Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-06-13
A DUBIOUS OUTLOOK.
The Local Iron Market in an Uncer-
tain Condition at Present.
PREDICTIONS CANNOT BE MADE,
Although the Market Is Rather Favorable
for an Upward Turn.
MOTHER NEW STEEL MILL UNDER WAY

The present condition of the local iron
nd steel trades is considerably compli-
,rted, and this fact renders the probabilities
the future very uncertain and the imme-
ate outlook dificUltsto conjecture with
nv reasonable degree of certainty. When
refer specially to the condition of these
important industries locally, and not gener-
lily, it is in the belief that a thorough
,lnowledge of the condition hereabouts will
preclude the possibility of any eXtravagant
assertions, such as might follow an attempt
% forecast the probable condition of these
industries throughout the entire country,
hut nevertheless an almost accurate reflex
Of the condition of these trades throughout
he country can be had by closely observing
the UPS and downs of the Pittsburg barom-
ctcr.
This city is the hub around which revolves
the iron and steel trades of the Central
states, and the slightest turn exhibited in
This market finds its true reflection in nearly
all parts of the land These markets are
now surrounded and interwoyen with many
important questions, some OF which are yet
0roblcmatical. and, while q thorough
ANALYSIS might be attempted the prophecies
resulting are not certain of fulfillment, for
he reason that the basis of deduction might
possibly undergo a radical change What
he iron trade always bases it greatest hopes
.,pon for continued activity and remunera-
i've profits is on the demand, and this de-
iand must at least equal the productive
..lj5acitv of the country before its most
beneficial results will follow.
HEAVY Consumers of Iron,
The volume is always governed by nu-
,acrous and varied conditions. The rail-
roads of this country are looked upon as the
heaviest consumers of iron and steel prod
acts. The building trades are consumers of
enormous quantities Of structural material,
md the wrought iron pipe industry has of
recent wears used up nearly as much iron as
he railroads. The general jobbing trade of
he country is also a potent factor in the
,-nnSumption of iron and Steel in finished
,orms.
The condition of these trades in Europe
also affects home markets, for if there exists
a foreign demand at good prices no compe-
'ition need be feared by domestic merchants;
hut, if the demand in the foreign markets is
exceedingly depressed, then we need have
car of European competition and heavy I'M
portationS of these products, which they
an compete with us when their mar
:7ets are dull and lower and ours
mite the reverse, What the extent
r the demand from the railroads is
.-o1ng TO be depends IN a great measure
rpon the crop reports. The carrying of
rain is one Of the principal sources from
which the railroads of the country derive |
heir revenue, and the total of their revenue |
: usually measured by their carrying |
-apacity, so that it follows that enormous |
grops induce them to improve and increase |
their motive and carrying power, extend |
branch lines, lay new tracks, strengthen |
bridges, etc, all of which improvements re-
lect most beneticially on the demand and |
prices for iron.
What the crop outlook will be for 1891 is |
yet uncertain. Telegraphic reports from |
,he Western country indicate enormous |
returns from some States and restricted |
crops from other States, and, while more |
;han fair average total is expected will be |
the seasons result, yet it is too early to as |
serr positively.
Effects of Building Trades Strike.
The prolonged strike in the building |
trades everywhere throughout the country |
has undoubtedly greatly restricted the con- |
sumption of structural material In some |
sections the trouble has been amicably |
settled while in others the case is pro- |
longed: and, while it is admitted and evil |
let that the production will be this year
greatly curtailed, the probable amount can
not be guessed.
In the wrought iron pipe and general Job
bing markets d fairly bright outlook is OBJ
served by all. The demand for the former
ct present is slow, and prices are low in
sympathy with raw iron, upon which the
cost of production is based. In the latter the
demand depends To a considerable extent
upon the inquiries from agricultural
machine makers and repairers which
is governed by the crop outlook So
the volume of the demand from this
also doubtful. The speculative and money
markets of the country have also an impor-
tant influence on the iron and steel markets |
Both of the former hinge one upon the
other, and their future is a question solved
only by time. Thus it can be seen that any
clear view of the iron and steel market hori-
zon is obstructed by shifting clouds, and
their disappearance subject to the ever
changing winds of trade. Only this we feel
safe Ill predicting that prices, especially for
all grades Of pig iron and on some forms of
finished iron and steel, are not, liable to
undergo any further reduction, as they are
u present scraping the cost of production.
The entire market is il a very favorable
position for an upward turn, the present pro-
iuctiOn is comparatively light, the stocks on
hand are extremely low and prices down
away down at the bottom, and ali that is
needed TO insure an active, buoyant and
profitable market is the presence and
influence of the favorable symptoms.
Now that the coke strike has been finally
ettled the many blast furnaces throughout
he country affected by the shortage of fuel
have either resumed casting or intend do
ing so just as soon as full supply of coke
is assured.
The number Of ovens throughout the re-
zion in active operation, as estimated by
THE DISPATCH correspondent at Scottdale
Yesterday is 1900, out of a total
cf 1928. The shipments last week ex-
reeded $1,000 tons, and the amount is more
than is necessary to supply the current de-
mand. The market at present is very act
i've. Shipping facilities are in excellent
shape. The workers appear contented, and
there is not the remoteSt sign outwardly of
the late trouble.
The Condition of Blast Furnaces.
A com mparison of the condition of the
5last furnaces of the country on May and
June /, when the results were at both ex-
Jrcmes, as reported to the An1e1icdn Md,s1S-
i;Ict1Ter, will give some idea of the extent
and rapidity of the resumption of work
among the blast furnaces:
MAY ], 1881
In Blast. Out of Blast.
FUEL. ZlWeekly II n Weekly