Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-02-20
IRON TRADE REVIEW.
The Market Here Goes From Bad to
Worse in Some Lines.
CAUSES ASSIGNED For THE SLUMP
City Furnaces Still Refuse to Shade
Prices to Make Sales.
COMPTON OF BUSINESS ELSEWHERE
.AUSES ASSIGNED FOR THE SLUMP.
CONDITION OF BUSINESS ELSEWHERE
OFFICE OF TIE DISPATCH.

P---SEtrG FRIDAY, February 70.
BAR Tf.aN AND STEEI.--We regret to
note that there has been a decided change
for the worse during the past week. This
hes evidently been brought about by COM
biuaii1n Of circumstances Among them
was the hraahing of the agreement between
the steel plants of Wheeling and Pittsburg
re-srding prices of billets: 1t is now 60
a--voU-pleaSe between them. Instead of
steel billets selling al S25, prices are to-day
down lower than at any time during 1891.
Mex came the dissolution of the Beam AS
s0eiasjon, followed by a material decline
which was felt outside the comparatively
small interest directly affected, and there is
more or less decentralization throughout the
trade Again. pig iron is still being pro-
GUced largely in excess of demand, and the
surplus is steadily accumulating in the
hands OF furnace men. From these facts 1t
isevident thar the outlook at present is not
d favorable one hy any means and viii ac-
count for the shrinkage in values.
Haw Iron and steel Prices Too Low.
A. usual large dealers view the situation
differently. Each can make an argument
that almost converts people to their way of
reasoning. Then comes the other side with
arguments entirely the reverse, leaving one
iu d0EH. which party has the best side OF IT.
One thing on which both sides agree is that
prices of raw iron and steel are away below
vhat they ought to be. February prices of
Jas. wear were rs follows: GRAY forge, 81 so;
E-s>emer. S16 %: steel billets, $40 40; steel
s.aa-. so -: muck bar, S2I 80.
The prevailing condition throughout the
trade is not so much a well defined dullness
81. feeling OF uncertainty as to what is
likely To aa9acn next. A moderate business
is n.in- transacted. but at irregular and un-
certain prices. and there is disposition to
o. .iUst prices TO the views of BUYERS The
cafacirv of furnaces in blast at the present
I;Ie is ~ the rate OF about $500, 600 tons
Ter anrum. unmstakably far in excess of
The cou>umrtion. with due allowance for in
crease thar may result rom present low
Irie.. for many varieties of manufactured
1.u4ugts.
!; Eai- Run OF Steel Rail Orders.
steel rails are in fair condition. with a
fair ran of orders varying from small lots to
g.utre,c- sci 5000 tons and upward. East
era mills have sold p, o00 tons Tor delivery
ar far western and southern points, ana the
Louisville and Nashville isrcported as hav-
ia. bought about 1910 tons from Western
l.5lls .or early delivery. Prices here re-
main fern at $50 at works Valley furnace
}. .ya we're in Town curing tne week ana sue
c-pGnl in placing block of 5000 tons of
I3---emer for March, April and May de-
livery sJ figures netting S14 20 at the fur
I.ac.. This : certainly very low figure,
D. ing equal = SO, Pittsburg delivery, in
cirliue freight and brokers' percentage
Cll iron and sgeel rails are dali; prices
weak and uncertain. Scrap material seems
ln have no value; sales much re-
-ricled Steel wire rods have declined.
lrar ore-A few sales were made; tonnage
small: prices weak. Skelp iron-Demand
moderate: last weeks prices maintained.
LNTEsT-Narket weak prices irregu-
lar. The low prices OF Bessemer insured
sales ci 10000 tons to Pittsburg parties
Staei billct~-SaleS show up fairly well at a
i"w range OF prices. Muck bar dull; no de-
m&uL Charcoal iron steady; sales limited
1o tae Hrcsens wants OF consumers. We re-
port the following sales: