The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1884-07-22
lHON INDuAThY.
A Very Poor Prospect shsad-secsetary
N Weeks Views.

PirrBukou, July. 2l-Ths America,
/ iron industry is in very depressed sla.,
0 Mpresent In all It's departments and Il,
D p'ospecsa for the preeent year are very dis
coursgins. The condition Of the iron trade
as our staple industry ia Of great impor
lance to all. There are comparatively few
men able 10 take correct and compreher.
sise view Of the subject, 20 extensive and
complicated III all its ramitications, Amonr
these few, however, Mr.. j. D. Weeks, see.
retsry Of the Iron and Steel Association. IL
generally recogu!z.d ~ an authority. A
reporter had an interview with Mr.. Weake
upon the subject. Being asked bis opinion
upon the Present stats ot the iron traces,
the gentleman s,id, in roply: E'lT
Usmand ts extremely weak aud prices
nave declining tendency. Since 1880
sheFe really has been heavy decline In
prices. But thers Ia one corsolinr feature
III onr proaent dspas'ed and low p,iesd
market, that is, the presen. condition ot
things has tesn brought about gradually
and without ony sudden panic, such "a
followed the failure Of Jay Cooke in 1873.
The gradual downward tendency OF The
iron market has allowed each establish.
nent 10 adjust itself to the existing condi.
lion OF things and as q result there has NOT.
by far, been tho same number OF failures
In the iron trade during the depression as
there was In 1872
"Has the production of iron fallen Off IN
any apprecisble ex.ent2"
"Oa, yes; 1t has iailen Of very hesyilv
indeed. II has declined throughout ma
whole industry, something like 10 or II
percent, aud that Is Il largo anonci copsid.
ering the laIgs quantity Of iron made In
the uni.ed States. Observation shoya.
however, that the works OF tho country
have adjusted themselyfs to g gradual de-
clining demand and, therefore, reduced
their production by either total or Partial
suspension OF work. As result the stoexs
on haad all over the country are entirely
light. The stocks OF iron In the haads' Of :,
jobbsrF, consumers and manufacturers ia
much lees than It YVES in 1880 At present
the consumers have vary little s.ock on
on hand, and as to overprodnction being
the cause OF the presen. deprss.
sion, it is not true. There wss more iron
IN atock when It was selling for $50 ton,
than there is at the preesnt low
prices. l know firm that had l5,.
900 tons on hand in 1850 and to-day that
same firm is not carrying more than 500
tons OF stock. There is one ever recurring
feature under the present condition Of
manufacture. When consumer feels
that he can get iron for future use when he
wants 1t aud ut a price suitable to himself,
he'll postpone buying until tho last mo-
nent and therefore will carry no stock,
That is the situation with the iron con-
sumers to-day. The manufacturers have
laid up little or no ttoek, consequently the
quantity OF stocked iron at present Ia very
small. IN word, our consuners ere
living from hand to mouth, and when they
do buy their iron thei. demands to hayeit
at once will be 80 urgent that keen com.
petition will speedily set in and prices OF
iron must surely rise."
II see no chances Of Improvement in the
itoh trade this year. ETefything Indicates
a languld and depressed state Of things,
bnt next spring may bring about q busy
time again. ,sFT5sssS