Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-12-05
IRON TRADE REVIEW.
The Demand Is Improving and Prices
Fare Moving Upward.
NEW STEEL RAILS ARE BOOMING.
it Is Pull Here Now, but a Good New Year
Trade Is Certain.
DRIFT OF THE MARKETS ELSEWHERE
OFFICE OF PTTTsBURG DISPATCH,
FRIDAY, December 4.

OFFICE OF PTTTsBCRG DISPATCH,
FRIDAY, December 4.
RAW IRON AND STEEL-Business since
our last has not been on a very extensive
scale. Consumers keeping their works run
ming have only been purchasing amounts
sufficient to tide them over the present
month so as to be free for the new year,
when Il new set of books will be opened.
There is little change to note in values; in
fact, none is looked for until after 1892 has
been inaugurated. The stock OF. standard
brands has been well sold up. Some large
dealers are holding their stocks above pres
ent quoted prices. considering the raw ma
terial better to them than money offered.
On the other hand, some sellers will accept
present rates for round lots, provided the
time Of delivery is satisfactorily arranged.
Pittsburg Not in 1t Yet.
Pittsburg to-day is the dullest market
East or West; prices are comparatively
lower all around. This ought not to be. but
il is a fact ali the same The Eastern mar
kets are in very fiourishing condition; the
Improvement that set in short time since
continues, and evidently came to stay, at
least that is the prevailing opinion among
men who ought TO know. A leading dealer
remarked: There is q larger demand for
pig iron; merchant iron and steel rails have
been and gaining strength under this
influence. The railroads have been important
factors in producing this change for the
better, both by purchases of rails and by
placing orders for cars in large numbers.
The railroads are by far the heaviest con-
sumerS of iron and steel Their require
ments cover great variety of products, and
when trade in this quarter assumes an active
condition its influence is felt very widely in
the iron and steel trade
steel Rails for This Market
Orders for spring deliveries of steel rails
are better than for some time. Mills here
are well supplied with orders. Carnegie &
Co. have this to say: 1.-The inquiry for
steel rails is good. There has been steady
demand, the best for many years. For
long time that portion of the general busi
ness of the country has been away down,
but there is nothing to complain of now,
and there is every reason TO believe that 1t
viii continue, not alone for this fall or win
ter. but that the time ahead will be full of
activity. In fact there is no reason to
doubt. from existing indications, that while
this year will continue good, next year will
be much better
Ihc dClINe ueHiduu lol Steel ldlIe Is cei-
tain to be followed by an active demand for
most descriptions of iron and steel The
year of 1892 will undoubtedly show the
largest business of any year in the history
OF the American iron and steel trade.
An Encouraging Outlook.
The LATEST-The outlook during the
past IS hours shows considerable improve
ment. the demand for Bessemer has i'm
proved, and values are tending upward.
The same can be said of gray forge As
noted in our last review, bottom prices have
certainly been reached Steel billets and
slabs maintain previous values with good
weeks business. Muck bar is quiet and un-
changed. Old steel rails are active and
iirmer, and so are old iron rails. New steel
rails are active at $50 per ton. The out
look for business is rather more favorable