Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1885-12-30
TRADE REVIEW.
Manufacturing Interests in Every Direc
tion Feeling the Good If
feels OF the
Phenomenal Activity in Iron and Steel
Extensive Preparations for In
creased Production of
Textile Mills at Philadelphia-C0urse Of
the Iron Market During the
Past Year.



PHILADELPHIA, Pa, December 29.-The
phenomenal activity ID the iron trade has
Impaired a greet deal OF confidence to
manufacturing interests in every direc-
ton. The upward tendency in prices has
brought out a good many buyers OF all
kinds Of material. Within q few days
merchant iron hss advanced 81 per ton.
Construction iron Is in more active de-
sland ana nrmer. Nails have declined 10
cents per keg. Crude iron has advanced
from 60 cents to 81 so per ton, and heavy
orders sre being placed sooner than usual.
Scarcity is sppaTent for the better brands,
and both Northern and Southern furnace
managers are lOoSinC Tor brisk demand
during the first quarter of the year. The
reason OF the Improvement is that nail
buyers began four months ago to buy
heavily. This created demand for Besse-
mer pig, which AZ turn stimulated an un-
usual demand for ore. Ore has advanced,
and IS now ght in supply. The demand
Tor Bessemer was followed by an active
demand Tor forge Gnd this in turn has ef-
iected finished iron. Inquiries are now in
the ms,k5t for between 41,G00 and 10000
tons OF structural aGd p ate iron for bridge
anc building purposes, Tor 10000 or
UO,OOO tens Il steel rails and icr between
10000 and $4,000 OF cd rails. Besides
this there is q general irquiry for building
material, though lie W transactions will
not lik ly take place until rext month.
Enough nail machines are low at work to
meet the winter demand.
Boot and shoe mlEGfac'UrsTs here and
in Massachusetts, have booked several
large orders within e few days, and very
active winter il nov assHrci. The de-
mand for leather has not vet set in, but
the highest range Of prices fCr two years is
assured Tor the winter. Hide sre in active
demand.
Orders for $50 locomotives have been
placed since December lst, and orders for
about zoo will be plsced during January
Railway managers gTe now completing
Their estimated orders, for between 1900
and 5000 cars, which viii be placed during
January, besides "a r orders for car wheels
and variety OF railroad material.
Extensive preparations for increased
product on in textile E:ill5 have been com
pleted, and under ths highest range of
prices nov prevailing heavier demand
for staple products is assuret. Heavy or
deTs for carpeting are already received,
besides inquiries FIR cloth for summer
shipment. Hj-iery-mi u will resume full
time in Janu.rv. Manufacturers Of textile
machinery are IN receipt Of orders for ed.
dltional work To- he erected between Janu-
airy lst and March 1t.
Arrivals Of lumber during the past six
days have been unexpectedly large. Build
ers in New York and Phi.gd lphia markets
have placed large orders for hemlock,
white and yellow pine, bCside5 fair orders
for walnut and cherry.
There is strong conf lence in the per-
manenCy of prices, and the policy of manu-
facturers, builders and raj wsy managers
has been already indicated by the number
OF orders placed within the yast two weeks
for material TO be supplied daring the first
three or lour months Of the new year.
The anthracite companies are preparing
Tor restricted output durjag the first
quarter Of the year, in order to preserve
the highest possible range Of prices, Tho
bituminnus operators nave closed con-
tracts and have the promise i)r large ship
ments during the winter and. expect to
close more contracts during January for
much larger shipmeuts than were made
last winter.
The banks are LEST inclined to extend
financial accommcd. tons On ordinary
commercial paper.