Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-06-27
The June Sales Of Raw Iron Eclipse
All Previous Records In
PittSburg,
MARKET STEADY AT FAIR PRICES.
Liberal Demand for Billets, Slabs and
Muck Bar, and Large Sales
of Skelp.
THE OUTLOOK REGARDED FAVORABLE.
Condition Of Trade at All the Cente Up to the Close
Yesterday.
En1nIH Lima 0G 1


FRIDAY, June &c.
RAW IRoN AND STEEL-The business done in
iron and steel for the month of June was re-
markable in more ways than one. In the
first place the sales were the largest ever
made, during June, in the history OF the
trade. In another part of this report will be
found figures for this statement. in former
years dealers generally postponed purchas-
ing untl after July stock taking, bat not so
this wear BUYERS, for reasons no doubt
satisfactory to themselves, particularly dur
ing the past two weeks, purchased several
large blocks of Dessemer for present and
future delivery at materially higher figures
than prevailed earlier in the month. There
must Ire n reason for this movement, other
wise sales would not have been so liberal.
Thismovement was not confined TO Pittsburg
alone. The Mahoning and Shenango Valleys,
and other points from which Pittsburg
sometimes obtains supplies, have been do
ing large business and are undoubtedly
well pleased with the situation and outlook.
The stock of iron for sale here is not a largo
one; in flct, certain furnaces seem 1ndif-
Ierent about disposing OF their stocks at
present. This certainly shows confidencei in
the future.
The Cloud Not Very Dark.
Tho new scale of wages adopted by the
Amalcamated Association is in the main
y
apparently insignificant stipulations which
have been inserted promise to give consid-
era5le trouble A wcll-informed party has
this to say: Probably the most serious OBJ
staclc in the way OF Improvement is the fear
of a tight money market during the fall
months. This is shown in the limited de-
nland for rails and other equipments. Pros
poets were never more favorable for
Il large carrying business, as abundant
crops are now assured, and many
for rolling stock than at present.
vet orders are held back because of the
Scarcity OF c;IsIr the difficulty of securing
favorable terms of credit This will be
overcome intimately, but in the meantime
how are the immense CROPS to be moved and
paid ior unless money becomes easier?'
IN the Mahoning and Shenango Valleys
the blast furnaces are nearly all active.
Two or three out OF blast expect to resume
a. soon as stock is received and q few minor
details are arranged. They are nearly all
pretty well sold up for the summer months.
The price OF gray forge is not as strong rs it
was a week ago. This is owing to the fact
chat the mills will shut down for short pc
Tiod July / 10 take stock and adjust the
scale Of wages for the coming year When
thcSe matters are completed an active de-
mand and improvement in prices Of all
kinds OF raw material, it is predicted, will
soon take place.
Manufactured Iron SITTER.
Manufactured iron is more active than for
some time past. This may especially be
said OF sheet of all kinds. Prices are in con-
sequence sitter.
The LATEsT-Market steady, with good
trade demand. The sales of Bessemer con-
tinue very large, with prices fairly main
tanned Gray forge and mill sales show that
consumers are taking hold freely. Steel
slabs and billets are attracting a fair amount
OF attcnti ton. Muck bar held firmly. The
outlook, when the season of the year is /!
taken into consideration, is certainly favor |
ahle