Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-05-30
THE SCARE is OVER.
A Raise in BeSSemer Figures at Pitts
burg Greatly Helps the
ENTIRE MARKET In THE EAST.
Pig Iron, However, Remains in About the
Same Condition.
TIE SITUATION ACROSS THE OCEAN
ESPECIAL TELEGRAM TO THE DISPATCH,

ESPECIAL TELEGRAM TO THE DISPATCH.i
NEW YORK, May 29.-The Iron Age in
its issue to-day prints the following :
The sudden change for the better in Pitts
burgh in Bessemer pig billets and wire
rods has not been without its effect upon
the Eastern markets. 1t has relieved them
OF strain under which they had been suf-
fering. The low prices made were dictated
by Pittsburg and Wheeling, adding freight.
The Eastern markets maintained a level
higher by the cost of delivering from Pitts
burg to common points. The rise there allows
the Eastern works to control their own market
once more. The scare is over and more con-
hdentfeeling prevails.
American PIg-The market in this Vicinity
remains quiet, the volume of business being
moderate. The supply OF foundry irons which
this market is almost exclusively interested in
continues ample, except No. !, of which grade
the Alabama furnaces have relatively little to
offer. We continue to quote slS&l9 for No.
and sl7GlS for No. Northern, and SIG 75@I7 25
for No. l and sl69l6 so for No. 2 Southern
foundry iron.
Spiegeleisen and Ferro-Mangauese - The
change in the feeling in the West is illustrated
in recent occurrence. a steel works. through
an importer. offered for resale lot of 900 tons
of SpieCeleisen TO arrive as low as SS3 Pittsburg
a counter offer of $50 was made and declined.
Now the seller has withdrawn even at the fig
ure first named. There has been more active in
quiry for Ferro, some of the Western steel
mills being in the market for the third quarter
of the year. Sellers QuOte from SIS to $50 for so
per cent. For immediate delivery sS3 has been
paid.
Billets-Transactions of some magnitude
have been made, but details are withheld.
Some sellers ask SSO at mill. Nail slabs were,
until few days since, offered as low as S2e at
buyers mill.
Wire Rods-No business is reported. One
Pittsburg mill, which sold as low as SIS about
two weeks since, is now asking Sal
Steel Rails-The market Is very quiet and
dull. with comparatively few orders in sight for
the Eastern mills Pittsburg makers are re-
ported to be suffer. Up TO May the sales re-
ported were ,020, ,023 gross tons but WHAT more
Important. the deliveries to the date aggregated
464,2ll tons by the reporting mills. 1t is
not estimating too high to place the total rail
deliveries. including light rails, at close upon
$4,000 tons. This is at the rate of SOS 600 tons
for the first half of the year. while last year the
output OF the first six months was only 642. 653
tons. while It S27. .792 tons during the second
half. In other words, in spite Of the feeling so
prevalent that the rail trade has been relatively
slow, the tonnage is equal to that of the second
hall OF last year. and FAR in advance Of that of
the first half of 1889. We continue to quote the
market nominally at S3l 006l3l 80.
Structural Material-There is a little better
feeling. We quote 2.l5G2.20c for plates, 2l5@
225c for angles, 25426c for tees and 3.lc for
beams and channels.
Fastenings-We quote spikes, 81 90G2; angle
bars, 81 75Gl so, and bolts and nuts, 81 S062
Old Rails-Wes inquiries continue to be
the feature. There is also some demand from
Southern mills. We note sale of 500 tons at
Jersey City at S23. We quote S23Q2S 50.