The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1895-09-03
NEWS OF OUR INDUSTRIES.
Happenings Of Interest TO tho Staple
Trades and Particularly to the Trade
In Iron, Steel and Anthracite Coal.

Philadelphia Times: The iron trade
OF this country has suffered long ana
serious depression. hut the signs are
unmistakable of a healthy and endur-
ing revival of prosperity in that I'M
portant branch Of our industry. Let
American iron men take care TO pre-
serve their own market, and not thrust
1t away from them by inordinate greed.
In 1882 a severe depression In the iron
market was followed by brisk revival
of demand and increasing prices. Rail
roads needed an unusual amount or
iron, and when general prosperity came
upon the country the American manu-
facturers could with difficulty supply
the demand for home consumption. In
stead of holding the market to them
selves when they could secure large
profits for their products, they in
creased prices simply because 1t was
possible to do SO until they got quite
beyond the protection line. and Europe
Immediately dumped millions of tons
upon our shores. The result was a
speedily broken market and American
iron men were bankrupted by their own
suicidal folly. Iron has been rapidly
advancing for some months past, and it
Is now commanding price that affords
a liberal profit to all who are properly
equipped for its production. Whether
our American iron men shall enjoy the
fruits of this advancement in our gen.
eral prosperity, or whether they shall
give the benefit of it to European iron
men depends wholly upon themselves.
If they advance the price of iron ma
terially beyond its present rate they
must again invite the importation Of
hundreds of thousands Of tons Of for
eign iron, and again destroy their own
6iI thirfoon
ago Our iron manufacturers can sup
ply every demand in this country, and
even more and ii Is not only the inter-
est of the consumer but the interest Of
the manufacturer as well that prices
shall not be advanced to a point that
must again make this country the
dumping ground Of the iron men of
Europe. Don't repeat the suicide of 80.
The plan to be followed under the al
legged new settlement of the anthracite
coal trade difficulties Is as follows: 1t
Is understood by those cOnversant with
the situation that Mr.. ,Morgan's idea is
that the entire transportation matter
freight, coal and passenger business
should he settled at one and the same
time, and that one agreement should
serve to place the traffic of the railroads
between the seabOard and Chicago on
more stable and profitable basis.
This agreement. 1t is said, has been ap-
proved by the committees Of leading Of
ficers Of the Trunk Line and Central
Traffic associations. and will be rati-
fled by the presidents In the course Of
few weeks. In regard to the anthracite
coal situation, 1t is said the new basis
Of settlement will prove satisfactory to
all interests involved. OF course, the
output Of the different coal companies
will have to be settled before the new
arrangement will work perfectly. But
the point which will be first settled.
and which the coal railroad presidents
agree can be easily settled, Is what coal
tonnage each transportation company
Is entitled to carry. The new arrange.
ment, a pool. provides for the settle
ment of this question by arbitration,
based upon the output of the different
coal carrying roads for given period.
This matter having been settled. it is
said that commissioners placed in
charge of the bureaus for superintend-
ing all anthracite coal will receive
daily reports OF the amount allotted to
each road. AS soon as any company
reaches the limit II will be directed by
the commissioner to stop hauling coal.
The TRANSPORTATION part of the coal