Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-12-05
SCARCITY OF MONEY
Causes General Spirit of Dullness
in the Iron Market.
4 POOR OUTLOOK FOR DECEMBER.
The Steel Rail Business in an Absolutely
LifeleSS Condition.
STATE OF FOREIGN METAL MARKETS
4 POOR OUTLOOK FOR DECEMBER.
STATE OF FOREIGN METAL MARKETS

rsPFcrA1 TELEGRAM TO THE pIsPATCH.1
MEN YORK. Dec. 4-The Iron Age of
this date quotes the iron and metal markets
as follows:
The principal feature in the markets is
the general attitude taken by the railroads
in either delaying the payment for pur-
chases of material made or asking for the
deferring of deliveries. This is true even of
the strongest lines and may be partially ex-
planned by the fact that the majority OF
them must be accommodating funds to meet pay
ments of interest on bonds due in January
The prospect, therefore is that the month Of
December will be unusually dull, SO far as new
business is concerned.
American Pig-Ihe market Is very quiet but
fairly steady. In spite Of the strike in the Biz
mingham district we learn that Southern gray
forge has been offered as low as SO 80 at fur
mace. We quote Sl!GlS for No, | foundry; sloG
l6 80 for No. foundry and Sl5Gl5 oO Tor gray
forge, standard Northern brands, tldewater
delivery. We quote southern No l. SI6 5OG
II 2j; No. . SIS 50Gl6 -, and No 3, Sl4 5OGl5 w.
SpiecelliSen and terro manganese-In Sple-
gel the market is absolutely lIfelesS. In ferro.
there are reports of very low offerings, S62 DUG
65 30 being named as the figures on which ous-
BiIlets and rods-It is reported that several
thousand tons of foreign billets have been
BOUGHT for re-e1port in manufactured iorm at
ent drawback of 80 per cent such billets cost
the mill inside of So
Steel Rsils-The market is absolutely lifeless,
not I single transaction of any consequence
having been reported during the week. While
we DO not hear OF the carcenng of any con-
tracts deliveries are being deferred in num-
ber Of cases. The princlpal trouble now seems
TO be the difficulty experienced in obtaining
money. Collections are said to be very poor.
and some Of the rail mills have been stacking
IN rails in their Yards rather than let them
m 0r1T VI
The Bethlehem Company has been closed down,
aud we understand that the Pennsylvania Com
pany vii! stop IN January for extensive repairs.
The negotiations carried on among the Eastern
mills have not yet led to any conclusion. We
understand that the first step in them was to
be the purchase OF one mill.
Rail fastenings-Practirally no business what
ever is DOING and as in rails the mills are asked
10 extend time of payment The market is
weaker and may be quoted nominany Angles;
l70Gl 75c: spikes, l95d2O5c, and bolts and
ruis, &7j1GU0c delivered.
Manufactured Iron and Steel-Iron workers
report that they are estimating on very little
new business, and the quiet season OF the year
has therefore set in. Within the next few days
a large bridge for Vancouver is to be given out.
We quote steel tank plates, 2S5Q25Oc; SHE'LL
2GUG2S0c; 1ange, 2S5GI3c, aud hreboX, S.1oQ
z-25c. delivered, according to quality. Angles,
2l5d 2S9c; sneared iron plates, 215922oc; tees,
2651276c and beams and channels, SlOc, on
dock.
Old Rails-.rhe necessities of the railroads
and Of some holders, together with the apathy
OF buyers. have established n lower range of
values. Old rails have been offered in vain at
50 5062S 90, buyers views being under those
figures.