New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1899-01-30
TWELVE MILLION TONS OF IRON.
WONDERFUL EXPANSION OF A GREAT IN
DUSTRY-THE UNITED STATES LEADS
ALL THE WORLD.

The estimate Of iron production In 1893 made
by this paper some weeks ago proves not 24OO
tons less tran the official statement now made
by the Iron and Steel Association. Surprising
that estimate. and all others still more. the
actual production. II 1884 tons. was at least
100000 tons greater than anybody expected
when the first half OF the year closed with an
output $50 9J3 tons greater than In any previ-
Gus half year There was then 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 con-
Stunning demand. II was true that the con-
sumption OF pig in manufacture during the
half-year reckoning a decrease Of 1lS.G42 tons
in stocks unsold, imports OF 1895 tons and ex-
ports Of 06.421 tons, had been 5,9io,S69 tons
which was larger by $50 S64 tons than in any
previous half-year. Yet the actual consumption
Of pig in manufacture appears TO have been
1O3.32O 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 to
continue after the wlr ceased But the con-
sumption in manufacture during six months
Of which five were months OF peace, was actu-
ally larger than in the first half-year, Of which
two months were spent in war and two more
in preparation for war.
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, by the kindness Of Mr. Austin. Chief Of the
Bureau Of Statistics. have been telegraphed from
Washington. Exports for the year were 253,6oS
tons. and the imports %. 137 tons-a net outgo OF
22SJ2l tons. But the decrease In the stocks
unsold was 459645 tons. and the production
hnt no domestic
ton in manufacture 12.005,05S tons for the
year, without allowance for such stocks as are
carried by the great steel companies but not
reported 20 the association. The official figures
for exports and imports during the first half or
the year with those Of the association made the
net consumption In manufacture during that
half-year as stated above, leaving 6Oo9. lS9 tons
for the last half OF the year. Thus both half-
years surpassed all others by more than WOoUo
tons and the consumption In the calendar year
exceeded that OF the fiscal year 1896 the largest
fiscal or calendar year preceding. by 1S2o.So5
tOns-nearly IL per cent.
These figures, It will be observed, show the
quantities OF pig-ron consumed in all forms or
domestic manufacture. That Is matter whlch
can be somewhat definitely determined; the
effort Of some TO find out what quantities or
iron and steel products in all forms came into
the country, went out and remained for use mere
is entirely impracticabe, because no record
shows the weights Of heavy machinery ana
other products exported or imported The
Financial Chronicle judges that the exports
were nearly 100000 tons, which seems not i'm
probable because the quantities which are re-
ported were in eleven months about 492.on tons
besides pig-iron against about $1,000 tons i'm
ported But Il Is not OF the least consequence
how much fine cutlery, weighs. or electrical ma
chnery or saws sewing machines, cycles or
typewrlters. There is scarcely any finished
product cf which half the value Is the cost or
the raw material. and the most valuable ex-
ports are apt TO be those which relatively weigh
least The quantity OF iron consumed is no
guide 10 the value of iron and steel products. ex-
cept that the ratio between material used and
the value OF all kinds OF products is compare
lively constant In successive years. Al Intervals
Of ten years the development Of the Industry TO
higher and finer work outweghs the cheapen-
ing OF production, that the ratio or all
products to materials was 20 In lSU against
% in 1850 Yet the ratio of the prices OF lead
ing products OF iron in this market at various
dates TO prices OF pig-ron has been as follows: