Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-07-17
NO MATERIAL CHANGE
In the Pig Iron Market ty the Re-
ported Large Transactions.
STEEL RAILS STILL VERY QUIET.
A Long Expected Revival Of Interest Fails
TO IaterIalize.
STATE NJ TVT EnPCICN METAL TplDH
STEEL RAILS STILL VERY QUIET.
STATE OF TIE FOREIGN METAL TRADE
ESPECIAL rnLscRAM TO r,rE prsrArcH.l

ESPECIAL TELEGRAM TO TlrE DISPATCH
NEW York July I6.-Tbe Iron Age reports
the condition of the iron ard steel markets
es follows:
Pig Trnn-The reported sale OF e. moderate
sized lot of No. 2 foundry iron at Sl4 80 pos
sesses no significance. so far as the regular
market is concerned, since it was made by
s9nnulstors. who have apparently grown
tired Of waiting. 1t is worthy Of notice,
however, shat the snme parties still hold &C
ditional quantities of this iron, which IS Il
Ish;gh Valley brand. The market is quiet.
The reported sale of 40,O0G tons of Dc Bardel-
ben iron is nos tIaceabie in this section. 1t
Is surmised that TIE iron was taken by tho
large pIpc founders along the Ohio river
Northern brands are quoted az Sic 759lS 90
fer No. !: SIS OcIl6 50 fo= No Q. and sl4 COG
= 80 for grd, forge. southern irons sell at
SIC a0SlT 70 fcr No. /; SIS c5d7l6 no fer No. >;
SIS aJsIIG ~ for No. soft, and Sl4 0lHif 90 fer
gray force
STiCgeicisen and Ferro Mangaucse-The
only transaction OF magnitude las been tho
sale {" al Eastern rail mill at private terms
bf 5000 tons Of 10 and l. per cent foreign
eriegrleiser. We quote 20 per cent NOM
inally 81 25@27 80 Ferro manganese is sell
ing ili a small way at S6t 00064 50.
2ilietsa and RoGs-Several thousand tons
Of foreign bilIets for re-eXport have been
sold during the week. the quotation being
SIS 0SeI33 80, cN-shipnlent New York ship
lncnt balance OF the year. Domestic billets
arc quiet in the East Little confidence IS
placed in the reports ennanating from Pitts
burg that there is a movement on foot TO
form Il combination among the makers OF
wire rods. Possibly the reports may be the
Outgrowth of a story circulating lately that
q large firm of merchants have practically
bought up all the rods likely TO come upon
thc market during the next six months. In
che East the market is quiet at $Ss 90. tide
water, for rods Small lots of foreign rods
have hcen sold at S45 90.
Ssppl RliiS-Tha market continues eXCeS-
sivcly dull no sales worth reporting having
been .ade during the last week, while the
inquiries are light far as the Eastern
works are concernrd. The bond market has
been excessively dull since the first of the
month. when a revival OF interest in ii was
looked forward TO as the result of interest
and dividend funds available for reinvest-
inert. The disappointment is likely to tell
on the volume of the rail trade during the
next few months. Gossip in the trade has
taken mp the question whether the creation
Of the Maryland steel Company means that
that new concern is entitled TO percentage
OF its own in the rail pool, aside from that
which the Pennsylvania Gel Company now
have Prices remain ;teady at $50 90 at mill
and $50 15 at 1dew tier. When the Sparrows
Point works start, they will have the ad-
vantage for certain sections of having tide
water and mill price identical.
Rail Fastenings-We quote: Spikes, "a
e.l0c: bolts and nuts, 2.70d2.S soc, and fish
plates /. .75d l. soc delivered.
Manufactured Iron and Steel While
there have been no large transactions, the
run of small orders is quite good The
rolling mills tributary to this market are
Tery full of work, the building season now
being in full blast. 1t is noted that a good
deal Of iron in the aggregate is going into
small buildings. One feature marked this
summer more than usual is the frequent
changes made in orders In some lines the
strike at some OF the mills is being felt. Re-
fined bars have sold in round lots at 74c
delivered and an advance may be asked at
2u early date for this class of iron. Band
iron, which sold as low as q0c delivered in
the past few months has been taken at 2O7c
delivered. We quote: Angles, L956I2 lOc;
sheaTed plates, L9512. Csc: Tees, 2.45G1a 75c;
and beams and channels, sic on dock.
Steel plates are 262. l5c for tank, 2.362 &c
for shell, and 2.5@2.7c for fange on dock.
Bars are L76L9c on dock.