Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1890-01-02
THE IRON TRADE.
Joseph ID. Weeks Fears Reaction From
Present Prices.

Joseph ID. Weeks Fears Reaction From
Present Prices.
Mr.. Joseph D. Weeks, Secretary OF the
Western Iron Association, is thus quoted
by Pittsburg paper:
1--WE have not received any communion
tim from the Eastern men asking for a
conference, either on the conditions Of the
markets, or regarding the matter Of extra
prices. There seems 10 be feeling abroad
that the Western Iron Association should
meet to consider as to whether the state OF
the iron market would not warrant an ad-
vance in the card rate, but, rs far as am
at the present moment able to judge, there
is positively no necessity for its meeting
for any such purpose. The condition Of
the iron market, in point Of fact, does not
warrant any advance being made. II you
will notice the recent advance in prices, or
'bcom'-as some people insppropriately
term it's in steel products and not in
iron. Business in rails and steel products
generally is very good, while iron remains
stationary.
"The outlook for the year is very en-
coursgipg. The volume Of trade has in
creased wonderfully in somewhat limited
time, and am preparing figures on the
subject which will show that the increase
in the years trade is very great. The
expectation for next year is very good, bat
with regard TO the future of the iron and
steel markets it is really very hard TO
know what to say. Ii is very curious
condition of affairs when steel continues to
advance as it does while there is no sppre-
ciable change in the iron market. will
not attempt to explain this, but ii is just
q nice point to foresee what will be the
outcome of the present advance in the steel
market. 1t may be that we are entering
on a period of unusual prosperity, and
thst there msy be legitimate reason for
present prices being maintained, but /
think, for sill that, it is unwise 10 regard
the boom as anything more than an un-
usual stimulus applied to special linee, and
fears should be entertained for reaction.
The advance in prices regard as singular,
and must confess am not prepared with
an explanation.
"The iron trade in the latter end Of the
year 10 iE fCiy uuuCu bctNct SouuAtiOu thah
at the commencement. The improvement is
likely to last, but then, again, it is impos.
sible to say when drop might occur. Ex-
perience shows US that every period Of in
crease or advance is followed by CORE
spending period Of depression, and while
the advance never reaches the point Of the
previous rice, the depression always falls
point lower. Thst the fall is lower each
time is due to the increased facilities for
cheaper production which are brought into
vogue, the outcome Of the necessity owing
TO falling prices. From advices from Eue-
land learn that the English expect to do
q large trade with us during the coming
year, hut think they will be disappoint-
ed. Ten years sgo Americans were badly
bitten by making large investments in the
Eoglish product when the condition Of the
home and foreign markets seemed to war
rant them in doing so. But the reaction
came, and when the time for delivery ar
rived the American market was uudersell-
ing the English. Just at present Eaellsh
steel is selling at higher figure than the
home product"