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Tredegar Iron Works
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| Richmond, Apl 24, 1863 |
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| O. M. Avery, Esq. |
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| Dear Sir, |
| In reply to your enquiry as to the value
of Rail Road iron in May 1862 we state that at that date we were
neither purchasing or selling the article, consequently can give no
reliable opinion of its value except by comparison with other
descriptions of iron. From the 1st May 1862 till 1st October of that
year, we charged the Government 7 1/2 cents per pound for bar iron.
The usual difference between that description & Rail Road Iron is
times of peace was as about 5 to 7. Upon this basis the price of Rails
for a corresponding period would be $120 per ton of 2240 pounds. But
as our prices were much below market rates, the price stated is
doubtless much less than Rail Road iron would command at the time
indicated, & we think from $125 to $150 should not be regarded as
excessive. |
| Very respectfully |
| J. R. Anderson & Co |
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