Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-08-08
THE PRICES MAINTAINED
In a Satisfactory Manner Upon All
the Standard Brands.
AN ADVANCE IN LAKE FREIGHTS.
The Scarcity Of Tonnage Sure TO Be a
Source of Strength Later On.
BIG GRAIN CROPS WILL HELP A BOOM
OFFICE OF THE PITTsBURG DISPATCH,
FRIDAY August T. {

OFFICE OF THE PITTSBURG DISPATCH, !
FRIDAY, August z.
RAW IRON AND STEEL-Traie during
the past week shows no signs of improving
This, however, viii not continue. BY Sep
tember l the absentees will have returned,
and business will open up in earnest Unless
all signs fail, the fall and winter trade in
iron and steel will far exceed previous rec
ords. Let us see how the July sales of raw
Sron compare with July, 1890. For five
weeks, ending August l, last year, sales
were 125, $50 tons; sales the same time this
year, 225, ,095 tons; in favor of 1891, 99,0S5
tons This is certainly a good showing.
Consumers will have reasonable supply on
hand when the fell trade opens. The
stock of iron in first hands is not lnrge, as
many parties are well sold up. Others,
again. have made contracts, some OF them
Tor August, September and October.
As regards the position in iron there IS no
cause for uncasiness, except that the vol
ume of business is too limited, prices are
low. and as stocks are light it is supposed
there i very little dead wood TO carry, so
that all that is needed is more business.
While matters look favorable enough some-
how or other the outcome does not corre-
EnOnu. or at any rate has not done so re-
Gently. The advance of IS cents per ton in
iron ores was quite surprise to many.
Those furnace men that purchased large
Quantities before the advance was inaugu-
rated were 70 be congratulated and were no
doubt well pleased with themselves.
No Reduction Looked For.
Business is still far from condition Of ac-
tivity, and there is ample room for improve
lnent, both as regards volume and prices.
There seems to be no room for further re-
lucuion in prices, at least not under the
present cost of manufacture, for there is
hardly a living profit in any line at present
figures. The increasing output of pig iron,
IN the absence of corresponding increase
in the demand is crediting some apprehen-
sion as TO the ability OF the market TO stand
the pressure; but thus far there has been no
marked developments of weakness in pig
iron that can be attributed to this cause.
As usual, the largest inquiry was for the
better grades OF pig, such as city furnace,
whose reputation are No l. Southern irons
are not fancied, in fact they have been neg
lccteu for some time. One party, who had
experimental with it at an expense of sew
er8l hundred dollars, remarked he had done
experimenting. We have heard of other
cases OF similar kind. The fact is iron that
enters into competition with Pittsburg made
iron must be OF good quality. The situation
is very similar TO last week Sales are very
much restricted, and prices show scarcely
any change.
Important to Iron Men.
The sharp advance in lake freight rates is
likely 70 firm up the ideas of furnace people
1n regard to the value OF pig iron. Wenoted
an advance last week in our report f10c per
ton, and nave now to report still further
advance. The rate from Escanaba to lesser
lake points has been soc per ton. An ad-
vance was made TO Csc, then TO 70c, and now
Il sUlll further advance has been made to
81 TO- The rate from Ashland has been CSC
and mas lately been advanced to 81 IS per
ton. This seems to be the first intimation of
~lN. III
soon begin to move, as the chartering of
vessels Tor the movement of grain has made
tonnage on the lakes scarce for the close of
Shc season.
BesseIner is shade weaker Gray forge
standard brands unchanged. Bloom and bill
lets. demand less active. Muck bar shows no
change All things considered business
shows up reasonably well