Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-09-19
IRON TRADE REVIEW.
The Sales of Raw Material Liberal,
and Prices Are Maintained.
BESSENER SEEMS SHADE FIRMER
The Demand for Skelp Iron Is Active, With
an Upward Tendency.
REPORTS FROM THE LEADING CENTERS
OFFICE OF PTTTsBURG DIsPATCH,l
FR-DAY, Sept. lS

OFFICE OF PIrTsBURG DISPATCH
FRIDAY, Sept. Is.
Raw iron and Steel Trade-Business dur
ing the week shows up reasonably well, all
things taken into consideration. 1t was
confidently expected that the iron trade
would exhibit a considerable amount of
activity before the middle of September.
When this prediction was entertained we
we're all in the dark in regard to events that
have since transpired, within short period,
that have set business men thinking and to
exclaim what will happen next? The iron
embarrassment during the week was to a
certain extent unexpected, and from state
ments made by the firm will not be a seri-
ous affair. The works are still in operation
and Will be continued, as it looks at this
time as il the firm would be granted all the
time required to put the matter in the
proper shape. After this is accomplished
the firm expects to have a good sized balance
or the right side of the ledger
All that is now wanted to start business is
confidence: that once estat lished, trade viii
start Up and make the last quarter of 1881 the
best Ot the year Prices show no improve
ment. We continue to hear of certain de-
sCrinrions at low prices, while standard and
lfavorite brands show no decline in value.
Some of our city furnaces are well sold up,
while Others are still open for business. one
furnace company sold 200 tons OF Bessemer
and gray forge: this will keep them busy for
some time to come.
The Large Output.
There is one thing that should be taken
into consideratiun-that the output is get
ting TO be pretty close to the largest on
record, so that the increased supply has
been cuite in proportion to the increased de-
IT,
SHOW signs of Improvement. A well-in-
formed iron man has 5his to say: "While
there is no change in prices the tendency is
toward slightly higher prices. Sellers have
no difficulty in placing iron At prices recent
" ruling. This statement includes
prices. But there is an ample
supply for those who are willing TO meet
holders ideas, which is about % cents ad-
vance on figures recently ruling. Those
who made trifiing concessions do SO no
longer, while Others who are feeding out
their holdings reluctantly now firmly de-
naEd more money. This is an encouraging
feature considering that the output is al
most threr-quarterS of u million per month,
and Will doubtless be more than that before
the close of the year
In the Finished Products.
The improvement previously noted con-
tinucs. Mills are generally well sold up, while
the advance previously noted has been
lnGlltllNtti-
The situation remains as follows: Besse-
mcr shows fair transactions at last weeks
figures: Valley Bessemer sold on ears at fur
mace. So 90 cash: this would be equal to
SIS 20 PiuSbur- Gray forge-Sales moder-
ate, prices maintained. Steel slabs and bill
letS-Pric weak: not quoted lower. Muck
bar weak: not quotably lower. Steel wire
TOds-Prices are maintained. Skelp iron
Narrow and wide grooVed advanced:
shcarcd declined cents. Spiegel-Twenty
per cent declined: I0xl2 per cent unchanged
Zero naugansse-Prices for domestic un-
changed
The LI.test-Slles reported for the week
show that liberal lots OF iron changed hands.
Prices, however, show scarcely any change
the condition is certainly surprise to
most Of the iron men, as at this time of year
business generally is much better and indi-
cations strong Tor large fall trade, but this
year So lar but little Improvement is noted
and few Indications are perceptiblc. The
only hope seems to lee for the future is that
the least expected sometimes happens.