The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1877-10-06
Pittsburgh Iron Market.

There is considerable activity in all
branches of the iron business, and we
might say that trade was IN a healthy
condition we're it not for the fact that III
many cases selling prices have been
forced down to the lowest cost OF pro-
ductlon, and leave no margin for profit.
There is consequently great complaint
among some OF our best manufacturers,
who are making their usual excellent
grades of iron, but are forced
to meet in competition both those
who chesped cost by using inferior
raw material and putting inferior work
on it, and those whose financial necessi-
ties cause them sometimes to be obliged
to sell at loss How long this state OF
affairs will continue it is impossible to
say, but the general favorable outlook
throughout the country indicates that It's
continuance will probably be short, and
consumers will soon be enabled to pay
fair prices for fair article. We are
glad to note that although such COM
plants rs we have have mentioned are
heard on all sides about the present con-
ditlon of business, there is yet general
feeling of hopefulness for the near future.
Pig IRoH-The mills are still pursu-
ing the hand to mouth policy in buying
pig, but there is n fair degree OF activity,
numerous sales being made OF small lois
Prices are generally unsettled. Regular
customers buying iavorite brands pay
asking prices, and these brands are con.
sequently be d firm, tui there has re-
Gently been u large influx into this mar
ket of irons which have to seek pur-
chaser, and the price of these has there
fore fallen. This is especially true OF
anthracite iron, which has declined al
least dollar ton within the past two
weeks. The activity of the mills, and
the fact that prices OF pig are generally
believed even by buyers TO have reached
bottom, renders 1t improbable that there
will be any further decline.
MANUFACTURER IRoN-There is a
brisk inquiry for cheap iron, which is
provocative of terrible complaint from
manufacturers who are holding firm and
refusing to make anything but Il good
quality. Many of our mills are making
iron Of quality whose exec lence Is not
surpassed IN the world, but consumers
are apt to pass it by for iron which brings
few tenths of a cent less price, although
not half as good an article. "Men have
the impudence to offer Sl.60 for
iron like this," said one of our
manufacturers the other day. "Ill quit
the business before I'll take it." We
quote 81. 80 to $500 for first class refined
iron, and for this quality 1t seems pretty
certain that the price will not go lower.
We are informed that some old customers
of makers Of iron OF standard quality,
who had burnt their fingers b. buying
cheaper iron elsewhere, have returned
and are paying the regular price. This
is favorable sign, but we are afraid
that such occurrences sre not common.
STEEL-Our mills are all busy, and
there is a brisk and increasing demand.
There is still great complaint among
makers of unremunerative prices, and
some makers are meeting the prevailing
mania of consumers for cheapness by
giving them low grades of steel at their
own price, but without guaranteeing the
quality. Some very cheapsteels are now
made by rolling down Bessemer blooms.
This product is entirely sstlsfsc-
tory for many uses, and
may sdvantsgeously be substituted
for wrought iron for structural purposes
n which strength and lightness are re-
Quired, but it cannot take the place OF
the higher priced grades of crucibIe
steel. The amount of Bessemer steel
that is used this year for other purposes
than rails, it is estimated will be double
or treble the amount that WAS used last
year, ana there is no doubt that the pro
duction of various shapes from this metal
will soon become very important branch
of industry.
NAILL-There is q Temporary lull in
the market, as none OF our makers care
to sell at the present depressed rates.
They seem to have agreed that sll nails
sold at less than 1924 are sold at a loss,
and while they will sometimes sometimes
sell to their regular customers at price
low enough to keep their trade, they will
Mt book orders at low prices ior future
delivery, nor sell less than 1926 to new