Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-08-27
A BETTER, OUTLOOK.
A Good Deal Of Business in Sight
and Prices Improving.
BEssEMER AND GRAY FORGE FIRM
And Holders Generally Are Demanding q
Slight Advance.
SALES LIBERAL IN ALL LINES

FRIDAY, Aug. 70
For certain descriptions of raw material
the demand is certainly improving. The
labor troubles are slowly but certainly
drawing to . close. The time for inau-
gurating the fall trade is near at hand
During the week q number of plants have
started up, some on single turn, others on
double This movement has given employ
ment to thousands of workmen, most Of
them having been idle since the first of
July. The change from intensely warm to
temperate weather will undoHbtedly have
an invigorating effect on trade generally.
A better feeling has already been aroused
and confidence is making its appearance
Production, however. W i'll have to come down
to the point where anxiety prevails as to the
probability of obtaining supplies when
wanted. just as long AS the supply exceeds
the demand consumers will be easy ABOUT
their requirements, and producers viii be
found who will not only make concessions,
but force sales a almost any price they can
obtain. TIE rule that establishes liked rela-
tions between supply and demand, ana wnlcn
arbitrarily governs the price of all commo-
ditfes can neither be abrogated nor tempo
rarily set aside for the convenience of men
who recklessly ignore all the fundamental
laws of business.
Higher Priced Crude Probable.
The demand for all kinds of finished mate
rial still continues large, and, with most of
the mills full OF work, there is certainly
bright outlook for this branch of trade.
There has been no material increase in
the request for pig iron, but the great
activity in manufactured iron and steel, and
the fact that the weekly output OF the fur
naces has shown q marked falling OF, argues
strongly in favor of hieher prices for crude
material. There is O f1rmer feeling on the
part OF leading producers in various sec
lions, but the offerings on the part OF the
Southern furnaces at prices below anything
previously reported tend to keep values at a
low level. A number Of consumers are sail
ing close tn shore as to supplies, while others
have made liberal purchases of billets, Bes-
semer and mill iron, as the sales published
in this paper show. Stocks OF unsold pig
iron continue heavy throughout the coun-
try. but the decreasing production and the
increasing consumption will tend to elimi-
nate, in q measure this important check to
improved prices.
Plenty of Business in Sight
Finished material holds up better than
might have been expected. AT the same
time, the crude article has been less respon-
sive than was looked Tor. 1t is a difficult
market to estimate as regards its immediate
movements, although it is confidently ex-
pected to turn out favorable as the season
advances. There is a vast amount of busi-
ness in sight and in hand, and prices will
soon Do1ln TO SHOW I'll encouraging uORlO0
OF firmness There is 1rregularity, of course,
and in places where strength was confident
ly looked for 1t has failed to material1ze.
On the other hand. there is increased
strength where weakness would not have
caused any surprise.
A Big List of TransactIons.
Last week the outlook was reported favor
able for business in the iron trade. The
sales reported below confirm that view OF
the situation, the first sale reported being
10000 tons of Bessemer. The sales of the
week show up well, prices for all kinds of
iron have been well maintained, standard
brands in all cases being preferred. Steel
billets sold to a fair extent at last weeks
prices, prompt delivery commanding the
highest figures. The iron men who have
been absent on their summer vacation are
beginning to return, and all indications
point to material enlargement of the vol
t1me of business. The sales of the week fol-
low:
coKE-sMELrED LAKE AND NATIVE ORE.
10, 900 tons Bessemer, September, Octo-
ber. November. at valley fur