New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-07-16
PRICES OF NAILS GO UP.
AN ADVANCE OF NEARLY 100 PER CENT
IN THE LAST SIXTY DAYS.
REPORTED AGREEMENT BETWEEN ALL THE MAN

REPORTED AGREEMENT BETWEEN ALL iiir' '''''-
rr,CrIRERs OF THE COUNTRY.
inquiry In the nall trade In TINS city yes'eruay
showed that there has been an advance IN TIC P'''
~ nails IN the last sixty days OF neary IV' pei cent
This IL said 10 be due to strong agreement WHO"
includes all the manufacturers In the country o"c
thing is certain. and that is that all the manu-
lecturers. agents and dealers in nails In this CITY
are now selling nails at the same prices d" wac
also learned that there is strong proono''s WA.
the prices Will 20 from 80 to ~ cents " ""'''''"
mounds on the average higher than they are a' Tue
nrescrt moment This advance Is Checked oh'y by
the fear that too much greed may promote foreign
competition.
Mr. t-,lcr the senior partner OF Fuller Brothers'
a leading firm Of nail sellers In New-iorK' NJ 40
ls9 Grcenwch-st., told Tribune reporter YESTERDAY
that he considered the advance In the price Oh mans
during the last sixty days result OF the sehtr"
increase Of business prosperity but admitted that
an agreement between the manufacturers not "
mt ont any more goods than they could sell a,
profit might have had something TO do Win H. Ac-
cording to Mr. Fuller nails have advanced more !"
proportion than other things. because 'e'e
had been more OF depression in this line IMAM III
mos. other goods lie cannot tell whether or not
-, -r,co will g, any higher. Mr.. Fuller said: 4
rog,r3 the advance as perfectly legitimate, outside
NJ any agreement that there may have been be-
tween the manufacturers. The fact that therc was
a reduction OF 10000 tons In stock pig-iron curing
the month OF June Is good proof that the consump-
lion * now ahead OF the supply In the hands Of the
f,rnsbors Yes the thing mny be overdonc ana
~. market opened to foreigners In certain lines
do not believe however. much in the danger OF Tor
eien competition in the nail trade. The danger N
IN the foreign shipments o. raw material In the
shape OF steel blllets and pis-ron. That would
check the tendency to advance the prices here
Charles H. Stcbbins. agent for the f. q j. froke
Iron Company said that true that the price OF
nails had advanced nearly 100 per cent In the last
two months Mr. Sicbhins said that sixty days ago
the average price OF nails Of all kinds was about
81 ~ the hundred pounds while now the average
yrice is about s. 20 the hundred pounds There IL
no question" he went on that s. 80 WAS too littl"
and now there Is danger OF the high price IN
wiling foreign competition. At 81 20. with the freight
and other charges nails could not b. sold =, "A
profit. and IL advance had not been brought
about it is certain that many manufacturers would
have been Obliged - 20 out q business. 40 not
have much fear OF foreign competition. although
there Is not murh of 4 au'y on mans. s,1.a arr
rather article f0r export have Just aAipi'l a
large lot to China. and cary this year lot 81 teV
kegs was sold In London. The sale OF nails Is not
80 large in New-York city AZ one would suppose
coop ont ~ tho country ihan Il docs % put up
sky-scrap'r in New-York The mats H. an ,otci.
So AMI The present ncreis s pricrs mAke ,pan,E
builders pay about double they formerly lid iof the
ais they In their new houses
Mr. Freeland OF Boarlman & Lowell No % West
ST said that he was aware o. the rise H. the prc.
OF nails and knew that IL due - . combination
OF manufacturers who had come - tn" conclusion
that VAS not worth while 10 continue 10 make
nails at "A loss.
Runyon O.. Vielc the Washlngton-si. dealer. sail
that ne considered the statement that nails hal
gone up loJ Per cent In two months as misleading
10 those In the trade Mr. Niee cxp.aln- n this
way. "Suppos. the base 80 nails 81. II the
price advanced to g. ina; would not moan no
per cent. Why Because the base price had bern
advanced bat not tho extras. The extra means
any size under the base standard Of a.
Mr. Nicio says that he does not conslicr that the
agreement means = nall trust.
Al one house the excuse or tho advance made IN
the price OF nails that the cost OF iron Is
greater than Il was.