Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-10-10
IRON TRADE REVIEW.
The Home Market Weaker, With
BeSSemer on the Decline.
RUM0RS OF A STEEL RAIL SALE.
The Sales of Paw Iron for September Break
Previous Records.
JMORS OF A STEEL RAIL SALE.
HOW THE MARKETS CLOSED ELSEWHERE
OFFICE OF PITTsBURG DISPATCH, I

OFFICE OF PITTsBURG DIsPATCH,1
o.. FRIDAY, Oct. 3. I
RAW IRON AND STEEL-Business during
the week has not been very satisfactory, at
least to the seller. To effect sales the
shading of prices was again resorted to, not
withstanding the fact that pig iron here is
selling lower than in any other market.
This is not generally the situation. There
is good deal of business doing of various
kinds, but prices are irregular, feverish and
very uncertain. Confidence is far from
being restored. In regard to improved
prices no person is willing to venture an
opinion. One thing is certain: Trade can-
not continue in the present condition much
longer. Most of the city furnaces are well
sold up, and are not anxious to make tur-
ther contracts at prevailing figures.
The Situation in the Fast
is thus described by leading iron man.
"A large business has been done during the
past two weeks. and trade is still abundant
at prices recently. ruling. Sellers are try
ing to secure better prices, and in some in
stances have succeeded in doing so for de-
liveries during the first quarter of the COM
ing wear: but for 1891 it is hard to secure
anv clearly defined advance. Practically
sellers are getting more money, as conces-
sons that were almoS. unavoidable little
while back are now completely done away
with The supply of iron is very large,
and while the demand is equally so, II gen.
eral appearances are any criterion, better
prices are not very far distant Several
brands. both local and Southern, are held
for an advance on previous prices, which
shows that order books are pretty well filled
up 1t is seldom that sellers begin to talk
higher prices until they have about all the
business they can handle.
Difference of Opinion.
Renorts from the Shenango and Mahon-
ing valleys are rather conflicting, as fur
mace men don't hold the same opinion in
regard to values At the same time sales
of pig in the valleys are fully abreast with
those th>. govern the Pittsburg market.
Freight7 10 Pittskurg are 20 cents per ton;
al the same time there is good deal of iron
from those districts that finds a market
here.
New steel rails are steady at current rates;
a rumor was abroad that a sale of 50, 600 tors
had been made to foreign country, but the
figures could not be learned. Scrap mate
rial continues firm and inquired for, es-
pecially No. ! r. Il. Other descriptions com
mand fair prices. Old iron and steel rails
held firmly at current rates; the former is
ve-y scarce and will soon be numbered with
things of the past as steel has taken the
place of iron in the manufacture of rails.
steel bnlets-Sales for some time past have
been unusually large: prices weaker but
show no quotable change. Muck bar-Sales,
early delivery. at previous prices.
The LATEST-The market is weaker for
certain descriptions. Besscmer sold Mt very
low figures. Gray forge shows no decline
compared with last week. Steel slabs and
Dillets less active and prices main tained.
Muck bar shows no change in values. Old
rHils-Iron and steel scarce and held firmly
at quotations. Scrap pInaterial-There was
good demand for certain descriptions. Sllelp
iTon-A steady demand continues at full
prices. Ferro manEanese-Domestic is held
at an advance The outlook is not very en-
COuraging. The fact that another firm asks
an extension, did not helpathe market at the
close yesterday.