The total imports of pig iron, including Spiegel-Eisen, into the United States in 1889 and the four preceding years was:

Gross tons,....

......

1885. 146,740

1886. 1887. 361,768 467,522

1888. 1889. 196,892 142,230

The decline in 1889 was in Bessemer pig and Spiegel-Eisen chiefly. The production of pig iron in the United States in 1889 and the four preceding years was:

The quantity of pig iron at the furnaces, unsold, in the whole country, at the end of 1889, is estimated at 247,679 gross tons, being 52,465 tons less than at the close of 1888. The unsold stock at the end of 1889 and of the four preceding years was:

The production of pig iron in the States from which this and the neighboring markets chiefly draw their supplies was, in 1889 and the previous four years, as follows:

Lehigh District of Pa.,..

Ohio,...

264,796

154,066

2,183,479 2,940,435 3,289,837 3,204,630 3,733,252 423,181 594,590 645,481 499,066 515,230 494,609 810,798 871,017 985,552 1,085,332

The unsold stocks of pig iron in the States above named at the close of 1889 and the previous four years were as follows:

IMPORTS OF IRON AND STEEL INTO THE UNITED STATES DURING THE CALENDAR YEARS 1887, 1888 AND 1889.

IMPORTS OF IRON AND STEEL INTO THE PORT OF NEW-YORK DURING THE

CALENDAR YEARS 1887, 1888 AND 1889.

The above tables show a decrease in quantity from 1888 of 170,741 tons, (18.56 per cent.,) and a decrease in value of $1,346,785 (3.90 per cent.) in the imports into the whole country, and a decrease in quantity of 18,729 tons, (4.70 per cent.,) and an increase in value of $522,489 (3.59 per cent.) in the imports into the Port of New-York.

FURNACES.

The following figures show the condition of the furnaces in the whole country at the close of 1889 and the preceding four years:

The following figures show the condition of the furnaces in certain States at the close of 1889 and the preceding four years :

The production of pig iron in certain States in 1889, and the preceding four years, bore the proportion to the product of the whole country as expressed by the following per centages:

The total unsold stocks at the close of 1889, and the preceding four years, bore the proportion to the total production as expressed by the following per centages:

Per Cent.,.

1885. 1836. 1887. 1888. 1889. 9.19 3.93 4.70 4.78 3.25

The consumption of pig iron in the United States for the year 1889 and the preceding four years was:

The following table shows the highest and lowest prices at tide water in 1889 and the preceding four years:

The system of dealing in pig iron warrants was put in operation in the latter part of September, and adopted by the New-York Stock Exchange, and on October 1st by the New-York Metal Exchange. No. 2 Foundry pig iron being the basis of price, No. 1

G

being deliverable at 50 cents above the price of No. 2, No. 3, 50 cents below, and Gray Forge $1 below No. 2. The first sale at the Metal Exchange was made on October 8th at $163 for No. 2, January delivery. This was the lowest price in 1889. In November the price had advanced to $19.50, but declined in December, the last sale being at $18.50. At the close of the year 35,400 tons had been put in the warrant yards, and 300 tons withdrawn, leaving 35,100 in yard. Warrant yards opened at several Southern furnaces, and at Catasauqua, Pa., and Perth Amboy, N. J.

Scotch Pig.-The market was a quiet one at the beginning of the year, quotations being $20.50 to $21 for Coltness, $20.50 for Summerlee, $19.75 to $20 for Glengarnock, and $19.50 for Dalmellington. By the middle of April prices had advanced to $21.50 to $22 for Coltness, $21.50 for Summerlee, $19.50 for Dalmellington. Early in August, owing to higher prices abroad and higher ocean freights, quotations here were advanced somewhat, though still below the parity of foreign. The prices asked were $22 to $22.50 for Coltness and Summerlee and $20 for Dalmellington. In the first half of September Coltness sold in small quantities at $23, and other quotations were $22.50 for Summerlee and $20.75 for Dalmellington. A further rise occurred soon after, and by the close of September there were sales of Coltness and Summerlee at $23.50, Dalmellington being quoted at $21 to $21.50. A month later prices had risen to $25.50 for Coltness, $25 for Summerlee and $23 for Dalmellington. Foreign values continued to advance rapidly, and prices here came up in sympathy, though not to the duty paid equivalent of the foreign. By the last of November Coltness sold at $26 and Summerlee at $27. Glengarnock at this time was quoted at $28, which was prohibitory. None of this iron was sold after February, in which month $21.50 was paid.

The importations of Scotch pig iron at New-York in 1889 and the preceding four years were:

Bessemer Fig opened dull, with foreign prices $19.75 to $20.50 ex ship at New-York, and American $17 to $18 at furnace. In February prices of foreign were higher at $20 to $20.50, and a sale of 1,000 tons of a superior quality was made at $20 to $20.25. Throughout the first half of the year there was very little business, and prices varied only slightly, but in the latter part of July and early August a change occurred, and prices were firm and advancing. Foreign was held at $21 to $22, but American was dull in the Eastern markets at $17 at furnace. At this time the Pittsburgh market was very active, quotations being $17.50 to $17.75, an advance from $16. In October foreign prices were equal to $23.50 to $25, according to quality. Eastern furnaces would sell at this time. at $18, and the Pittsburgh market was excited and firm at $20. In November foreign cost $25 to $27 and American $19 to $20. By

December 15th American was quoted at $22 to $22.50 at Eastern furnaces for ordinary rail quality, and as high as $25 for best grades. The quantity of foreign imported was extremely small, owing to the great demand and consequent high figures abroad. American was in good supply and very cheap, at least in the first half of the year. The production in the whole country was, in 1889, 3,151,325 gross tons; in 1888, 2,641,836 tons, and in 1887, 2,858,976 tons. Of the product of 1889 New-York made 68,703 tons; New-Jersey, 21,432; Pennsylvania, 1,979,428.

Spiegel-Eisen.-For 20 per cent. the opening quotations were $27.75 to $28.50, according to make. By February prices had risen to $28.50 to $29. For 30 per cent. importers were asking $33.50 to $34.50. About the middle of March 28 to $28.50 was the quoted price of 20 per cent., and sales of 1,500 tons were made at $28. In the latter part of April 1,000 tons American 20 per cent. sold at $27.75 at furnace. In May there was a slight weakness, and sales of foreign were made at $27.50. In July prices had hardened, and by August 1st they were firm at $29 to $29.50 for 20 per cent., and $34.50 to $35 for 30 per cent. The great demand abroad forced up prices rapidly, so that by September 15th 20 per cent. sold at $31. Early in October 2,000 tons 10 to 12 per cent. American sold at $27 at furnace, foreign being quoted at $28 to $29. Foreign 20 per cent. at this time was held at $32 to $33, with large sales at about the lower figure. In the third week in October 5,000 or more tons foreign 20 per cent. sold at $32.50 to $33.25. At the end of November 1,000 tons sold at $34. Prices rose rapidly after this, and $38 was obtained for several lots. The production in this country of Spiegel-Eisen (including Ferro-manganese) in 1889 was 77,514 gross tons, and in 1888, 48,901 tons.

Ferro-Manganese was quiet at $54 for 80 per cent. at the beginning of the year. During January sales were made of 100 tons at $53.50, 50 tons at $53.75, and 100 tons at $53. In Early February $54.50 to $55 was paid, and prices advanced before the month was out to $56.50, at which sales were made. Foreign prices were continuously higher and reached $60 in early June. By September sales were made at $69.50 and $70. In October a further rise had occurred to $76, then to $77.50 for shipment, at which 1,200 tons were sold. At this time small spot lots were worth $85. Towards the end of October considerable quantities were sold at $82.50, $84.50, $86.50 and $88, for shipment. About the middle of November there were sales at $92.50 for shipment. Before the close of December sales had been made at $96 for shipment, and in a few instances as much as $105 was paid for small lots on the spot. The rise in price during the year was about 100 per cent., and was brought about by the large foreign demand, speculation, and at scarcity of good ores. The importation at New-York was 4,800

tons, gross.

Steel Rails.-Early January quotations were $27.50 to $28, with