Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1894-10-26
The IRON TRADE.
southern Producers Invading Fields Here
tofore Covered by Northerners

tofore Covered by Nor,herners
CLEN o.. october 25.-The Iron
Trade Reyiw says today: Market con-
ditions are still furnishing arguments for
both bearish and sanguine views Of the
future. In raw material the predictions
Of those who began in September TO pre-
pare the trade for a slump have not
been realIzed-cer,a!nly Not to the ex-
tent conceded by the less hopeful. Besse-
mer pis has held It's own since the re
covery a week ago Of a portion OF the
ground that had been lost. and 81 is
the market to-day. In foundry iron there
is a fair demand In some selling centres,
with Indications that consumption is in
creasing. though slowly.
The chief southern producers are en-
dcayoring 70 hold prices IN territory IN
which southern iron has no competition.
In other markets they are meeting the
low prices made by northern furnaces.
In Chicago, on account Of this policy. the
local coke furnaces arr not having the
Held SO completely 10 themselves. \
sale OF southern No. , soft was made
there at $40 recently. For shipments East
some sales OF No. soft have been made
by southern producers at $50 at furnace.
Eastern reports indicate a more active
weak, NOR, business has developed in
that section In finished material the
aggregate Of orders I'm the East Is larger,
though the promise OF future business IS
not specially assuring. Several hundred
tons of iron plates were taken In one
Philadelphia order. The wrOusht-pipe de-
mand has caused some activity also in
skelp. There has been some improve
ment in the buying OF blllets for eastern
mills, Pittsburg sellers coming to basis
OF Sl77j to SIS. delivered at Philadelphia.
In most instances Pttsburg finishing
mills are stlll well supplied with orders,
structural contracts from the East help
ing out the large producers; but evidence
appears in the western market that some
sellers are crowding for business. Prices
in general are thus kept on low scale,
with an exception here and there Plates
have been advanced by one producer,
though the general market is not hrmer.
sheets are an active market. and the
shut-downs due To the tin-plate dead
lock have shortened the supply.
IRON AGE REVIEW.
NEW YORK. October 2j.-The Iron Age
has the following to say in regard to the
iron and metal trade:
Developments In the iron trade show
curious mixture u EDtl an UAl lev 30
ON the whole the Eastern trade seems
- feel a little more comfortable. VALE
the West displays symptoms of weak
ness.
SO far as Bessemer pig is concerned, the
stories of heavy purchases by Eastern
buyers in Pittsburg AMI the Valley Ma
honing) should be accepted with reverse.
so far as We can learn. the purchases
have been only from hand To mouth, and
have been on the basis Of so az valley
furnaces. or considerably less than Is
quoted for Western delivery.
The billet market IS weaker. with fl55p
quoted a. a basis for sales eastward
from Pittsburg and Wheeling. Practical
IS all the work In Eastern and Cen
:ral Pcnnsylvania small as to size Of in
diyilual contracts. but respectfully large
I'm the aggregate-is being taken by West
ern mills. Low-water mark on prices
has been reached in a 50QD-t0n contract
of mixed sizes.
The wire trade throughout IS very un-
satisfactory. with ugly cutting. I'M
wire-rOd market. too. T. very weak. o1d
SO % has become a general quotation
Rumors are flying thick AMI fast IN
the steel-rail trade. and an early gather
ing OF the makers is expected. Reports
Of the capture Of a .jQy)-ton order by IN"
Pueblo mill are very premature. X j.
true. however. that some negotiations are
going on. IT j. possible that matters for
next year nay soon be settled. In tom
mage 1875 should certainly b. better han
1874. with its pitlab,e record, mp to Oc-
tober Of a little over $1,000 tons OF de-
Uveries. and $1,000 tons Of sales quite
fair amount OF tonnage Is coming UP
in finished iron AMI steel particularly
fo~ Tho Eastern mills but there has been
NJ improvement. in prices.