The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1888-03-10
NUMBER 8.

bulk OF the ore now M lower lake ports,
will be az a heavy loHs, while the ore out
put, 20 he commensurate with the con-
ditions OF the marked, must iall fully u
million tons below that oi the past sea-
son. The reduction in the price Of coke,
foreshadowed In thcsecoIumns last week,
has taken effect within the past lew days
and talljes precisely with the tiguresgiyen
hast week, the price, Ia furnace men, now
being S1.50. II is claimed that coke
satisfactory contract can he made until
furnace men can get a prime coke at
81 % at the ovens. This, however, *
but a portion oi the concessions thnt
must bc made 20 the producers OF pig
iron il they are 20 do business AMI live.
Ore must be reduced at ieast seventy-fiye
cents and, some say, 81 II IL also
evident that this reduction cannot come
out OF the ore dealers for the very good
reason that they have no margin IN any
event; and 40 u il rather plain that the
lake-carrying trade must be- satisfied To
nibble off last seasons profits and de-
business this year M harl-pan prices
With each succeeding week that brings nv
ore sales, and, consequently, no charters,
the faces oi veSsel-owners are growing
longer, and the people who, at the close
of navigation, laughed 20 scorn any
quotation OF lcss than $3.50 from ASH
fo,l l.ox.a ,,.,v dtur,n,,ut..l fr.,,,, thai.
high and lofty altitude, and would not
object--on the quiet, you know-to make
a season charter at 81 30. The chances
are against any sales OF new ore i'm the
immediate future untila large proportion
of the ore now ON dock shall have been
converted into pig, and yet the tone OF
the rail market seems TO indicate some
sort of change which may be Of more
Importance than is now known, and the
slump may give way To "A iirmer feeling
before long. We quote without change:
No. specular and magnetic Besse-
mcr ORES per bVW bt
No. l spccuar mon Bessemsr) orss
per ton. ...,... ,.. ,...-..-........-..' ou@u %
Non. Bcssemer Hematites. ...........-.. 3 OoaS 90
Cleveland Iron Trade Review.
A ralmor was rife ON the streets during
the week that the Sheldon 4 Shaier mine
would resume work ON the first oi next
month, but what the foundation ~ the
story is the writer can not say. IL WIS
reported hast fall that the mine, or lease,
had been aold to a party oi Cincinnati
people and that they would work the
mine during the coming summer. Beyond
that nothing definite is known. Mr..
Shelden has not been here for some time.
James l.. Gates, ,..of Milwaukee, one Of the
heaviest owners in the Waunetta mine,
on section twenty-seven, 1892, claims
that the property has not been sold, but
that he will sell. 1t IL really to bad that
such valuable property should remain
idle, but so long as the present owners
control il there h not much chance oi its
being wrought.
Capt. Morrison, OF the Holister mine,
is tugging away with boiler to bc used
on the property. lie has been engaged
with it greater part of the week and
will have IL on the ground by tonight.
i In conversation with Mr.. Schlc-iDger,
Of the Dunn mine, the writer learned that
il is the intention Of the company To
mine 10000 tons Of ore the coming
season.
A double iourIoot Duplex hoistinr
drum is being placed in position at the
Dunn mine and will raise ore from No. 2
shaft.