The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1890-09-13

relief, not only by adding additional
monetary supplies To the floating cash
avnila hle for bank reserves. but by Civ
ing an active impulse Co the public con
fldence and adding Il new stimulous 20
the movements az the capital in the
greater channels of the money market.
All this will have salutary effect upon
the iron market. md already the signs
are plenty az a marked revival all along
the line, as the first day of fall comes in.
Most oi the southern furnaces report
heavy inquiries for iron-mill grades es-
pccially-and nrge sales at full prices.
Agents at the principal distributing cen
tiers confirm this, and point To the con
tinuous active consumption, as indicat-
ing higher prices IA the near future. Van
derbilt furnace, az Birmingham, blew i'm
on the Odd ult., and two DeBardcleben
furnaces on the 22d, all helping 90 swell
the output, but still the demand keeps
up Northern stacks are reducing stocks
and are indsposed To grant concessions
except i'm rare cases. An active demand
for and heavy sales Of mill has formed
the prominent feature 81 the Cincinnati
pig iron market during the past week.
EnCly snlcs gave evidence of anxiety To
sell off grades. hut mrge transactions
gave an improved tone to the market
in some Instances for southern grades.
IL is difficult To duplicate sales OF mot
tied and grey forge made a few days
since. l There has been "a moderate bust
ness I'm foundry grades, and n steady
movement ln ear wheel irons OF both
northern and southern production. Sew
ernl Of the Lake Superior furnaces ARE
well sold ahead ON the high grades and
are refusing orders 81 moment at fair
prices. The output at the new furnaces
which have blown IN Is being readily alb
sorhcd at current market prices. A more
confident feeling prevails at the close.
and inquiries are numerous. A point of
interest Is the increased demand for
muck bar. outside the regular channels,
rejecting the heavy orders placed for
finished iron which is reported selling Mt
higher prices. There has been a fair
amount Of orders entered FOR pig iron at
Louisville during the week. though in
quries have exceeded the offerings. Bar
iron has preceded pig iron IN price, which
il doubtless OrcasiOued bv the facilities
for the manuihcture oi bur iron being in
ADEQUATE tu the demand and this ns one
feature tends To strengthen PIG. Some
special brands 81 coke iron are largely IN
demaud at good prices. Generally there
il no Improvement ia prices but furnaces
hold firm. The past week has not shown
any large degree ~ activity at Chicago,
Int "A small run Of moderate sized orders
have been booked aud there j. u percep-
tihle increase IN the WY 81 inquiries,
some of the butter for far cXtcndcd de
liycrics. inlicniiur q disposition to pro.
vide for future requirements on the part
of consumers who have not fully covered
their needs Silveries and soft irons are
in good demand and some grades Of the
former are decidedly scarce. Little ac-
tivity has been noticeable in Lake super
Tor charcoals. but this is explained by
the large contracts which have been
placed during the last three or four
months On southern irons the leading
furnaces are well supplied with orders
and are not pushing for much further
business Foundries are generally well
supplied with work, aud the outlook for
fan trade continues good, notwithstand-
ing crop shortages in certain directions
In St Louis inquiry IL light, and orders
have been taken during the week by the
agents OF several southern furnaces (pos-
sessing freight advantagesl az subStan-
tial concessions from quoted values. |
This unnecessary cutting does not in
crease the volume 81 trade; but 10 does !
dcfnoralize the buyers. The coke trade |
continues 20 improve Cars were more
plenty lust week, and shipments went CA
az a lively rate. IL Is becoming more
apparent every week That a short car
supply il the only possible obstruction 4
in the wny az booming good coke bust 4
ness this fall and winter. The capacity 1
~ the Connclrvillc region j. now over s. |
600 ears per wcck-iron orc. LIN the ali /
sence 81 any noteworthy occurrences la /
the iron ore markets heiraboutS. the Co 1
erhic district comes TO the rescue with -
tremendous sensation which would la ~
the most far reaching consequenccr-ii 1
there were the slightest foundation for
It's truth. The story, ~ IL Is impaired |
To- the Lake Superior people 10y a well /
posted" man is that the consumers ~
ore hcrcawayS have formed gigantic /
conspiracy with the object. first. to hold /
down this seasons otc shipments and, |
second To brnr the price for 1891 out !
put The operation of this conspir,cv4
WAS 90 GO into effect 10y the blocking 81
the lower lake poi D. in tho refusal az the |
conspirmtors TO accept any orr from the
docks, thus rObbing the ore ports q their