Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-08-28
A STAGNANT MARKET.
Very Little Activity Noted Anywhere
in the Iron Market.
THE SLACKNESS IN STEEL RAILS
Telling Rather Heavily on the Bessemer
Pig Iron Market.
THE SLACKNESS IN STEEL RAILS
STATE OF THE FOREIGN METAL TRADE

ESPECIAL TELEGRAM TO TIE DIsPATcH.)
NEW YORK, Aug. 27.-The Iron Age re-
ports the condition Of the iron and steel
markets as follows:
American Pig-So far as foundry irons are
concerned. the New York market has shown
very little activity during the past week
The slaclIness of the rail trade is telling
heavily on the tone of the market in Bes-
seuler pig iron. Thus d lot of l,000 tons, tide
water delivery, was sold during tho week
for open-hearth purposes at very low
figure. Northern brands are quoted Mt Sl6 70
GlS 90 for No. ]; $l6 o0@l6 50 for No 2, and
Ga GO9I4 30 for gray forge. Southern irons
sell at SIC OO9I7 GO for No. /: SIS 25@l6 90 for
No .; sl5 509Il5 90 for No. soft, and $l4 00@
IA 20 for gray forge.
Sricgeleisen and Ferro Manganese-In
spicgel leisen the stagnation continues. There
have been some sales of roundlots OF foreign
ferro at prices equivalent TO S66 Pittsburg or
S6S 90 tidewater. The arrangement between
the foreign producers and the leading
American makers seems to be in full opera
tfOn, while the details of il are not known.
The fact that all the foreign makers quote
the same price is evidence of co-opeTation
among them, while it is stated that this
market has been divided between the for
eign and the American works, the former
taking the Eastern and the latter the West
ern trade.
BilIets and Rods-Sales aggregating 5000
tons OF foreign haSlc hllietS are reported. the
greater part thereof being required for re-
export wire trade. The exact prices al which
these transactions were closed are not given,
but they are stated to be in the vicinity of
S3l % for New York delivery, and a some
what higher figure for Boston delivery. In
domestic billets very little business is re-
corded. but there are rumors of low offerings
OF Western stock. We quote domestic rods
$50 55d3S 90 at tidewater.
Steel Rails-Stagnation in the rail market
continues. business being still confined to
purchases of small lots of light rails. W hile
the outlook for the immediate future is GER
tainly dishearten1ng, the prospects Tor fall
and winter indicate considerable better
mcnt. A gentleman whose connections with
the rail trade lead him TO be a close observer
OF the requirements of the railroads re-
ports that one of the great Eastern trunk
lines is soon about to place round order:
that business is beginning TO shape in the
" est and that the concern with which he is
connected is preparing for busy winter.
The price continues unchanged at $50 75@
81 90 a tidewater.
Manufactured Iron and Steel-Prices in all
lines OF manufactured iron and steel are ex-
ceedingly low, and have as yet shown no I'M
provcment whatever. The amount of bust
ness coming up locally is satisfactory, how
ever. We may note that the CatasauQua
Manufacturing Company are again rolling
their well known bars and plates. We con-
Jinue to quOte: Angles, 1909. l0c: sheared
plates 1892 Csc: tees, 2.45@2 i5c, and beams
and channels, 3.lc, on dock. steel plates are
1892 l5c for tank; 2362jc for shell, and Esq
21c 1or fiange, on dock. Bars are l7@l9c, on
dock