The times. [volume] (Richmond, Va.) 1890-1903, 1891-10-22
IRON PRODUCTION AND CONSUMPTION.

All the statistical returns as to the amount
of iron now being consumed in the United
States would indicate better state Of bust
ness and higher degree Of prosperity than
are generally recognized.
The iron Age. the leading authority in this
country on the condition of Theron trade. has
been at considerable pains to collect the fig
ures which show the comparative rates Of re-
cent weekly production. According to this
authority the production was lSl ,6l5 tons Oc-
tober 1st, against 10 SIG per week September
lst and l79. 1853 year ago. This represents
difference of 10. 1000 tons for the corresponding
weeks ending October LIST and September lst.
and the difference in tho rates of production
for the weeks ending October lst and Novem-
Der lst viii probably be very much larger.
1t is a significant fact that the rate Of pro-
duction during the last six months of the
present year, as far as it has gone, has been
greater than it was during September, August,
July. June, Nav and April. the correspond
ing months Of last year, the production OF
those months being up 10 that time the
greatest in the history of the United States.
Since July the rate Of production has been
ia. 5l2 tons a week, while for the correspond
ing period in 1890 the rate was III, 695 tons, a
difference Of nearly 5000 tons.
One result of the enormous rate at which
production is now going on is that the stocks
on hand are either holding their own or they
are showing slight additions, az may be seen
from an examination of the figures which the
Iron Age has collected with reference TO the
uusold stock of pig-iron. These figures are
only intended to cover about two-thirds Of
the coke furnaces Of this country, fve-sixths
Of the charcoal furnaces and nearly one-half
of the anthracite furnaces. During the month
Of September there was an actual decrease in
the quantity Of anthracite and charcoal iron
on hand and unsoid, but a small increase in
coke iron.
The aggregate Of all the pig-iron unsold, in
all the furnaces for which there are accurate
returns. amounts to ass 400 tons, against
4c5,s2g September lst. This is really a slight
falling of in quantity but it is especially re-
markable in the light of the fact that the rate
OF production IS so high.
The prevailing low prices do not appear to
have influenced the owners Of furnaces 10
diminish their output. On the contrary,
although the prices of plate and structu-
raj iron were last week lower than they have
ever been known to be, nevertheless the pro-
duction OF iron not only increases, but actually
promises to rise TO still larger proportions in the
near future than ever. What is the explans-
ton of this apparently contradictory fact. for
It is recognized that low prices generally cur
tail production? The rate of production is
increasing because the rate of consumption is
increasing, but SO far the capacity for produc-
ton has been even greater than the capacity
for consumption, which, however. has been
sufficient to prevent any further decline in
prices.
There has been comparatively small de-
mand for rails this year. but the demand in
other lines has been greater than usual-in
the building of cars. for instance, the
construction of bridges. the manufac-
ture Of agricultural implements and
machinery. The principal consumption
has probably been In the erection of build
ings. tho construction of street railways and