And Parkerizing is the formation of basic iron phosphate on a surface to protect it from rusting. Not very "New", but loading the iron with phosphorous and leaving it in the rain is a tedious way to do it. Plus, as you say, the physical properties of the iron would be horrible.
Thanx for the info.Phosphorus is the key.I've heard of this pillar before,and the non-corrosive properties were mentioned but no explanation as to why.Mystery solved.