The evening times., 1899-01-30
AMERICA LEADS In
iron PRODUCTION
Marvellous Expansion of the
Great Industry.
Twelve Million Tons Produced in the
Last Year.
Share of Various Nations In the To-
tuI Output of the
World.

New York. Jan. 30-An estimate of iron
production in 1898 made some weeks ago
proves not "a 600 tons less than the OFF,
cial statement now made by the Iron and
Steel Association. Surprising that csti-
mate, and all others still more, the actual
production, II, ,77S,934 tons, was at least
500 900 tons greater than anybody expect
ed when the first half OF the year closed
with an output $780, ,953 tons greater than in
any previous half year. There was then
a very natural apprehension shared by
many in the business that the pace had
been rather too fast TO last, and would
not be sustained by the future consuming
demand 1t was true that the consumption
of pig in manufacture during the half year,
reckoning a decrease of llS,642 tons in
stocks unsold. imports of 13,9io tons and
exports of sc, 421 tons, had been 5,9i5, ,o69
tons, which was larger by 569,S64 tons
than in any previous half year Yet the
actual consumption of pig in manufacture
appears to have been 103, ,320 tons greater
in the second half of this remarkable year.
1t was reckoned that the war had created
an unusual demand for iron and steel
products which could not be expected 10
continue after the war ceased. But the
consumption in manufacture during six
months, of which five were months of
peace was actually larger than in the first
half year. of which two months were spent
in war and two more in preparation for
war
Net OutgO of the Mineral.
The figures are here given for the first
time exactly, because the official reports
of imports and exports OF iron have not
been published, but are shown in advices
received by Mr.. Austin, Chief of the Bu-
reau Of Statistics at Washington. Exports
for the year were 253,6 ,65S tons, and the
imports p, 131 tOns-a net outgo of 22S,-
52l tons. But the decrease in the stocks
unsold was 459,6i5 tons, and the production
11.I73 934 tons, SO that the domestic con-
sumption in manufacture was 2,005, ,05S
tons for the year without allowance for
such stocks as are carried by the great
steel companies but not reported to the
association. The official figures for eX-
ports and imports during the first half of
the year with those of the association
made the net consumption in manufacture
during that half-year as stated above,
leaving 6,059. 1S9 tons for the last half of
the year. Thus both half-years surpassed
all others by more than 5000 900 tons. and
the consumption in the calendar year ex-
ceeded that CT the fiscal year 1896 the
largest fiscal or calendar year preceding.
by lS25,s35 tons-nearly IS per cent.
Pig-iron in Domestic Use.
These figures. it will be observed. show
the quantities of pig iron consumed in all
forms of domestic manufacture. That is a
matter which can be somewhat definitely
determined; the effort of some TO find out
what quantities of iron and steel product.
| in all forms came into the country. went
out, and remained for use here is entirely
impracticable. because no record shows the
weights of heavy machinery and other
products exported or imported. The Fl
nancial Chronicle judges that the exports
! were nearly 100000 tons, which seems not
improbable, because the quantities which
are reported were i'll eleven months about
1872, 600 tons, besides pig iron. against about
81. 600 tons imported. But il is not OF the
least consequence how much fine cutlery
weighs. or electrical machinery, or saws,
sewing machines, cycles. or typewriterS.
| There is scarcely any finished product OF
which half the value is the cost of the raw
material, and the most valuable exports are
apt TO be those which relatively weigh
least. The quantity of iron consumed is
no guide to the value of iron and steel
products. except that the ratio between
material used and the value of all kinds
OF products is comparatively constant in
successive years. AT intervals of ten years
| the development of the industry TO higher
and finer work outweighs the cheapening
| OF production, so that the ratio of all prod
ucts TO materials was % in 1890, against
% in 1880. Yet the ratio of the prices OF
leading products of iron in this market al
various dates 10 prices of pig iron has been
as follows: