Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-02-06
PRICES RULING LOW.
Light Purchases the Present Rule in
the Pig Iron Market.
FAIR BUSINESS In OTHER LINES.
A Big Order That Is Expected to Boom the
Steel Rail Market.
STATE OF FOREIGN METAL MARKETS

ESPECIAL TELEGRAM TO THE DIsPATcH.l
NEW YORK, Feb. 5.-The Iron Ages re-
port of the iron and steel markets is as fol-
lows:
In American pig current business con-
tinues light, buyers rarely purchasing be-
yond March and April delivery. Prices
continue low. Product in the territory
tributary 10 this market is apparently not
falling of to any considerable extent, ana
the resumption of work at number of Ala
bama furnaces is increasing the offerings,
although the character OF the trades is not
suitable for this market. WeQuote Northern
No l foundry sl6 75@sl7 SO: No. 2, SIS 75@
Sl6 so; forge, Sl4 25GSl5 90; tidewater and
Southern iron, SIS 5O6Sl6 90 for No. ,, with low
offerings No. soft.
Spiegeieisen and ferro manganese-The long
spell of inactivity has been at last broken in
spiegeleisen by the purchase by an Eastern
PENNSYLVANIA steel mill of several thousand
tons Of 10 per cent and Is per cent at private
terms. In ferro-manganese the foreign market
is weak, makers who have been holding off for
long time asking for orders. We continue to
quote SCI 50a62
Billcts and rnds-A new Eastern rod mill is
reported to have purchased a block of 2Oo0
of billetS. Rods are quiet, maintaining
the advance recently established. We quote
SIS % at Eastern mill.
Steel rRils-There is some complaint that
while the mills asking $50 at works. second
hand lots are being offered at lower figures The
railroads are holding off. practically no sales
being reported by Eastern mills, while from the
West come reports of sales delivered in Colo
radO At S33 80. The agreement of tho rail
makers has been signed 10y all Of them. and it is
expected to go into effect this week, as soon as
The consolidation OF the Scranton mills is rati-
fed. The meeting of of the companies
WAS hclu on Monday and that of the other will
take place later in the week. The Pennsylvania
order, which is variouSly estimated at Al. GOO 10
6luj0 tons. has not yet come into the market,
although :: will probably be placed soon. Gen.
orally, that event is the signal for extensive
buying by other roads.
Manufactured Iron and Steel-There is quite
fair run OF business, but prices continue very
low and unsatisfactory. A large building con-
tract viii be placed this week and the bids are
going in for considerable quantity of new ele-
waited work. 1t is reported that the last of this
character was taken at S29C. erected. The local
trade is watching with good deal of interest
the movement for increased rapid transit facil-
ties. One of the plans for tunnels would call
Tor an enormous amount OF cast Iron work In
bars We note the appearance of California or
utTS. Plates continue very irregular and low.
We quote: Angles. 2Q2 l0c: sheared plates,
2lC@225c: tees. 25@2. 75c. and beams and chan
I.els. Sic on dock. steel plates are 210602 Soc
for tank. 2492 &c for SHE'LL and case for tianCe
on dock. Bars are l.76l9c on dock.
Old Rais-The market is extremely dull. We
hear Of only one very small sale at a shade I'M
der the nominal quotation, which is S22Q22 50
Tor American tees.