The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1879-09-22

show Of Weakness HOWsVeF-Pr6spee
tive sales OF Eastern Iron-NAIl Market
fIrm-OId Rails e3I per toR-The East
eFn Markets.
The Pittsburgh Manufacturer Of the 10th
reports quieter feeling up there in pil
iron. There Is not so much running
around after stocks, and the sales are fewer
than during the previous week. There Il
no change OF price however. On the con
trary, the extreme prices Of the previous
week have become the established prices.
Mill red short quotes at s?7 and sos, and
mill neutral s25 and s97, fourmonths.
"a great many furnaces east OF here
have resumed bl St, and others are pre-.
pairing to do so. This, together with the
importation Of foreign iron, will Of course
tend 10 keep prices here lower than they
otherwise would be owing to the scarcity
OF ore in the West. There will doubtless
be an unusually large amount Of Eastern
iron sold here within the next few months,
because Of the inability OF the Western
furnaces to supply the demand. Indeed
this Is onepf the features OF the market
now. The steel rail mill here Is not buy
ing Bessemer iron at present, hence it Is
impossible TO quote that quality; we heard
Of a purchase Of No. 9 during the week at
SIS, mos. This market Is entirely bare
OF No. 2 foundry and mill charcoal iron,
and We therefore omit quotations. Since
the present upward movement In iron
commenced the best brands or Western
have advanced about S. q ton, Eastern
coke about $40, and charcoal from S. to
ST." ~
There is no changein manufactured iron
and bar remains at 90. Nails are firm
and manufacturers not anxious to sell.
The steel works continue to be very busy.
Old rails are scarce and worth $Sl.,
In regard to the eastern iron market,
the New York Bulletin, Of Saturday, fur
nishes us the following adyices: "Just
what prices to quote for pig iron is now
very difficult to determine, so great Is the
variation in figures named by holders in
different quarters. Stock is very scarce,
beyond all doubt, and consumers who are
hard pushed for material are forced to pay
what would appear to be fancy" prices,
or default on contracts 10 sonie extent.
We learn Of supplies readily available in
some quarters at 20 90 for prime No. x,
Lehigh brands, and that the same might
be secured at q shade less; while hereand
there the basis OF q 00a2S 90 Is quoted,
and some business in gray forge said to
have been effected at % 90. We learned
OF several thousand tons sold for next year
delivery at prices then ruling. u.a o-"
Scotch pig has undergone no further adj
vance, though ruling very strong at the
high prices established early in the week.
Both buyers and sellers seem rather dis.
posed to wait until the market becomes q
little more settled before attempting
great deal OF business. :, .
Scrap iron somewhat quieter at the mo-
ment, with supplies on the spot concen-
trated and the latest advanced prices in.
sisted upon. We quote No. l wrought
at $50 nom yard, and cast at Sl7a21, as to
grade and quantity. l1faa.
RArLs.-Makers are indisposed to close
contracts for any considerable amount OF
either iron or steele, owing to the very
unsettled condition OF the market for ma.
Terrell. Prices are wholly nominal in con-
sequence, with $40 for steel and Si4a45 for
iron at mills, the lowest named in any
quarter. We note sales Of 1000 tons OF
steel for next years delivery on private
terms; a small lot OF iron at S44 at tide
water, and some small parcels OF English
iron on private terms. -
Old rails have sold at an advance TO
500 90, prompt delivery at Philadelphia,
and little, II anything, can now be had on
the spot for less, though S2S 90 would
probably buy, lots to arrive. About 49,
900 tons reported TO have changed hands
during the current week. ,.57
Manufactured Iron.-With some dealers
there b disposition to work prices up
still higher, and latest accounts from the
mills were such as 10 make it possible for
this TO take place in natural way, while
demand is greatly in It's favor. We learn
OF S.Sc having been refused for angles al
Pittsburgh mills, and also Of reiusals oil
business in other lines at corespondingly
high prices owing to the crowded condi.
ton Of the mills. Quotations remain as
revised early in the week, with but little
stock to be had at the same. !.
By Telegraph to the InlsllIgencer. ......
NEW YoRK, September 2o.-Manufactured
copper-Demand fair and market Arm; new
sheathing So 90; ingot lake SIC 81 IIal7 90
Pig Iron-ScArce and firm; Scotch SO 0Oa
q 90; American $24 50a29 90; Russia sheet
ing $l20 0al260. Eails-Cat 1925; clinch 81 X
ass. -L