Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-07-30
A STRONGER FEELING.
Billets and Slabs in Fair Demand
. and Holders Are Firm.
LEADING IRONS FIRMLY HELD.
Muck-Bar Dull and Weak and Scrap Ma
terial Moving Slowly.
RANGE OF BEssEMER FOR SIX MONTHS

FRIDAY, July %.
While the demand for raw iron and steel
at certain points shows an increase it is
evident that the total volume of business in
the whole country is shrinking on account
of the uncertainties attending tine labor
troubles N the West A vast amount of
business is said to have been transferred
from one section to the other, giving an
appearance of activity which is not con-
frmed by the action of buyers, who seem
disposed to await a more settled condition
of the market. The inquiry, under the cir
cumstances, has been fair, and prices of
standard grades have been maintained
although a good deal of Southern iron has
been placed at various points under circum-
stances that indicate very close calcula-
tions. Sellers of Northe IN iron are not dis
posed to make long engagements at present
prices, having an abiding faith that bott ON
prices have been reached, and buyers are
looking about cautiously.
As indicated last week the statistics of
unsold pig iron show very little change in
amount from the figures of April J. The
heavy production during the first half of
the present year, and the fact that stocks of
pig iron are not much above months sup
ply, show that notwithstan ding the de-
pressed condition OF trade, consumption
during the present year has been particG-
larly heavy. The sales of iron and steel re
ported in these columns since the first of
the month seem to indicate that the large
consumers have about made up their minds
that prices are not expected to go any
lower, and that it would be good policy to
provide for late summer and tall require
ments while the opportunity for selection
Is still presented. There is time enough
sill oIo,.onq TO inquire e,+ around around and
prove expensive. Nevertheless. careful
buyers who consider quality as well as price
are making contracts. Taking into con-
siderntion that gross outputs are steadily
diminishing, and as curtailment of produc-
tiOn is the remedy against the evil that has
been depressing prices, it is not improbable
that values will appreciate in the autumn.
No intelligent person viii attempt to create
the impression, even by conjecture, that
prices may advance to any considerable
extent during the balance of the current
half year: but the experience of the last two
years has been severe enough in its dis
cipline and depressing influence Co cause
the iron men to realize that small favors are
worth consideration.
Xix Months Iron Production.
A comparison with the six months of last
year shows a curious condition of affairs.
Production in Georgia, 1891, 90 4Ol: 1892, $3.50:
deficiency, 1861 tons; Texas decline, 1924
tons: Colorado, 1914 tons; Michigan, ll,24S
tons; Wisconsin, .2SS tons: Connecticut, l30
tons; New Jersey, %, 600 tons The increase
in Pennsylvania WAS 62Ss $50 tons: in Ala
hama. l6O, 23S tons: in Illinois. $50 $40 tons; in
Ohio. Sl7 $50 tons: in Tennessee, 81. OLA tons
1t Will be perceived that Pennsy sylvania ex-
ceedS Illinois, which is the next highest, by
293,Sl9 tons. When it comes to the pro-
auction of pig iron one can safely count on
Pennsy ylYania.
Tone of the Market and the Sales
Bessemer steady at sl4 co. gray forge, sle 75;
steel billets SaS 50924 90; special, SIS 90. Muck
bar dull and neglected. Scrap material dull;
prices irregular. New steel rails, $50 90 at
mill S5elp iron dull; no demand. Old iron
and steel rails more inquired for; offerings
light.
COKF-sNFITFD LAKE AND NATIVE ORE