The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1890-02-01

for some time 10 come Production, as
shown by the report OF January 1, is at
the lowest point Tor several months, and
H. apparently being reduced rather than
increased, while demand Is very active
II is stated that - 600 tons have been
contracted for Use in making steel, this
being about one fifth of the estimated
OUTPUT. There have been inquiries for "A
large amount 81 Lake Superior charcoal
during the past week. wi1te WIN. T.. Jar
vis Il Co. Detroit, and several orders for
round lots have been hooked. should
inquiries received result in orders u is
very probable prices would he forced up
another notch instead OF a lull in the
market as was anticipated, there isevery
prospect OF increased buying. The de-
mand is moleior Lake Superior charcoal
and Bcsscmer Foundry irons are not
asked for except in small quantities, and
on some brands a slight weakness IL
shown. The market continues very
quiet at st. Louis. and sales are confined
to small lots. Southern furnaces are
holding coke irons at the outside figures.
believing that after this lull. demand
will spring up sufficient 90 send prices
somewhat higher. There has been some
increase in the volume OF business at
Louisville, during the past week. Some
prominent concerns have placed orders
to cover their contracts for supplies
which comprise various grades and
qualities Of iron, Tor early and future
delivery Prices have remained about
the same, with tendency on the part Of
some companies 20 shade on round bust
ness. The lull in business at Pittsburgh
continues as before reported, and some
holders al raw stocks have been showing
a good deal more eagerness to find buyers.
This has given a weaker tone to the mar
kct and since concessions are reported in
both Besaemer and mill iron.
There * very little To report in the
way Of news beyond the rumnrcd pur-
chase, by the Schlcsinger syndicate, Of
another mining property. The details
of tie transaction are AZ yet unknown,
but the deal is to be closed to-day and
means the transfer of "A well known and
diyidcnd-payiug property. Local ore
dealers report n few minor sales OF non
Besseincrs, but the aggregate Of the weeks
business is small, compared with the
tremendous amount oi ore already sold.
It is reliably stated that some large in
vestcments are Co be made this year
upon the Gogcbic Iron Syndicate lands,
in the vicinity of Epson. and that some
new ore beds are to be made accessible
rs soon ns the weather will permit
Certain IL il that the Improvement in
prices and the certainty of the consump.
ton of every pound Of ore that the Lake
Superior country can produce this year,
have done much to revive the speculative
fever OF a few years ago, and u would
not be- astonishing to see another raid
upon the ore country byprospecturs and
investors.
The market IL characterized by the
absence of any business activity what
ever, while prices remnin very firm.
Indeed, one may be- In doubt as 60 the
prices quoted elsewhere fully justify The
local quotations, aud 80 they may be
still said 90 be- in effect. strong, all
lake ore, No. / foundry iron Is worth
$50 cash ut the furnace, with No. 2 ut
SO and prime mill iron at SlS.25 and
$3.50. Yet special brands of foundry
irons are worth dollar n ton more, and,
~ a matter Of fact, one large furnace has
thus engaged its output for the next
four months at S2l cash. Bessencr il
held firmly mt S24 and, when the con-
sumefs again enter the market, will climb
up rapidly. For the present, no one Is
particularly anxious to sell, and no one
will care Co sell "a great deul until the coke
question shDll be settled. In the mean
time, all the furnaces are taking In M
much coke as they can find room for, i'm
anticipation Of the strike ON February /.
The statistical table occupying spnce
nc the top 81 this page Is taken from the
Marquette Mining Journal. liz gives the
total output OF the iron mines OF the
Nenomince Iron Range since it, opening
in 1877, up 20 December 81, 1889. also
the output by years OF the mines of the
Marquette, Gogcbic and VcrmiIion ranges
The editor hereof has taken the liberty
90 point out the mines 81 the Crystal