Published: January 23, 1898
MANY IRON FURNACES IDLE.
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Unable to Compete with the Improved Plants and Consequent Increased Cost of Production.
READING, Penn., Jan. 20, There are a large number of iron furnaces out of blast along the East Penn Railroad, from Reading to Allentown, and in speaking of the idleness of these industries, Leonard Peckttt, Superintendent of the Crane Iron Company's furnaces, at Catasauqua, Penn., and formerly chemist for the Reading Iron Company, in this city, gave some facts and figures which explain the reasons.
Mr. Peckitt said: ŅIn 1890 there were 344 furnaces in blast in this country, and the production of pig iron amounted to 9,202,703 tons. This production gradually decreased, until in 1894, there were only 137 furnaces in operation, with an output of 7,124,503 tons. After that year there was a gradual increase in the production of pig Iron, but the increase In the number of furnaces in blast was not in proportion to the output. Only those furnaces, equipped with the latest improvements, capable of large production, with a minimum of expense, were able to hold their own in the market.
"Furnaces which a decade ago ranked among the best could no longer compete with the magnificently equipped plants, and their fires were allowed to die out, not to be rekindled since. This explains why, not withstanding a greater increase In output in the United States and a much greater demand for pig iron, every blast furnace from Reading to Allentown, excepting one at Alburtis, is idle, and all those in operation in the Lehigh Valley can be counted on one's fingers.
"In 1897, with only 159 furnaces in blast, less than half of those in blast in 1890, the production of pig iron amounted to 9,635,476 tons, or nearly 500,000 tons more than in 1890. At the present rate of production the tonnage for 1898 will be over 12,000,000 tons, which will beat the world's record in the output of pig Iron.
"In the first half of 1897 the production was 4,403,469 tons, and in the second halt it was 5,233,000 tons. The consumption has kept pace with the production, and there is very little surplus stock on hand, but the price has fallen about $5 a ton since 1890, and last year alone the reduction was about1 per ton."
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