Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1880-07-19
TuEIiiON ~ UrLOOK.
Views of the Pittsburgh Iron
Age ON the Situation and Pros
npefa-

The Nery greatly improved outlook
for iron IN the T. ~ sIucr last week ~ 81
fully nntr,i lu our trade pages, that Il ~
ssar,rly necessary To- liSru>s the suhJeC'
eslItoriailv. As hearing upon the qncs-
tion ui ~ tbIiity oi thus Improvement. u
il gratifying Ia nSte thnt the movement
AN hapta mugs IN the iron trade at
p,ttshnrsh AMI ia the West during the
p,st fortnight have been ut more than
usual importance, and, ~ lndi-
cUiOns oi the prrsrut cnndltlnn
aLd future pr, spects Ot thus
tr,dr, are ui the utmost moment. These
m,yrmcnts indicat" the prevalence at
belief thlt the bottom in p,lccs has
h..n reached, and, Rs "A consequence,
buyers and spcculators who have been
w.iIlny for this state ot aiturS To- he
reached have hrgun In buy ~ long IA
these parties were in doubt a. tu the
curse ni prices u was Imp"Ss blr IL get
th-m To buy iron, aud every attempt tn
iorrr SALTS, or even a mudrrdic einrt to
SILL. ~as r,rar,lr,l - another eV,irnc,
oi weakness, aud INA lc the consumer
still ltss ANXIOUS IL buy. Daring the
pt.t two weeks this has changed, and
So ne very heavy sales have neen made
For the week ending July 2, the Pttts
blryh brokers rrpbrt-d sales at upsari
OF 5000 tons, and u - stated that s1les
m,ir and not reported will make AN AZ
yr,,,,,. nf 2OUOO tons soli ia week,
THIS ~ the larc ~ avgrryate ever report
el in the history oi Pittsburgh ior a sin'
liar prTilI, With one exception. pi the
l6DOO tons reported sul.i, 10 OOO are coke
or biIumiunuS iron and q OO anthracite.
Another feature ui the sales Is that the
irnn aas nearly all Jorge iron, az iron
Tor mill use, only SIS tons being i0un-
dry. 10 il stated that this movement Is
largely speculative, and that mu IA al
the iron which lately changed hands VIII
be held inr higher prtcrs, bnt AT the same
um. SOM. mills are anticipating iuturc
wants. the report ui the condition al
furnaces, given IN our last issue. was
quite favorable tn tuTnaCrmen IN shos-
inx llryer proportion out ui blast than
hal been believed to be ia thus comb
ton Ii Oi course goes without saving
that iurnaCemen, IN view Ot this sudden
increase IN demand, are tirm IN their
views.
La merchsnt irCr the market has not
a. vet shown any very heavy sales, but
the best makers AT FIttsburgh are very
much iirmer than tnsy were n month
ago. They would find no trouble IN hil-
iny their books With orders at the rates
ruling on the lst Of June. Large buyers
have, within verv short time, visited
Pittsburgh and endeavo Ell to place or,
ders nj these rates. aud have found
Themselves unable To do 81. The best
informed manufacturers expect the
heaviest fall trade ever known.
Just AT this time We cannot write very
definitely about the future Ot nails. We
are reliably informed that an inspection
OF the stocks AZ all points IN the West
shoxs them To be comparatively light.
The several stOppages ot the nail mills
have reduced production ,5OoOo kegs.
Buyers have been hO!dlns bacS orders,
expecting To see lower prices, aud are
still doing 50, and will continue 10 do
so unless they are brought To believe
tha. the manufacturers viii sustain the
present rates, which it is well known
\ sons Of them have not done. We are
: informed upon good authority that some
of the parties who have been iucllnsi
u 70 oelox the market have ioste
them selves with cheap orders = n on
case enough to run a works Tor q rce or
four months-and are nov r,fusinI
orders.