The Big Stone post. (Big Stone Gap, Va.) 1890-1892, 1891-10-02
soUTHERN INDUSTRIES.
A Pig-Iren man on the outlook--Tilo
Future Full of Promise.
.fLouisr;ile Post.

louisville Fost.)
ir. Archer Brown, Of the weli-known
pig-iron firm Of Rogers, Brown & Co, was
in Birmingham, Ala, last week, and in \
interview in the Birmingham Herald on
the industrial and financial situation, said:
'sThe general outlook in iron IS more
encouraging than it has been for two
years. During ali this period of hard
times and low prices, it is remarkable
that there has been little or no reduction
of output of the furnaces, and no increase
Of stocks. This is true both South and
North. in Tie Birmingham district pro-
duction is now going on at the highest
rate known, while prices are the lowest
recorded. This convinccs the outside
world that the district is on>a very sound
basis, and Will be all increasing factor III
the iron world.
'sOf course this would have been i'm
possible if necessity had not taught
economy. Pig iron is nov being made
lower here than was thought possible
three years ago. Fuel has been improved
and better furnace practice introduced;
less low grade iron is made, and the who'e
tendency has been toward better quality
Yes, the Southern irons now go every
where Ny firm sells almost as much to-
day in the State of New York rs 1T does
in Ohio. In Canada there is growing
trade. Through the Central West it is
now established as the basis OF mixture
for all foundry work and in mo-l OF the
roIiing-mills. liz Chicago, ieseiand,
Buffalo, Piltsburg, ETC, where il meets
1oca, furnaces making iron trGn Ia re ores,
It is still needed III large quantities to
mix with such irons to CORRECT shrlnkage,
hardness, etc.
.Mr. Doepke. one Of the large stock
holders of the rcorganzed pipe works at
Admission. is with me. We are both
struck with The suppression of The boom
spirit. Speculation seems to he stopped.
This is very encouraging. What the peo-
pie want to do down here now is to work
and save. Let real estate alone for ten
years and put in good licks in your fur
naccs, pipe works, rolling mills and other
industries Save the surplus earnings,
stop paying interest, and in few years
the cry Of tight money will be heard no
more
"There is lots of money in the country
The largest bank in Cincinnati, OF which
have knowledge rs a Director, has had
the hardest kind of time for six weeks
past to find an outlet for its surplus.
Anyone with good collateral can get
money rs cheap as at any time within five
years. The only hesitation is on time
loans, and this is through fear of silver
legislation. II the Southern people will
knock the free silver movement i'll the
head, and make such legislation impoSsl-
bic, it will not he three months before
money will be flowing this way again as
freely as ever. Capital will not take
bonds or invest in new enterprises while
this cloud hangs over the future.
Gas to the outlook IN the pig-iron mar
kct, ] feel certain we shall see improve
mcnt twill come slowly, and l hope
the advance will not be large. If it is, it
will mean inevitable disaster q little later.
AT a dollar ton advance there would be
but little blowing in of idle furnaces,
and no building Of new ones North. But
two dollars wonld stimulate great activity
everywhere, and crop of new iuinaces
along the lakes you'd soon spring up. |
am glad to see the South realizes that the
way to success is in low cost and high
quality. That is safe and sure platform.
High prices are vain lelusion.
Il am glad to be able to say that Gin
cinnati is turning her attention to the
South more to-day than ever before.
Our pipe company alone is spendingover a
quarter Of IL million dollars in Alabama
and Virginia. Several of the Alabama
furnaces that have newly started have
been assisted with Cincinnati money.
Our people are very slow and conserva-
tive, but when they find that the boom
business is oyer and things are down to
the basis Of steady, hard and profitable
work on your splendid natural resources,
there are millions CT money in oar town
that will be glad TO stop hunting for per
cent ground rent and come down and
join You.
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