Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-11-20
NO IMPROVEMENT YET
In the Condition of the Metal Market,
and There Is None in Sight
A SALE OF PIG IRON on TRUST.
From North and South the Same Reports
Are New Coming in.
A SALE OF PIG IRON on TRUST.
FEW CHANGES IN FOREIGN FIGURES

-erFcrAI TELEGRAM TO TIE DrsPArCH-r
New YORK. Nov. 19-The Iron Age for
tomorrow reports the New York iron and
steel markets as follows:
American Pig-As indicating the position
of the leading producer for this market we
NAV note that the Thomas Iron Company
has this week sold . 900 tons of foundry iron
10 consumer at n price to he determined
later on. Mr.. Clarke, President of the COM
pany states, however, that he has %uaran-
teed that there shall be no advance above
the price now ruling. Southern agents re-
por: the market very dull. We quote North
ern brands SIC 15@1ls 90 for No. l; SIG 00Gl6 30
for No. =, and Sl4 006i4 30 for gray forge
Southern iron sells at Sl6 25aI IL co for Nc. l.
sl5 J0Gl6 10 for Mr. .. and Sl4 500 4 75 for No.
) 5foundry, and s4 256li 30 for gray forge.
Spie2eleisrn and ferro- -Manganese-1n all
mangaDiferous material the market is very
dull. Consumers have been filled up with
terro-manganese before the combination
was broken. and in some cases deliveries on
contracts then made are being settled for at
present quotations. We quote 10 to l2 per
cent. S23 0a9e4 60: 20 per cent, ss7 0o@2s 00,
and so per cent ttrro, S62 Go@16S 20.
Billet and Rod Market Lite;ess.
Billets and Rods-The market is nieless,
no transactions of any consequence having
been closed in this section, while Pittsburg
drags along on a S24 basis for 4inch ordinary
hillets. We quote: Domestic billets, $a7 GO6
p 50 delivered: foreign bilets nominaity
SSl 00dSl so, and domestic rods, $50 50@S7 so
tidewater.
steel Rails-In the East business has been
very quiet during the past week. no tran
sactions of magnitude having been closed.
There is some inquiry and some negotiations
are pending, but there is not much prospect
of booking heavy orders in the immediate
future. The market, however, has been very
active in the West; A representative OF one
of the large mills figures up that in the past
two weeks the Western mills have closed for
about lI5 900 tons, winter and spring de-
livery. the quantity stated not in
cludIng the Pennsylvania order Even
running at record rate, this would amount
to three months rolling for the two
great mills. We understand that practically
all of these orders are for renewal work,
that the requirements for extensions have
not vet appeared in the market The No
rember report of the Board CT Control shows
shipments up to the lst instant OF 500 9S6
gross tons. standard sections, and orders
booked up to the same date for 1891 delivery,
amounting to 1062 07S tons. The deliveries
during October were. therefore 100, 030 tons,
while the sales footed up to s5, $50 gross tons.
Quotations remain steady at $50 00G3O 80 at
Eastean MILL standard sections.
Nothing Big in Manufactured Goods.
Manufactured Iron and Steel-Onlya mod
crate amount of new work is coming for
ward. During the week the smaller power
house of the Broadway cable road has been
placed. The larger house will soon be con-
tracted for, and is expected to require
eral thousand tons OF iron work The plate
market continues in a very unsatisfactory
condition, with reports of low prices. 1t
Is reported that the plates for a
a very low figure. We continue TO quote:
Angles, lso602.lOc: sheared plates, Ls512 CSC:
tees, 4o@2 75c. and beams and channels, 3. lc
on dock. steel plates are L&d2. lc fer tank.
DOC Tor marine and 3@l5 25c for fire box on
dock. Bars are l7GL9r on dock. Scrap
aSles are quofah;e at , l5G52 20c delivered.
steel axles, 2.l5@22 25c, ana links and pins,
= l5lI2 20c.
Track Material-we quote 2I5aa 25c for
spikes, Log -Sac for fishp!ates. and a.S093c
for bolts delivered.
Merchant Steel-We quote hof-rolIed
sha itin aG2.l0e; machinery. l062 25c: tire
.. l592.2jc, and toe calk, 2.20025o delivered.
old iron rails: there is no stock Offering and
little demand, with quota ations nominaIly ut
$50 ocG2l 90. Low sales in the Mahoning
Valley recently cut off the Western market
completely. In old steel rails business is
light, and very low prices are numed as
those which might tempt buyers. The views
OF the latter Go not seem to be above $I4 90
GI5 co.
No Decided Change Abroad.
The foreign iron and metal markets are
reported by special cable from London as
follows: The situation in the pig iron mar
ket is without decided change Hematite
warrants are receiving more attention, but
Scotch and Cleveland are traded in very in
differently, and the demand for makers
brands dIags wearilv, although favorable
reports to sales of several descriptions of
finished iron are still given. Stocks in war
rant stores include 499 600 tons Scotch and
10000 tons Cleveland. Latest sales OF war
rants were at AS for Scotch, 3Ss 41Sd6I3SS Sd
for Cleveland, and ASS Il for hematite Lib
eral buying, in part for speculative account
caused an adva nee of SOS in the price of pig
tln..prompt delivery selling at f9l l2s Cd. At
the advance the demand slackened, how
ever, and in the absence of support from
previous conspicuous buyers. prices receded
5,d7s Cd from the highest point despite the
announcement that shipments from the
Straits during the first half month were
only 500 tons.
Copper prices have flactuated within mar
row limits and the market is steadier
There is now very little pressure to sell, and |
lower prices are attracting fresh purchases |
for speculative account and for consump-
tinn. Europeon spot stocks have increased |
l.ai1 tons and the visible supply 500 tons dur |
ing the past fortnight. Chile charters dur
ing the first half of the month were $50 tbns
The tin plate market remains quiet, and |
no improvement is looked for until Ameri- |
can stocks show signs of more rapid depla-