The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1885-12-30
IRON AND STEEL.
A nEymw OF THE rAsr YEAR
OF the Trade by Secretary sWaak-Ths FIuc-
tuH'ious of PrIcsS-rhe Advance 10 Steel
RHiis-A Feeling OF Uou ndoDoO In
Future BusInoEs of the Country.


PHILADELPHIA, Pa, Dec. 20.-A review
OF the iron trade Of 1885 has Just been pre-
pared by James NJ. Swank, general mana
ger Of tbs American Iron and Steel Asso
citation. The beginning Of the year wa
marked, he says, by continuation OF tn
depression oil 1884 There was STEADY
slgging OF prices from January to July
except for steel rails, quotations fol
which improved triAs in Msy. In July
and August all prices stiHened, and il
Septambsr slight advance was estab
liahed, atoel rails taking the lead and con
tiuuing to advance until December.
Quotations for four leading staples for
each month Of the year will chow that
prices at the close Of the year were much
more favorable than at tAe closs OF the
tirst half OF the year. A comparison ol
statistics shows thSt pig iron was SIS in
January $l7 70 in July and SIS % in Ds.
cember. Steel rails were $27 in January,
$26 in April and $S4 so in December. Bar
iron was $40 - in January, $3S 0Si in July
and $50 20 in December. Cut nails were
81 10 in January, s. Is in August and
g 10 in December. ,.
These quotStioNS are monthly AVERAGES
for no aIChracite foundry pig iron and
best refined bar iron per gross ton at Phil
adelphia, for cut nails per keg wholesale
ut Philadelphia and for steel rails per
groes ton at Pennsylvania mills.
STEEL RAILS sHow dRgATEsr ADVANCE.
Steel rails, however, show tho grestcat
advances in price during tho last hall of
1885. In April sales were made at Penn
sylvauia mills at $50 and $40 so, aud few
sales are said to have been made at The
astonishingly low price Of $25 so. These
prices were lover than foreign steel rails
could have been delivered at Atlantic
ports at the same date, il entirely free OF
duty. In May quotations advanced to
S9T, and the price thus established wSs
substantially maintained until the last OF
August, when further advance took
placJ in cGnsc quence Of an agreement
among tho manufacturers to limit and dis
tribute the output for 1876, which was
Hxed at 775 GOO tonB, but no Feztriction
was placed upon theprice. From August
10 November prices advanced az 8 result,
partly OF restriction Of production which
had been determined upon, and partly OF
the general improveme mt which had taken
place in the business OF the country and
in the last named month, and in
December sales were made at $BS
Ia December manufacturers enlarged
the limit Of production for 1883 to l,OO0,0OO
tons.
"But," Gays Mr.. sWank, "prices of pig
iron, bar iron, nall5, steel rails and other
forms Of iron aud steel could not have ad,
vanced in the last half OF 1885 il there had
not been an increased deIuand tor those
products. After September this iu.
creAeed demand BECAME everywhere no.
tiCeabie and it has continued without in
corruption to the present time. This is,
after all, the most gratifying feature Of the
revival in our iron and steel industries,
THE THREAT OF TARIFF REvIsloN.
II there were NC threat today OF tariff
revision the promise Ct 1855 would he
bright indeed. Not to borrow trouble.
however, it can most positively be said
that feeling ol confidence in the future
Of business now prevails throughout the
entire country. We hSye entirely recover.
ed from the eilti!s OF whatever pauicky
feeling prevailed q year or six months
ago. The uncertainty about silver may
excite financial circles, but it is exercising
no Injurious effect upon general business. |
Although complete slaLis;icSare rot In, it |
is certain that wG made almost as much
mig iron and as many steel rails in 1885 as
in 1854.
lssailrosl building in 1885 was more &C.
tive than vas generally supposed it would |
be. In 1884 we built $3.50 miles OF rail-
roads, and in 1885 We built over 5000
mileR, which lie 500 miles above the esti-
mates for tho year that were made ac late |
As July. We shall do better in 1885,.
The iron trade Of Greet pritain ekhih.
tied no aymptops OF revival in 1885,
but on tho contrary, the backward
movement which has from the
first more than kept even pace with
our own depression, continued uutil the
close Of the Year. Taking the iron max
ing countries Of Europe a. a whole the
in that grand division IL much |
worse than it y.a six months ago"