Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-10-17
SHOOK THEM ALL UP.
A Sale of Tennessee Foundry Iron at
a Very Low Figure Creates
EXCITEMENT In THE PIG TRADE
Mill Grades Are Plentiful, With Prices
Barely Steady.
METAL MARKETS ON THE OTHER SIDE

ESPECIAL TELEGRAM TO THE DIsPLrcH.l
NEW YORK, October 16.-The Iron Age
of this date quotes the American metal
market as follows: American pig iron
The rather monotonous condition of affairs
that has prevailed in this market for some
considerable time past has been broken by
the sale of a block of 900 tons of Tennessee
No. foundry-Lacy or Ensley brands
tor. October, November and December de-
livery, at SIG % at tidewater The lot was
taken by prominent local customer That
this transaction, at so low a price,
caused a little excitement among the
local trade hardly need be stated,
as IL has all along been claimed that the partic-
ular brands specified, as well as several others
popular with Eastern consumers, are in light
supply. However, the facts are as exactly as
outlined above The iron sold was not No. l
soft" as stated in some quarters but strictly
No. / foundry. and the only extraordinary
feature connected with the transaction is the
very low price. 1t Is the general report that
the first-claSS Southern No. foundry can be
had at less than SS at furnace. or Sl7 25 at tide
water, for delivery during the balance of the
year. and as much as SIS has been obtained for
one brand where sold on terms easy for the
buyer Northern brands of high grade foundry
pig have undergone no change. Low grade
foundry pig is plentiful, as are also mill grades
and priees for the same are barely steady .e
quote SiT 50GlS on for No l. and Sl6 0Ogl6 90
for No. . foundry. go d Northern brands; SlI OO
ali 80 for No. l. SIC O06l6 50 for No. and Sl4 10
@I5 25 for No. 8 South-rn.
SniegeleiSen and feTro-Ihere has been no
change whatever in the condition of the market.
Importers assert that the condition of the
foreign market will not permit any concessions
on foreign prices. Twenty per cent spiegel is
CnO 10lNSl M German and MN
81 so for English, and 81 per cent ferrO At SO 20
for luture delivery.
Steel rails-Transactions in this market have
been few and confined to unimpnrt ant lots.
There are number of inquiries, but they are
chiefly of undesirable character or for rails
for delivery next year, that agents do not aD-
pear inclined TO take mold of 1t the present
time. The basis OF SO ut Eastern mills. this
years delivery, Is openly quoted ana doubtless
full value. The associated manufacturers have
decided not TO furnish for publication their
monthly statement of sales and deliveries A
meeting of manufacturers Will be held in this
city on the pa instant, at which the general
situation will he discussed and probably some
action taken in the direction Of maintaing uni
form prices during the coming year.
Steel bilets-Prices in the Western Penn
sylvania markets have dropped and the East
ern markets are rather easier, as a matter of
course.
Steel wire rods-For rods prices have varied
u no remarkable extent Eastern mill rates
are about SI30I3 - for regular Sizes Special
grades have brought as much as S45 in small
quantities.
Structural iron and steel-The situation in
this branch is unchanged, but prices are steady.
We quote al 2-23c for universal mill plates de-
livered, 2lO@22sc for angles. 260Q270G for
tees. and 8 lc Tor beams.
Old rails-Inquiries from the West are still
on the market. but no important business has
resulted. and buyers ana sellers views are for
the most part as far apart as they were week
ago About 500 tons of foreign tees we're sold
at S26 delivered at Philadelphia. A lot on the
spot could have been secured at SIS 90 in store
but buyers wouldn't go above SIS 50t. o. b. cars.
Scrap irOn-In wrought scrap there has
been little dong. A small quantity went at
S2l, which price is 80 cents to 81 below holders
present ideas. A lot of 500 tons foreign, afioat
has been offered al SD but was withdrawn on
receipt OF documents showing that the con-
siGnment included i considerable amount of
hsh plates. Car wheels were offered at SIS
here,