Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1900-01-15


Average per year. s3-l7 SIS $50 H.a
1t should be noticed that these are
the base prices of wire nails in car
load lots. Because Of extras" due to
sizes the average price per key is fully
go cents more than those quoted
above. OF course the prices OF. small
lots are still higher and the retail prices
especially in remote districts, very
much higher than for carload lots.
The base price is fixed at Pittsburg
and freights are added to all points of
delivery. The Pittsburg price Is now
SO cents lower than Chicago and New
York prices, which are 5 cents below
st. Louis prices. Wdre nails have al
most entirely replaced cut nails, which
now sell for about 70 cents per keg
less than wire nails.
The duty on wire nails from 1890 to
1894 was from 2 to 4 cents per pound;
from 1894 to 1897. rs per cent; since
1897 from " to 1 cent per pound.
The duty on barb wire from 1890 to
1894 was 6-1O of a cent per pound;
since 1894 4-10 of a cent per pound.
The duties on other products of this
trust are generally higher than those
on wire nails.
Trust Profits.
In April one of the directors esti-
mated the yearly net earnings at $12,-
600, 900. The statement of the earnings
to June 80, 1899, showed a net profit
of s. 1882, 900, for the first six months.
Judging from the prices of wire and
wire nails the profits for the second
six months should be at least $8,000,-
0o0-the increase in prices being nearly
all profit, because the trust owns its
own mines and furnaces and the actual
cost of making iron, steel and wire is
| not much greater than when prices
were less than half present prices.
While it is unlikely that the present
excessive profits will continue for many
months it is difficult to see how the
profits from July. 1899. to July, 1900,
can fall below $4,000, 900.
Trust Theories.
1t may be noted that when this trust
was first formed we heard a great deal
from the trust theorists about the eco
nomic advantages and savings Of great
combinations. Thus, Mr.. Garrit H.
Ton Brook, of St. Louis, as counsel for
the company announced that "the on
ly effect on the market that | can see
will be a possible slight lowering of
prices, because Of this economy, and
also a stea6lness of prices for the fu-
ture." There are still numerous pro-
trust theorists prating about the bless
ings Of trusts as if nearly all Of the
trusts had not, in practice, actually
demonstrated that they are, under
present conditions, all around curses.
The blessings, SO far, are enjoyed only
by those who got into the trusts on the
ground floor"
If the wire trust lowers prices it will
do so only because Of the removal or
threatened removed of tariff duties or
because prices are too high to yield
maximum profits. The Iron Age of
November 80, 1899, contains six col
umns of interviews with hardware men
in 25 States on 'the effect of high
prices on the demand for goods" Many
dealers say that they expect to sell rs
or 80 per cent less goods in 1900 be-
cause of advanced prices. Many farm
ers are refusing to build fences with
wire at high prices. A Maryland farm
er said: THE price of wire is prohib-
tive. / shall go home and put the
hands to work and make rail fences"
The farmers are deferring the building
Of houses because of the increased
prices of lumber, nails, glass, etc.
They are buying nails by the pound
instead of by the key.
Very Low Export Prices.
Mr.. Gates neglected to tell the In
dustrial Commission how much export
prices were below home market prices.
1t will make these farmers feel hap
py to know that this same trust which
charges them at a "basis" of 1888 per
keg for nails (about $3.50 at retaiD
exports these nails and sells them to
Europeans at s2.14 "Basas" per key
and that it exported about 10000, 900
pounds in 1899 to all parts of the earth.
The exports for the fiscal years 1893
to 1899 of wire nails were as follows:
Fiscal Year. Wire Nails. Wire.
Pounds. Pounds
1909 23o0.5H ~. TaS, 043
1894 ,..... .,,,.... 3. 233, 776 "A, rs, 26S
1Sa5 '.'.'... .....,. 426T. 267 6l.093. III
iSsS '. .......... S.S3l,927 70.92S. 766
1897 ........, ,.,,,. 9,941.1 IA 167, 729, los
*1saa ''..... .....,... q, S94. 099 137.054,155
1854 .,....... ..........5 81, 233 ~ 215, 194,4H
. y y.-5. ~ os1c md taakS 1-HdNt F11t