Macon beacon. [volume] (Macon, Miss.) 1859-1995, 1890-12-06
PROFITS IN IRON.


.Infant" Industries That Reap Large Gains
Through the Paternal Policy of Protec'
tiOn.
The Senate refused to make very
S light reduction in iron ore; but there is
abundant evidence that the mine-own-
ers and pig iron makers are growingrich.
As far back as 1862 the Thomas iron
works in Pennsylvania were making pig
iron at a total cost OF less than Sl406
per ton. Last year the same works pro-
duced pig iron at $500 per ton and de-
clared a dividend OF 25 per cent Nor
have they an advantage over other
works in their district for they use
very lean ore and are therefore required
to use more fuel than is necessary in
case richer ores are used
Last January the Iron Age, the prin-
cipal trade Journal OF tho iron trade in
this country, said that the metropolitan
Iron and Lead Company, in the Lake
Superior region, was also clearing 25 per
cent, on its capital. The Age stated that
the shares of the company, the par
value of which is S25, were then "close
to SIS" and it goes on to state facts
which explains thatenormous premium.
1t says: THE company's mines will
greatly increase their output, and a
very large part of it has already been
sold at an advance on last seasons
prices Unless an unforeseen revision
should occur in the trade, or mining
operations be seriously impeded by
some accident the year 1890 will be the
greatest in the company's history, both
as to production of ore and net results
to stockholders.
Twenty-Five per cent dividends and
still higher ones in prospect and the
United States Senate afraid to give the
seaboard manufacturers slightly lower
duties on iron ore lest the Lake Su.
perior people should be hurt!
This Thomas Company already re.
fcrred to, has an equally cheerful out
look. The latest number OF Brad
streets says: "The Thomas Company,
the largest producer has the smallest
stocks on had for months 1t has none
for sale at present prices, and in fact
can hardly keep customers supplied who
have contracts"
81. Paul rs - Protectionist Authority.
Ono OF the high tariff speakers in the
Senate recently quoted St Paul as an
authority on the side Of protection.
The power relied on was that in which
the apostle declares that the man who
doesn't look out for his own household is
worse than an infidel
The protectionists always have been
unfortunate when they appealed to
Scripture OF all the men OF the olden
time just the one who had the most to
do with abroad was this very same
st Paul. He is the great cosmopolitan
tho citizen OF the world.
l!csides, his advice in the quoted pas
sage is exactly what the protectionlsts
decline to follow. 1t is their own house,
hoid-their own country-that suffers
through their wicked laws And after
doing their little best to ruin the in.
dustrial interests OF the United States,
and after having killed the broadcloth
industry, the fine linen industry. the
sh p-building industry. II is rather
cheeky to claim to be disciples Of the
great Apostle to the Gentiles.
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Before the election the Kansas CITY,
Kan, Gazette (Rep.) had this to say:
Protection is all right but the people Of
Kansas are getting tired Of lop-sided
app casion OF 1t. They voted for tariff
reform in 'ss They didn't vote for free
trade neither did they vote for pro-
tectise Chinese wall They want pro-
lection that protects where projection IL
needed and not q iot mora" The pso-
! pie have shown that they ARE ''tirs1."
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