The age-herald., 1898-09-07
IRON TRADE IMPROVEMENT
From the New York Times.

IRON TRADE IMPROVEMENT From the New York Times.
 | Now that the war with Spain is over the iron trade will, in the opinion of competent authorities, re-enter upon that natural de- velopment in which, according to general 1 acceptation, it had been progressively pro cee0ing when interrupted by international hostilities. Instead of an exceptional stim- ulus being felt in special departments of the business. larger and more profitable de- I mand for iron and steel of every kind is now looked for
 MT. Archer Brown, of the iron house of Rogers, Brown & Co.,, discussed the iron trade situation yesterday with represen- tative of the New York Times. Few men in the American iron world have opportuni- ties equal to MT. Browns for studying at close range the conditions governing the iron industry, MT Brown being the resi- dent partner in New York of concern which covers the trade of the entire United States from nine different headquarters, and which is in thorough touch with the export business from New York.
 '"The situation in every department of the iron trade Is satisfactory" says MT. Brown. "There never was a time when speculative influences were more completely wanting than now Both consumers and investors of a speculative turn have taken hold free ly number of times in the past five years and discovered later, to their cost, that the market only had a. false heart. So the markets are now left entirely to the con- trol of legitimate influences, and makers and dealers are heartily glad of it. "The war had depressing effect upon both domestic and export trade, though IL greatly stimulated activity in certain spe- cial lines, such as those connected With steel and iron for proJectiles, armor piate gun carriages, ana so forth. The agsre- gate of the whole business, however, was scarcely more than that of a single large contract for cast iron water pipe.
 "Now that the war is over and municipal, railroad and industrial bonds find more ready sale, there is naturally enough larger demand for all classes Of iron ana steel New construction is not so much of a feature yet as enlargement and ex- pansion of every kind. Railroads are HI, feeders sidetracks, etc. Larke industrla concerns are overhaultng and increasing their plants. One large agr1cuiturad iHi- plement maker in Chicago, for exampie' ID reported to be making improvements az greeating S1. .500, ,0OO Practically every blast
 
 States is receiving more or less or repairs
 srThe statistical position of iron ana steei is very strong, but the markets fespoho slowly The improvement in pig ron mas averaged about 50 cents per ton lron the lowest point touched. And 1t is still Tar below its normal level even in depressed times. Stocks which slowly increase our- ing the winter and spring have been de- clining steadily since May, until we nave reached a point of actual scarcity in cer- tain desirable grades. This situation IS likely to be emphasized from this tune on if the present demand keeps up.
 lowing to the low prices which nave prevailed so far this year there has been a steady decline in the production or pig until our 12 000,0 900 tons year rate or out put has been reduced to about H,0Oo,Voo tons. This will slowly increase in the nat ural order but we shall not get back to 12, ,000 00p tons unless the markets very con siderably improve. There is every reason, however, to look for continual improve ment in demand, with bettering of prices as fall work comes on. The demand has started fully a month earlier than usual making August one of the heaviest months of sales on record.
 "The export of American pig iron was for a time pretty well destroyed by the con- fusion in shipping caused by the war. At the same time demand was rather slack on the other side Now freight room is cheaper and more abundant and demand in Great Britain and on the continent Is better. The result is active export movement. The business of our house for a month past has exceeded 800 tons day, and it is safe to say the aggregate move ment exceeds 1000 tons day. This while a small percentage of our total production of pig is, nevertheless, an important out let for certain grades made in Alabama, which otherwise might press upon our home markets. Export sales have been checked some since the advance of 50 cents in Alabama irons. Foreign markets, however, are slowly moving up, and there is good reason to believe that exports will grow in considerable volume.
 "In addition to this class of export busi- ness, there is going from Pennsylvania and other northern centers large quantities of steel rails, bilets, heavy machinery, light machinery and iron and steel in numberless forms of manufacture. American agricul- tural implements, for example, seem to be in almost unlimited demand abroad. Mak- CTS in Chicago can lay their products down in Central Europe and in the center of Great Britain at a lower price than foreign makers say they can manufacture for. And no one disputes the claim of the American goods to superior quality. It looks. therefore, as though this market would be a steadily growing one.
 "The new consolidation of steel and ore interests has no effect on the markets. It Is a legitimate consequence of modern in dustrial conditions Large interests grow larger by absorption of rivals and expan- sion from the great advantage which large capital and organization give. Small inter- ests dwindle as the large ones grow. It would be a good thing both for manufac- turers and consumers if there were more centralization of interests in strong hands,"
 REID ON TERRITORIAL EXPANSION GafafauaIas, pfiIr,r rauina