Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-01-02
IRON PREDICTIONS VERIFIED.
PRICES TAKE AN UPWARD TURN THE
FIRST DAY OF THE YEAR.
The First Report for '92 Shows Sales OF
7219O Tons-Holders of Iron and Steel
Very Firm-Rnssemer Men Want a
Further Advance.

7219O Tons-Holders of Iron and Steel
Very Firm-Rsssemer Men Want a
Further Advance.
OFFICE OF TIE DISPATCH,
PTTTSBURG, January l.
RAW IRON AND STEEL-The last iron
renort for 1891 will be found interesting
from the fact that it will contain valuable
formation-something the iron men have
been waiting on for long time Those
who have read our reports for some weeks
past are fully prepared for what is to fol-
low. Prices for the past two weeks have
been gaining strength. As an evidence of
this we learned of one firm
that were purchasers of Bessemer
pig to the extent of 10000 tons
within the past ten days at prices ranging
from 60 to 20 cents per ton above what the
same metal could have been obtained for on
the first of the present month. This fact
makes the best kind of reading. Unless all
indications fail, and strikes are put off, the
coming year will undoubtedly surpass all
previous records in the sale and output of
iron and steel.
Fixed Price for BiIIets and Slabs.
been assured. Since our last issue makers
of billets and Slabs including the Shenaneo
and Mahoning valleys, Wheeling and
Bellaire, have held meetings and agreed to
put the price at S25 and to make no reduc-
tions from these figures This movement
cannot fail to be beneficial to all concerned.
Several of the valley men that were in
town refused to make contracts for Bessemer
at SIS 70@15 10, their views being above
these figures. We heard of an offer at SIS
at valley furnace; this would be equal
to S15.70, Pittsburg. The weeks sales of
Bessemer show up the largest for a long
time; several of our city furnaces sold large
blocks for January, February and March
delivery. So much attention was paid to
Bessemer that other descriptions were in
measure neglected. Their turn will come
in regular order. The next movment will,
no doubt, be in gray forge, which rules
firm with an upward tendency, several sales
being reported.
Consumption Nearer Production.
The extraordinary large production of
raw iron has had no perceptible influence
on values so far, and all indications show
that there need be very little anxiety in re-
gard to it later on. On the whole there ap-
pears to be good reason for the opinion that
consumption will soon b. gin to have a
slight predominance over production as
soon as there is a general resumption of
work after the holidays. Even up to date
there are no evidences ofany overproduction
1t is q fact that up to date contracts have
been already assured that will require fully
100000 tons of raw material to complete
those which did not exist one year ago. Be-
sides, contracts have been closed for num-
Der of buildings and works that will re-
quire an immense amount of material before
they are finished. The wants of the country
are greater than at any former period in its
history, and at 10 period was the country
so we'll able to pay for anything it needs.
a Good Start for 1892.
THE LATEST-The outlook for the new
wear is about all that could be desired for
the iron trade. Prices of raw iron are on
the up grade. Things have changed wonder
fully within the past two weeks Sellers of
raw iron can remain at their offices: buvers
now have to do the travelling A short time
ago the situation was entirely different-the
other party did the travelling The sales of
raw iron for the last week in December, $780,
was %, 425 tons; sales same week in 1891
were 1880 tons; increase, 42,765 tons.
This indicates big business in the near fu-
ture The present indications are that the
month of January will see further ad-
vance in several descriptions of iron, more
Bessemer and gray forge.
Steel raiis-Holders continue firm, with
sales at $50 f. O. b. ears at works. Sales OF
billets show quite an advance. We may
soon look for an active demand for struc-
tural material.
COKE. sNELrEp LAKE AND NATIVE ORES.
6, ooO tons Bcssemer. delivered ., coo tons
january. 2.OoO tons February. 2oco
900 toms sray forge isi isas Is . cash cash