Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-06-20
The Last of June Shows a Good
Business in All Direc-
tiOnS.
THE ADVANCE WELL MAINTAINED.
Muck Bar Moves Up Higher, and Blooms
and BilletS Hold Their
Own.
GOOD FIGURES FOR OLD STEEL RAILS.
How the Observers Size Up the Situation at All Iron
CenterS.
OFFICE OF PITTsBURG DISPATCH, D

FBDAY, June l9 (
RAW IRoN AND STEEL-Tmde during the
week has been good, particularly when it is
borne nInind that we are within one week
of the LIST of July. the time for taking stock
and making necessary repairs. In former
years stocks in June were allowed to run
down so as to have limited amount on
Land during time of suspension. The fact is
stocks were unusually small in the hands of
consumers on the first of the present month,
with deficiency on hand compared with
same time last year, of 2O5OO0 tons. This, no
doubt, opened the eyes of consumers, and
caused them to enter the market and make
their arrangements for the fall trade. hence
the June sales up to date were the largest
for long time. some extending several
months in the future. The demand for gray
forge was steady, sales OF standard
brands being liberal at an advance
compared with prices that governed
the market early in the month. Prices in the
GhenangO and Nenango valleys have been
well maintained in many instances ruling
above those that governed the P1ttSburg
market. The
June Sales in the Valleys
were the largest for some time. Bessemerpig
has been the great feature in our market
Last week We noted the fact of liberal pur-
chases by large manufacturers of the raw
material. This no doubt caused consumers
to investigate the situation. The result was
large sales of Bessemer for spot, July, Au-
cust and Septelnber deliveries, and some
blocks running until January, 1892. The re-
suit of the movements was nrmer market
and an advance in prices. At the same time
there are furnaces that are holding out for
higher prices. refusing to accept the present
figures. stocks OF iron in this market are
quite limited.
SOUTHERN IRoN-There is very little de-
mand for this kind of material. We heard
OF a sale amounting to 1000 tons at prices
fully5D cents below those that governed Pitts
burg made iron. Report says number
4, of IuTna ceS Will start up in a short time.
A very conservative iron man has this to
say: Favorable reports since the first of the
month cannot be repeated at the present
time without some reserve. Business is GER
tainly very much better than it was during
the first four months of the year, and there
j. no indication that there is going to be any
serious set back, but the heavy increase in
the output of pig iron is likely to crush any
further movement toward higher prices. At
the same time there is no cause for despond-
ency. 4 largely increased demand has been
confidently anticipated, and there is nothing
TO show that these views were not well
founded
The Steel Situation.
STEEL RAILs-Trlde remains practically
unchanged. orders are coming in slowly,
with sales at the mills, f. o. b., $50. Skelp /
iron, sales were large during the week: mar
row and wide grooved advanced: sheared |
showed no change. Muck bar in fair de- 4
mand: prices maintained. Steel slabs and |
billets, liberal amount of sales being re-
ported Ak various prices. Bessemer pig, the |
advance noted in our last was maintained; |
spot very scarce. Ferro manganese, Eastern |
delivery weaker: domestic, Pittsburg, un- |
changed. Scrap material weaker. Old rail |
iron dull. Steel in better demand, particu- |
laTly long lengths.
THE LATEsT-The weeks sales show that n |
large amount OF raw iron changed hands. |
Sales OF mill iron, gray forge and Bessemer |
exceed 10000 tons. with prices fairly MAIN
tanned. BeSSemer ranges from $l6 % to
SIS %; gray fUT-re, southern, Sl3 80; standard
grades, Sl4 0Jd ! %: muck bar advancing; |
blooms and billets held firmly. The outlook
for the close OF the first six months is q
1aVoTa bic one.