Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1885-12-30
a BOOM IN IRON.
A Bright Outlook in this Branch
for 1886.
A CONTINUED ADVANCE IN PRICES
A Feeling Of Confidence in Possession Of
the COuntry---Effect Of Tariff
and Silver Questions

=
view of the iron trade of 1885 has just beer
prepared by James NJ. sWank, genera
manager of the American Iron and stee
Association. The beginning OF the yesl
was marked, he says, by continuation o.
the depression of 1884. There was
steady ssgging Of prices from January to
July, except for steel rails, quotations to'
which improved triae in May. In July
and August all prices stifened, and in Sep
tember slight advance was established
steel rails taking the lead and continuing
to advance until December.
Quotations for few leading staples toI
each month of the year will show that
prices at the close of the year were much
more favorable than at the close Of the
first half of the year.
A COMPARISON or STATISTICS
shows that pig iron was SlS in January
$I7.75 in July and $l8.25 in December.
Steel rails were $27 in January, $26 in
April and $34.5O in December. Bar iron
was $40 81 IN January, $38.O8 in July and
$39. 20 in December. Cut nails were 81. III
in January $2l5 in August and $3.50 in
December. These quotations are
monthly averages for No. l anthracite
foundry pig iron and best refined bar
iron per gross ton at Philadelphia, for cut
nails per keg wholesale at Philadelphia,
and for steel rails per gross ton at Penn
sylvsnislmills. Steel rails. however, show
the greatest advance in price during the
last half of 1885. In April sales were
made A. the Pennsylvania mills at SIG and
$26.50, and few sales are said to have
been made at the astonishingly low price
$25 80. These prices were lower than for.
eign steel rails could have been delivered
at Atlantic ports at the same date if eOtire
ly free Of duty. In May quotations
ADVANCED
to $27, and the price thus established was
substantially maintained until the last oi
August, when further advance took place
in consequence of an agreement among
the manufacturers to limit and distribute
the output for 1886, which was fixed at
775, 900 tens, but no restriction was placed
upon the price From August to Novem'
Der prices advanced, as result partly OF
the restriction Of production which had
been determined upon, and partly OF the
i'm proYement which had taken place
in the business Of the country and in the
last named month and in December ssles
were made at $35. In December manu-
fscturers enlarged the limit of production
for 1886 TO one million tons. But, says
Mr.. Swsuk, "the prices Of pig iron, bar
iron, nails, steel rails aud other forms OF
iron and steel could not have advanced III
the last half of 1885 if there had not been
al increased demand for these products.
After September let this increased de.
mand became everywhere noticeable, and
it hes continued without interruption to
the present time. This is. after all, the
most gra6foing feature OF the revival in
our iron aud steel industries.
CONFIDENCE.
Ii there were no threat to day of tariH
revision the promise Of 1856 would be
bright indeed. Not to borrow trouble,
however, it can most positively be said that
a feeling Of confidence in the future Of
business now prevails throughout the
entire country. We have entirely re-
coyrred trom the effects Of what.
ever panicky feeling prevailed year
or six months ago. The uncertainty about
silver may excite financial circles, but it
is exercising no injurious sfect upon gen
eral business. Although complete statis-
tics are not in it is certain that we made
almost as much pig iron and ss many steel
rails in 1885 as in 1884.
RAILROAD BUILDING
in 1855 was more active than has gener.
ally been supposed it would be. In 1884
we built 1850 miles of new railroad, aud
in 1885 We built over 1900 miles which
is 500 miles above estimates tor the year
that were made as late as July.
We shall do better in 1856.
The iron trade exhibited 10 symptoms OF
a revival of 1885, but Gu the contrary the
backward movement which has frop the
first more than kept even pace with our
own depression continued until the close
of the year. Taking the iron making
countries of Europe or the whole the con
ditiou in that grand division is much
worse than it was six months age.