Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-05-28
IRON TRADE REVIEW.
Market Steady With Sales Showing
Up Fairly Well Hereabouts.
FREIGHTS TO THE VALLEYS DROP.
The Summer Holiday May Be Longer Than
Usual for Obvious Reasons.
REPORTS FROM TIE LEADING CKNTERS
OFFICE OF THE DISPATCH, D
PITTSBURG, FRIDAY, Nav 81. (

= ~
RAW IRON AND STEEL-Trade since our
last report has exhibited only slight i'm
provement in certain kinds of iron. The 1st
of July is the usual time for stock taking
and repairs, also for signing the Amalga-
mated scale. Rumors in regard to what ac-
tion the iron men will take in regard to
next wears wages are in circulation. Some
are to the effect that a material reduction in
wages in certain departments will be de-
manded; that under existing circumstances
it will be impossible to pay last years
wages; that few firms have made any money:
that many have barely made expenses, and
others have failed to make the years ac-
count show balance on the right side OF
the ledger
From some manufacturing centers there
are reports of an increase of sales of stand
ard BeSsemer pig and of soft steel. Prices,
however, have been low and far from salts
factory to most sellers, being more or less
irregular. The usual midsummer holiday is
near at hand. and Will doubtless be taken
advantage of for a suspension of work,
which, IN the opinion of certain well in
formed parties, may be protlacted longer
than usual.
Furnace Changes Hands.
The Charlotte Furnace at Stockdaie, has
changed owners and is now owned by
Messrs. John W. Chalfant. of the Isabella
Furnaces Nos. and > James J. Dnnnell and
Alex Nimick. trustees of Nimick & Co. The
furnace is now out of blast, but will be
started up A. soon as the outlook will justify.
1iusbury furnaces are still running and
turning out the usual amount of IRON, which
at all times commands the highest current
prices, having a reputation second to none
in the Unired states.
SOUTHERN PIG IRoN-Ra ilroads are doing
all they can to assist the iron makers of the
South. Since our last roads from Birming-
ham, Ala. have made a reduction of iron
rates OF 20 cents per ton to Pittsburg and
PlttSbur" points. The reduction weat into
effect on Tuesday, May -. but lasts for only
one week. Why it should have been made
Tor one week only is a puzzle to iron men
generally
\ leading dealer has this to say: "a fair
business was transacted. and, in a majority
OF cases, at about the same figures as last
week. On the whole it is proba BILE that buy
ers have had some slight advantage as re-
CARDS terms and deliveries, although no
actual concession in prices can he noted. |
But certain sellers have extended their da les
Tor deliveries, which Is one of the conditions
buyers have been contending for. 1t may
be said that rates the past week have been |
at prices and On terms easiest on record"
Coke Frcichts Lowered.
The LATEsT-Freight rates have been re-
duced from the COnnellsville region to the
MahOning and Saenanyo Valleys from 81 35
10 81 25 per ton, and the rates to the Wheel |
ing and Cleveland districts from 81 20 to |
81 s.. The reduction will take effect June l. |
When the weeks sales are added up they |
present fair volume of business. Prices |
are certainly down TO rock bottom. les
semer sold at Sl4 ) and GRAY forge at Sl2 $50 |
j 20. Steel slabs and biliets. Sj2 4J622 80. |
Muck bar dull: no demand. sile!p iron and |
steel IN air demand; prices fairly main |
talned Old material dull and neglected. |
New steel rails are UNCHANGED: sales at works
reported at SIC per ton.