New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-05-28
LILLE lion NANEEiCTTRES.

The annual report of the American Iron and
Steel Association a document which is in much
demand on account of its statistical value, ana
* therefore supplied to those not members for
81 ner copv by Mr. James VI. Swank. the man
ogcr exhibits two striking facts a fall in prices
which is almost without parallel, and in spite
If II q production exceeding that Of any year
prior 70 1850 The two facts 90 together. ana
constitute evidence Of extraordinary progress IN
the best and most enduring sense. \ growth
which is mainly in answer 10 temporary scarcity
and extreme high prices is apt to be followed
bv severe and prolonged depression. But 1t is
clear that the very conditions Of iron production
in this country have radically changed when
after decline since 1ssS of SO per cent in the
price Of Anthracite No. at Philadelphia ~ per
cent in Bcssclncr and II per cent in Gray Forge
M Piitsburg the production is even now larger
than in lsSS or in any previous year in the his
tory If the country.
II j. true that only part Of the furnace ca
paciiy is now employed. The association states
tina; the production was 92O2 703 tons in 1890
and the capacity Of completed furnaces became
I'm that year about l4Oooooo tons. The maxi
mum output yet attained In any month was l9"
9oe tons weekly. March |. 1892, which would be
year. 50 that The actual production in 1894 was
about twoihrls of the maximum. But the ont
nut now depends largely upon The demand for
consumption rather than the price. and could APP
uar.nily Dee maintained ut the rate Of nearly
scvrn.cighfhs ~ the maximum without much
rise in prices If consumption were sufficient The
actual consumption last year is placed M t,ilS.
$50 tons in all forms II the manufacture, against
that
since this year began the consumption has been
larger than in 1894. although production has
been diminishing 10 meet it since last December
The surprising change In the character and
capaciiy ~ furnaces is placed in strong light
by the statement in the report that the number
"of furnaces in blast nj the close ~ 1884 was The
smallest AZ the close II any year except lS4
during the whole period covered 10y the table"
namely twcniy-onc years. The substitution or
powcrfrl and economical furnaces for others ~
inferior construction was the secret of the cnor
nous increase in production up 10 1893. and Of
the surprising decrease in cost exhibited since
the depression came Great improvements have
also been made In the methods and cost of turn
ing plgiron into forms for final use that
prices Of such forms have in many cases been
reduced more than prices Of pigiron. and these
changes were tp u great extent erected U1or'
the depression came. though il did not appear
until after thar depression how great were the
economies effected 10y The use Of new and i'm
proved machinery. II j. not 10 be forgotten. of
course. that extreme low prices were attained
only with the lowest prices for fuel and ore
which could not long be- maintained. and with
the lowest possible wages for labor which were
beginning 10 produce strikes in many quarters
when the recent advance was conceded. But II
X something TO know that the Industry has
progressed 50 far that prices higher than ruled
al the close Of 1894 are due not 10 other clc
mcnts of cost. bur 10 wages paid in mines. coke
works and furnaces.
Exports Of iron and steel products were In
quantity probably larger last year than in any
previous year Although prices have remark
ably declined. the value of such exports was close
10 S3OOOOW. and have remained close to that
figure each year since 1890 II Is not the foreign
but the domestic demand upon which this great
industry must always depend. and The most in-
porant development of that demand In recent
gears has been in the Of steel in BUILDINGS
Of structural forms JOJ.M gross tons were pro-
lucrd last year. about ninc-tenths In pcnnsvl
vania. which goes far 10 take the place II the
decrease ~ S,s,OOO tons in the quantity of rails
produced since 1890.