Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-07-09
IRON TRADE REVIEW.
Keen Competition Among Three
Great Sections the Past Week.
THIS is A TINE OF UNCERTAINTY.
Better Business Expected When Laaor Dis
putes Are Settled.
REPORTS FROM ALL LEADING CENTERs
OFFICE OF THE DISPATCH.
PITTSRuRG. FRIDAY. July

PITTsBURG, FRIDAY, July s.
RAW IRON AND STEEL-Business since
our last has been very much restricted, sales
being confined to limited amounts Makers,
generally, are handling business contracted
some time ago, hence there is very little
new business going on.
The uncertainty as to what is ahead has
the effect of stopping activity in most
branches of the iron business. In spite of
the slight encouragement that comes from
decreasing stocks. the pig iron market is
still ruled by a competitive spirit and
pushes the better day still further into the
future.
Eastern producers are reported to be in a
temper to give their Southern competitors
further sample of Northern cut prices, the
Lehigh district leading in this move as it
did in the early spring, when Southern ag-
gressions became too pronounced. The
effect of cuts already made in the East. to-
gether with the low prices at which Virginia
irons are being offered, has made compet1-
tion in the West from Southern furnaces
especially keen. A leading Eastern dealer
has this to say:
What an Eastern Man Says.
Buyers of crude material are not placing
orders for any quantity in excess of immedi-
ate wants. awaiting the outcome of the next
few weeks in anticipation that a decreased
consumption during the coming two months
may result in close competition among the
furnaces, and probability of better terms
bein- obtained. Prices are now so low that
it is difficult to see where Eastern producers
can make further concessions in view of
present cost of production, except in the
matter of extending deliveries further into
the future. When buyers insist on their
favorite brands, full figures must be paid;
but there is no difficulty in obtaining good
grades of iron at terms little more favor
eble than was the case some weeks back"
The labor question continues to depress
fire :ron and steel market Until that matter
= satisfactorily arranged business will be
....n fined to actual wants.
time and again since the first of the year
nnve consumers been led to believe that at
lest bottom figures were touched, and,
nile at the present time values are lower
than ever lore, a feeling of distrust is ap-
parent; consequently offers are at very low
figures, while they are Tor large quantities
OF steel slabs and billets.
But little new business is coming to light.
Consumers are very well supplied for the
present and the difference of opinion as to
values which exists between buyers and
sellers precludes the possibility OF business
1or later deliveries.
Prices of Thomas Company's Iron.
The announcement has been officially
made that July and August deliveries of the
Thomas Iron Companyis pig iron will be
billed at SIS for No. foundry and $l4 for
No. . foundry at tidewater. This is in ac-
cordance with previous intimations, and
may be accepted as unmiStakaDle evidence
that, in the lace of the curtaiment of pro-
duction in several districts, competition is
uncomfortably keen and supplies consider
ably in excess of consumptive requirements.
In other words, the reduction reflects an un-
mistakably weak market
The latest business, all things considered,
shows up fairly well, prices for most de-
scrptions being maintained. Bessemer,
sl4 0O6l4 25 according to time of delivery:
gray Jorge, S12 IS. Muck bar quiet and un-
changed. Steel slabs and billets were in fair |
demand, prices without change Spelter |
r,as in faI demand. Other articles show no |
particular change. |