Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1895-12-12

the mast season nearly 100000 tons, or
about one-hfth Of the entire output Of
the lake Superior district.
The iron and steel industry for some
weeks past has been awaiting with deep
interest the action Of the mining COM
panies with reference TO the price of
ore under contracts for next season.
There has been a prevailing belief that
a combination Of ore producers would be
made. The Iron Age Of the 7th inst.
said in its weekly repOr, from Pitts
burg
"The most interesting news OF the week
is that combination or ore men mas n'-ti
effected. the Nesaba interests pelns lu-
GUIDED 10 is given out ln4J D, Is on ..
strong lines q large sum being depoelyeu
oy the different operators plelglus tlelu
selves 20 maintain prices. umll lne-I Oll5
pt 90 the tonnage that may le az 49,
upon &c. Following closely upon lne
heels OF this statement comes Ile o.5
nouncement that $40 has been agreed
upon as the price for ore next Season
This has not been confirmed. and tnpSe
posted say the figure Is entirely TOO hlSh
and is NOT warranted DF present Gomez,
tons Should 30 prove true tnal On VIZ WI,
he 81 Cd next year, % can o. r-'l 80 e.
certain that coke win not be less IMAM .
per ton"
The coke supply for the Western fur
naces is now practically controlled by
the Carnegie interests. The average
price in 1894 was 81 per ton, and it
should be said that this was an abnor-
mal rate. but the average has been 81 in
only one year $500 during the last tf-
teen years.
Since 1890 the price Of iron ore has
been falling. the decline having BEEN
for fine Bessemer ores. about so per cent
For example. Minnesota No. / Bessemer.
which sold at $3.50 in 1890, sold in 1894
al 1885 and in 1855 at sS4O. The No. /
Bessemer hemstites Of the Goeb.c, Mar
ouette and Menominee ranges sold at
IS in 1890. S475 in 1891, S2.75 in 1884,
and $3.50 IN 1895. These are the official
figures for season contracts The cheap
Is mined Mesaba ores We're IN the mar
ket during the last two years, and the
price Of an other ores was affected by
them. Mesaba Bessemer sold in both
years at $3.50. and Mesaba non-Besse-
mer at Sis. All these are the prices
of ores delivered at Cleveland.
AS about 124 tons Of Besssmer ore and
about ] ton Of coke are required for the
production Of a ton Of Bessemer pig iron,
f. win be seen that the price Of iron is
seriously affected by the cost Of these
raw materials. The very marked reduc-
ton Of the price Of iron in 1898 and 1894
was due in a large measure. although not
wholly. to the reduction Of the cost Of
ore and coke. At the beginning Of this
year Bessemer iron was selling here be
low the price Of similar iron in England.
The price Of good Bessemer ore on sea
son contracts for 1894 and 1895 ranged
from $3.50 for Mssaba No. TO $40 for
Minnesota No. 1. 1t IS stated that, with
ore at 1920 and coke at 81, iron can not
De made at the price for which it is now
sold
As the New York Times points ont.
the iron and steel industry is Of such
great and growing Importance that any
project for subjecting its raw materials
to- the control Of a combination deserves
the careful attention Of the public. IL
does not yet appear clearly that an ore
combination has been formed, but one is
under consideration. and it is predicted
that it will be organized. The purpose
Of those engaged in this project is to
fix prices and 10 limit the output Of the
several mines or mining ranges. 1t is
impossible. as our New York cOntempor-
airy truly says. for intelligent persons IA
mIiar with the growth Of the iron and
steel industry Of this country, who see
how bright the prospect Of the expan-
sion Of the industry under natural con-
ditions has become to regard this pro-
ject with compla.sance. The natural
ana legitimate effect Of the discovery Of
those almost inexhaustible surface de
posits Of ore in the Mesaba d.strict-Ore
that is mined. and at the same time
loaded upon cars. with a shOvel-would
have been to establish the supremacy
Of the American iron industry through
out the world. But if the exceptional
advantages which this country ought to
enjoy on account Of those deposits are
10 be withheld through the influence Of
a combination that shall limit output
and fix prices, the progress Of the Am
erican industry toward its ultimate SUI
premaoy VIII be seriously retarded.
OUR SOUTH AMERICAN TRADE.
H-sv----