Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-10-15
BILLETS ARE ACTIVE
And Sales and Reports Show That
Prices Are Firmly Maintained.
BEssEMER WEAK AND LOWER.
Gray Forge Continues to Rule Fairly
Steady but Quiet.
STRUCTURAL IRON IN GOOD DEMAND

FRIDAY, Oct. IA.
Pig iron shows unmistakable signs of i'm
provement at most of the consuming points
throughout the country, and, with the ex-
ception of an occasional weak spot, the mar
ket for most kinds of finished material con-
tinues satisfactory. The influences that
nave been at work in crude material during
the past six weeks have had the effect of in
creasing the strength of this branch of the
trade to marked degree. The improve
ment has not been owing to any sudden in
crease in the sales made, since buyers, as a
rule, show great conservativeness in pur-
chasing beyond their pressing wants; but it 10
largely due to an extension OF the confidence
ana better feeling than have been mani
tested in the trade since it became recog-
nlzeo tbat consumption and production
were more nearly equal
AS yet, however, the market has shown no
lmportanI change In values. Some of tile
furnaces report orders booked sufficient to
take their output during the balance OF the
year; others, while adhering firmly to the
existing quotations, are disposed to ask
slight advance for new business, especially
ior deferred deliveries. One of the leaGing
brokers says that one of the furnaces sent
word to sell no more mill iron below sl2 75
Wnlie other furnaces were selling at SIP 80.
On the whole, the present situation is one.
i'll which manufacturers find much that is
encouraging und the prospect for better
business during the remainder of the year.
Two Opinions on the Situation.
"Cold Short" excellent authority on raw
iron, has this to say: 81 adhere to the
opinion previously expressed that as soon
as matters can be Strengthened legitimately
Bessemer will not only catch up but it will
relatively distance the other grades OF pig
metal"
There is considerable difference in the
views OF leading dealers. Some specialties
nave an upward drift, others have a down.
ward tendency; some are absolutely feature |
less, so that the ultimate outcome is mat
ter OF uncertainty. "The inquiry for pig iron |
IN the East, says an Eastern dealer, "has be- |
come such that sellers are declining to enter
tne long time orders and none. so far as can |
be learned, are milling to quote prices for |
delivery later than December 81 Consumers |
are not worried about the situation, appar-
entity believing that the advance If any
Will be small and that it is better to run tile |
r1sk than lay in stocks. Their orders, how
ever. are u little heavier"
Closing Temper of the Markets.
The latest trade was reasonably active so |
far as the volume of business was concerned |
Prices. however, for most descriptions were
not very satisfactory. Bessener ranged
from $l3 6o@l4 co. gray Jorge, sl2 4O@i2 80; steel
billets firmer, with sales 10000 tons ut So 75
being 75 cents above the lowest sale last
week. Structural material was active at the
following prices: Steel beams. 2 I-10@2 2-l0c:
2Q2 l-l0c; angles, l1S@2c; tees, 9 40
Q25Oc; bars, 2. Oo92. 15c; steel mill plates,l7
QlSOc. Scrap material firm and active, ana
old iron rails scarce and wanted. Follow
ing are the sales reported this week: