Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-06-26
A WEEK OF DULLNESS
Reported in Pretty Much All Branches
of the Iron Trade.
A BIG SOFT STEEL ASSOCIATION
Is Now Talked of to Tlace the Trade in Bet
ter Condition.
STATE OF FOREIGN METAL MARKETS

rsrFC1AL TELEGRAM TO THE DIsPATcE.l
NEW YORK, June 25.-The Iron Agc reports
the condition of the iron and steel markets
as follows:
American Pig-The situation has not
changed materially during the past week,
although there is some pressure to sell on
the part of the nearby futures. The fur
naces of the Lehigh Valley have benefited
to some extent by the lowering of the cost
of lake ores. n-Bessemers have been pur-
chased at a figure which makes the cost 8
cents q anti at furnaces in the valley. North
ern brands are quoted at SIG 00@l6 70 for No.
!; SIS OG8l6 so for No. q and sl4 Oo9l4 20 for
gray forge. Southern irons sell at $l6 256
J. - for No. l; SIS 50Gl6 25 for No. 2; SIS 75@
Is 50 for No. soft, and Sl4 0O@l4 so for gray
forge.
Spiegeleisen and Ferro Manganese-A
large Western works is now offering 30 per
cent spIegeleisen at $29 delivered at buyers
works IN Eastern Pennsylvania. There are
1uTnorS @: sales of foreign spiegeL Ferro
manganese is quiet at S64 00664 so.
Billets and Rods-Eastern mills have
bought some domestic and some foreign
billcts the former including one block of 5000
tons OF soft billeto for three months delivery.
ContraC .ctory repor.s come from the West.
While it is stated that $24 so has been &C
cepted for years contract from July to
July, it is unquestionably true that a lead
lug PittSburg seller has Withdrawn S25 and
is now asking S26 There is movement on
loot 70 place the whole soft steel trade
on a better footing. So far as we can learn
the aim il to organize an association similar
in its scope and in its methods to the Rail
Association, in order to carry the price up
TO $50 ard distribute the territory. One rail
mill has already agreed to sign an agree
mcnt not to make soft billets. 4 further
heavy movement i'll wire rods is reported
from the West. 1t is stated that the stock of
wire nails has been very rapidly absor bed,
and that the trade in barbed wire keeps up
remarkably well for the season. So far as
the export wire trade is concerned, the eX-
DiratiOn of the barb-wire patents will throw
open to American makers the Australian
market. which was reserved to the English
and German licenses.
steel RailS-The largest order placed during
the week with Eastern mills was one lot of
600 tons for Savannah delivery. The
market continues exceedingly dull, and 1t is
not expected that there will be any marked
activity during the next month. We con-
tinue to quote $50 75@3l 90 at tidewater
Rail FaStenings-We continue to quote fish
plates L706l. 75c; bolts, 2,60@2 65c and spikes,
! 90Tl CSC, delivered. Manufactured iron and
stell-The mills in this vicinity are still
pushed to provide for work delayed during
the strike. The inquiry for new work is
moderate. We quote angles 1902 l0c:sheared
plates, l95G2.25c; tees, 245@2.75c, and beams
snd channels sic on dock: steel plates are
262. l5c for tank. 2.3026c for shell, and 25@
. &c for fiange on dock; bars are L6@L9c on
dock.
swedish Iron-The market is weak; we
quote rivet rods at S55956 and bars Western
specifications, at $64@65 at tidewater. :.