Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-12-11
LOTS OF NEW CARS.
Orders for Thousands of Them Make
the Metal Market Better.
VERY LOW PRICES OBTAINED.
Large Purchases Of Other Rolling Stock
Also Add Mite.
PIG IRON BUSINESS NOW PICKING UP


as follows: s
The principal feature OF interest has been
the placing of a very large number of cars.
So far as we can trace them they include
5000 cars for the Pennsylvania Railroad,
1000 cars for the Reading, taken by the Pull
man shops. $500 cars for the Lehigh Valley,
secured by works along the line, 1000 cars
by the Erie, a like number for the Lacka-
wanna, 500 for the West Shore, an unknown
quantity for the Baltimore and Ohio, 500 for
the jersey Central, 200 for the Rock Island,
$500 for the Missouri Pacific, and 800 for the
Atchison. The statements seem justi-
fed, therefore, that about 10000 cars
have been placed during the past
two weeks. The prices, however,
been lower than ever approached, and many
works have declined to work them. On the
whole the bulk of the business has gone to
Western shops. Thus, the following works
participated in the Pennsylvania order:
Michigan Car Company and Peninsular Car
Company, each $50: Barney & Smith, Buffalo
ing Company, Erie Car Works, and Murray,
Dougal & Co., each 500; Pardee Car and Ma
chine Works 200 ana Arthur King 100 cars.
been placed at exceptionally low prices, and
it is certain that the material for them have
been covered at figures not heretofore ap-
IN fne history OF tine heeI bren fnnng
ries, and through them, to charcoal furn-
aces, to axle manufacturers, who in turn
have bought some of their material, al
though many have denominations of old
material. 1t has led to considerable pur-
chases of bars, and incidentally to forge pig.
Other Rolling Stock Purchased.
There have been some large purchases Of
other rolling stock, SO that the works which
manufacture high-grade plates and other
material have now more work than they
have had for a long time. In other lines the
prices are down to figures which producers
as well as consumers know to be equal to
the cost at even thA best equipped mills.
Thus the whole wire industry, from one end
to the other, is down to hard pan. Wire
nails have sold at l65c, wire rods have sold
as low ms S32 so in the West billets have
been placed at s23 50 il Wheeling, and Besse-
mer pig is down to price where confessedly
the majority of furnaces do not get new
dollar for an old one. Many producers hest
tate about selling for extended delivery at
the prices named.
American Pig-There has been little more
business, particularly in forge iron and in
charcoal pig. The latter is selling on the
basis of SIS 256lS so for Southern at this
point and s17 90 at Buffalo for Lake Superior.
The Thomas Iron Company reports booking
orders for next wears delivery to the extent
of $4,000 or 60,000 tons. of which about 1000
is forge iron. which is 10 go to car manufac-
turers. Southern sellers are still uneven,
one leading company offering forge on tine
basis of So IS, Birmingham, while another,
which has large accumulation OF No.
Birmingham. the freight being 81 % to this
point. On the whole, the market is more
active than it has been. We quote Northern
brands at SIG 15G1S 90 for No. l. SIG 009l6 80
for No. .. and Sl4 00dl4 80 for gray Jorge.
Southern iron sells at SIC 25GE 90 Tor No. j,
SIS 50dl6 90 for No. 2, Sl4 59al4 75 for No. 3
foundry. and sH 25@l4 50 for gray forge.
Spiegeleisen and Ferro Manganese-There
is nothing new in manganiferous material,
and quotations are purely nominal. The
order for 800 tons of so per cent ferro from an
OHIO Valley mill has been taken by do
mestic manufacturer.
BiIlets and Rods Declining
Billcts and Rods-The market in the East
has declined in sympathy with the low fig
ures ruling in the West, where four-inch
billets have sold at s23 So Wheeling, while
wire rods have been placed at $50 so. In this
market a lot OF $50 tons foreign billets for
re-export, quick delivery has sold at sSl p
We quote n sale of ], 800 tons OF wire rods to
Conn mill. Eastern rod mills are offering
domestic rods Mt S3l IS sellers mill, which is
equivalent to s35 so tidewater.
Steel Rails-Sales of steel rails by Eastern
mills have been light during the week under
review, and there Is comparatively little
new business coming up. The rail makers
held "A short meeting in this city on Tuesday,
during which report. from; the different
mills showed that they have orders on their
books and options out for 1892 delivery
which aggregate close upon 100000 tons.
How great the contrast is with last year
may be inferred from the fact that on
March the total quantity booked
was only 4iS000 tons. and on June
had only reachei 125 0O0 tons.
1t should be noted however, that the last
was an exceptional year. the railroads hang
ing back persistently under the belief that
much lower prices would be reached 1t
may be stated that conditions are really
only normal now, so far as orders booked
are concerned. There have been years when
1880. when the total product OF rails was
l,s67. .s37 gross tons. with orders on the books
aggregating 7i6 s95 tons, SO that 1892 prom
ises to begin with nearly the same record.
Reports that some of the Western mills have
been manipulating freights with the object
of Disgusting concessions to buyers, are en-
phatcally denied. We continue to quote
$50 0O630 80 at Eastern mill. Concessions
IRON list prices continue to be made on light
rails.
Light Orders of Manufactured Goods.
Manufactured Iron and Steel-During the
week the order for q small boat has been
placed and negotiations are pending for
another. Local manufacturers of structural
iron report the run of orders at the present
time. as being very light and business is
sought with some eagerness. We may note
that an order for about zoo tons OF beams
was taken by Carnegie, Phipps & Co., these
beams being "A inch, heavy section and GO
feet long, showing that the time is approach
ing when the great new mill at Homestead
will be in active. work. We quote:
Angles. 1901. 10; sheared plates, Ls5@2 25c;
C1
on dock: steel plates are l.9d2.lc, on dock:
steel plates are l.9@2.lc for tank: 9. .l592 Soc
for shell; 2.406265 for flange; 2.60@275c for
marine, and 3-3 25c for fire box on dock;
bars are L76l9c on dock; scrap aXles sre
Quotable at . l5@2. zoe, delivered steel axles, |
.a5c. and links and pins 15@a. 20c: steel
hoops. 262. SC, delivered.
The foreign markets are reported by cable
as follows Operations in Scotch warrants
continue light, and the movement of price is
also narrow, with 47sQ47s Sd the range this
A 10 roe
in hematites at about AIS Cd. and consider
able in Cleveland warrants, chiefly
at 3ss rSd@Sss Sd. Stocks in warrant
stores ss9w no very little o change IS. The totals
Cleveland. Home consumption is still mod
crate, but the export trade fair. Exports
last month were Hsl9 tons, against "a 3ls
tons in November, 1890.
Plenty of Pig Tin Trans .actionL
Pig tin transactions have been on a moder.
ately large scale, but freer offering the last
few days at a lower level OF prices checked
the demand. The increased offering is due
TO reports that early decreased shipments
from the straits will be lnrger than has been |
expected. Visible supply shows little |
change and consumption is quiet.
Copper was purchased with more freedom
by dealers directly after the announcement
of the Scciete des Metaux sale, and that
sales, led to an advance to EAT los in mer-
chant bars. The advance prompted free
selling by some large holders. however, and
prices receded to f45 LIS Cd in the
face OF statistics showing q decrease
of 100 tons in the visible supply last month.
Recent transactions in furnace material in |
clude 1900 tons Montana matte at Is Cd.
Lower prices named by some makers have |
led to freer buying of Siemens' steel coke |
finish plates and Hx20 Bessemers. The latter |
went at les ID, and the Siemens plates at 12s |
Cd, f. o. b. Wales Ternes are also receiving
more attention and some business has been |
done at 22s Cd for doubles. Efforts to induce |