Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-12-18
NO PRESSURE AT ALL
On Well-known Brands of Foundry
Iron, Although the Market Is
STILL STEADY FOR THE SEASON.
Prices of Steel Rails Firmly Held. in Ex-
pectation of a Demand.
TILL STEADY FOR THE SEASON.
FOREIGN METAL MARKETS INACTIVE
ESPECIAL TELEGRAM TO THE DISPATCH /

ESPECIAL TELEGRAM TO THE DIsPArcH.1
New YORK, Dec. 17.-To-morrow's Iron
Aoe will treat of the weeks metal market
as follows:
American pig-As far as reported the or
ders placed with local sales agents during
the week have been unimportant, and East
ern consumers appear inclined to proceed
cautiously, now that provision for their
probable requirements during the first two
or three months of the new year has
been made There is no evidence of
any pressure of well-known brands Of
foundry for sale, and for these the
market remains steady. In the instance
of inferior foundry iron and mill grades
there is vet irregularity, however, with Or
ders solicited at previous lowest prices We
quote: Northern brands, SIG 756ls co for No.
!: SIG OO6l6 80 for No. 9, and Sl4 00ll4 80 for
gray forge. southern iron sells at sl6 Esq
Il co for No. !: SIS 50@l6 90 for No. 2; $l4 5OQ
IA IS for No. foundry, and S14 256014 80 for
gray forge. Charcoal iron holds its own,
current business being chiefly at prices on
the basis of SIS 25@lS so at tidewater for
Southern brands, and S7 at Buffalo for
Lake Superior.
No Important Orders for Rails
Steel rails-No important orders have
been placed with Eastern manufacturers
during the week under review, and condi-
tions that have heretofore stood in the way
of consummation of business under treaty
still exist. 1t is considered only a question
of time, however, when many of these
orders will have to be placed and prices are,
therefore. firmly held at $50 f. o. b., Eastern
mill, for heavy sections The last report of
the Board of Control shows shipments up
to the lst instant OF 1,01S,o00 gross tons,
standard sections and orders booked up to
the5same date for 1891 delivery amounting
to 1,1l9,OOO tons The deliveries during No
vember were, therefore. jos COO tons, while
the sales footed up TO 81 900 gross tons.
Manufactured iron and steel-New orders
have been few in number and of unimport-
ant character. Business that comes up is
sharply competed for, but not in a manner
that disturbs values greatly. We continue
10 quote: Angles, 1905. 10c; sheared plates.
1892 25c; tees. e40q2.75c. and beams ard
channels. sic on dock. Steel plates are L9@
2.lc FOR tank; 2 l5G2. SOC for shell; 24062. 65c
for fiange: 260@2.75c for marine, and 3@S.25c
for fire box on dock Bars are L79L9c on
dock. Scrap axles are Quotable at =. l5G2. zoe,
delivered. Steel axles, 215G12.25c. and links
and pins, 21592.20c; steel hoops, 2@2.5c, de-
livered.
Little Movement in Steel Billets.
Steel billets-Eastern billets have been
selling to fair extent at about S25 at mill
and S26@26 50 delivered for ordinary sorts |
and SIS delivered for high carbon. Demand |
lacks spirit, however. and the market is yet |
in rather uncertain form. Western billets |
are offered at prices on parity with those |
Spiegeleisen and ferro-manganese-Ger- |
man 20 per cent spiegel has been offered at |
S26 75 landed here without leading to busl- |
ness, and for English S27 5062S is quoted. |
Foreign ferro has very limited outlet and |
would bring little, if anything, over $62 so /
for so per cent.
Merchant steel-we quote hot-rolled shaft
ing, 2@2. .l0c: machinery, 2lO92. 25c: tire,
2.E@2.e5c, and toe chalk, 220@2.50c deliv- |
ereC.
The foreign markets, by cable. are as fol-
&4h l,ar-n -
AS Cd, but there has been very little trading, |
as the peculiar attitude of the largest hold !
ers prejudices outside interests, while the
shrinkage in conSumptive demand is also Il /
drawback. Cleveland has receded to 37s Cd |
and hematite to AS SID, with fair business |
at the decline. Stocks in warrant stores /,
have increased of late and now include
sol 900 tons Scotch and l53 900 tons Cleveland.
Little Change in Pig Tin.
Pig tin declined early in the week to EGO IS,
under pressure of realizations, but has
since improved to the extent OF 15s without.
however, any activity. The general situa-
tion here is much the same as it was last
week.
Cooper prices have ruled lower un der the
OF free offerings from America, |
restricted demand from home consumers
and unfavorable reports as to the condition
of the American market The downward |
of prices was, however, arrested
by revival of speculative purchases to fair
amount and better inquiry from India.
There has again been n very fair business |
in tin plate, including good lines of oil cam
ners' sizes, but at prices that leave the
sellers little or no profit. Several parcels of
l4N2O Bessemer coke were offered at l2S in
Wales for the finding buyers. Ternes are
quieter, makers having advanced prices of
doubles paid. There Is quite a large inquiry
for black plates Stocks at British shipping
ports about 2a6 600 boxes, against 333, 600
held year ago.
Steel ship plates are in brisloer demand i
and the market is firmer, with makers quot
ing &C IS at Barrow. Latest sales of war
rants We're at As 81 for scotch, SIS I'D Tor
as Sd for hemauite.