The total productions noted above are for all producers. The production by steel companies shows how quickly the trust corporations close furnaces when they have over $90,000,000 in the bank subject to check. If the tariff on pig iron was removed, they would have kept their workingmen employed similar to Merchant furnace. You will also see how close our furnace men kept to Scotch prices plus $4 tariff and $2 freight. We have also given you the Scotch prices from 1896 down to 1908. To make a parallel you will have to add for freight from Cincinnati price to equal New York price, $2 per ton; you will also have to add freight to Scotch prices to be f. o. b. New York, $2 per ton. You will notice the price of pig iron advanced from $13 per ton in May, 1901, to $25.65 in June, 1902, without any apparent change in cost of production. Prices receded again in November, 1903, to $12, and remained at nearly this price until it commenced to advance again in October, 1904, advancing in October, 1906, to $20; in December, 1906, to $25; in January, February, and March, 1907, to $26; in August, 1907, receded to $23; in December, 1907, receded to $17. The total productions noted above are for all producers. The above figures show that furnace men will get not only Scotch prices, $4 for tariff, $2 for freight, but from $2 to $4 besides. There is no way to prevent it except by the reduction of the tariff and give them an open competition with Europe. The following tables are prices of No. 2 coke foundry pig iron at Cincinnati, Ohio, steel beams at Philadelphia, and wire nails at Pittsburg, for the following years, 1897, the last fiscal year under the Wilson bill, and 1898, the first calendar year under the Dingley law, and also the prices for the years 1899 and 1900. The two latter years show the great advance and recession in prices of foundry iron, steel beams, and wire nails, also pig iron. Table showing the production of pig iron in United States, gross tons, from 1890 down to and including 1901; also the total capacity per week for the yours 1900 and 1901. Lake ore shipments, returns from Lake Superior docks, show the following: The above figures show production of pig iron by steel companies during the years 1906, 1907, and 1908, showing just the reduction in this year's business, which has been reduced to the lowest possible minimum in dull times. I call special attention to prices of Lake Superior ore during depression of 1904; also 1908: Average ore prices during 1904 depression.. Showing an advance per ton of--- $2.80 4.00 1.80 Comment is unnecessary. If the steel companies are permitted to continue under the present tariff, soon they will own or control absolutely the whole output and furnace. The tariff on iron ore certainly should be removed; after corporations have exhausted their mines and made fortunes out of them they will want the tariff increased. |