The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1896-08-25

Pittsburg, Aug. 24.-Iron and steel
men have cheering news. They say
they see the signs of dawning prosper
ity. They are counting on boom in
the iron and steel trade after the eiec-
tion, ana they are not men who are
likely to get enthusiastic without sub
stant,ti reason. Their hOpefuness Is
siEu'f.ca.t because it has long been an
anon. - thn commercial world that
the ;.~sr 't.:iness is the barometer OF
tr.,a these manufacturers are re-
fus.rE long time contracts, except at
advanced prices, and they are getting
many idle plants in readiness to re-
sumo work.
The iron and steel men base their
predictions on the belief that the bet
ter sense of the American people will
defeat the free and unlimited coinage
of silver. 1t may be urged that this
is an unsubstantial basis. but the men
in the iron trades are not sentimental.
They have millions invested in plants
and stocks, and their judgment is not
founded on mere desire or faith. They
have too much at stake for any such
uncertain rule. They insist on facts
as the basis for reaching conclusions
about trade, and they have taken
means to get at those facts. They find
that the east will be solid for McKin-
ley, whose election means protection
as well as sound money. They have
satisfied themselves that the silver
sentiment is subsding in several of the
western states that We're in doubt sew
cral weeks ago, and the electoral vote
of these are counted for the Republi-
can ticket.
CONCLUSIONS FROM JUDGMENT.
These are not the conclusions Of
politicians who have contracted the
habit of making Il bluff by claiming
everything. The big men in the iron
and steel business have connections
with business men in all parts of the
country. and these are men whose
opinions are entitled to consideration
The change from doubt to hopefulncss
began imm ediately after Candidate
Eryan's speech in New York. The
cheerful tone has been growing stead
lily stronger, and iron brokers today
declared that the Importation of gold,
although only matter of a few days
had already had marked effect Tor
the better. They say all the indca-
tons now point to a brisk demand for
pig iron and finished product.
Iron and steel men are acting in an
ticipation of revival of trade next
winter. Confident of more PROSPEROUS
times. with a greater demand for their
product. they are showing much hesi-
fancy about entering into longtime
contracts except at prices that are
above ruling quotations. In explana-
ton of this change in their policy they
sGy they count on boom after cleo
ton. whose results they expect will re-
store confidence in the business world.
WAITING POLICY WILL END.
Buyers have practiced n waiting pol
Icy for several months past on account
of the uncertainty of the outcome of
the election. There has been a big re-
duction in the production of pig iron.
Much of this was due to the impos-
sibility of getting paper discounted by
the frightened banks, and this forced
the furnaces to shut down. The sit
uation is being faced philosophically,
and throughout the trade there Is a dis
position to give all the hexibility to or
dinary usages that conditions will al
low.
a number of big manufacturing con-
Germs are making preparations to re-
sumo operations, In expectation of a
brisk demand for their product after
the election. Among these are the Re-
public iron works of this city, which
will start their 10-inch mill Monday. The
pudding departments are being put in
order for operation, and as soon as
repairs under way are completed the
works will be put in full operation. The
Oliver wire mill closed down tonight
for repairs, with the expectation that it
will have a long run after resumption.
1t will start up again by Sept. 1, and its
managers are making preparations for
heavy run of business Other man.
ufacturers talk of increased activity
next month, and the cheerful feeling
In iron and steel circles is having BEN
eficial effect on all lines of trade.