Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-01-16
IRON TRADE REVIEW.
Market Steady, but Not Quite So
Active as Last Week.
PRICES MAINTAINED ALL AROUND.
A jump of 30 Cents in Bessemer Ore
IleaSeS Producers.
DRIFT OF TIE MARKETS AT ALL POINTS
OFFICE OF THE DISPATCH, !
PITTsBUEG, FRIDAY, January Is. (

PIrTsBUEG, FRIDAY, January Is
RAW IRON AND STEEL-Trade this week
was rot as active as the preceding, the vol
ume Of sales not being so large. The
;,1nog.a. of raw iron and steel sold the last
week in December WAS 70 192 tons; the first
week in January, Il, 900 tons, ard 3S, 600
tones Of Bessemer ore, making total of
1S2. 092 tons. The entire sales for the last
week il 1890 and first week in 1891 were
50.g76 tons, being a deficiency, compared
with the raSt two weeks, of 131, ,116 tons
These figures show conclusively that the
Pittsburg iron men are making the neces-
sary arrangements for big trade during
the year. The advance noted in our last
hiss been maintained. Furnace men and
sellers can take rest and wait for con-
sumers TO enter the market for fresh sup
plies: and at the present rate of consump-
iion they WON'T have long to wait. There
IS 20 SPECULATION of any account, the pur-
chaScs being made principally by actual
consumers
) Good Trade Demand Here
Some apprehension was felt that there
might be an accumulation of iron at the
furnaces, owing to the cessation of con-
sumption, and that holders would be dis
posed to force sales and thereby endanger
the stability of the market. Fortunately
nothing OF the kind has occurred, but, on
the contrary. there has been a good trade
demand, and at fair or unchanged prices
Developments, so far, have been unexpect-
edlv favorable, inasmuch as the crisis is be-
heyed TO have been passed without any
symptoms OF weakness whatever. As
matter of fact all the changee within the
- L., L. .1f
higher prices. Taking everything into con-
sideraTion the new years business has been
equal to the best that could be expected and
in some cases very much better than many
people thought it would be. We have Ger
fainlv made an excellent beginning, and
those who are not looking for ''boom'
cu-ht to be entirely satisfied. a ''boom''
is not wanted. What we do want is a
reasonable steady advance that will prevent
speculation. so that the trade may be sup
piled by PitysbUrg furnaces and those trib-
ut;.Tv to this market
Not Contracting Too Far Ahead.
4 veil informed dealer has this to saw:
.'While there has been no change in the
tone Of the market, as regards prices, manu-
iah.urers. generally recognize the many
evidences that are present OF prosperity in
lbe various branches of trade and industry
aud are therefore cautious in making sales
Tor delivery too lar in the future. -
Steel bi!lets are less active; holders firm
and showing no signs of weakening; sales
ior some time past have been large: stock in
iirst hands not large Muck bar is weak,
i'm ncr quoted lower: sales restricted to
limited amounts. Steel rails-Market not
very active, prices well maintained: current
rates so / o. b. AT works, this being the
syndicate price and the enc at present
governing Eastern markets. Finished
ma,erial-The demand is improving. orders
age said 20 be coming in pretty freely: the
next movement Viii be an advance i'm prices
Old material has been neglected for some
time past; old iron rails dull, prices un-
seTrlcd.
TEE LATEST-The market was steady,
hut not SO active as the previous week
The large sales made since the first of JAN
nary viii supply the demand of consumers
Tor short time at least. Prices were fair
lF main aimed Ior most descriptions. We
aye reported sale of Bessemer ore at 30
,"Dts advance over last week. The sales of
gray ior-C and EesSemer were made at last
weeks nguTes. Other descriptions show
10 change IN values.