The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1888-12-11
NAIL MEETING TODAY.
The Pooling Arrangement Of
Western Mills.
VIEWS ABOUT THE MARKET
And the Way to Remedy It's Unsatis-
factory Condition, from NINnurac-
turers and Jobbers Every
wherc-wire Nails.

An adjourned meeting is to be held in
this city to-day at which the cut nail
manufacturers OF the West will endeayor
to complete the details Of the pooling
arrangement. Messrs. ]. A. Kelley and
B. II. Burr, OF Ironton, Ohio, Mr.. John
Russell, of Ashland, KY, and other nail
manufacturers arrived in the city last
evening to be present at the meeting.
The INTBLLIoIScER some days ago
printed some answers received by the
St. Louis dye Of Steel to the question,
What is wrong with the cutnail market ?
A number of additional answers have
been received. There is in these re-
plies, especially those from the West, a
singular unanimity OF opinion that the
wire nail is gradually supeBeding cut
nails. ~
A. j. Harwi, Esq, Atchison, Kas.,
writes: "The trouble with the cut nail
market in this part OF tho country is
that the wire nails have almost COM
pletely taken the trade. Wire nails
have grown in popular favor faster than
any other product Of iron within my re-
collection OF twenty years in the hard.
ware business, and to-day fOur.titths OF
all the nails am selling are wire nails.
In reply to your second question as to
what has brought about these conditions,
may say that there is beyond any
question great merit in wire nails.
The foreign population in this local
ity who were accustomed TO wire nails
in their own country, took to them
very readily when brought here by the
trade, and the fact that they are nicer to
drive aud Just us cheap, considering the
quantity to the pound, as compared with
steel nails-all these are reasons why the
wire nails have driven out the cut nails
To the extent they have. Inmy opinion
the wire nail will hold the trade to the
exclusion OF the cut nail for all time to
come. The revolution has been so COM
plete that there are good many deal
ers who now talk OF keeping only wire
nails in stock. Should this state OF af-
fairs come about, you can readily see
that the cut nail will be Il thing OF the
past"
Eastern manufacturers and dealers
ascribo the unsatisfactory condition Of
the market TO over-production. One in
teresting comment is US follows:
Allured by the good profits there was
in cut nails some years ago, large
amount OF capital has been drawn into
nail making, so that at present there is
mere naiI.cutting capacity 10 this Coun.
try than the country can supply demand
for. Second, brokers who have no inter-
est whatever in nails, except broker
age, bear" the market for their
customers for their commissions,
regardless OF the loss inflicted on the
manufacturers. Third, infdelity OF
purchasers, who will not hesitate to
abrogate purchase or contract when Of
iered lower prices by another party sub
se0uent TO time Of contract, but before
delivery OF goods. This is great and
growing evil which is practiced by a
number OF houses who regard their
honor and credit above reproach. No
man uiacturer can count on a sale unless
he has specifications in hand for imme-
diate shipment. Unlike other branches
OF the iron business, it is not regarded
among merchants breach OF contract to
decline to receive mills on previous con.
tract, il the market has declined.
The increased use OF barbed wire fenc.
ing is asCribed as one cause for slack
demand for nails. One OF the remedies
suggested is: Dispense with the broker
and rely on the jobber, the true middle
man. Make no delivery prices. Make
no contracts for future delivery or with
guarantee OF price. Enforce strictly
the law OF contracts aud the market will
in time right itself.