The times. [volume] (Richmond, Va.) 1890-1903, 1899-08-30
ARE ON THE WAY
TO PROSPERITY
The Marvellous Advance in Iron and
Steel.
THE WORLD STANDS AMAZED
By the American Den ands for Raw
Material Abroad 49, Figures Show
the Way that the Golden Gale
is Blowing.


Prosperity IS ironclad.
If any business man has any doubt Of
Il. said yesterday one Of the best known
manufacturers I'm this country, "let him
take "a trip through the manufacturing
centres Of these United States. as l have,
and he Will quickly change his mind.
The fact that 1900 tons OF steel had been
taken from Glasgow by American firms
and that Americans are seeking Tor an
that IS attainablo everywhere they can lay
their hands ON 81 abroad. has opened the
owes Of the business community every
where in the United States 20 the appar-
entity unlimited demands of hte great iron
and steel intorests-demands which show
beyond question that prosperity has come
here TO stay.
FIGURES THAT TELL THE TALE.
Iron works which supply Pittsburg are
sold up far into 1900, and can do nothing
though prices much beyond what they re-
coived are paid hy those who must have
iron this year. For Bcssemer pig 81 and
for gray force SO and for Southern pig
SIS GO were paid at PittsburE. for No.
coke 81 at Chicago. and for anthracite
No 1 S22JO al Philadelphia, with 5000
tons basic sold az S21.5J. For intermediate
products IL IS much the same. Quoted
prices hold. but advances are paid for
carly delivery
"Hoops have advanced to S24 at Chicago.
and steel rails sell at so at the East, with
1900 tons ordered Coy one road for 1900 al
SE and the output OF Plates IS being
booked far into next year Both at Pitts
burg and Chicago sheets are hard % get
this voar. The enormous demand for more
railroads. and rails ana cars more yes
sells warehouses aond buildings. 20 ham
die the extraordinary business i'm pro-
crcss. cannot De met as quickly as men
would Ike. and work Of all sorts is de-
layed from the biggest war vessel TO tho
smallest factory"
That is what r.. @. Dun & co. say on
the subject.
Moreover they add that the prosperity
of the country and tho grandeur OF the
future OF an business industries are shown
by the demands for immediate use OF
iron products Indeed. large sums. they
say. have been paid by way Of bonus 10
como ont OF unexpected pr01ts in order to
get goods ordered but not YET delivered.
The situation I'm iron and steel was very
strong last week. they say and the ave
rage Of prices is now higher and volume
of business larger. The demsnd continues
far in excess of the supply. a large Dust
ness in pig iron was done during the
partments. The business in the machin-
cry market continues large. Scarcity of
material hiuders operations ~ a great eX-
tent and is q disturbing factor The for
oien demand is growing and Inquiries ana
orders are numerous.
A ROOM ALL ROUND.
However. &c d. said bv those whose
daily operations in extcnsie business cir
cles give them % true INSIGHT into the real
causes of the movements in trade That it
As no, solely the demands from the United
States which have affected SO 'ly the
iron trade I'm this country Since the late
war the foreign demand for American
iron and steel has been 80 great that the
cannot meet their orders.
Consequently. mills that bad been shut
down are being put into shape for work
furnaces that have been idle are ar work
and are again in operation. ON all sides
everywhere. too. American machinery Is
in an enormously increased demand from
foreign countries. Iigures-those stub
born things that theories and wildcat