The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1890-01-18

these cuts, and II Is believed that the fur
naces interested have already nearly filed
| their books. In northern irons there has
been steady Strengthening In prices.
| Strong Ohio foundry irons average 81
higher than at the middle of December,
and there IL marked scarcity. Silvery
softeners are In somewhat better supply,
but all the furnaces are well sold ahead
and shipping as last M they make. Old
car wheels drag and wheel irons generally
have not advanced in keeping with other
branches OF the market. The new year
opens i'm the Chicago and Northwestern
market in very different way from a
year ago. All the influences are strong
and active and i'm spite OF holiday de-
moralzation good deal OF business is
reported. Lake Superior charcoal irons
have made another advance and sales
ut $23. 80 cash have been made. IL is
doubtful II much could be secured even
at that figure The local coke irons are
practically withdrawn from the market.
Southern irons are again being taken,
the northern prices having advanced
sufficiently to meet the figures at which
southern stock has been held. The de-
mand ~ widely distributed and. SO lar,
is met without difficulty by outside fur
naces. Prospects FOR the new year We're
never more healthy and promising in
Chicago and the northwest. Contracts
made during the week, at ST. Louis, were
nearly all for delivery several months
ahead, The prices obtained were less
than most OF the furnaces would accept
and show that a few southern sellers are
willing Co shade quotation to fill their
order books. The volume OF business,
at Louisville, has increased during the
past week, but the Developments during
the last part OF the week have disclosed
sales at prices very much under paper
quotations. Some furnaces hold out for
full figures and are hopeful of further nd
vances: but it il evident that they are
not all OF this turn OF mind. and that
some are accepting business literally at
considerable alteration in prices. A
number OF speculative lots have also APP
peared upon the market at lower figures
few furnaces have added the forty
cents advance i'm freight to their prices,
while others have not takenit to account
in the same way. The general market
conditions for coke iron ARE regarded ms
strong. The quiet condition OF business
ut Pittsburgh, noted in last report, con-
tinues and only limited quantity OF
raw material is changing hands. Fur
naces are, however, we'll sold ahead and
the present hull in sales causes no weak
ness in the market.
Iron oRE.--The situation is still one al
waiting and expectancy-the reaction
following the enormously large sales in
November and December. Every day
brings new evidence Of the fact that the
ore dealers have disposed OF all the
Bessemer they dare sell at this time.
This, however, does not preclude the
possibility oil a little more being offered
towards the close OF the 80 shipments,
after the present orders are filled. There
have also been considerable sales of non
Bessemer ores. but their aggregate ton
mage il small compared with the Bessenler
sales. Ii is expected that the market
will resume its activity within the present
month, but meanwhile the dealers IN ore
are not chasing each other about the
country i'm efforts 90 sell. The situation
rather iavors them, and it Is a question
Of but very short time until thefurnace
interests will bc active buyersnof their
material. The year will show AN
astounding increase IN the consumption
by central furnaces, of lake ores, SO that
the increased amount of ore mined will
be fully accounted FOR in At purely local
way.
PIC RoN-No sales worth speaking OF
are reported Tor the week and trade Is
very quiet Prices are firm, however,
without any change. The last sales made
here fix the price OF Bessemer a { $50, and
that of an all-ore strong No. l foundry
at SO 80 cash at the furnace. The lack
OF trade may be ascribed, perhaps, TO
the fact that furBhce-men do not exactly
know what Co ask, and consumers seem
undecided what to pay. No furnace-man
would he willing to offer n large lot of
iron except at n considerable advance,
while consumers, aware OF this state of
things, are chnry Of making many in
quries .on that account. That they
must soon enter the market, however. is
evidenced by the lack OF pig metal, which
appears from the many fifty and one
hundred-ton orders that are received
without reference Co price II is thought
that the end 81 tins month will see rush
for iron, more particularly SO since the
foundry and mill interests have been
neglected of late, and will want Co place
their orders for sufficient orders Co last
them. practically. for the season.