Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-04-25
SHARP COMPETITION
For Desirable Orders Keeps Down the
Figures on Pig Iron.
STEEL RAILS YET REMAIN FIRM.
The Markets Abroad Are in a Decidedly Un-
settled Condition.
NO CHANGE IN THE COKE SITUATION
STEEL RAILS YET REMAIN FIRM.
NO CHANGE IN THE COKE SITUATION
,u,vc,,I TELEGRAM TO THE p1sPArcrI

,sprcrAL TELEGRAM TO THE pIsPArcHl
NEW YORK, April 24-The Iron Age re-
mort of the market is as follows:
American Pig-Sales are on a moderate
scale in the territory tributary 10 this mar
ket. buyers taking only small lots. Desira-
Bile orders are sharply competed for, particu-
larlv by Southern furnaces. The supply of
No. from the latter is very moderate, how
ever, while, on the other hand, Northern
furnaces have a moderate accumulation of
that grade. At least one of the large South
ern furnace companies has practically with
drawn from the market. but others are still
seeking business quite eagerly. On moderate
lots the quotations for Southern iron are on the
basis of Sl7Gl7 so for No. foundry and SIC 25@
is so for No. foundry. For large and desira-
bic orders. however, sellers acknowledge that
sic so for No. ] and Sl6@l6 25 would be &C
cepted. Northern furnaces quote NO.
f0Lndry from SIS to Sl9 and for No. Sl1GlS
Spiegeleisen and FerrO Manganese-During
the week an Eastern rail mill has purchased
5000 tons of 20 per cent English spiegeleisen at
S3l 80 for delivery after July. Another order
for 1000 tons has also been booked. This price
Is regarded as low by importers since it is con-
sidered impossible at the quotations abroad,
ruling at present. to lay down the spiegel Tor
early delivery at less than So 90 or S32 So The
Situation in manganlferous material is regarded
acknowledged to prevail in the general trade.
Tie demand for this class OF material all over
the world has increased very rapidly, SO as to
outstrip the supply of good ore. during the
mast six months the scarcity of ore has led to
the placing on the market of good deal OF ore
poor in quality. The result has been that there
has been a good deal of-color spiegel made, and
that reflections have been very heavy. The
quality of spiegeleisen needs very careful
matching ana bargains may prove dangerous
Ferro manganese is weak. Future delivery
, n rlv
So 5OdS3 90.
BnIets-The market is quiet so far as large
transactions are concerned. There are a good
many inquiries for small lots, however. We
continue to quote the market $50 5O@3l 90 at
Eastern mills but 1t should be added that some
of the leading mills are not ready to meet such
prices. They are, however, on parity with
the quotations made in the West.
Wire Rods-The market is very quiet. Sales
are reported from Pittsburg at S42 which is
equivalent to S44 60 at tidewater.
Steel Rails-Transactions in this market have
been limited in quantity. the largest sale re-
ported being one lot of 5000 tons TO road in
tinues weak but considering the drop in other
lines, notably in Bessemer pig iron and in steel
blleIs in the West, rails have kept up remark
ably we'll This is partly attributed TO the fact
that in the lines named speculative lots have
been thrown overheard demoralizing the mar
ket while in rails that has not been the case.
1t is true also that the pressure to sell among
rail makers has not been general by any
means On the whole the mills are COM
fortably of for orders, some of them
being in particularly good condition so
far as their order books are concerned.
There is little probability of further decline
in raw material in the West, unless the ore
mining companies accede to the demands now
being made by some of the mills in the Wheel
ing district that the price on contracts on
which delivery is now to begin be adjusted to
meet the changed conditions of the soft steel
trade. In the West there are rumors of the
placing of an order for 10000 tons for a new
road on the Pacific coast We quote steel rails
at Eastern mills s39 OOd3S 50, although some of
the sellers are firm at higher prices than these.
Old Rails-The sale is reported of lot of
1000 tons of tees at private terms. The market
continues very dull at nominally s23 5O@24 co.