New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-10-22
THE IRON TRADE BOOMING.
pzospERIrY IN THE GREAT PENNsYL-
yANIA DISTRICTS.
THE OLD STOCK DISPOSED OF AND FURNACES
WORKING TO THEIR UTMOST cArAc1rY-A
RESULT OF THE REPUBLICANS
RETURN TO POWER.

Heading Penn. Oct q (SpeciaD.-The middle OF
October marked the greatest movement IN the
Mig iron market In Eastern Pennsylvania IN over
two years. and this Is what is giving all classes
~ business such a strong assurance OF per-
uanent prosperity for the entire country FOR
long time 10 come. Since 1895 there has been a
s,aGnation In the trade. which has resulted III
the shutting down Of number OF the largest iur-
naces and in curtailing the production at leas.
one-halt, while those that were kept running found
little market for their iron. and thousands or
tons of pig were stacked up In the vicinity o, these
plants. This was the situation last spring III
this city and nelghborhood he pled-up iron
around the furnaces amounted 10 fully nifty thou
sand TONS and in all Of Eastern Pennsylvania
fully one hundred and fifty thousand tons
With the nrst indications of the revival OF busi-
ness came a demand for more iron, and the FUR
naces were enabled to get rid OF some or TINS
surplus stock but. OF course at low prices Ihis
demand came from all classes of mills using iron
Z, n. va rious forms for their finished product and
Il evidently was largely tho result of the BELIEF
that better times were at hand now that fe-
publican Administration was In power. ana that
a tariff bill based 1rotection was assured These
niles OF pig iron have been rapidly disappearing
for the las, three months ana this is one Of the
reasons why there has been such an increase IN
the business OF the railroads. During the last
month additional plants have started. and now
thore Is healthy feeling in the iron trade for
the first time in several years. All the best
eou,pped anthracite blast furnaces having the larg
IS. capacity are in operation and 1t Is pre-
dicted that by November l others Will be blown
In that have been idle for a long while.
II Is known that at least three more Schuylkill
Valley furnaces will resume, and from reports
received here there Is every indication that there
are others elsewhere which are preparing 10 be-
GIN The disappearance OF these immense STACKS
OF iron from the neighborhood OF the furnaces is
considered by iron men one OF the most important
movements in the trade in decade. Nothing
IN
Mus iron represented hundreds Of thousands OF
dollars and the wisdom OF those who kept their
nlants running is now shown by the fact that
they were enabled to dispose OF this surplus so
rapidly with the return OF good times
Within the last few months there has oeeh
ra,d increase In production but. best OF all there
is no longer any stock; tho trade is taking
II almost as rapidly as turned out. PiS IRON Is
now selling at % TO 80 cents ton hiGhet IMAM
IN September. and all finished iron is higher. IL
IA nred,cted that prices will continue goirg UP.
Furnace men report a brisk demand for pis lron
and they indications that 1t viii cease
after the fal! trade is over. They peneVe ina.
there will be continuance. In view OF gooo
spring business.
An authority on the subject gives these figures
for the purpose OF showing the increased business
that the furnaces are doing: a year ago ABOUT
one hundred and thirty In the entire country were
IN operation. and they were turning OUT possibly
uacoD tons a week. On August l OF this year
ton to between 10000 and 5000 tons week nut
s,ncs then there has been such an expansion III
the trade that one hundred and h'ty furnaces
are now in fun blast and their weekly pro"IF' ~
over roo tons a week. or locN.o'" tons u year
for which, from present Indications. there VII he
An active demand. without the necessity OF pl!.ns
u" Ths reSnction Of stool, aud Increased productio,
have placed the business On a SOUND basis inere
are still about one hundred and ninety furnaces
t ot over n 'hs s SS'iTs on SoNb b"t S
they for the nest Pert small r,nnrs ana son
marked for disman,Iins purposes, but have been
carried along Tor sos years IN TIE genera gene az
IN the entrs schuylkli Valley says thu, if al the
we're put into operation at once ana pushed TO
their utmost they could hardly turn out 10000 tons
Week It % 1 shSi Dc $3.50 tons there is no
reason to doubt that the trade is once more on
Eastern rsnnsyv1ns ,hfss sgrss are a
,hss F Tse arc sehqyb a. ta Weekly Pacy @
ions ThTsen 3 are out e , hast sSpas
ions L e,saa F Valley OF tn f
sssa,r PEST a ihs ws ssh Ss Of : 2"i
upper susauehanna Valley furnaces n proauGe e,r ~
Snsapehsnna s tons in oy the - 5 o time weck
eacs. TIC ''''.'' 81. ,.n.ns 60.
CARS 70 great eu1ni;!,ei, Of pig r0 u
out Another important matter in connecti1n Win
the iron trade is the fact that rnsny OF the oit-
alma iron pIsnts have gone out Or bias. ! MS ~
especially trnA OF the charcoal furnaces, most q
which have dropped out OF the race. Giant "stse-
lsbnents have come to the front. Al mary points
in the schuylkill Valley are TO be seen The cruLa-
bling remains OF what were once busy iroEworks.
many OF which have been entirely dismantef In
the district named above these furnaces IL IuiEs
orpinav cost 81 90 o00 build. and, In tfeir ocSc-
aton ten the story Of the great progress the iron
There Is al present q movement among iron men
to request the railroads 70 give encourageNeGt ~, 10
the business by low freigh's on coal ores ana the
product OF the furnaces. a conservative authority
on the subject says that the present prospecis
should nor be an inducenIert for the erection ct
rev plants because they might again lead to over
production and dem9raSaton Ge te fpnnce;
should be. operated to .h.;r fullest Gapa,ct{ as
hearty cooperation 70 this end among furnace men
generally.
4 TILE OLE A RITERSIDE DRIVE UOTEL.