Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-01-23
NOT FULLY ADJUSTED
The Announced Combine of Steel
Rail Men Rather Premature.
Pig IRON TRADE ONLY MODERATE.
The Two Big Scranton Mills Have Not Yet
Been Consolidated.
iG IRON TRADE ONLY MODERATE.
STATE OF FOREIGN METAL MARKETs

ESPECIAL TELEGRAM TO TuE DIsFArCH.i
NEW YORK, Jan. 22.-The Iron Age of
to-day quotes the American iron and metal
markets as follows:
American Pig-Business has been on a
moderate scale, without any important
change of prices. The famous opening
prices of the leading Lehigh company have
not yet been promulgated. but it must be
noted that they excite little interest now as
compared to the attention they commanded
five years ago Southern furnaces seem to
have made very little No. and 2 foundry
iron lately, their offerings being principally
oi silver gray, No. l soft and gray forge, in
which there has been some business. No. 2
foundry warrants are being offered on the
basis of SO 75 at Birmingham, which is
equivalent TO shade over S15 No l soft
has been sold on the basis of a shade over SIS D.
We quote standard Northern brands at SIC 7563
l. 80 for No. l, SIC O06l6 80 for No. . and SI4 so
Cl5 50 for gray forge Southern iron is SIS 50
ale 90 for No. . foundry, and SIS 75&l4 90 for
forge.
Ferro Manganese-lnterior markets are being
supplied now by PittsSurg. where sales have
been made at SG2 50. We quote tide-water lots
SCI 1t Gl 80
Billets and Rods-There is some inquiry for
round lots both of soft and high carbon bilIcts
Or tie former at least one Eastern mill is
quoting close to parity on Western prices which
are a shade under SIS 80 at Pittsburc with the
majority of large sellers asking S25 so for de-
livery including March, equal to a shade over
SIS OO, delivered at buyers mill, Eastern Penn
sylvania. The lower figures alluded to last
week were current only a short time although
sales were made at S2i so. The market has
therefore improved somewhat. In rods there
&c 1ssass lint otit &c
sharp. coming from quarters even in which il is
not usually expected. We quote S3S 50 at
Eastern sellers mill.
Steel RailS-At the meeting OF representa-
tives OF steel rail manufacturers, held in this
city last week, the plan outlined in the past in
the Iron Age was adopted, except that modi-
ncaulOn was made in the amount payable per
ton for excess over percentages allotted. 1t is
reported that percentages of one of the group
OF mills are not finally adjusted The an
pounccment that the combination had been
formed and is now effective is however de-
cidediy premature. and some time may elapse
before II i. While the chances are in
favor of :he ultimate adoption of the
plan. the possibility still exists that the efforts
made may come to nothing. The positive state
ments concerning The negotiations of two
Scranton mills which have gone the rounds are
similarly premature. As we reported last week
only preliminary arrangements were perfected
A number of details must still be adjusted be-
fore the Lachawanna Iron and Steel Company
becomes the successor of the Lackawanna Coal
and Iron Company and the Scranton Steel
Company. 1t is highly probable that the consoi-
idatlon Will be effected. but there is remote
possibility that it may still fall through
A very erroneous impression has been created
by the persistent mistake of alluding to the
transaction as an absorption of the Scranton
by the Lackawanna Company. 1t is conceded
generally in the rail trade that the mill OF the
former company Is by far the better as its
record of producing 100000 tons in six months
shows. The position which the Scranton Steel
Company has acquired is highly creditable to
the technical management Of w. W. Scranton.
Of Scranton, and TO the commercial ability of
Walter Scranton. of New York. For its size
the mill unqueStiOuably occupies first rank as a
producer IN this country. and with Cornwall
pig as the chief raw material. the quality
has ranked with that of any other
works. Through the efforts of Walter Scran-
ton the company has virtually controlled the
whole of the New England market, has taken
the business OF roads like the New York
Central and q number of leading coal roads
has held the trade of many Southern lines and
captured frequently important Western and
Canadian oraers. To speak of an absorb
ton under such circumstances is to imply
that the other participant in the undertaking
lS the greater. As a matter of fact the de-
llveries in 1880 of the absorbed" member of
the consolidation were 10, 900 tons greater than
those Of the disorder
safes during the week have aggregated about
10000 tons by Eastern mills. the bulk being for
Eastern roads n private terms. The market is
difficult 20 quote. The majority of sellers name
S29 0d30 90. according to time of delivery but
all lower offers have not yer been withdrawn
Manufactured Iron and Steel-The only large
business 10 be closed at early date Is bulid-
lu- at Atlanta, Ca, for which l,500 tons of
beams will he required. Some very low prices
p being named in Belgian beams which have
been ot cred ~ 'ow 2-25c. The Abbott gun
IFS for Sandy II ook was taken to-day by the
Continental Iron Vi oTiSs at S93, 80 the other
bidders being south Brooklyn Iron Works
Sll9,j0O Morgan Engineering Company SIiS,-
80: X. q j. Gray. New York, sos 600; Quintard
Iron Works. Sll00CO.
Plates are weaker We quote: Angles LOS
o. l0c; sheared plates, 2.20G225c; tees, 260
-'oc. aud beams aud channels, sic. on dock
steel plates are 22iEJ93Oc for tank. 2551p2 Csc
ior she'll and @S515c for hange. on dock. Bars
are L75Q l-qc. dock
Track FaStenings-The market is irregular
special prices being readily made for anv large
order. We quote: Spikes s. 00d2 O5; fish
plates, L7NGL75c, and bolts and nuts 2S563c.
Old MaterIal-The market shows no move
ment whatever The only lot of any canse-
qnence offering is one of l,5OO tons American
Holders OF foreign rails of which there are a
talr quantity are asking from S2S upward.
whlle havers do not readily name more than
SCI 5OU22 00 Old steel rails are held higher,
but there has been no business.