The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1885-01-09
PRICES OF NAILS FOR cd YEARS.
The Card Rate Lower In 1884 Than in Any
Year Since 1860.

Year Since 1850.
The current issue OF the Bulletin Of the
Iron and Steel Manufacturers Association
contains an invaluable tabular statement
OF the fluctuations in the price Of nails
from month to month since january
1850. This statement shows that the
price OF nails in 1854 was lower than in
any year since the beginning OF the war.
The lowest price reached in the years coy-
cred by the table was 50 10, which was
the jobbers' price in carload lots in March,
1879, and in October, November and De.
cemher, 1884,. However, the average
price in 1870 was s. 10, while in 1884 Il
was s. 50. Only one year shows a lower
average, that being 1878, when the average
price was So 81. In that year the mini.
mum price was 81 10, and the maximum
price 81 so, while last year the highest
figure touched was s. 20, and the lowest
So 10. The latter price has been main
| tanned since October !, and there was not
q previous period when SO low q price was
maintained for even one month,
The highest average OF any year was
81 IS in 1864. Nails in that year rose TO
$40, which was the wholesale price in
August and September. They rose steadily
from the beginning OF tho year, when they
opened at S. 80. In March they were
quoted at So 10, and in the three following
months at 81. In July the rate was IS 40.
From the $40 rate OF September they fell
to 80 80 in October, 50 in November and
81 80 in December. They declined steadily
till September, 1865, when tho rate was 81.
The average selling price in 1880 was
S. GS, in 1881 s. 90, in 1852 s. AZ and in
1883 So 0G. Ten years before, in 1870, the
average rate was 81 90. In 1872 it had
Ten years ago, in 1875, nails opened in
January at s. Us, and closed at s. 10, Just
81 above the present price. In 1865 they
opened at S. 50.
Commenting on these figures the
BHletiD says: 1.-THE rate Of 50 10, both in
1870 and now, is below cost. The effect Of
accession and political excitementis trace
able in 1901 II stopped hpgipess, In 1891
sales were small, all enterprises were pros.
trated by the Rebellion, and thousands were
idle; but later men began to earn wages,
gold advanced, and all goods with it. The
war created m enormous demand for ey-
erything, because Of high wages, l,ounties,
expenditures BY the Government, waste
OF war, etc. The elimination came with
| the end Of the war and decline in gold
in 1866. In lSsa-Ye we gee the result al
the great activity in railroad and other
building operations, until the fnan-
eial depression inauguratedby Jay Cookies
failure set nails the downwardscale for
several years. IN lsFs.Tg stocks were
greatly reduced and PRICES at bottom,
similar TO the present situation. After the
unnatural boon spent itsetf the reaction
was checked and prices held up by the
western labor strikes and consequent re.
dlcel production, InlssS, with The Fast
and West running af full capacity, seyeral
new factories started, Which excited
severe competition, the business being
prices. in October, 1884, the minimum
price was lower than wys ever before
known exceptin March, 1870"