New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1884-05-07
THE IRON TRADE.
, YEAR OF ONLY MODERATE PROSPERITY.
MR.. swASx's ANNUAL REroEr-THE DECLINE IN
PRICES AND PRODUCTION.

PRICES AND PRODUCTION
PTI1.ApFIPHIA, May 6.-The annual report
Of James NJ swank secretary OF the American IRON ou
steel ASSOCIATION makes pamphlet Of sixtyour pages
-, .s,. rarr ,ab,as giving statistics OF the do
., ,-o, rrade In recent wears. Mr.. SwanE says that
since the publication OF his last annual report
on Nav l. 1883. "the unsatisfactory CONDITION Of tic
American iron trade IL then existed has not I'M
ry,,vea- he adds: II has steadily grown worse Out
=, this statement must be added the important quahca
., that the trade mas escaped failing into that STATE OF
or,rshenson starvation and hOpelessnesJ which sue
coss,vaiv characterized 10 10 the years lmmeolately
following the panic Of 1873. There have been, u Is
tre anv snancia failures since the beginning OF lo>S
INT very large proportion Of these were due 70 oUner
causes than a decreased demand and decline In
Yr,oes Enterprises undertaken in good times Win
insnBcient capital and enterprises that are badly
MANAGED. are almost TO fail when trade Is dun
CONSUMPTION KEEPING EVEN PACE WITH PRoDOC-
TON.
aToos;,c l,ack uron the year 1888" Mr. swanR saws
AT can be said that throughout its entire course 'ne
sctionsrv Influences Of 1882 continued ana N an
dasree but 10 can also be sai tha' pro"uc
tion in all branches except that which embraces IRON ana
steel rails did not greatly from that Of lss2 that
a i ,e reeeGed slowly and not rapidly. Il
the decline in prices had been rapid and concentrated 20
brief period, and not. "a II was Glsul9ueu I'm SdI
the year general disaster would nave Oeeh
certain. Another amehoratng influence l9uha III .o
fact that as rule the prices OF t =, 1vccs
and raw materials receded uniformly -the pr t
OF and fuel maintaining an eQlitHoo II
10 the prices pig iron, and mo prices o. pig ol 70 ne
prices Of rolled IRON and steel We are cad 70 ne
able TO add that wages not greatly reduced an
that such reductions as IL was found necessary 70
riseharrpd because there nothing for them 20 40
All in all the past year not year TO De polt'eu W
s OF al disaster 10 our IRON ana Sue
industries Of panic nor OF overloaded markets. LUZ
serious decline In consumption. Of Sudden 60 apse IN
10 nevertheless. year or OhF m'oeISto
prosperity even less prosperity than rs predecessor
Tad brought and as such it must pass into history
TIE OUTLOOK FOR 1851
The decline in the prices OF iron and steel was paFuay
arrested AZ the close of $50 and the quotations OF De
cember have been only slightly reduced in some lines ana
in Others have been fairly steady. The demand SINCE
January l. Mr. swank says has however been sluggish
and indications point to an aggregate production OF iron
and steel IN 1854 that viii he less than that or lS@o nc
demand rails and for iron and steel TOT cars ana
locomotives and for bridges and other structural purposes
Il less than II year ago, ana prOOaoy icSs 'ua
was six months ago The shTlnkagc III railroad Du.u-
Ing. which Will be more market IN ISSt tndh III
1883, must cOrrespOndnc.y GIect th5 COAs'i"P
ton of heavy IRON and steel PRODUCTS
The minor o. iron aud steel require even IL i tu
large aggregate tonnage OF pig iron ana or IRON anu
Gteel In other primary and secondary stages OF l
and these minor uses are nauTaly eAle.It1
increase population. Not even low prices TOT WHICH,
can destroy them entirely arrest their extension
II the supply the market for iron ana see can
IS the cOuntry ordinary requirements foG tles aCes
n both heavy and hight forms wiz annually luillSh
vast amount " business 20 our iron ana STEEL eslos
ments These facts and favorable prpO3Ouues are en-
titled 70 carenu cons derau0u. and 10 De ~olGhel win
the favorable above presented, nancy me le
cline IN railroad building and the low prices "AcA 'he
farmers are now receiving Tor tAeIr piOuLcto
PRODUCTION AND PRICES.
The production of sJeel IN the United States IN
1882 and 1883 Mr.. swank gives as iolows;