Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-07-18
1891, July IL


4 The above figures tell the story. Prices al
Jpresent, as shown by comparison, are re
\ markably low, which may account. for sales
being so liberal. Just think of it. Bessemer
Epig being sold at So 10 per ton decline COM
ipared with July, 1890: gray forge, 81 so; bill
:lets and slabs, - OO@4 50; muck bar, 81 so;
lferro manganese IS 90 lower, and steel wire
rods at S. 90 decline.
The stock of standard irons is by no means
large; city furnaces are well sold up and are
Showing no particular anxiety TO sell. Com
pared with previous years the July sales are
far in excess of any previous year, notwith-
standing the fact that a large number of
mills are taking stock and making repairs.
lone fact seems evident: buyers would
scarcely make such liberal purchases unless
their minds were made up that the present
was the most desira BILE time to purchase for
the fall and winter trade. Our iron men are
credited with being pretty wide awake, and
tthis NAV have something to do with the
large amount of iron and steel that has been
disposed of during the past two months.
Prices Firm and the Dizziness Temporary.
A well-informed Eastern iron man had
this to say: prices are generally firm, not
withstanding the limited volume of bust
mess as the dullness is but temporary and
usual at this time of year. Consumers of
both crude and finished irons are buying
only in a small way, and there is no
mace and mill operators to force business.
The trade is generally in a healthy condition;
and is not suffering from the present dull
ness. 4 few of the Pennsylvania mills, east
Ofthe Alleghenies have signed the new scale
and have resumed operations, but the
majority of manufacturers are still opposed
to such course"
There is nothing to show that stocks are
especially burdensome as yet but If the de-
mand should start up, many predict, it
should pretty well absorb the present out
put. This seems to be In conformity with
sellers ideas, as they have made no i'm
pOrtant concessions thus far and are not
likely to do so until the outlook is of a more
decided character than at present. The next
two weeks are expected to develop some
thing definite.
time past. In order to effect sales, prices
have to be materially shaded. Shenango and
Mahoning Valley iron is held firmly, prices
being well maintained.
An Old Firm Winding Up.
The iron firm of Nimick & Co. have de-
cided to wind up their affairs and quit busi-
ness. This firm was the successorto Michael
Allen, the first pig iron merchant that oper-
ated in Pittsburg. He was a commission
merchant on Water street and was agent for
all the Hanging Rock furnaces which iron
was brought to Pittsburg by water. At one
time their iron business annually exceeded
a. .O00, 600. The Monongahela wharf often Coz
tained many thousand tons of iron from
tlat district.
( THE LATEsr-Bessemer pig off 25 cents per
BON with fair demand. Gray forge, sales fair
at last weeks figures. Blooms and billets
ehow up fairly well. Muck bar, no falling
of in demand. Old steel rails. long lengths
In fair demand and prices maintained.
kkelp iron, sales liberal. Ferro manganese,
domestic steady at last weeks figures.
Scrap material weaker. and buyers offering
lower figures