The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1890-04-26

Witnessed since iirt roFttH' AN
feeling suddenly took possession OF the
largest buyers that the bottom was
reached and IL was time 10 SO in. On
some 81 the largest deals. under fierce
competition Of lending Southern COM
pnnies, prices were forced TO the lowest
limit reached since last midsummer. IL
is claimed that grey forge sold AZ low AS
$40. % cash ut Birmingham. and No.
foundry at S1o.75. II IL fair 10 sny,
however, that some report 81 the under
prices are as emphatically denied by the
leading companies alleged 20 have made
them M they are positively affirmed 10y
buyers. IL is certain that the great bulk
Of business placed was not under 5000
at Birmingham for grey forge and Sll.o0
for No. 3. while forward delivery orders
we're 1T twenty-five aud iiity cents per
ton higher though one or two important
exceptions in the matter OF long deliver
ics are reported. M. l and No. foun-
dry, being more scarce in supply and
more heavily sold, did not 60 as low,
proportionately At the close OF the
week, leading sellers wereieelmg decidedly
nrmcr. In some cases, they have adj
yanced prices twenty-five and fifty cents
per ton, and, ia AN eases rcIusingdeliver-
les for June or July, unless at higher
prices. There is no accumulation oil
stocks TO speak OF anywhere. AT St.
4 Louis, too, the low quotations made on
Southern irons have resulted IN numer-
Gus orders. Consumers are willing To
buy at present prices Tor scattered
deliveries throughout the year, but the
furnaces demand about n dollar advance
ON such contracts. Sales are based on
the freight rates effective April 10th,
which are thirty cents per ton less than
those now in force. We have To report
for Chicago "A steady Improvement IN
inquiry and more active sales at low
prices. This applies especially TO south
ern iron Local labor troubles are hay
ing some effect on iron Industries
depending ON building trades. For the
comparatively lew transactions oil the
past week, the J etroit market may be
reported as having remained steady on
practically the same basis as "A week ago.
We are able 10 report a decidedly IN
creased demand az Buffalo over last
week. Sales are OF sufficient number
and size 60 Indicate that at least "A CON
siderable portion OF the consumers think
the ruling prices an inducement Co
purchase. Pittsburgh buyers continue
TO operate with the utmost caution, and
such orders as have been placed are so
small az to have NO perceptible influence
: on The market The continued decline
has. So FAR, justified this policy on their
I part, but il hardly seems likely that
prices can 20 much lower in the face 81
the high cost now ruling. Iron Ore
/ Under the present depressed condition
I of the iron business ia general, 1t would
+, Ice useless To- expect any activcmovemeni
in the iron ore line. Indeed, holders O
n iron ore feel little encouraged TO attempt
= "A sale at this time, we'll knowing
the impracticability of Offering, at AZ
4, advance Of from 10 cents To 81 over las
:. years prices, ore, 90 be made into p
iron which to-day sells below the price J
commanded hast year--whcn ore wa
cheap. 1t must be considered, however
that the ore still unsold is but II SINAI
y Der cent. OF the possible output OF 1880
SO that the holders feel NO concern owe
= the eventual outcome OF the season
!: What little ore there rrill remains unsol
in Il being held at the full rate at whic
ir earlier sales were made, and no onecarc
lg particularly to hunt up market, "A
Is. this time. at least. The vessel interest
he are getting ready for the opening OF ia
ia season, and within the next week tll
~ inst cnrgues are likely Go come dowf
in weather permitting Charters are stii
- and the yersel men are not disposed I
he snake any concessions. Pig IRON
e, The situation il best described when
m is stated that a good BesSemcr iron CA
he he bought in the Valley at $3.50 easl
D. while an all-Orc No. foundry brings 81
at ON the same basis, with SIG for a No.
he and SO for foundry iron. There ~ y
H. apparent reason why Bcssemcr ire
ne should be sold for a less price than tia
tn obtained for foundry iron; but the
as was Just as little reason, some mont
az aeo. for asking S23and S2ifcr Besseme
ke when foundry wentat$lS. The Bessem
20 market il oycrtlonc, and the results a
Ike now coming home to roort. ltisprops