Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-11-06
NOT ANY TOO BRIGHT
Are the Immediate Prospects in the
Iron and Steel Market.
THE SCARCITY OF CARS is FELT
BY Southern Companies That Are Reported
Having Sold Up Well.
NO STEEL RAIL SALES OF IMPORTANCE
rsprcrAJ TELEGRAM TO TIE DIsPArcHl

reprcrAr TELEGRAM TO TIE DIsPATcH.I
New YORK, Nov. 5.-The following is
the weeks review of the iron and steel mar
ket. to be published in the Iron Age to-mor-
row:
Amer1can Pig-The report of Southern
furnace companies is that they are pretty
well sold up, and that considerable difficulty
IS being experienced through the scarcity of
cars. This IS the trouble experienced when
cotton begi IS tor move. WeQuote: Northern
brands, SIG 756ls % for No. l. sic OO@l6 sc for
No. and Sl4 0O@l4 80 for gray forge; South
ern iron sells at SIG e5dI7 90 for No. l, SIS 500
l6 90 for No. .. sl4 59S1l4 75 for No. foundry
and sl4 e5Gl4 30 for gray forge.
Spie.-,Iesen and Ferro- -Manganese-The
spiegot market continues exceedingly duh,
and is nominal. In ferro-manganese there is
considerable irregularitv, and only moder-
ate business is being done. We quote: Ten
TO L per cen. S23 00G124 90: 90 per cent. s27 90
as o. and so per cent ferro, S62 G066S co.
Billets and Rods-There have been some
. sales of domestic rods, but no business is re-
ported eithe" in foreign rods or in foreign
billets. We quote: Domestic biilets, s27 006
% 30 delivered: foreign billets nominailr
SSl 0eM5l So and domestic rods, S35 50G)31 so
tidewat;sr.
On;5 Small! Sales of Steel Rails.
Steel Rails-No sales of any consequence
are reported in This market. 1t is not def
initely known here who has secured the or
der for 5000 tons of l00-pound rails for the
Pennsylvania Company, for which bids were
asked recently. 1t is hoped by those inter-
ested in the steel trade that the Pennsylva-
mia Railroad will soon call for its require
ments for 1892 Usually the purchase by this
company is the signal for buying by many
other lines, and it is believed that the COM
panv will not repeat this year its method
pursued lately of holding off for long time
and hnEipu in relatively small A
very important share of its tonnage is that
originating with the rail mills on its line,
and it would seem the duty as well as the in
terest of the company TO give the mills all
the benefits which helpful action can confer
upon them. Prices remain unchanged at
$50 00630 30 at mill. Since some misappre-
hensioG might arise from It, we may note
that lot of about 00o tons of 81 pound steel
rails, rolled years since ut Troy for n New
England road, are being offered at S2S so tide
water. We understand that these rails
for the ontario and Western section. The
rails have never been in the track.
Manufactured Iron and Steel-Tne princ-
pal event OF the,week has been the placing
ola contract with one of the large archi-
tecturnl works of this city for the irorworl>
of the Worthen building, which is to tax; $50
tons # foreign beams. American sections.
There are two largc structures which are
soon to come into the market, and which are
expected to take about 5000 to 6,00J tons of
material The plate market continues de-
moralized. We continue to quote Angles,
ls092 l0c; sheared plates, 1902 &c: tees,
e.40602 275c,Sand beams and channels sic on
docS. steel plates are 1850. .l5c fer tank;
e.2eGl25oc for shell: e.45d2 65 for t1ange: 26560
2.15c for marine, and 3@lS25c for fire box, on
dock. Bars are l7GL9c on dock. Scrap
aNles are quotable at 2.15G2.2Oc delivered
Steel aNles. 2.l5G2 25c, and links and pins,
2.l5I2.s0c.
An Eagerness for Business.
Track Neutrality-suspicious. have not
materially changed during the week, some
OF the leading mills still being eager for
business in fish plates. We quote 2.15@2 25a
Tor spikes, LOG l.Goc for fish plates and 2.Se4
Sc FOR bolts, delivered.
Merchant Steel-We quote hot-rolled shaft
ing 2@2 Zoe; machinery. 2l0@a 25c: tire, . l56
2.a5c and toe calk e.20@2- SOC delivered
British Iron and Metal Mar1ets-Tne mar
ket for pig iron warrants has been steadier
and rather more active. RunorS that the
syndicate holding large amount of Scotch
waI1an-S was on the verge of breaking up
had a somewhat depressing effect early IN
the week, but subsequently denials impaired
confidence and ST. engtnened the market,
while large turnover of hematites pro-
lnoted a better feeling in that line Stocks
in Connai's stores remain almost stationary,
the latest returns showing $4,000 tons
Scotch and l47,G00 tons Cleveland. Latest
sales of warrants were at AIS 6d@47s I'd for
Scotch, SSs 9d@S9s for Cleveland, and 49s for
hemafite.
Pig tin has ruled lower, partly under the
influence of the decline in copper, but
chiefly under the weight of sales of cash
lots, caused by the failure of n prominent
OpCT3btG anu Tue announcements OF nedNN
shipments from the Straits. Outside specu-
lative interest has been light and dealings
were chiefly in liquidation of outstanding
obligations. 1t is understood that the con-
tracts of the suspended operator have been
closed out, and the large quantity of tin
turned over has passed into strong hands.
This, along with good trade demand, has
impaired a somewhat better feeling.
Copper Rises and Falls.
Copper prices advanced somewhat early
in the week, but subsequently reacted, leav-
ing the market in unsettled condition. The
recent decline is not, in the opinion of we'll
Informed authorities, justified by the actual
position. although spot stocks are shown to
have increased GIG tons and the European
visible supply 21!5 tons during the past
month. Chile charters during October es-
timated at 1000 tons Transactions in fur
mace material include $50 tons Anaconda
matte at l05 per unit, and $50 tons Montana
aIfgentiferouS on private terms.
The tin plate market has been quiet, and
absence of Improvement in orders from
America tends to create a weaker feeling,
since the demand from other quarters is
hardly up to the average at present. Some
makers are yielding on prices and have
quoted as low as 12s I'D for ordinary
Bessemers for early delivery.
The Metal Markets.