Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-03-26
IRON TRADE REVIEW.
The Outlook Now More Favorable
Than for Some Time Past.
no DECREASE IN PRODUCTION.
Influence of the Pittsburg Situation Upon
Other Markets.
REPORTS FROM THE LEADING CENTERS
OFFICE OF THE DISPATCH, }
PlrTSBURG, FRIDAY. March OF

OFFICE OF THE DISPATCH,
PIrTsBURG, FRIDAY, March 25. {
Raw Iron aud Steel-During the past As
hours the feeling OF the market has im-
proved. There is decidedly a stronger
under-current, and sales continue to show
up fairly well Iron dealers generally feel
that the worst is about over; that prices
have touched the lowest point; that steady
Improvement may be looked for in the near
future. The large operations we have re-
ported during the past month is good evil
dence Of the feelings of interested parties.
Last weeks prices were fully maintained.
While there are some outside furnaces still
anxious to realize there are others who show
no anxiety on the subject, being satisfied
their time will come before long. A num-
Der of furnaces are now engaged on con-
tracts made some time since for future de-
livery. When they are filled it is expected
that better prices will prevail Again,
there are other consumers who have ad-
hered TO the policy of only purchasing TO
meet their immediate wants, notwithstand-
ing that both Northern and Southern
brands of pig iron have been sold at ex-
tremely low prices.
Notwithstanding the necessity of taking
u6sSuEts 10 FeSlIlCI llS current output OF
iron, and the reports from leading produc-
ing sections as to the action of the furnaces
in this matter, there has been as yet very
little decrease in the number of furnaces
blowing. The production continues at the
heavy rate noted on the first of
the month, especially IN the South,
where, if anything, the capacity of the
stacks in blast has somewhat increased
during the same period. In certain sections
the railroads have shown a disposition to
assist the furnaces TO hold the market in
The competition with the iron from other
sections. and a reduction has been announced
iu freight rates on pig iron from the Ma
honing and Shenango valleys There is
also probability of reduced rates of freight
on coke and limestone.
The Situation in Ore.
Iron Ore-Prices have been reduced since
the first OF the year 4 few days since
Bessemer ores, tor delivery the present
year, were offered at % cents per ton below
last wears prices. Taking these matters
into consideration, together with 10 cents
reduction on pig iron from the two valleys
10 PiJtsburg certainly puts more favorable
outlook IN favor OF makers. The New York |
Daily Nsi8l Report says of the Pittsburg
iron market: "A review of the situation in |
The iron cen5ers of the country for the past |
WIN IlG>ClllS blAl lew tlldllGeS IN IDe SlICa- !
ton. PlttsbUrg, as the leading iron pro- |
Gucing district, is perhaps the most care |
fully TO be noticed, as any change affecting |
conditions in that center are most likely TO |
produce an influence upon the trade of the |
whole country. In Pittsburg we find a |
continuation OF that great depression which |
has existed now for month past. Especial I!
lv Is this true of the market for raw iron
In blllets sales have been rather heavy, |
uuylDg chiefly for speculative account but |
these purchases have. as vet had but trifiing |
effect as regards values
steel Ralls-The condition of the market |
is unsatisfactory, very few orders being |
taken and those OF small proportion; one
-ot OF 5000 tons was taken by an Eastern /
mill for the Baltimore and Ohio Railroad.
Prices continue $50 at the mills
The Big sale of Eiliets.
The LATEsT-The undertone of the
market is certainly strong. Iron dealers are
well pleased with the outlook. The 20 600
tons sales OF blllets, reported exclusively in
The DISPATCH last week, caused consider
able excitement in the East, the price being
the highest for some time. To-day we re-
port another sale of 1000 tons at still fur
iher advance. When billets sold at SOD 15
125 90 we remarked billets at those prices
would be a good investment; parties that
took the hint are well pleased. Bessemer
remains steady, with sales of a block of s 600
tons at fair prices Gray forge unchanged.
Prices OF pig iron advanced in the European
market sufficient TO stop exporting. This
oughj to lend strength TO our market in the
near future. The New York Iron Age has
this 10 say: The first signs of encourage
ment are beginning TO appear from different
sections Of the country, and the news from
the leading markets is not so uniformly
as it has been during the past
month 1t looks as though the steady de-
cline has been finally checked
,oKE-SNIFLTED LAKE AND NATIVE ORES
:. 90 tons Bcssemer, June July. August