Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-09-17
DEMAND LESS ACTIVE.
Grey Forge Firmer and an Advance
Asked on Some Grades.
BESSEMER SALES RESTRICTED.
scrap Strong and Old Iron and Steel
Fails Scarce.
AN UPWARD MOVEMENT IN sKELP IRON

FRIDAY, Sept. 16.
The demand for certain descriptions of
iron and steel shows signs of further i'm
provement so far as the volume of business
is concerned. The improvement in values,
so far has failed to reach expectations At
many points steel plants are taking the
place of pudding furnaces, whose days GER
tainly seem to be numbered. The reason is
very plain-steel for many purposes is not
only preferable but cheaper. Take, for in
stance, skelp, of which hundreds of thou
sands of tons are used annually; We note
sales of wide grooved iron at 81 62% per
cwt; wide groOved steel, 81 so; the difference
is a handsome profit. The same remarks
are equally applicable to numerous other
articles. 1t is only a question of time when
pudding will be a thing or the past.
The Outlook Encouraging.
The middle OF September has to a certain
extent sustained the anticipations of the
iron trade as to slight revival of fall busi-
ness. While there has been only limited
number of heavy transactions made public
this week quotations show no material
change There is an undercurrent of feeling
US to the immedia'e future that Is encourag
ing to producers. Most of the options on iron
and steel which were given some weeks
since have been taken up and commissions
are not as readily secured. These facts,
taken in connection with the action of the
leading producers in refusing business
which would have been accepted short
time since, have had the effect of imparting
strength to the market for crude material.
The position Of the market is rs satisfactory
as could be expected, but consumers,
recognizing that there will be q fairly
active business during the balance OF the
year contend that the capacity OF the fur
naces is so great that competition for orders
den increase in prices. Consumption Of all
grades OF pig iron is now heavy and the out
put more nearly approximates the demands
from the various consuming industries. On
the whole the present situation is one in
which manufacturers find much that is en-
couraging, although consumers, while
closely watching the condition of the mar
ket, are generally purchasing on short de-
liveries except In instances where odd lots
can be picked up at prices that are regarded
as satisfactory.
Course of Prices and Sales.
Structural material is very firm, the ad
vance previously noted being maintained
and further one demanded. Steel beams
readily command &c at mill, and Tor imme-
diate delivery 1-l0c to 2Ac.
Pig iron production shows a material de-
crease in August. The total decrease in
weekly production was 1887 tons. The re-
duction OF all kinds from July to August ]
was II, ,269 tons. The reduc tion of weekly pro-
duction since March l, the period of great
est production IN 1892, is 81, ,232 tons. The
production for September is the smallest
since June, 1891
Gray forge is frmer; certain holders ask
an advance. Bessemer is steady, though not
active. The demand for steel billets has
maintained. Old iron and steel rails are
firm; offerings light. Scrap material is held
at higher prices.
CoKE-sMELTED LAKE AND NATIVE ORE.