Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1899-03-09
THE BOOM IN IRON and STEEL
The Ohio Valley Mills Fairly SVamped
With Orders.
THE MONTHLY PRO-
DUCTION OF PIG IRON is ONE
MILLION TONS-STEEL RAILS
SOLD UP FOR SEVERAL MONTHS
TO COME-A GENERAL AD-
VANCE IN PRICES.

VANCE IN PRICES.
(New York mmercial-Bulletin, Pitts
burg Correspondence
No better evidence is needed to show
the wonderful prosperity that has come
to the iron and steel trade all over the
country than the daily announcements
of voluntary advances in wages by the
leading manufacturers everywhere. Not
since the memorable boom in the iron
trade in 1879-80 has there been such
unparalleled activity as prevails at the
present time. The present prosperity
in the iron trade had its inception early
last year, when a good healthy demand
for nearly all kinds Of iron and steel
products started, and which was suffi-
cient to give the leading mills fairly
steady employment right through the
year. This improvement in the home
demand, together with an extraordinary
large export business built up by our
leading concerns in short time, and
which has steadily been increasing, has
simply swamped the mills with bust
ness until it is no longer a question of
prices, but where to find producer who
has anything to sell for reasonably
early delivery. The foundation of the
iron trade is pig iron, and we may state
that at the opening of this year Besse-
mer pig iron, which is the leading brand
produced, was selling at $1,000 to $10.75
in tons of 2,240 pounds, Pittsburg. The
Bessemer Furnace Association, consist
ing of the owners Of the blast furnaces
in the Mahoning Valley in Eastern
Ohio and Shenango Valley in Western
Pennsylvania, have kept steadily ad
vancing prices until to-day the mini
mum prices of Bessemer pig iron de-
livered in Pittsburg is $3.50, and a
buyer who wanted any considerable
quantity would probably have to pay
$1400. Parties owning speculative lots
of Bessemer pig of 5000 tons and over,
have set their price at $500, Pittsburg,
and refuse to entertain any offers at
lower figures. In spite of this unparal-
leled advance in prices, there is an
actual scarcity of pig, and furnaces in
different locations Of the country that
have been idle for years, and with little
prospect of ever resuming again, are
repairing and getting ready to start up.
Prices have reached that point where
they can make iron and market it at
profit In the Pittsburg district, in
which is made about $4,000 tons Of pig
iron per week, every furnace is blowing
that can be operated, and a good deal
of iron is coming in to this city from
other sections.
At the present time we are making
in the United States over 100000 tons
of pig iron month, and in spite OF this
tremendous production, the largest on
record, stocks of pig have been steadily
decreasing every month, and as stated
above, an actual shortage has devel-
oped.
Mill or forge iron, from which iron
bars are made. has steadily advanced
from about $780, Pittsburg, to close to
$500, sales having been made recently
at $1265, deliveries running over last
half of the year. No. foundry iron,
which is most generally used by foun
dries, has advanced fully three dollars
a ton, and some of the leading consum
ers have'recently come into the market
and bought at ruling prices for delivery
over balance of the year. The year 1899
promises to be one of the most profit
able years for the pig iron producer we
have ever had. and it will also be a
record breaker in the matter of produc
ton.
BkSSEMER STEEL.