Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-03-18
NOT A GOOD OUTLOOK.
Signs of the Times That Point to a
Continuance of Dullness
IN ALL OF THE METAL MARKETS.
Manufacturers After Fig Contracts for
Future Delivery
AT THE PRESENT LOW RATE OF PRICES
-sPFcIAL TELEGRAM TO THE DISPATCH. \

,spRcIAL TELEGRAM TO THE DIsPArcH.1
NEW YORK, March III Special. 1.-THE
Iron Age tomorrow will review the meta
markets as follows:
The most conspicuous feature of the trans
further development of tendency to sell
crude material for a delivery during the
whole of the year at low prices. 1t is a con
fession on the part OF some makers, and
notably of the largest of them, that they dc
not hope for any improvement for 1892
Many leading authorities in the iron trade
do not go quite so far, but there are few who
have the courage to predict any improve
ment before midsummer.
Reports from the Mahoning and Shenango
Valleys are growing a little more definite as
to the blowing out of furnaces, and from the
'Lehigh and Schuylkill Valleys comes a SINH
lar story. But the aggregate capacity thus
involved is not yet great, and Is at least
partially offset by the blowing-in of their
new Southern furnaces. Florence, Clarks-
vile and Dora being named. Philadelphia
reports a sale of 900 tons of Alabama
, foundry iron at a low figure, for delivery
during the whole of 1892, and Cincinnati
records sale of g. 600 tons, the details of the
transaction being shrouded in veil of sus-
picious secrecy. In Chicago, SO. Birming-
ham. has been declined for a l00oo-ton block,
which would indicate that all Southern
some of the companies.
Southern Fusion Falls Through.
The fusion.of the three Birmingham COM
panies has fallen through, and the outcome
of the negotiations is that the Debardeleben
Company are absorbed by the Tennessee
Company. From different markets come re-
ports of moderate activity in charcoal iron.
Bessemer in Pittsburg has settled down to
sl4 So Pittsburg reports two large transac-
tions in billets, one lot of 10000 tons sold by
Wheeling mill for delivery during the
balance OF the year at S23 25 and further
sale of 5000 tons, delivery up to June, at
s22 70. In the other markets little has been
done.
Rails have been more active. Western
mills have taken the greater part of 5000
tons for the Baltimore and Ohio 10000 tons
for the Southern Pacific. and upward OF l5
0G0 tons for the Pacific Coast. Some interest
is shown in the results of bids on q small
order for Lake Superior. The New York re-
port gives the details OF an interesting trans
action in foreign rails, which shows that the
English market is getting perilously near
the lowest figures on record there.
In manufactured iron and steel there has
been little news. Chicago notes little more
activity in bars and plates, ana Philadelphia
reports large transaction in sheets, but on
the whole there is little evidence of improv-
ing markets. On the contrary, facts crop
up at times which indicate that values are
still receding under exceptional circum-
stances. We may note sale in Philadel-
phla recently OF foreign BesSemer ore as low
as 631c per unit.
Copper is having a little boomlet of its
own on the strength of the understanding
among producers. Mines which last year
produced 22s 600 900 pounds are going to re-
strict their 1892 product to l50 O00, 900 pounds
The other metals are dull.
The Foreign Markets Reviewed.
The foreign markets are reviewed by
cable from London as follows:
Prices for pig iron warrants, while irregu-
lar, have averaged somewhat higher with
business in Scotch at Ais, Cleveland at
36s 71Sd and hematite at 46s Sd. The trans
actions in Scotch have been moderate, but
dealings in Cleveland and hematite larger
than for some time past. The incentive to
freer trading was the opinion that the coal
strike and cessation of work by 100000 col |
lfers, with forced suspension of operations |
at many large iron works, pending develop |
ments, will, lead to still higher prices. |
Stocks in Connals stores have decreased |
some what, the latest returns giving 496, 600 1
tons Scotch, and l53 0c0 tons Cleveland.
Copper has been active and strong, with
an advance IN prices of about f2 during the
week. Better demand from consumers has
helped the market. but the chief incentive
was renewed reports of restriction of output
in America and of European producers hav-
ing been approached by American pro-
ducers with a view to join action. Reports
of a cave-in at the main shaft of the Ana.
conda mine also had marked influence
upon prices.
Pig tin has been almost neglected. About
the usual business with consumers has taken
place, but speculative interest appears to
have been centered upon copper almost ex-
clusively. Demand for tin plate has been
slightly better, with the call chiefly for
cokes Tor Russia and Frisco. Charcoals and |
ternes are still unusually slow for the sea-
son.