Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-07-23
IRON TRADE REVIEW.
Steel Slabs and Billets in Good De-
mand and Tending Upward.
WHAT Is DONE IN THE VALLEYS.
The Demand for Old Iron and Steel Rails
is Growing Better
BESSEMER PIG AND GRAY FORGE FIRM
OFFICE OF TIE DISPATCH,


PITTsBURG, FRIDAY, July ~
RAW IRON AND STEEL. business dur
ing the week has been restricted to limited
amounts, caused, no doubt, by the labor
troubles. The situation is certainly very
unsatisfactory as well as costly one, and
how long this condition of affairs is to con-
tinue is a question that no one can an
swer
Trade at present is barren subject; bar
ren because it is for the present practically
divested of the features which alone invest
it with absorbing interest 1t is not dead,
but it is resting, and there is but little in
its present condition that demands indus
trious consideration. Demand has no spur,
and the prices that rule are midsummer
prices, and these, so far as the future is con-
cerned, mean nothing
The business for the past six months, so
far as it relates to the management OF In
dustrial affairs, is bad enough, but the last
half year starts out with an occurrence
which, in irrational proceedings, injurious
consequences horrible tragic features and
uncivilized methods, so far belittles any
happening recorded in the annals OF the
past that the grayeSE OF them SHRINK INTO IN
significance.
The shutting down of SO many mills at va
rious points has curtsiled consumption OF
pig iron very materially still the supply
continues largely i'll excess OF the demand
The late reduction in prices in the East
produced no effect in this market. with
Bessemer ut Sl4 and gray forge at Sl2 20,
holders of standard brands refuse all offers
OF lower prices, Competition runs quite as
sharp at any previous time TINS season,
and brands thnt DO not command the es-
teem of consumers which may be offered
with any pressure, have to be let go at rates
attractive to the buyer.
Pittsburg made iron and steel commands
the best prices that rule the market, the
fact being well known by consumers that
the material purchased will at all times
sland the expected test; consequently
buyers run no risk. The stock of iron in the
hands of makers in this district is not large,
still the amount is sufficient for all neces-
saTy purposes. The demand Tor some time
was confined to the better grades
The market contains two sets of pur-
chasers of pig iron, the first buying for con-
sumption, the second purchasing on specu-
lation On account of the low prices ruling in
the market at present. Parties well yersed
in the value of iron contend that money is
perfectly safe that is invested in b1llets,
gray forge and BeSsemer at present rates;
that as soon as the present labor difficulties
are adjusted prices Will take an upward
turn.
Important News From the Valleys.
The situation is as quiet as it can be under
the circumstances. Only one sheet mill il in
operation, employing about 25 hands. The
other mills are busy making annual repairs,
taking stock and putting in improved and
In labor-say1ng devices. In the Mahoning VAL
lev consolidation of the iron manufacturing
industries is still under consideration, one
important move in that direction having
already been consuminated. The steel plant
project is so far under way that the location
Is being considered.
Railway officials will meet this week with
the incorporators to agree upon terminals
or,d .ra,@, Nar.l- 6o
commenced on the works inside of 80 days.
One concern is putting down three add1- |
tiOnal sheet mills, and several tin plate mills
are also under consideration: All the fur
Naces are in blast except Hubbard No. 2,
Mary and Struthers. Hannah will shortly |
blow out for repairs.
In the shesango Valley the Clair Spear |
man No 2, Etna and Sharon and Neshan- |
mock are blowing; every thing else is at rest. /
The new steel plant Of the Shenango Steel /
Company will commence operations October 1
l. will also the new tinplate null at New |
Castle
As soon as the iron workers scale of wages
and the repairs are completed the valleys |
will be Very active in tic mill trade, as
mnnu ctured stocks are very low and |
prices have been advanced from 81 to 81 per |
ton. |
The Production of Pig Iron.
The total production in the first half of
1892 was L 79s c56 gross tons, against 4.sll,763
toas :u the second ba!f of 1884, decrease of
lle 707 tons. Adding the production of the |
two half years we have the extraordinary |
production of 97l0,Sl9 gross tons in l2 |
month, which is Jos ll6 tons in excess of 1880. |
Notwithstanding the non-settlement of the |
scale question, we can report a fair amount |
of business. Steel billets are firm with q |
good trade demand. Prices tend upward. |
Bcssemer is steady, last weeks prices being |
well maintained. Gray forge is not very |
active, but prices show no decline. Muck |
bar is dull and neglected. Scrap material is |
dull. Old iron and steel rails are drmer. \