The times. [volume] (Richmond, Va.) 1890-1903, 1898-11-04
THE IRON TRADE.
In a Decidedly Healthy state, Viewed
from the Birmingham Standpoint.

BALTIMORE, MD, November 3.-Spe-
cial.-Iron. which is TO share with cot
ton the task Of creating a larger indus
trial life in the South. is in deciiely
healthy state. viewed from the Birming-
ham standpoint. An official OF the Ten
nessee Coal. Iron and Railroad Company
Is quoted 10 the effect that since his
connection with the company he has
never known the stock of iron IN ITS
wards TO be 50 light. and he expects that
by January it will be practically cleaned
IN The same condition exists IN other
interests and the general opinion Is IN
favor Of higher prices The warrant
Yards are being constantly invaded for
stock for shipment, and there has never
been a time since their Inauguration
when the drain upon them has been so
continuous and so large. The export
trade during the past week was only
moderate. but the movement outward
was good.
A reflex of the situation at Birmingham
Is presented in spondence OF the
Manufacturers Record from Mr.. WI
liam c. Dreher az Berlin Hefmany'
Writing after the middle Of last MONTH
he says:
For some time German iron and steel
workeps have been expressing grave APP
prehensions as 10 threatened compeu-
lion from the United States. Particu-
larlv the organization OF the Federal
steel COMPANY. ami the plan AT that time
published of the establishing American
iron and steel depOts In Europe caused
q furry OF excitement that cropped out
I'm numerous newspaper dlsc ussiohs vi
he subject. The extraordinarily favor
able situation OF the United States Tor
cheap production OF iron AMI steel nave
been known TO the Germans from the
first. The chief trade paper Tor the IRON
and steel Industries, 'stahl ana hlseh'
together with other puohcatohS' mas
published lengthy articles on the great
ore resources OF the Lake district anu
in Alabama. The fact as 10 the cheap
ness Of the production or pig IRON III
Alabama and in the Pittsburg district
bsve here been laid before German pro-
ducers by their own technical writer's
with painstaklD thoroughness and ac-
euracv. Hence the hopes. which had
been cherished among the-iron men mere
that Germany would soon cut the largest
figure I'm the worlds iron and steel mar
kets. or at least run England close
second I'm the race, have been rudely cut
short by the rise OF a competitor thal
is clearly destined to outstrip 0otn THESE
Ola World contestants in the struggle
for economic supremacy.
"All this has been. ! say, more or less
clear 10 well-inf0rmed German iron men
for some time. but theys were disposed
to postpone the day when this American
competition should become troublesome
to them so far into the future as posi-
bic. They were assured that the very
low prices prevailing for the past three
or four years with US were due TO the
panic OF 1893 and the subsequent eco
nomic ills under which the country su'-
fered. and that just so soon rs great
boom should again set In with ny the
domestic demands for all forms or IRON
and steel products would De SO great
that prices would again rapidly rise 10
a point which would remove American
iron as a factor in liking prices IN the
worlds markets.
well he boom has now been on Tor
NOR. than vrar. and what DO The
Germans mad? They see win amaze