Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-04-02
IRON TRADE REVIEW.
The Advance in Bessemer and Steel
Billets Is Maintained.
SOUTHERN PIG COMING UP HERE.
Notices Soon to Be Posted Announcing Wage
Reductions at Furnaces.
THE SITUATION AT ALL THE CENTERS
OFFICE OF The DISPATCH, ,
PITTsBURG, FRIDAY. Apr,l !. I


RAW IRON AND sTEEL-The improved
feeling among leading dealers announced in
our last continues, prices being steadily
maintained, and for certain descriptions
higher figures have been demanded, several
round lots of Bessemer being disposed of at
S14 rs As whole the market looks de-
cidedly healthy and consumers are begin
ming to realize that delays may be danger
GUS As usual there is considerable differ
ence of opinions While considerable iron
has been taken, manv consumers look upon
the present low prices as rock bottom, and
are therefore buying sufficient to cover re-
quirements for several monts This antici-
patton of future wants has not been general,
and there are quite number Of consumers
of pig iron that continue to purchase only
what they require for immediate wants
Stocks are very heavy, but there has been q
continued reduction in the number of fur
naces in blast, and there are indications of
more general blowing out or banking during
the coming month.
Southern Pig Coming North.
1t is reported that considerable Southern
pig iron is being sent to various ports of
this State, freights being more favorable to
the Southern producers than formerly. The
competition of the iron of this section is
likely to be more seriously felt in the near
future, as the Southern trunk lines have
made a reduction of from Is cents to 40 cents
per ton in freight rates that went into effect
on March 2S
A well-informed dealer says: 'The iron
business here reached a point at which it is
felt that as matters cannot be worse they
must OF necessity soon begin to get better,
and this is undoubtedly the actual fact. Be
that as it mav we have failed to hear of a
single instance in which a seller has thought
il worth while to entertain any proposition
for business which would involve any con-
cessions in prices, but numerous cases have
been met with which dealers refused to
duplicate recent transactions"
Reducing Wages at Furnaces.
The furnace owners of the Mahoning and
Shenango Valleys have decided, by reason
of the bad condition of trade, to post notices
of reduction of 10 per cent in wages OF ali
blast furnace employees The notice will
take effect on April 10 at son1e furnaces and |
at others April Is, according to date of pay
day. 1t is probable the employees will re- |
fuse to accept the reduction.
A dispatch from Birmingham, Ala, saws:
HJron men are jubilant on account of the |
reduction OF 80 cents on railroad freights to |
The Ohio river, and, as a result, the iron is |
now moving northward. The reduction is |
believed by iron men here, to make their /
position impregnable and it will be followed |
by corresponding reduction in the price |
of heir product" "
For steel slabs, notwithstanding the /
large sales reported recently, there is still a |
fair demand at current rates. Muck bar |
dull, and prices shade lower; demand re-
stricted for some time. Bessemer pig finds |
numerous buyers; more sales than reported
at the advance than for some time past.
Gray forge steady, but not very active.
Ferro manganese weak; sales reported at a
decided decline. Skelp iron sold at slight i!
decline; the same applies to bloom and
beam ends Old rails and scrap material
dull and prices irregular.
Tho Outlook at the Close.
THE LATEST-Sotwithstan the lib
eral sales of Bessemer pig and steel billets
for some time past there is still fair de-
mand for both. The fact is indisputable
that prices are down to a low figure The
advance noted in our last has been main
tained, and holders of favorite brands are
not inclined TO make concessions. Many
are well sold up, which tends to hold up
prices. New steel rails are quiet, former
prices being maintained. The table of sales
for the past three months will show the
large amount of raw material that changed
hands, being largely in excess of any pre-
vious year.