Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-09-05
IRON TRADE REVIEW.
Brighter Prospects Are Indicated by
Largely Increased Sales.
FINISHED PRODUCTS MORE ACTIVE.
Raw Material Shows no Advance, But Bet
ter Trade Has Set In.
THE SITUATION AT THE IRON CENTERs
OFFICE OF PITrsBURe DIsPAruH,, T,

OFFICE OF PITTsBURe DIsPAruH,,
FRIDAY, Sept. 4.
RAW IRON AND STEEL-We have to
report a more satisfactory market, with
numerous buyers disposed to hold Of. or else
purchase sparingly. Still, sales show
up reasonably we'll On the other
hand, there are other buyers who are max
ing calculations to enter the market soon.
We heard of one large firm that made offers
to some CITY furnaces for several thousand
tons of Bessemer, but they were declined.
Iron men, without exception, report q
largely increased inquiry. This may be
termed the beginning, and business is GER
tain to follow. While the volume of busi-
ness is improving, prices have not moved up.
The stock of raw iron on hand is not large;
still buyers can obtain all they require,
provi led the price is accepted by both par
ties.
Some Furnscemen in Luck.
Several city furnaces are still out of blast,
which tends to keep down stocks and pre-
vents accumulation. Several Mahoning
and Shenango furnaces are employed on
contracts made in June and July for fall
delivery at prices ruling considerably above
those that govern the market now. OF course
these furnacemen have good thing as long
as it lasts. From all we can learn the out
look for the fall trade is considered favor
able, as stocks in the hands of consumer are
known TO be limited. and when buying COM
mences we may look out for lively times, OF
course. some q re disappointed that no def1n-
lite Improvement can be noted. In some
respects things look better, as, for instance,
the volume of business is certainly widen
ing and buyers are more inclined to bid on
round lots, although not at prices or on
terms which sellers are willing to accept.
The key to the position is money. Every
thing is wanted. but sellers are nos in
condition nor do prices warrant any busf-'
ness except on cash basis This is not
feasible TO any great extent so that until
money becomes easier business must neces-
sarily be restricted. The financial position
IS improving, but certain close observers
are Of opinion that it will be some time be-
fore there is any general relief.
Condition of the Market
Bessemer seems a little irmer. Gray
forge steady at last weeks prices. Steel
slabs and bilIets are in good demand: sales
for late deliveries show an advance; spot un-
changed. Muck bar steady, unchanged
Ferro manganese, domestic firmer. Steel
bloom and rail ends held at an advance for
October and November. Skelp iron firm and
advancing. New steel rails held firmly at
$50 OO. No. r. r. scrap held firmly at thc
advance noted. Spiegel further declined.
Steel wire rods firIner, shade higher.
THE LATEsT-Condition of the iron business
much improved, particularly for finished
products. Mills generally are well sold up,
and prices for some grades of material ad-
vanced during this week 81 50G2 90 per ton.
Raw material not showing any advance as
vet. With the present improved <lemand
prices will soon be higher. The weeks sales
were the largest for some time.