The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1890-09-20


The majority Of furnaces are maintain
ing firm front and holding their pro-
duct at quoted rates and are apparently
in "A very good position. The course al
the Pittsburgh pig iron market during
the past two months has been quite Il
disappointment To furnacemen. Not
withdrawing the high prices ruling for
labor and for raw material and the adj
vancing prices OF many kinds OF finished
iron, the demand for metal has not
equaled the supply, and instead OF the
expected advance prices have really
grown weaker IL IL thought, however,
that cooler wea Their will render "a larger
consumption possible and that the next
month or two will make more iavora-
BILE showing For st. Louis we have to
report another quiet week, with light in
quiry and lighter sales. Whilst some
grades are scarcely obtainable, Others
are pushed Co the point OF making con-
cessions; and i'm the same way, some
furnaces appear hungry for business,
whilst others refuse business ut full
prices. The wholesale hardware men
throughout the country have every rea-
son To be satisfied with the present con-
dition OF their business. There has
scarcely been any such thing AZ dullncss
during the summer, and now that the
harvests are over the demand from
farmers for all kinds OF staple goods il
steady and encouraging. The activity
is all along the line, and all branches OF
business men 90 be "on the Jump. -
Iron Ore Mo sales can be recorded the
past week for the simple reason that no
ore il offered for sale. The non-Besse-
mers are so nearly exhausted that NO
sales agent would take the risk Of selling
another pound, and while there is still
on hand "A very small quantity OF Besse-
mer, the holders are rescrving il Tor their
customers rather than offering IL indis-
criminately, even mt the higher figure.
The continued complaints of vessemen
as TO delay experience at the ore ports,
are daily growing in volume, some OF the
larger vessels being held from week TO
ten days, waiting for load OF ore To
bring down. Under the circumstances IL
is more than likely that suits will be-
brought Tor demurrage, and, unless the
daily ore output should be Immediately
trebled, about one-half Of the fleet is
liable to lay up from month TO six
weeks ahead OF time. At Lake Erie
ports the railways are hlst stripping the
docks Of the ore piles, the furnaces having
made room for the storage OF their ore
supply Pig Iron The market, ns II
whole, is steady, with occasional tiurries
now and then, induced by n speculative
sale or two. The conditions, however,
are 80 unfavorable to anything like "A
fictitious movement all along the line,
that the price il hardly disturbed by
these temporary declines and advances.
There is no question but coke is far too
high compared with the price OF iron.
Yet, for all that, the coke makers seem
TO have a good thing OF il, since they
are able To place their entire output.
Perhaps the shutting down Of ~ furnace
or two, that can't stand the combina-
ton al high ore and coke prices, will
convince the coke pool OF the unwise
stand it occupies. One significant hct
i'm that direction is found in the accumu-
lation by the Edgar Thompson work, Of
75, 900 tons OF coke, 90 be used when the
works shall get ready TO cut loose from
the coke combination. Bessemer iron is
only fairly active at $3.50, cHsh at the
furnace, and the price Is triile wobbly.
The foundry business is steady, but with
out any special demand, the price varying
from $16.50 to $17 for No. 1. according
TO the brand. Charcoal furnaces are out
Of the market, being unable 10 produce
within twenty-five per cent. OF the enorm-
Gus demands made upon them by the
makers OF malleable iron. The price Of
charcoal iron, wherever little can be
bought, is $21 here.