Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-03-27
FEW BUYING ORDERS.
Consumers Purchasing Only Small
Lois of iron Now.
FOUNDRY IRON In MOST DEMAND.
But One Sale of Consequence in Steel
Rails the Past Week.
FOUNDRY IRON In MOST DEMAND.
STATE OF THE FOREIGN METAL MARKET
rrrcrAL TELEGRAM TO THE DISPATCH,


NEW YORK, March 26-The condition of
the iron and steel markets is reported as fol-
lows by the Iron Age:
American pig-It has been the subject of
some comment IN the trade and of considera-
bic disappointment TO sellers that this market
and the territory tributary to it has not devel-
oped in a more marked manner the effects of
the great restriction in the production of pig
iron. II should be noted that the reduction is
chiefly IN sections which contribute little to Gu
palos in this district, and has relieved it only
by easing the pressure in competitive terri
tory New York and New England
take very little mill iron and consume very
moderate quantities of oH-grade irons. The
supply OF the grades which this market takes
the foundry grades, is by no means large. Con-
fessedly, the Alabama furnaces make very
little of the higher grades of foundr- iron, and
certainly have little surplus of them to offer in
this market. In fact, at least one !eauIng COM
pany has filed orders lately by Withdrawing
iron from warrant yards. The result is that
there is really quite good current demand Tor
good foundry irons. As rejecting the condi.
unn Of affairs we may state that B. Z. Clarke.
c1 the Thomas Iron Company, informs US that
about two weeks since he lad made up his
mind that reduction in the price of pig iron
was in order. lie had given instructions
Saturday to bill iron TO customers
at 81 less per ton. On Monday, before
there had been time 10 act upon them, he
cOuntermanded the orders. MIR. Clarke states
thus far he has booked orders for delivery this
year aggregating about 40,OO0 tons, out of the
product of about $4,000 TO 10000 tons. We
have reason to believe that the greater part OF
the orders so booked are for mill iron and pipe
iron. He states that he sees nos reason for
reducing prices on foundry irons. long as
his customers take all his product as fast as ii
is made. The market is quiet consumers buy
.sNr from hos IN
patiug their requirements. The extreme range
on Northern brands is Sl7GlS for No. /; SIS 75
1or No . and Sl46l5 Tor gray forge. Southern
sells at Sl6 25dl7 90 for M. foundry; SIS 50Ql6
for No anu Sl4Gl5 for No. 8 according to
grade.
SpieCeleisen and ferro manganese-It has
just become generally known In the trade that
previous TO consolidation, one of the Scranton
mills bought several thousand tons of splegel-
eisen at a low price. The market may be quoted
81 5062S %. German and English In ferro
manganese the principal feature of interest is
the report that foreign makers have entered
into an agreement to hold the price for the
port trade at sll, which is equivalent TO about
Sd at which small sales have been made. Re
ports emanatIng from Pittsburg that ferro
manganese has sold as low as 500 and $50 % In
small lots at tdewaIer are uTfouuded,
Steel rails-The only sale of consequence
made during the week is one lot of l25OU tons,
which. 1t is understood has been purchased by
the Huntingdon roads at $50 at mill. There is
a small order in the market Tor New England
road, which viii be closed to-day. The market
is very duh, but the mills are frm at their
price. $50 7593l at tidewater.
Swedish Iron-Only moderate business is
being done at $50 FOR riyet rods and S62@6S tor
iobbers' specifications of bars.
Cotton ties-DomeStic mills have taken con-
tracts for several thousand tons lately. We
note asale OF 500 tons for delivery close to the
border. WeQuote 81 S5GI 40 per bundle, de-
livered at guilt ports.
Manufactured iron and steel-The only items
OF interest are now low offers of foreign beams
the Charleroi, Belgium makers Offering them
at Q 40c on deck. Business generally in struc-
tural iron and in plates is light We quote
angles, 262 l0c; sheared plates. 2G5Q2 Csc: tees,
o. 5G2 75c, and beams and channels, sole on
dock. Stee, plates are 205G2l5c for tau6, 235
az S6c for shell, and 2060207c for fiange on
uock Bars are l.07Gl U9c on dock
Rail fastenings-1he market is dull at l9O
Gl95c for spikes; l. 704lSOc for angles and 265
a.. 75c for bults.
Old rails-1be demand is light and buyers
views are considerably below those OF holders