Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1889-12-21
ANXIETY AT NEW YORK.
Some Fears as TO the Permaneuce OF the
High Prices.

Some Fears as TO the Permanence OF the
High Prices.
ESPECIAL TELEGRAM TO TIE DISPATCH.
NEW YORK, December 20-The extraordl-
nary advances made in iron ore. Bessemer and
foundry pig charcoal iron and in steel blooms
billets and slabs are not regarded as wholly re-
assuring by the iron trade at large. The
anxiety to literally cover requirements
for the ensuing year is the basis
of the unusual activity and high
prices at this time. Users of all kinds of iron
and steel material desire and intend, SO far as
it is in their power TO know what raw
material will cost them. Cleveland ore
transactions are reported to foot up
nearly 35O0,OOO tons for 1890. Gogebic
Bessemer ores have sold as high as Sc at that
point Menominee Bessemers, S6 to S. % Bes-
sener pig has reached 80 at western dis
tributI1r points. Alabama car wheel iron has
sold IN Chicago markets at SIS to SIG. South
ern ironmakers are announcing quotations for
1890 at SIG 20 to SO 25 for No. delivered at
Chicago. Lake Superior charcoal is held as high
as 50 TO So 90 at that point Buyers of steel bill
leis and blooms are endearoriug to cover re-
ahead. and in their urgency for supplies prices
are held atoutside figures, and capacity is over
sold. A vast amount of new business
is coming in sight, and the possibili-
ties of a general advance in quotations
in January or February are contem-
plated with more or less favor, according
TO the position of the observer. Very
heavy contracts have been placed through
out the East and West for Bes-
semer iron. Merchant bars were ad-
vanced this week at Philadelphia to ceGts
Neutral gray forge is held at SIS to SIS so at
Pittsburg and Bessemer pig at S24 TO SIS. There
is an active demand for merchant iron and
nails in Western Pennsylvania and steel rails
are quoted strong and active at SS5 to S36
In several markets users of forge iron have
succeeded in placing large orders for delivery
during the next three or four months at what
may under the circumstances be regarded as
reasonable prices. The plate and structural
iron mills Will be crowded through the winter
at outside prices. Inquiries for merchant steel
sheet iron plates and tubes as well as for
barbed wire iron and steel nails all indicate
an unusual demand as probable during the
winter months. In steel rails nothing of de-
cided importance has transpired- Sales for
1890 foot up nearly 1000 tons. Official state
ments show that shipments this year foot up
1ll6,0l7 TONS which is about equal to the ship
ments up to same time last year. The
gross production for 1889 will foot up
about L500,900 tons. The iron and
steel making CAPACITY is being strained to the
in progress in every quarter. Iron and steel
prices lat mill or furnace). Pig iron, anthra-
cite No. L ton, December 20 1883 SIS 506lI9 80;
December lS. 1889. SIS 5OQl9 SO; Decem-
Steel rails, ton, December %, 1889, SS4135; De-
cember Is. 1852. S34635; December q. 1855, S2S0
2g. Lowest. S26. Comparative prices of other
materials tiu storel: Copper, lake, pound, De
December q, 1855, l7,25l Lowest, l01zc
Lead, common domestic, pound Decem-
ber 90 1882, $500: December Is 1889.
$500; December q, 1881 $500; lowest 1854 SIC.
Tin straights, pound, December %. 1889. q. 100;
December l3. 1859. p, $50; December D. 1855 d.
500; lowest 1884, 1910. Domestic, pound, De-
cember 20, 1889. none; December l3 1889 none;
December q, lSSs, 1900: lowest 1854. 41sc.