Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-04-16
IRON TRADE REVIEW.
Another Dull Week and Falling
Off in Transactions.
FAIR BUSINESS IN STEEL BILLETS.
Prices of Bessemer and Gray Forge Weak.
but Rates Maintained.
HOW BUSINESS LOCKS ELSEWHERE
FAIR BUSINESS IN STEEL BILLET'
HOW BUSINESS LOCKS ELSEWHERE
OFFICE oF THE DISPATCH,
PITTSPURG. ERIpAY. Anril Is.

OFFICE OF THE DISPATCH,
PIrTsDURG, FRIDAY, April Is
RAW IRON AND STEEL-There has been
only q moderate degree of activity per.
ceptlble in some branches of trade since last
report. So far the second quarter of the
year does not show the improvement conf
IDENTIFY expected. The volume of business
falls tar short of the producing capacity of
the works, and, as q consequence, q number
OF mills are running on part time. Pig iron
sales were confined to limited amounts, in
dicating that consumers have little conf
dence in any improvement in values-at
least for the present There is, however, a
firm determination on the part of leading
furnaces to insist on fully quoted rates, and
in many instances the companies are re-
fusinp to book orders too far ahead. OF
course there remain the plants, which are
in such weak financial condition that it is
apparently necessary to realize on current
output, and the pressure to secure business
naturally has a depressing influence on the
general market.
Production Slightly Falling on
Production continues to show a slight
falling off as compared with a short time
ago. While production still continues
large, it is the opinion of the trade that
there has not been any very heavy increase
in unsold stock. Notwithstanding the firm
attitude of some of the consumers in buy
ing only as they require the iron, there are
others that have taken advantage of the low
prices of n few weeks back to anticipate
future requirements. These sales have as
sisted in keeping production and consump-
tion moro equal The stocking up during
the past three months has probably not
a eXDccted.
Mr.. Carnegie. talking about pig iron. says:
There is Il great over-productlon OF iron.
The making of pig iron has developed faster
than the demand for it for use in the coun-
try. The result is large stocks on hand and
low prices. We have trebled our produc-
tion of pig iron in ten years-that is to say
# has increased from $500 900 tons per an
mum to g. GOO, 900 tons for last year. There is
q greater increase than in any other staple
product of the United States. 1t puts us
ahead of Great Britain as an iron producing
nation. There must be check on produc-
tion or there will be such an over supply of
pig iron that prices will go lower yet"
Steel Rails and Finished Material.
STEEL RAILs-Thc general market con-
Times quiet and only small lots are taken at
SEQ at mills: Since our last the Tennessee
River Towing Company sent out five loaded
baraes for the South; other lots will leave in
a few days. provided there is sufficient water
FINISHED MATERIAL-There is decided
improvement in demand. The buying move
ment is one of general character, consum-
ers OF all sorts and conditions wanting a
little of something. Competition is exceed
ingly close however, and for som. special
orders prices have been cut worse than ever.
STEEL BILLETs-The demand has fallen on.
The large transactions during the past few
weeks have supplied the market good dis
tance ahead.
The LArEsT-Week's sales smallest for
some time Notwithstanding the dullness
holders were not disposed to make conces-
sions. Sales of Bessemer show a wide range
OF prices. Gray forge steady at last weeks
prices. Steel slabs and billets, sales show up
fairly well; prices evidently at the lowest
point Muck bar weak, but no lower. Steel
wine rods weak and lower. Scrap material
very dun and prices uncertain. Old iron
and steel rails weak: sales made at low
figures. 4 valley furnace man said yester-
day there would be no more furnaces closed
in the valley at present.