The Columbian. [volume] (Bloomsburg, Pa.) 1866-1910, 1880-07-30

THE pEICE or IRON GOING Ur.

At Cincinnati ON the 10th inst, sales |
were made Of the hanging rock charcoal
iron at $50 per ton, which is 50 ton
higher than the same iron sold for
month previous.
The Iron 1ge says: The very great
ly improved outlook for iron in the East
since last week is so fully noted in our
trade pages, that il is scarcely necessary
to discuss the subject editorially. AS
bearing upon the question OF the stabili-
ty of this Improvement, it is gratifying
to note that the movements and happen
ings in the iron trade mt Pittsburg and
in the West during the past fortnight
have been OF more than usual import
ance, and, as indications of the present
condition and future prospects of this
trade, are of the utmost moment These
movements Indicate the prevalence of a
belief that the bottom of prices has been
reached, and as a consequence, buyers
and spectators who have been waiting
for this state of affairs to be reached
have begun to buy. SO long as these
parties were in doubt as to the course of
prices it was impossible to get them to
| buy iron, and every attempt TO force sales
or even moderate effort to sell. was re
| gardcd as another evidence of weakness,
and made the consumer still less anxious
to buy. During the past two weeks this
has changed and some very heavy sales
have been made.
For the week ending July 9th, the
Pittsburg brokers reported sales of up
ward of 10000 tons, and it is stated that
sales made and not reported will make
an aggregate of 10000 tons sold i'll a
week. This is the largest aggregate in
the history of Pittsburg for n similar pc
riod with one exception. OF the 10000
tons reported sold 10000 are coke or bi
luminous IRON, G,000 anthracite. Anuth
er feature OF the sale is that the iron was
nearly all forge iron, or iron for mil
uses, only $40 tons being foundry. Il
is stated that this movement is largely
speculative and that much of the iror
which lately changed hands will be hclt
for higher prices, but at the same tim,
some mills are anticipating future wants
The report of the condition of furnace
men given in in our last issue, was quit,
favorable to furnacemen in showing
larger proportion out of blast than ha,
been believed to be in this condition. i
of course goes without saying that fur
nacemen, in view of this sudden increas
in demand, are firm in their views,
In merchant iron the market has no
as yet shown any very heavy sales, bu
the best makes at Pittsburg are yer,
much tinmer than they were Il mont
ago. They would find no trouble in ill
ing their books with orders at the rate
|, ruling on the lst of June, Large buyer
have within very short time visite
Pittsburg and endeavored to place o.
ders at these rates, and have found then
; selves unable to do so. The best infoln
! ed manufacturers expect the heayic'
falftrade ever known.
just at this time we cannot write ver
definitely about the future of nail
We are reliably informed that an inspe
ton of stocks at all points in the We
i shows them to be comparatively ligh
e The several stoppages Of the nail mi
have reduced production some 10000
d kegs, Buyers have been holding baC
? orders, expecting to- see lower prices an
. . are still doing so, and viii continue to I
9 so unless they can be brought to belle,
l. that the manufacturers viii sustain Il
: present rates, which il is wen know
sone of them have not done We a