Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-01-11
THE RULING PRICES.
Following are the ruling prices. and on these
prices there is no longer any disposition to con-
AN EXCELLENT OUTLOOK.
Continued Heavy Production and Higher
Prices Confidently Expected.

Prices Confidently Expected.
ESPECIAL TELEGRAM TO THE DIsPArcHi
NEW YORK, January l0.-The iron trade OF
'S9 was very satisfactory. There was a moder
ate increase in production during the first half
a continuation of the movement during the
concluding half of 'SS; but during the six
months ended December 81, 1889. the
production was quite heavy, amounting al
the close of the period last named to
some 5000 tons weekly more than it did in July
last Manufacturers have acted conserva-
lively in that they have declined TO mark prices
up sharply or to otherwise stimulate boom,
the new year starting in with No TX foundry
pig irons only 81 per ton higher than
per per cent or from SIS to SD SO on n the m
year. The heavy demand for iron came from
gas and water and other iron pipe makers and
from railway companies the latter having
done an enormous amount of business at re-
newing and increasing rolling stock, which
calls for great quantities of iron. The increased
use Of iron as well steellin buidingas well as
for bridges, must likewise be taken into ac-
count and with items previously mentioned
will account for the bulk Of the increase in
production of pig iron. The closing quotations
for the year were uniformly the highest
The outlook for 1890 is for continued heavy
production and higher prices. We cannot get
extra supplies from abroad with which to keen
down prices here so long as consumption equals
or barely leads production; and the moment a
boom starts prices will go as high as 1t suits
them to. The United Kingdom. Belgium, Ger
many and France have no iron to send us, be-
ing crowded with business for future delivery,
Highest and lowest prices for the year 1859:
At New York: Pig iron--Anthracite No.
opened at $40, closed at SIS per ton; Anthracite
No. opened at Sl9 closed at Sl7 per ton;
Gray forge opened at SIS, closed at SIG per ton.
Steel rails-OPened at S35. closed at S2S43Q
Copper-Bake, l415@l7.SOc per pound.
Lead-COmnlon, domestic, S.S5@S9Oc per
pound.
Tin-straits, 2I@2l. .9Oc per pound.
Spelter-Common, domestic. 55O@59Oc per
pound.
At New York City the trade in lead has been
about equal to that of former years. The
stock Of lead in store is about Ii 600 tons. of
which 2 500 tons we're accumulated during 49,
The average price OF lead for the year is So IS.
At the close values are about s. so for corrod-
ing, with s. IS bid The average prices of pig
lead in Chicago in late years, compiled by
Everett & Post Chicago. ILL.,, are S3 67% in
1889; in 1855 a 30 in 1887 81 81 in 1885, 81 5O in
1885, So SO: in 1884 IS S.
The copper market has been conspicuously
irregular, the opening of 'S9 bringing with it a
price of l775c for lake at New YORK and very
firm at that with copper stocks well cornered
by the French English syndicate. In March
the copper corner collapsed and the price at
New York broke to 13lzc and in Nav
after the failure of negotiations be-
tween the American and foreign delegates to a
copper conference" to agree upon policy for
holding available stocks-the quotation at New
York sank TO u cents and in June to IL cents
per pound. A prlce was nnally arranged at II
cents for the American trade in August, but it
disappeared q month later and the quotation
became l015c, the occasion being the final col
lapse of the American combination. At lie
for lake, the trade came forward with free
orders in October, and the demand since then
has been brisk, advancing the price steadily
from l2c in November TO 146l4l<c in December
and l47{c prior tn the close of the year.
Tin opened at 2l.95c per pound at New York,
drained slowly to 2lO5c after the collapse of the
copper corner at the end of March, and to 2O1Sc
month and two months later and to 1850 in
In June. From July on until the
end OF the year there was a
moderate increase in strength and
appreciation in prce, until in October q cents
was reached. From this until the close of the
being 2l.25c. Impnrtations of tin into the
United States were larger in 1889 than in 1888
when they aggregated "a, ,294, ,135 pounds.