Morning journal and courier. [volume] (New Haven [Conn.]) 1848-1894, 1884-07-14
Prospects of the Lehigh valley Iron
Trade.
From the Easton Pa.) Express.l


The present condition and prospects of the
iron trade of the Lehigh Valley and adjacent
regions are very ably discussed in a report
just made by the president of the Crane Iron
company. In recalling the iron prices of the
past it will be remembered that from 1872
there was decline until 1878, when No.
foundry pig-iron sold as low 1850 per
ton, and the average for the year was 1758.
In 1879 there was an advance which in Feb
there has been a continuous decline. The
present average price of about 20 is not SO
low as in 1870, but has only been reached
upon two prior occasions---the average for
1850 having been 20B and of 1851 1925.
The effect upon the furnaces of the country
has been that upon the first of April, 1884,
the report showed 107 anthracite furnaces in
blast and 121 out of blast, and 100 bitumi-
nous OF coke furnaces in blast and 1875 out of
blast, while between April, 1888, and April,
1884 forty-nine anthracite furnaces went out
of blast Much has been said of the compe-
tition of the southern furnaces, and especial
ly of those in Alabama, but upon April first
last, out of total of nine bituminous or
coke stacks in the State of Alabama, only
three were in blast, and it is asserted that
there is not furnace in Alabama that has
not lost money during the past twelve years.
In Virginia. out of total of thirteen furna-
ces five We're in blast; in the Hooking valley,
out of total of fifteen furnaces two were in
blast and in the Schuylkill valley, out of
total of forty-six furnaces nineteen were in
blast; and, generally, it may be said that,
with the exception of Pittsburg, where elev-
en- furnaces were in blast out of q total of
seventeen, there was no section where a lar
ger proportion of furnaces were in blast than
41aT
running out of total of fifty-one.
1t must be further remembered that the
policy of the anthracite coal companies has
been very unfavorable to the furnaces Deepen
dent on them for fuel. By means of their
agreement for the restriction of the output of
coal they have been able to maintain the price
of COAL notwithstanding the decline in the
prices of all other commodities. The fur
mace price to-day is 275 at Mauch Chunk,
whereas when the price of foundry iron was
$50, in the year 1877, the furnace price for
coal at Maunch Chunk was only $40 1t is
not likely, the report says, that the coal com
panies maintain their present prices.
The competition during the present season of
bituminous coal has been such as to take
from them large part of the market for
steam and manufacturing purposes, and the
furnaces far east as Lebanon are able to
substitute coke to advantage. Upon the
completion of the South Pennsylvania rail
lower freight upon Connellsville coke can be
obtained, and if so, the producers of anthra-
cite coal will find it necessary to make large
concessions in order to retain the furnace
trade. Should this be done, and the cost of
fuel in the Lehigh Valley be brought down
to reasonable figure, either compared
with the past or with the price of coke at
Pittsburg, it is believed that this region can
fairly compete with any other in the United
States, provided the plant is fitted up with
the modern improvements and the business
carried on in all respects under favorable
conditions; and, even at the present time,
the company is getting its ores at such prices
that it is making iron at cost which, it is
confidently expected, will yield profit after
the payment of interest and all other charges
Whether the iron trade is likely or not to
be prosperous in the future must be to a
great extent matter of conjecture, and it
will probably always be subject to great vi
cissitudes; but there seems to be reason to
hope that, with the opening of new ore sup
plies and with the great improvement in mod
ern furnaces, adequate supply of cheap
iron can always be produced to satisfy the
wants of consumers and that the business
will settle down to condition in which there
will be steady trade at moderate but remun-
eratiye prices