Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-04-18
IRON TRADE REVIEW,
VeryLittIe Change, but the Con-
sumption Now Exceeds
Production.
BESSEMER BIDS REJECTED.
The Weeks Actual Transactions in
All Grades in the Market.
ABIG STEEL SCHEME In ALABAMA.
New Competitors for Pittsburgs Coal Trade
Heard From Down Below.
TIE MARKETS AT ALL IRON CENTERS
OFFICE OF PITTsBURG DISPATCH, I

OFFICE OF PITTsBURG DISPATCH,
FRIDAY, April IL.
RAW IRON AND STEEL.-Trade during
the past week has presented little either
new or of particular Importance; in fact the
situation may be termed waiting one. We
have been waiting" for the grips depart
ure, for the settlement CT the coke question,
and for an improved condition of affairs
generally. After taking these matters into
consideration the weeks business shows up
fairly well. Let us examine the situation:
Pig iron statistics show a reduction of stocks
in the month of March, compared with the
previous month. of SO, ga tons. The stocks
on hand March / were 1868, 1868 tons: on April
l, 2S2, ,424 tons. OF the 2S2, 424 tons on hand
April /, %, 176 tons are reported sold The
above facts show that production at present
is exceeding production; that stocks ac-
cumulating are growing less and will soon
be thing Of the past; that furnaces out Of
blast will soon see the necessity of start
ing up, providing prices will justify.
Unless all signs fail the great coke strike is
near settlement. Each day sees more ovens
tited up and more men going to work. We
sincerely hope when the settlement is made it
will extend Tor three years, so that business
men may have a certainty that the question
has been arranged for that period.
Pig Iron Dealers Benefited.
IRoS OREs.-Holders are anxious to close
contracts for this years consumption, and are
offering to contract at 81 50Gl 75 per ton.
Furnacemen are still holding off. 1t may be
they are waiting for a settlement of the coke
strike, OF the eight-hour demand announced
for May /, or both. Last year the ore purchases
for the year were closed several months before
this time. A leading iron man remarked: "The
coke strike has unQuestionabiy saved the pig
iron trade from a serious disaster by causing
an involuntary reduction in the output of 40
per cent within the past four or FIVE months as
prices are to-day as low as when the strike was
inauguraled on the 10th of February Cur
tailment was an absolute necessity, and, that
being the case, it makes no difference in a
business point Of view whether 1t was brought
about amicably or not. So much less iron was
wanted and so much less had to be made"
The Shenango and Mahoning Valley furnace
men have this to say: Although matters have
not progressed far enough to permit definite
statement TO be made of the intentions of GER
tain furnace companies. it is known that as
soon as they have secured reductions now
deemed certain on ores, coke and freight, an
aggressive policy will be inaugurated for re-
newal of the control of Northern markets."
The Tone of the Market
THE SITCATIoN-Dealers generally report
an increased inquiry. Bessemer sales show
various prices. Grey Forge maintains prices
steel slabs prices have declined. Ferro mang-
anese advanced. Muck bar shade lower
Steel wire rods lower. Spiegel advanced.
Skelp iron unchanged. Scrap material, de-
maud fair and prices maintained. Blooms and
bilets not so firm. New steel rails firm, buyers
and sellers apart
IATEsT-The outlook is improving; increased
demand for Bessemer One firm had offers for
10000 tons, another for 5000 Both declined TO
accept present prices. Both firms are owners
of CITY furnaces.