IN Hoboken.
Ibis is more sweeping reduction than has taken
place for many months. No. pig iron, which Is
generally accepted as the standard for quotations
was quoted at S23 per ton by the Thomas Company
last year. Within tine last few months sales
have been made at easier prices, hut
the lowest figure at which 1t has been charged that
sales were made S2l per ton. Yesterdays re-
duction to $50 nominal is therefore. decline of 81
from the price commonly supposed to be ruling, but
as the prices now quoted not net the decline in
the net figures is believed 10 be proportlonatey as
great as the schedule reduction.
The Thomas Iron Company is ono of the three
leading corporations which produce foundry pig
iron. The two Others are the Crane and the Allen
town iron COMPANIES, the offices Of which are IN
PhiladeIpbia There are numerous other outside
companies tho prices of which are always below
those of the three corporations named, and
which have been accused lately of cutting
rates considerably more than they Usually
do The Thomas Iron Company has eight furnaces
at HOkendauqua, Penn, on the !lne oil the Lehl1n
Valley Railroad Ii is reported that the company
purposes 10 put ont two OF It's furnaces. Neltnera
denial nor a confirmation of this runor could 0e
obIalned at its Office yesterday Ii was not known
whether the Crane and the Allentown companies
had followed the reduction OF the Thomas Company
or not. ~,
The Importance Of the change IN price OF No.
foundry pig iron, made by the thomas
Company, from $2i to ST. per ton,
can Dest be shown by the following record
of tho fluctuations IN the pnco ~ the article at
PbiladelphIa last year aud the early months OF
1888:
Ispuarv 1872 - $40 90 November ISL. s26 90
March, is52..........- 70 emGef % 90
1890 70 o. February. lS5S.-...-.- ~ oO
ocoper 1882 -. 70 70 March, lso3...-... "a w
g. G. Clarke, the manager OF the Thomas Iron
Company III this city, was out OF IOWA. Az Tue
office however tho facts as gwen above were Cd
tanned IL was stated that the reduction was the
rrsult of the dLness OF business Customers had
heen making their purchases only from month 10
month"; waiting apparently for n decline IN the
market II was hoped that the reduction would IN
Once customers 10 come forward To make freer pur-
cbases. , -.
A general opinion was expressed by members OF
the iron trade with whom TRIBUNE reporter
talked that the reduction made by the IhoLas Com
pauy would compel the adoption OF prOp0rionaiey
lower prices By the outside companies. II they ana
NOT rduoe prces the only alternative left was the
blowing out Of their furnaces aud the cessation oi
the production Brokers said tnat tine condition OF
seemed 10 be- prospect OF any immediate improve
ttaf rala