Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-09-12
IRON TRADE REVIEW.
The Demand for the Raw Material Is
Now Active, With Sales
SHOWING Up WELL IN VOLUME.
The Outlook for the Fall Trade Is Con-
Stantly Improving.
REPORTS FROM THE LEADING CENTERS
OFFICE oF PITTSBURG DIsPATCH,l
FRTDAy SeDtamber IL

OFFICE OF PITTsBURG DIsPArcH,l
FRIDAY, September IL. {
RAW IRON AND STEEL-The market since
our last shows evidence OF a better feeling
together With an improved demand in most
branches of the iron trade. Finished prod
ucys are in good demand; the advance pre-
viously noted has been maintained. In
conversation with Valley furnaceman he
remarked: ''TTadc continuesactive. Most
of the furnaces will be employed for some
time on orders previously booked. While
prices are not what we would like to see,
still We don't hear much complaint. Besse-
mer iron has been soold for some time to
come" The stock of iron in the hands of
consumers is not large. Many of them pur-
chase limited amounts, sufficient to run
them for short time, In expectation that
prices will be lower Ivy the time the stock
on hand has been consumed.
May Wait Too Long.
Unless all signs fail, If they wait too long
they will discover that mistake has
been made. The transactions reported be-
low show there is more business doing,
also increased confidence, but for the pres
enu We have but little improvement in
prices to record. What Is wanted ana wnat
Is the first preliminary to better prices, is an
abundance of business That point has not
yet been reached to any considerable eX-
tent. Still q the same time, we are steadily
gaining in that direction Meanwhile the
outlook is in every respect favorable and
there l. no risk in saying that the lowest
prices have beer reached and that the ulti-
mate outcome must be general advance on
most descriptions OF raw iron. Holders are
beginning to lie more conservative, how
ever, and with many il is beginning to be
not altogether Il question OF getting out, but
At something
rurn over. At prices recently accepted it is
declared, by some makers who are well
versed in snch matters. that first cost in
some instances has not been realized, that
even medium quotations do little more than
let makers out whole.
Condition of the Trade.
Bessemer shows liberal transactions, with
no material change in values: future deliv-
cry sold at low figures. Gray forge demand
fair, sales moderate; prices for favorite
brands are well maintained; for late deliv-
cries au advance is wanted: prices in the
Mahoning and Shenango valleys are fully
as high as those that govern the Pittsburg
market. Steel slabs and billets are in good
demand: sales show up well, several sales
being for future delivery, city furnaces do
Ing the principal business. Muck bar WAS in
mOdcra c demand at rates current mt date oI
last report. FerrO manganese weaker, with
sales al a slight decline. Steel wire rods,
prices on the down grade; sales s. cents be-
low l2SJ week. Shelp iron, demand ana
sales liberal: sheared advanced cents: wide
ErOOvcd and narrow grooved declined 81
cents. No. r. Il. scrap firm: the advance
noted previously maintained: other kinds
scrap material dull, neglected. Old iron
rails scarce, being held firmly; old steel rails,
long lengths, nnd ready sales at current
rates.
IHE LATEsT-Trade during the week has
been active: Il liberal amount o: raw iron
changed hands: the demand fOr Bessemer
exceeded last week: prices rule low, and
with no Improvement in values, which show
q wide range Manufactured iron continues
in active demand, with no shrinkage in val
ues.