Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-05-14
RON TRADE REVIEW.
les Show Up Fairly Well, but
Dizziness Still Exists Here.
Re SALES RECORD AN ADVANCE.
More Satisfactory Tone Noted at the Close
of the Week.
Nv THINGS LOOK AT ALL CENTERS
OFFICE OF The DISPATCH, .
PITTsBURG, FRIDAY, Nav l3.

OFFICE OF The DISPATCH,
PITTsBURG, FRIDAY, May l3.
Raw Iron and Steel-Trade since the
te Of our last has not been very active.
i'll there is fair show of business when
e aggregate is summed up There has
zen no decline in Bessemer or standard
av forge. The outlook is far from prom
ing to manufacturers of crude and finished
aterial The market for pig iron presents
new features, the competition among the
rrious furnaces to dispose of current out
1t keeping prices at the lowest point ever
,tore known. Notwithstanding that iron
ld steel can be purchased at rates extreme
favorable to consumers, the largest por-
on of the sales continue of small size for
mediate use, certain BUYERS showing lit
confidence in the near future. On the
her hand, certain moneyed parties are
sposed to purchase a few thousand-ton
ocks as an investment, to keep until prices
yain advance somewhere near legitimate
llue, and some people are of opinion that
le time is not far of.
Cfty-Made Iron Still on Top.
City-made iron and steel still command
re top figures, as parties interested know
Ie value OF material made at Pittsburg. At
re same time We occasionally hear of an
inside lot, or an unknown brand, being
laded in order to make q sale. Such opera
ons produce no effect on leading producers,
no hold firmly to existing quotations and
re not disposed to meet the rates of the
ealler furnaces, which are compelled to
'aliZe.
\ well-informed dealer has this to say:
The drift of opinion seems to be that the
Irn is now measurably within sight. Not
lat business is likely to he particularly
ood, but things are so bad that there must
c necessity be a change in the near future.
IauUfaCturerS cannot continue doing
usiness at prices below those now current,
nj good many are believed to be losing
lOney on almost every ton OF iron they sell;
1nSequently there must be n decrease in
le supply, which in its turn will eventually
ring more or less of an advance in prices.
he fact that certain consumers recognize
us phase of the situation is shown by their
forts to make contracts at present prices
~ long deliveries. There are very few who
re not willing TO engage all the material
Iey are likely to need during the present
ear, provided they are guaranteed present
ylces, but they are not confident enough to
ay an ADVANCE. inns, however, shows
leir change of attitude. Hitherto it has
cen difficult to place anything more than
as Immediately needed; beyond that
pecial prices were demanded ard in most
aseS were secured. Buyers have no in
antion, and at present are under no neces-
ity, of paving an advance; but they feel
uetty sure that further concessions are al
lOst beyond the bounds of reasonable prob
bility. so that they feel safe in engaging
heir favoriJe brands for as long a period as
ellers are willing to make contracts"
The Market at the Close.
Steel slabs and billets showed more firm
Iess. Last week the lowest transaction WAS
50 S5a22 10. This week rates are SD 5O@
. 60. Muck bar weak, being offered at
- So Ferro manganese-We hear of fur
her sales OF imported, at seaboard, $50 e5.
piegal, lo6l2 per cent, seaboard, s2S Is: 20
Der cent, SO 30. Skelp iron-Prices main-
aimed for the various kinds. Old iron and
eel rails are very dull; prices uncertain.
'Juthern iron dull. Steel wire rods-Sales
u American f1ves, at mill, S3l SIS.
The LateSt-Demand for certain descrip-
ions was more active. Bessemer-A sale of
SEQ was made on Friday, 2 500 tons at city
uruace S14 50 cash. the highest price OBJ
aimed Tor some time Standard gray forge
ueld firmly at SIS. Muck bar dull and I'M
hanged. Scrap material was more fancied.
Did iron and steel rails dull; prices irre@u-
ar Iron ore advancing; new steel rails $50
Il works.