Lancaster daily intelligencer. [volume] (Lancaster, Pa.) 1864-1928, 1890-01-04
LANCASTER, PA. January 4, 1880.
Pig Iron Prices.

The uncertainty as to the prices when
would rule in the opening months oi
this year, which prevailed during the
latter part of last year and when causeu
some nervous manufacturers to fear that
there would not be pig iron enough 10 go
around in 1890, is rapidly disappearing.
The present outlook promises s'eadihess
10 pig iron prices for some time at tne
figures of to-day. The president OF the
Thomas Iron company, who has
achieved q reputation for leading the
market by making early advertisement
Of his following 1t, has announced the
prices at which his company VIII sell
during the first six months OF the year.
and the whole group of pig iron makers
will hasten to follow i'm venturing TO sell
ahead for the year. To this time they
have been very unwilling To do this
q part of their hesitation being due TO
their ignorance as to how the railroads
would treat them and what the cost OF
their ores and fuel might be. There has
been an advance In the cost of making
pig iron which has gone long way tc-
wards eating up the additional profit of
the present prices and IL is supposed
that the end Is not yet reached IN the
advance In the cost of coke, which
has taken the lead of all things in the
price that has been added TO it. 1t is
expected to reach two dollars at an early
date, which will be double its cost ofnot
long ago.
The most notable thing in the advance
of pig iron prices has been the manner
in which Bessemer pig iron has climbed
up. 1t has far outstripped other grades
Of iron because of the demand for II in
the steel industry. The consequence Of
this again has been an advance In steel
prices far greater than in iron. Six
months ago steel or iron might often be
had indiflerently Mt one price but there
are eight or ten dollars n ton between
them now.
1t will result from this, Of course, that
the production of steel manufactures
will be checked and those of iron be
stimulated The cheapest material Will
be most In demand. This again will
tend to bring about the lessening OF the
demand for Bessemer pig iron and bring
it down nearer to its old level Of COM
paflson with pig Hohs th"e "h' ho'
make cheap steel. Another remarkable
thing about the American iron market
is its comparative steadiness during the
long continued excitement of the foreign
markets, where prices are still sailing
upward. The only effect produced here
has been to relieve our market of any
consideration of foreign supply. We
have to depend upon our own furnaces
and SO far no one seems to have sus
pected that they will he unequal to the
demand made upon them.
The political effect Of this condition
Of things should he to induce Congress
to let in free the raw materials of tn,
iron manufacturer. 1T is clear that th,
duty collected is tax laid upon our con
sumers. The cheaper the production o
pig iron is made the cheaper it can b'
sold With this help from Congress TIN
pig iron makers of the country vii
never again suffer from the competition
Of foreign irons, entered duty free
unless such as may be of particula
quality, or at seaboard ports distan
from the sites of the home furnaces.