Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-05-16
Reasons Given for Improved De-
mand and Better Business at a
Not Far Distant Day.
PRODUCTION Is AWAY OFF NOW
And Manufacturers Are Stocking Only
for Immediate Wants at
All Points.
SALES NOTED SINCE LAST REPORT,
Condition of the Market at All Centers at the North
and South.
OFFICE OF PITrsBURe DISPATCH, I

OFFICE OF PITTsBURG DISPATCH,
FRIDAY, May Is {
BAR IRON AND Street.-The volume of trade
does not show up as large as for some weeks
past. Still, we see no particular reason for
complaint Confidence is being restored,
and values will soon come to the front. So
far as values are concerned, we have few
changes to record. Buyers for some weeks
have confined purchases to limited amounts
for immediate wants. OF course these sup
plies will soon be exhausted. In conversa-
tion with leading dealers, most of them
said the situation was more favorable.
Human nature is much the same all the way
through, and iron is never in such great de-
mand as when people believe il is going to be
scarce, and they are never so afraid of car
rying a stock as when prices are on the de-
cline, no matter how low the price may be.
Hence it is not easy to say whether the pres
ent movement will develop higher prices or
not However, those competent to express
an opinion, think that good arguments could
be presented to show an advance in the near
future. Let us examine the curtailment of
production. Stocks OF pig iron on hand JAN
uary l, 1891, $4,000 tons; February l. 403Oo0
tons: deficiency in stock of 1900 tons. March
l. 364 900 tons: deficiency, 80 600 tons. April !,
stocks. 800 554: deficiency, 73 446 tons. May !,
stocks, 246, ,9SS tons; deficiency, 1856 tons,
showing deficiency in pig iron during the
past four months of 1750l2 tons.
six OF the producing districts-Pittsburg,
Maryland, Virginia. Alabama, Georgia and
Standing Rock, 0hio-all show an increase,
while all other districts show a decrease.
The Eastern pig iron market is reported
both firm and active. A leading Eastern
dealer had this to say: "Tke trade is begin
ming TO feel that bottom has been touched,
and while there is some doubt in regard to
the stability of any ma5erial advance until
after midsummer, there is disposition to
buy freely Mt quoted rates. Sellers arc be-
coming very cautious, however, and in many
instances are refusing business at figures
which would have been readily accepted a
short time ago.
Iron ORE-Buyers are still inclined to hold
of awhile longer; no further transactions
reported.
STEEL RAILs-No large orders have been
taken this week; prices remain firm at $1,000
per ton at works.
The SITUATIoN-Bessemer pig not so firm
owing to limited supplies; holders refuse TO
shade prices. Gray forge, sales restricted,
but prices maintained except for Southern
brands. Steel slabs and billets not so firm;
sales show a slight decline. Muck bar,
sales show no change in values. Bloom, rail
and beam ends show slight advance. Steel
wire rods declined 80 cents per ton. Spiegel
firm: advancing Skelp iron, sheared un-
changed; narrow and wide grooved lower.
Scrap material weaker, not quotably lower.
Old iron rails are offered at decline.
LATEsT-The demand the past two days
has improved. Sales show up fairly well
and prices are maintained.