Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-09-06
REVIVAL OF BUSINESS.
The Arrival OF Fall Has Improved Matters
in the East.

ESPECIAL TELEGRAM TO THE DrsPArcHr
PHILADELPHIA, September 5.-The first
week of September has fully sustained the an
ticipations of the iron trade as to the re-
vival of business in the fall. In every
branch Of the iron business the conditions are
excellent and there is a uniformity of activity
that Is almost surprising. There are no weak
spots in the market nor is there any abnormal
activity in any single branch of trade. Business
is in well balanced and steady condition that
has not been seen for many months. Both
production and consumption are well adjusted
and there is a steady movement of all iron
making material from ore to manufactured
iron. The large demand for rolled iron and
steel of every description is still the most im-
portant factor in the market. the consump-
the line of those grades used by
rolling mills and steel works. The great
actively throughout the country in bridge con-
struction and building operations creates
heavy demand for structural material in iron
and steel while the builders and pipe
makers are consuming an enormous amount of
lar and pipe iron. The improvement in the
pig iron market which was noted last week has
been well maintained, although there has been
no further increase in the demand during the
past few DAYS. The supply of crude iron is
nowhere large, and the furnace men are not
pushing sales. The prices ruling which
have not changed for several months past are
very firmly held, and the condition of the
market is such that any further increase
in consumption of pig iron would
advance the current figures. The appearance
of few large buyers in the pig iron market
would doubtless have stimulating effect upon
trade TO very large degree. But large orders
are far apart this year. the rule being small
and frequent purchasers.
Recognized brands of Eastern pig iron are
still selling at SIS UOdlS so for No. foundry;
sl7 for No. foundry, and Sl5Ql6 for gray
forge. In the South the output of pig iron con-
tnues heavy, and many furnaces are reported
as being oyersold, especially as regards the
better grades OF foundry iron. Bar iron
shows no change from its continued activity
except slight decrease in new business but
this makes no impression the market as
orders in hand cover all the output of the mills
for some weeks into the future. For strictly
best refined bars the figure is still
l.S5c to l95c, with perhaps a tenth off for
common grades. The steel rail trade continues
steady. but rather quiet as far as new business
is concerned. The mills are running full.
and there is no prospect of a slacken-
ing of trade judging from the orders
in sight. but not yet placed. There is no
change in quotations-SSl63l 50 east S33 so
west and S3l 5O@32 50 at Pittsburg This is a
great pressure upon all the mills rolling
structural material and the indications point
to an extended continuance of the present
activity. Prices are very firm at previously
quoted figures, as follows:
Universal plates, 2.25 to 235: sheared bridge
plates, 230 to 2.4O; angles go to 2.30; tees, 20
TO $50; beams and channels, 3l0 Old material
other than rails is active at good prices. No.
wrought scrap selling at S2l 80 to S23 90 per ton
Philadelphia. There is a constant demand for
old iron rails at about $25 50 to S26 90 per ton
but the supply is very small