Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-01-16
TRADE Is LIMITED
In Iron, With no Certainty of a Very
Early Improvement.
BUT LITTLE BUSINESS GOING.
A Consolidation That Is Expected to Lead
TO Good Results.
STATE OF FOREIGN METAL MARKETS
SPECIAL TELEGRAM TO THR DISPATCH. j

ESPECIAL TELEGRAM TO THR DIsPATcH.i
NEW YORK, Jan. 15-The Iron Age of
this issue quotes the New York metal mar
kets as follows:
The marked Improvement in the financial
situation is expected to have its influence on
the iron trade at an early date Generally
speaking there is more inquiry. but as yet the
amount of business is limited, and it is not
quite clear whether there Is any prospect of an
early improvement.
American Pig-Accounts of sellers differ
very widely. Some confess that they find it
very hard work to make any showing of busi-
ness at a reasonable price, while others claim
10 be dong quite well and speak very enphat-
ically on the point that consumption is well
maintained. On the whole we cannot trace
much business. The shutdown in the valleys
has little influence in this market the quantity
of iron coming from them being small at any
time, it does, however. give some relief to the
furnacemen OF Northern New York. The ma
iority OF the Southern furnaces have not done
much in this market. We quote standard
Northern brands sic 75Gl7 50 for No. l:tsl6 0O9
is so for No 2. and Sli 5O@l5 so for gray forge.
Cmder mixed iron made at furnace in this
vicinity is being offered at low figure.
Spiegeleisen and ferrO-spieGel remains life
less and nominal at S29 00429 80. There has
been some business in terro. and there is some
inquiry. 1t Is reported that a Western mill
has bought 200 tons ut less than Sol at tide
water. We quote S6l062.
BilletS-The market IN the East is quiet.
From the West comes the report on excellent
authority that billeis have been sold at Pitts
burg at S2i .. that being the lowest point
reached. 1t is not believed that it is possible to
come near that figure now
Steel Rails-oniy few sales are reported on
the basis of 81 5OGl2S at Eastern mills. al
though at least one Eastern mill has offered to
sell IN the West 1T prices equivalent to s27 at
mill. The majority of the works ask SIS for
early delivery and S29G3O for later work. The
report that the Scranton and the Lackawanna
works have consolidated Is somewhat prema-
ture, since the preliminary papers only have
been signed. 1t i proper to state, however,
that the consolidation viii probably take place.
The two works were very sharp rivals. con-
siderable personal antagoniSm entering into
trade generally the transaction is regarded as
likely To place matters on a better footing. 1t
may have considerable influence, too, III bring.
;nG to successful issue the negotiations now
pending between the rail mills. a meeting of
representatives Is now in progress in this CITY,
Manufactured Iron and Steel-The market
continues quiet and is somewhat weak partic-
ularly for plates. In structural work only
very moderate amount of business is coming
Up. We quote angles at 205G2 l0c: sheared
aud channels, sic on dock. Steel plates are
225G250c for tank, 2556l2 Csc tor shell and .. IS
abe for 1ange. on dock.
Track FasteninCs-There is very little dong
and we quote spikes AZ 81 00G2 10: fishplates,
LOO LSOc. and bolts and nuts, 2S5ll3c
Old Material-We note sale of about 400
tons of old rails at SD 90 on cars. Jersey City.
Old steel rails are dull, with SIS offered. Since
American crop ends have sold at SIS 90 deliv-
cred tidewater, the open hearth steel makers
show little disposition TO pay more than SIS 90
for old steel rails. which must bear the addi-
tlonal cost OF being cut up.