Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-04-11
PRICES ARE BETTER,
But the Iron Market is Still in an
Unsettled Condition.
THE SOUTH'S PRODUCT A PUZZLE.
Not Much Demand for Steel Rails Just at
the Present Moment.
ANARKED REACTION In GREAT BRITAIN
nrrc1LL TELEeRAn TO THE prspArcH. i,

ESPECIAL TELEeRAH 70 THE DrspArcH.,
NEW YORK, April 10.-The Iron Age re.
port of the market is as follows:
American Pig-The market is still in a
more or less unsettled condition. Some
anxiety exists as to what steps the first law
of nature may prompt certain recognized
leaders in the sale of standard Pennsyl-
vRnia brands in this locality to take in view
of the sharp competition from sellers oi
Southern iron, and in the absence of infor.
nation on that point or new developments
IN other directions, business is deferred to a
certain extent. In remote cases prices as
low as those quoted last week for Southern
pig are still heard of, but local representatives
OF the largest concerns quote sl7 5O9ls 90 for
No. l and sl7 OOQI7 so for No. as
their lowest figures, claiming not to
have made sales at lower rates.
The assertion is quite general that strictly No.
foundry is in comparatively light supply in the
South, one company indeed, refusing, it is said.
to take orders for other than small quantities.
An offer of SIC so for 1000 tons No for forward
delivery was made by broker and found no
takes. The intending buyer, it is claimed.
would pay sl7 for that quantity of any of the
recognized nrst-class brands. On Northern
iron the lowest prices quoted are SIS for No. 1
and sl7 for No. 2 which figures do not appear
TO be named except on stock in second hands,
regarding the quality of which there seems to
be some doubt. On transactions IN small lots
for immediate delivery the ruling figures are
SIS 506l9 for No. j and sl7 50GlS for No. 2 ac-
cording to brand. There is general belief that
if any cut is made in prices of leading North
ern iron it will be no half measure.
Bessemer Pig-Eastern prices are practically
the same as quoted last week. being about Sl9
SIG 50 in Eastern Pennsylvania, and relatively
Spiegeleisen and Ferro Mauganese-Few
transactions have been reported, but there is
still some trade under negotiation with a fair
prospect of business. About SSS 50Q34 seem to
be sellers inside figures for 20 per cent Spie-
geleisen and SSS the best offer.
Steel Rails-Apart from small sales for early
delivery there has been no business in the East
and orders are rather scarce as well as invaria-
bly, small at the present time. What transac-
tions have gone through were at S34 at the mill.
for heavy sections. Brokers are said to have Of
feredi at SS4, at tdewater however, and
to have also solicited bids of $S3. How far the
brokers acted upon their own responsibility is
however, open to question. 1t is an open secret
that some manufacturers have orders on which
there is a guarantee against a decline from the
contract prices. and this fact, along with the
absence of orders Of sufficient magnitude to
prompt low offers, may account in a measure
'frr the present display of frmness. Pittsburg
is still relatively lower than the East. That fact
is suggestive in itself. is also the placing of
the recent ChlcaEo. Burlington and Quincy or
der for 1900 tons. on which Pittsburg under
bid the Chicago mill.
Fastenings-The demand improves very lit
tie, if at all, and prices are still weak. Splice
bars are quoted at 1.75@2c. Spikes may be pur-
chased at 81 at mill and 81 10 delivered Bolts
and square nuts are nomnally 2963c and bolts
and hexagon nuts 3l0GSl5c delivered.
Old iron rails-A lot of doube.heads has ar
rived. The owners offered at SIS So but re-
ceiving no satisfactory bid, placed the lot in
store. Tees are nominally S249M SO with very
little demand from any quarter.