The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1884-01-04
PRICES DURING TILE YEAR.


PRICES DURING THE YEAR,
Prices Of pig iron at this date average
from SO to S2l for:No. l foundry iron, and
SIS 10 10 for mill irons, tidewater deliver
les. Some few brands are held at higher
prices, while others have been sold slightly
lower. The Thomas Iron Company's eS.
treme figures for Philadelphia deliveries OF
No. ! foundry iron, were S24 and $50; their
sales in January being at s2i, and from
that steadily down to SO. in June, recoy.
ering during July to S2l, and SO continuing
until the close Qf the year, although OF late
with weakening tendency and proba.
bility Of $50 being the opening quotation
in 1884. The Glendon and Andoyer com.
panies made only one change during the
year, commencing with SCI in January, and
so continuing until May, when their price
was reduced to Sl9, and 90 remaiss. The
extreme decline may be placed at So per
ton in foundry irons and s. in mill irons
Cornwall irons (red shorty, hale held their
prices since June, viz: Sl7 per ton for No.
3 free on cars at furnace, at which they
are still firmly held.
Mr.. James NJ. Swank, Secretary Of the
Iron and Steel Association, states rs fol.
lows: On the lst Of July We ascertained
that the production for.tne first six months
Of the year was 2352, ,0I0 gross tons, or lust
40, ,357 tons more than one.half the produc.
ton Of 1882. This rate OF production was
not maintained during the latter half OF
the year, although it was not greatly re-.
duced. We think 1t safe supposition that
the production OF 1883 was equal TO that OF
1882, but. that it did not exceed it. The
production for 1882 WAS 4,693, 1928 groas
tons.
Weare also able to estimate closely the
consumption OF pig iron in 1883. We COM
menced the year with 3S3, 1855 tons of do
mesLic pig iron unsold. This quantity was
increased to 52S $500 tons On the lst OF July,
but by the lst Of November there had been
decrease Of 49,, ,S5i tons. At the close OF
the year it ia probable that stocks had been
reduced to the figures which prevailed at
the close OF 1882, SS3 655 tons. Adding tn O
estimated production TO the estimated i'm.
portations, we have 4,SIS,323 toms as the
approximate consumption ol the year.
MANUFACTURED IRON. NJ.
Tho year just closed has been unsatiefac.
tory to the general trade, especis lily to
manufacturers Of bar iron. Prices have
shown declining tendency, closing at the
lowest point reached since February, 1879,
and lower than the average OF any one
year in the history OF the trade. About
FIVE years ago prices stood for a few weeks
at $40 32 per ton, hut the lowest average
for any year since 1914 was S44 "a per ton,
while to.day's average would not exceed
$43 90. Cos. OF production has been cut
down to the lowest. point possible, and it
is hardly possible for prices to show much,
II any, further decline. There is good
deal Of cheap iron on the market, Gales
having been made as low as s3S per ton,
but it cannot be classed as refined iron.
The plate iron trade has been
in comparatively good condition, al
though prices show shrinkage,
averaging probably SG72 per ton,
agains SIC to $l3 in bar iron. the plate
mills have been kept pretty steadily at
work, 80 that manufacturers have had at
least fair Average years business. The
demand for tank iron has been much
lighter than during 1882, but there has
been no suspension of. work or shortening
OF time, unless under exceptional circum.
stances. Competition has been very sharp
and prices have slipped away by twentieths
and tenths, averaging for the year about
Sc 72 per ton. heoutlook seems to promise
a good demand during 1854. Nominslly
Q o5 is quoted Tor ordinary plates. Shaped
iron has been remarkably steady. Pros.
pects for the coming year are favorable;
several large concerns report larger
amount OF work on hand than they had at
equal date in 1882, while inquiries for large
lots are quite numerous. This refers chiefly
to the large sizes, the capacity for manu-
featuring small shapes being in excess Of the
demand, hence the sharper competition.
STEEL RAIL PRODUCTION.
There snot much Of interest to notice II
this department, as prices have been veal
and declining throughout the entire year
Prices opened in. January at $3.50, ant
raila sold at about that price until Aupnst