Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-04-17
VERY LITTLE TRADE.
Nothing of Consequence Transpiring
in the Iron Market.
BUSINESS STILL REMAINS DULL.
A Slight Boom in Steel Rails Helps Along
the Business,
STATE OF FOREIGN METAL MARKETS

SPECIAL TELEGRAM TO THR prspArcHI
NEW YORK, April 16.-The condition OF
the iron and steel markets is thus reported
by the Iron Age:
American pig-The market continues quiet,
although this is not matter of surprise to pro-
ducers, who Know that generally the dullest
time Of the year is the first quarter, during
which stocks arc accumulated. The situation
is very different this year, and there can be
little question that the large restriction of
output in the West il indirectly benefiting this
market. WarraHTiron is being offered at low
figures, as SO 50 WAS the best bid obtainable on
forge, birmingham delivery on a lot offered
recently. Ihe extreme range on Northern
brands is sl5 OOGlS 0O for No. l. SIC 0O@l6 75 for
No. > aGId Sl4 u0dl5 90 for gray forge. South
rrn IRON sells At SIG 75Gl7 80 for No. !, SIC O0Q
10 q for No. ,, and Sl4 OU0ll4 % for gray forge
Spicgelei>en and ferro manganese-Only a
snall business is being done III spiegeleisen,
which Is nOminaly at S27 5O@2S so. FERN
manganese is held at S64 OOQ64 25 the cheap
los having been absorbed The foreign makers
are asking Ell los +. o. b., equivalent To
SG3 IS delivered. 1t is limited that the American
makers are acting in harmony with the English
producers.
Bliets ana rods-The Eastern market is dull
The only transaction of any magnitude is the
placing of lot of several thousand tons of in
gots, subject to approval of trial order. at prl-
vate Germs. Plttsburg is reported to be selling
billetS ~ 81
ManutacIcred iron and steel-Business non.
tnues quiet We quote: Angles 1882 l0c;
=hearcu plates 2G2 &c. Tees, . 456275c and
beams and channels, sic on dock. Steel plates
are 2G-15c for tank, 235d26c for shell and &c
Q21c for hange on dock. Bars are L7lL9c. on
dock.
Merchant sieel-We quo machinery steel,
-g3G-l base; ana tire eel. L95d205c base.
Ran fastenlnEs-Ne quote spikes 81 SOGl 95
delivered; hsh plates l1JGLS0c delivered, and
bolts. 275G2 aOc delivered.
Steel rdiS-Since last week the apathy of
buyers has given way. and a number of rail-
roads which have been holding off for some
time past have been forced 10 enter the market
III order 10 procure the material for spring re-
pans. There have been 4 good many contra
dIctory rumOrS concerning the purchase of the
PennsylvaHia Railroad Company. We have 1t
on good authority that its purchase amounts
TO $1,000 tons distributed among the mills
along the line of its road. The CON-
pany had previously ordered at different
times for repair work an aggregate OF about
5000 tons Further orders must be placed
later on. The Enc Company have bought
4OUO tons for Immediate delivery, and have an
option for 8, 900 tons more, which will be placed
as soon as reports of division superlntendents
are in. The New York Central have bought
Tor the Rome Watertown and OgdensburS
%W9 toms which. with purchase of l2 00O tons
made last winter. leaves only part OF their re-
quirements covered. The New York Pfovi-
uence and Boston line have taken l 800 TONS
LOCO tons have been purchased for Immediate
delivery for export to Mexico and some MINOR
sales and additions to former purchases foot up
10 about , 2UOU tons
1t is reported. too, that the Lehigh Valley,
which had already placed close upon Is 900 TONS
had increased lis order to 200 tons aud that
the Mohawk and Northern which 1t is insisted
Is not connection of the New York Central
had added 5.0O0 tons 10 its previous purchase
There has. therefore. been a good deal of
ACTIVITY, the most striking feature being that
the majority of orders for early shipments
thus showing that the railroads have been
holding off to the last moment The placing of
the Pennsylvania order is generally the signal
Tor buying on the part of many other lines. and
this movement may, therefore, he looked for
ward 10 now. We underestimated the quantity
OF rails thnS far purchased in a recent issue
The ofhclal report shows that up to March the
mills had booked for 1891 delivery AIS AZ tons
OF standard rails, of which Western mills took
about 225 600 tons