New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-12-15
CONDITION OF TIE IRON TRADE.
rAII. PURCHASES TIE FEATURE OF THE WEEK.
THE PITTsBUHG MARKET
THE EXTGiVAGAST FILL

FAIL PURCHASES TIE FEATURE OF THE "HEh
THE PITTsBUEG MARKET.
Cleveland. Dec. 1.-THE Iron Trade KeVif" gay >
to-day: "The beginning OF rail purchases io' ''.. "
the feature Of the week In iron ana Steel Inc
PENNSYLVANIA Railroad * first TO place any consd-
cradle contract and while the 5000 tons OF eish'S
ave-pound rails bought are but little more than t"o
thirds of last years purchases the expectation II
that the requirements FOR 1894 will round up close
10 the total for 49, The prices PAID were FL AZ INC
three Eastern mills among which 5bVp IONS Weie
distributed and So nj the single Western mill In
the pool Late limitations are that western roaus
will make good-slZed purchases OF rails TOT leff
only portion Of their requirements was covered py
the limited contracts placed this year ana mere are
reasons for expecting that compromising oruers VIII
be given FOR the coming twelve months III Is s'a'"
that the 5000 tons Of the Pennsylvania order given
to Eastern mills went to Pittsburg, Cambria ana
steelton concerns II the Stcelton mill Is actually
to make rails in 1884, there would seem to be de-
parture from the programme previously announced
namely that a 30.CJ-ton order had been given u"
the Maryland Steel Company and a l"vr-ton 3rder
the Pennsylvania steel Company. the huEer peins
the pool and that $5ovJ forfeit ~ put UP on me
Maryland steel Company order ana $500 on VIZ
other The further stipulation li!a' h'tt'., IN -
Is take other order Tor rams unul h' oIp.ls
in question are hiled would seem IKE a very H, ~
crcumlocution for buying me TWO pant. ou' V 'H ~,
POOLS way In 1894. The outlook now j. that the -
,nd IS 1Stes sT w be cSSae o po sSf " TIE ne"
Reports from the general market indicate par
not forcing sales In view Of the condition or theif
order books. and meters OF iron outside OF pipe
fOunlrles report continuance OF IN" extreme dn-
ness that has marked the past few months; and
with ppcmen the contracts taken recently nave
been a mere matter Of going through the motions
At a cent a pound for their product they can
hardly claim be- doing business. The blast FUR
mace reports for December ! indicate an Increase
over November ] in the number Of active stacks
amounting TO about 5000 tons. the amount on hand
December being estimated at close to tp.oH tons"
Pttsburg. Dec. IA new factor In the Iron
ana steel market at Pltshuig Is he IRON ore stua
ton Late statistics show That i."1"o tons OF iron
ore are now stored on the Lake Erie docks ut the
four important landings. This j. almost as much as
there the preceding year before prices came
down. The production Of ore has not been cut down
proporfonatey with the reduced production OF iron
and dealers SEQ cheaper ore ahead OF fleIu
This feature q the situation is having weakening
effect tho Iron market As evidenced by lower
prices for 81 years deliveries. There are further
deals in stec, hiilets and Rerscmer iron pending In
this market They VIII hardly De closed this week
There g. also order IN the market FOR e01o tons
Of rev steel rails Tor trunk line which ~" Car
nogic firm g. considering. There no other new
features IN the local situation and prices remain
nomi1tliy unchanged.