Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-11-21
IRON TRADE REVIEW.
Figures OF Certain Lines Lower Than
Have Been the Rule.
THE VOLUME OF BUSINESS GOOD.
Decline in Steel BilletS, While BeSsemer
Holds Its Own.
REPORTS FROM THE LEADING CENTERS
OFFICE OF PITTS8URG DIsPLr,CH1
kRInAN Nnven her %

OFFICE OF PITrS8URG DIsPLr,CH1
FRIDAY, November 20.
Raw Iron and Steel-Trade during the
week has been reasonably active. At the
same time prices continue very unsatis-
factory, ruling at extremely low figures.
There seems to be no reasonable expiana-
tion of the lifeless condition of the iron
market for several months past Ordi
narily, with The present amount of bust
ness, there would be better prices and q
stronger market. As matters now stand
consumers buy when they are forced to it,
and then they buy Just what they want and
can use al once. In view of the low prices
prevailing producers of pig iron are not
anxious to force their prodcct upon the
market, with few exceptions. Some of
them have Withdrawn their stocks and are
refusing 10 sell at present rates, and are
piling their iron for better market, which
they contend will be found in the near
future.
The stock of pig iron on hand November
! was sos. 600 tons: stock on hand October Z
was 295, 900 tons. Increase for October 5S,-
600 tons Increase in stocks of pig iron
from July l to November ! was lis, 900
tons. The above figures show pretty con-
clusively that there is good supply of
metal on hand notwithstanding the enor-
nous consumption that is going on. The
present production is admitted on all sides
10 he the greatest on record Within the
last month several new furnaces in the
South have commenced operations, and
there is quite list of new stocks in that
region that will be ready to enter the pro-
ducing ranks before long; so that indica-
tions point to a still further increase, unless
rhe present enormous output should break
the market. At the rate at which pig is
being made the annual output will amount
10 nearly II. 600 900 net tons, while the pro-
duction last wear, the largest on record, was
only 10, 507 ops tons.
supply and Demand
Some we'll Informed parties contend that
there is not a market for all the iron thai is
now being made Stocks are steadily ac-
cumulating. The improvement in the rail
trade will no doubt help TO prevent serious
accumulation Of surplus stock A well in
formed dealer has this to say: ITO come
down to solid facts il must be affirmed that |
consumptionis is large, but that it is not equal |
TO the supply is shown bv the low prices at |
which iron can be bought, the lowest on |
record for many leading specialties Never |
theleSs, there is no feeling of discourage |
ment. neither is there any need for it. as the |
promised land is surely in sight. Ordinarily |
such conditions now prevail would be re- |
garded with dismay, but when there is an |
absolute certainty of relief within measure |
able distance little temporary incon- |
Nenience Is something that can be endured |
with at least some degree of equanimity. |
Hardly anyone in the trade looks for much |
Improvement this year.
The Latest-No improvement was per- |
ceptible in values; in fact most descriptions |
are weaker. Bessemer and gray forge sold |
at various prices. No. l foundry declined |
with sales at SIS 90, the lowest for long
time. Steel biIlets are weak and lower The |
volume Of sales shows up fairly we'll The
outlook, however, is not very encouraging.
snFI Trn