Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-12-12
In SOUND CONDITION,
Nothing in the Iron and Steel Trade
of an Alarming Nature.
PRICES HAVE TOUCHED BOTTOM,
THE FOREIGN METAL MARKETS
-sprcrAI TELEGRAM TO THE p1sp1rop A.,

ESPECIAL TELEGRAM TO THE DIsPNrcHl
NEW YORK, Dec. 11.-Following is the
Iron Ages report OF the iron ana metal mar
kets for the week:
1t is becoming more and more evident
that, so far as the iron trade is concerned,
people are much more scared than hurt.
The iron and steel trades are undoubtedly
in an exceptionally sound condition. Prices
have been declining for months, so that
liquidation has proceeded for long time.
Values are now as low as they ever have
been, considering cost, and there is nothing
in the situation to cause any alarm what
ever 1t is fair to add, however, that che trade
must be prepared for long spell of close bar.
gaining and light business. So far as we can
learn the banks are treating the trade well, evil
IDENTIFY having confidence in it.
American Pig-The majority of sales agents
report a quiet market, but in those cases they
are generally the ones who appear to have
little discretion in naming prices to meet pre-
vaiing conditions There is some tIying going
ON, however. Thus we hear that one house
sold during the week. in blocks of 1000 tons
and under, about 600 tons of Virginia, Tennes-
see and Georgia irons, about one-half to Balti-
more consumers. on the basis of Sl7 % for No.
l; SIS 30 for No. 2 and SIG for No. 8. In response
TO kilograms TO the Alabama furnace CON-
panleS, we are ADVISED to-day by wire that the
Woodward Iron Company are running both
their furnaces and do not expect to stop,
since their miners at work; that
the De Bardeleben Company have blown
out No. and No. and do not know when the
two others must follow. The GadSden. Ala,
furnace is in and expects to keep running
Mary Pratt is out for repairs. Trussvile is
running. but cannot tell how long it will con-
tinue. Williamson is producing and expects to
continue. Hattie Ensley, at Sheffield will not
blow out. Lady Ensley was put out early in
October. The Tennessee Company are run
ming three furnaces at Ensley and one at Alice,
and the Sloss Company three out of four. The
Pioneer Company, at Thomas, have banked
both their furnaces.
Spiegelisen and Ferro Manganese-No bust
ness whatever is doing. In ferro, makers
name prices equivalent to sG6G67 here; bus
there are lots IN second hands which are offered
at figures rejecting the financial necessities of
the holders. Under the circumstances every
transaction must depend upon its own merits.
Billets and RodS-Aside from the repetition
of reports of low offerings from the West
equivalent to SIS % East there is nothing to re-
port.
Steel rails-The market is absolutely lifeless.
The mills are holding off. in the hope thar nego-
something TO prevent ruinous competition.
The Bethlehem mill is reported to have started
on an order from the railroad on the line of
which it is located.
Rail fastenings-The market is weaker with
very little doing. We quote angles at ], ,7O6
! 45c: spikes, 81 1892 90, and bolts and nuts 27O
O. Soc.
Old rails-The best bids which an active can
vass of the market in behalf of a railroad CON-
ports from the West indicate break there
also.