Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-05-08
BUSINESS IS SMALL
In the Pig Iron Market, in Spite Of
the Light Production.
EASTERN STEEL RAIL PURCHASES.
Much Comment on Heavy Reflections Of
Pittsburg Billets.
STATE OF THE FOREIGN METAL MARKETS
ESPECIAL rELEeRAx TO THE prspArcH. /,

ESPECIAL TELEGRAM TO THE DIsPATcH.t
NEW YORK, May THE condition of the
iron and steel markets of the country is re-
ported as follows by the Iron Age:
American PIg-Current business is small,
buyers acting in a very conservative manner.
Prices continue without Improvement In spite
of the light production in all parts of the coun-
try. An interesting recent transaction is the
sale by furnace on the Hudson river, OF 5000
tons of Bessemer pig to the Connecticut Malle-
able Iron Works. at private terms. Northern
brands are quoted at sl7@lS for No. l; Sl6@l6 so
for No. 2, and Sl4Ql4 80 for gray forge. South
ern iron sells at SIG 5OGl7 % for No. 1; sl5 500
16 Is for No. 2 and sl49l4 SO for gray forge.
The burning of the engine house of the Troy
Iron and Steel Company is expected to lead
to outside purchases OF Bessemer pig. The two
furnaces in blast were making about 10. 600 tons
of pig in a month.
Spiegeleisen and Ferro Manganese - In
porters claim that prices have been considerably
advanced abroad, the German works declining to
name figures on account of troubles in the coal
trade, while the English makers ask SIS, which
makes the cost considerably above recent
nominal quotations. In the absence of any de-
mand whatever in this country little interest is
shown in the matter. Ferro manganese is dull
at S6S 50964 o.
Billets and Rods-There has been little busi-
ness in domestic billets, which we quote at
S27 50@2S delivered. We note, however, that
some of the leading mills quote considerably
ABOVE TINS. linus one mill asked Tor price oD
.35 carbon billets of somewhat unusual form,
asked S32 so at mill, while another demanded
S36. There has been considerable comment
lately on the heavy rejection some time since.
East and West, of billets made by a very prom.
inent Pittsburg mill In some cases the billets
have been taken after a heavy allowance had
been made. In others they were rejected aoso-
lutely and had to be replaced. We are informed
that the concern in question has acted in the
most liberal manner IN the matter and that the
trouble first experienced has been overcome.
Wire rods are dull at SSSG3S so at MILL The
Troy Steel and Iron Company inform us that
the fre at the furnaces will cause no withdraw
al from the steel market.
Steel Rails-Ihe most interesting feature Of
the week has been the rumor that an order for
1000 tons Of rails has been taken by an Eastern
works, which mas not rolled any rails for some
years, and which is not a member of the asso-
clation. The purchaser is reported to be
New \ ork road. We note also, that an Eastern
road has availed itself Of an earlier option TO
take 1000 tons. and that an Eastern mill re-
ports the sale Of a 2,000-ton lot. Quotations re-
Pittsburg, and SSl at Chicago.
han FaStenings-The spike manufacturers
were unable to agree at their meeting In this
city last week, the opinions being divided as 10
apparently not believing in the possibility OF
holding at such figure. We quote: hshplates,
L70dLl7C, delivered; bolts, 2b5Gp2 76c, and
spikes 81 p0fDl g5
Manufactured Iron and steel-Earlier in the
woek two contracts Of magnitude for buildings
were closed, but since then the strike OF tho
houseumiths has brought current local trade to
practical standstill. Prices remain low We
quote angles, lg5n2 l0c; sheared plates. .2p2 25c;
tees. 24bd2.Ibc, aud beams and channels, ale,
on dock. Steel plates are 2fp2 loo for tank, 2B
G2Bo for shell. and 2.bQ2.7o for hango, on dock.
Bars are L7dl.pe. on dock.
Old Mateiial-Old rails remain stagnant, only
q small sale Of American tees being reported at
y2l 76.