Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-05-23
IRON TRADE REVIEW.
A,HeaEy Drop in Bessemer Has 0c-
CURED Inside of the Last 4S
Hours, Although
THE OTHER GRADES REMAIN FIRM.
Pig Iron Sales to Local Parties During the
Week Which Has Just Closed Ag-
gregate 100000 Tons.
WHY PITTSBURG YET BEATS SOUTHERN.
Reports of the Condition of the Trade From the Leading
American Centers.
OFFICE OF THE PIrrsBuRa DISPATCH. }
EpTOaU Nav %

FRIDAY, May p.
RAW IRON AND Street.-The demand for lead
ing descriptions since our last was fair but
not large. Dealers are not so anxious to in
vest as they We're short time ago,
and confidence in the future seems to be
weakening. The market is not particularly
active, although prices were fairly main
tained. 1t was reported that Bessemer for
late deliveries had been offered materially
below last weeks figures. The volume of
business does not showupas satisfactorily as
might be wished. The opinion is becoming
more general that good crops must be as
sured, and the financial position must be
clearer than it now is before there can be
the right kind of improvement. At the
same time, we are moving in that direction,
slowly, perhaps but surely.
While the production of pig iron has in
creased at some points slightly since the first
OF April, the consumption has been steadily
gaining and stocks of pig are dwindling to
limited proportions. Southern pig iron does
not appear TO be doing much good in this
section, which is easily explained: Pitts
burg-made iron can be sold cheaper in this
market than Southern, besides which our
iron IS OF q superior quality. Here is the
proof: Birmingham, Ala, gray forge, $40 80
a 90; freight to Pittsburg by rail, s. SO,
which, added to SO 80, makes Sl5 30. This is
81 per ton more than you purchase Pittsburg-
made iron of q better quality. In this cal
culation there is added nothing for Incl
dental expenses.
IRON ORE-During the present month we
reported sales to Pittsburg parties of 350,000
tons of ore. To-day we report additional
sales aggregating 100000 tons, the prices
ranging from a 50G5 ..
THE ACKNOWLEDGEMENTS pig, spot un-
changed; futures not so firm. Gray forge
1avUrIte brands steady at last weeks prices.
Steel slabs and billets weaker, not quotably
lower teTro manganese-Sales, New York
and Baltimore, 25Qj0 cents lower. Muck bar
unchanged. Bloom and beam ends % cents
lower Steel wire roGs-Sales, 25 cents de-
cine. SDiegels - In the absence of
sales prices are unchanged. Skelp
a5Tanced BIC per ponnd @ sSeared shear iTon nn
changed. New steel rails-No sales of
special note; prices unchanged. Old iron
AID steel Tails-PriceS weak, not lower.
Scrap mateTial-Dealers inclined to accept
lower prices for cer5ain kinds. Latest from
the v:Iliey-The valley furnaces remain in
the same condition as they were week ago,
two running on BaSsemer and the others on
mlls and foundry; the product of only three
ol them, however, Is sold on the market, the
balance is consumed by the makers in their
own mills and steel works. A gentleman who
Is well posted on the stock there informs
rs that there is not 2,c0o tons of Bessemer
pig in either valley, and the stock of
mill. except that owned by makers consum-
ing their product, is equally bare. The stocks
at the mills are low, as they anticipate clos
lug down jGly or earlier Tor annual repairs
and the adjustment of the scale of wages
I he mills are running fuller than they have
been, several having started up during the
week which have been idle for a short time
on account OF lack of orders This many only
be small squirt to FL the warehouses be-
fore the stOppage of July !.
TIE LATEsT-Heavy decline in Bessemer
] 5uring the past IS hours, including large
t.. nsactions. Other descriptions maintain |
prices.