Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1895-08-03
The strange SITUATION
Now Presenting Itself in the Iron
Trade.
Bessemer Cannot Be Bought for
Delivery in Less Than Ninety
Days-A Discussion Of Conditions
by Col. Philip Henry Moore.

The present condition of the pig iron
manufacturing business is not only
anomalous, but presents an interesting
subject for study.
After a long season Of depression
almost of stagnation-in the trade, the
demand for pig is now such as to push
every furnace in this part of the country
to its utmost capacity, and even then
not only is any accumulation of stock
impossible, but orders cannot be filed
inside of one to three months at most
furnaces.
The situation has been intelligently
commented upon by Col Philip Henry
Moore, editor of the Ohio Valley Manu-
tacturer, in an interview in the Pitts.
burg Post, which is here reproduced:
Inc situation is SO peculiar as to he al
mos phenomenal and il is somewhat haz-
ardous 10 speculate on what may follow
Dut from careful diagnosis of the situa-
uQn, aIter comparing the elaborate data
Which l nave collected each year for sew
gIaI years' lock for an uneXampled de-
hana Tor iron and steel in all its forms
Tor me next two years at least. and IL may
continue much longer The stocks have
| been exhausted, and the demand came on
'"r"tllt anu HIS Dttil 50 cumulative,
lhat there has been no time to anticipate
demand, and il is all the more remarkable
because IL was scarcely expected by the
most sanguinc. Prices are up to the point
Wnen imports Of pig iron might almost be
expected, but here again we find condi-
uoh Whlch is as yet uneXplaiuable for we
nave been exporting pig iron 10 England.
However. the advance here will stimulate
| prices there. and as the prices in the two
countries maintain a parity the British
price pius the duty and the cost Of trans
portaton, viii prevent importatSns. We
can therefore look ahead with ca idence
that our furnaces viii be kept Ny for
some time. Prices in finished products
| nave begun TO move up in unison with the
! increased cost of raw materials. but those
1urnacemen who have no stock of ore Will
ma II dihlcult to get il, because OF the
great demand from the larger plants,
when buy heavily and whose trade will
another good thing is that sellers of
all products are in position 10 select Gus
toners and those whose financial ability
70 pay promptly IS questionable VIII ind
IL difficult TO get supplies, but the enor-
nous demand viii give them in turn an
| opportunity TO demand quick payment,
which will help them, and they will come
out Of the struggle with increased
strength"
Col. Moore accounts it a happy thing
that the conditions which prevail are such
that a Presidential campaign year cannot
materially affect business. on this phase
of the situation he said: There are no
indications from any quarter that any
party is demanding further reductions of
the tariff, and this factor has been one OF
the most potential business bugahoOs in
the past twenty years. Next year men
will he in a position 10 pay no attention 10
the clamor of politicians. and keep on at
their business REGARDLESS of the clamor,
because they know We are down to the
point the free traders have demanded and
/ that no political party VIII dare to upset
| stability by renewal OF an agitation
/ which was damaging because the results
We're conjectural rather than material
/ Men were afraid. because they mad no ac-
I tual knowledge as to what the results
/ would be- and their fears prompted cur
/ tailment Of operators. and were communl-
Gated TO others. The result Of this was
tremendous in the aggregate erect Kali
roads hestated 90 come into the market
for needed supplies. and their business
fell Off to the dividend passing point as a
result. Now they are coming into the
market because they must. Prospects or
good crops and the dissipation Of the sill
yer craze as sequel 10 reviving industry
have given TO tho< money men confidence.
and new enterprises which have been held
I back for two years are now being carried
forward creating demand and helping 10
give an impetus which is Wide-reachns
I'm results. ReViVing Industrial ana com
morcid activity is pushing the railroads
=, to furnish better facilities. and they are
coming into the market for supplies at
rate which still further accentuates de-
mand. All these factors are cumulative
and when considered en- maSSe give con-
dition which is difficult To- see how II can
be upset for some time IT present ! can
see nothing which is menacing 20 the con-
tnuanSe Of activity. and DO not find any
croakers i'm my contact with manufactur-
erS
'NIachinery is I'm demand, foundries are
busy: tin plate has advanced i'm conse-
qucnco of higher wages I'm Wales. ana ms
branch of the iron ana steel trade, Whlch
was really i'm the worst position OF any, is
now looking mp with the others. Alto
gether I may say that so far as can see
we shall have enough 20 do 20 attend TO
business. and we may rest assured that
any uneasiness which may be entertained
regarding the money medium may be dis
sipated from our minds, and we may per
nit that question 20 be adjusted by the
operation of the natural laws Of COM
merce. Money is plentiful confidence is
growing and Europeans will coIEe here 10
find profitable investment and thus help
things along"