The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1890-03-08


10 be much larger. while the presence Of contln-
ned orders far railway equipment would indicate
that orders forcar wheels will also be of "a greater
magnitude Speculative lots do not seem 20 be
offered ~ freely as during the early part ~ the
month, aud evidently have been fairly we'll
bought up. The market continues strong. except
In spots. Foundrie- are very busy. and some
good sized purchases OF iron ARE looked for with
Ia the next thirty days Ia nearly all parts OF the
country. The situation has not changed at
Louisville since last report. the larger furnaces
declining to shade prices and consumers unwilling
to buy so that Il IL impossible TO effect sales.
save where furnaces are not acting In harmony
with the larger companies. spectators are
offering iron at CONCESSIONS Notwithstanding
some bargains have been offered TO those I'm
qulring for iron few sales are reported, AS buyers
are very much puzzled In regard TO the future
action OF the market and the naming OF low
prices causes alarm rather than induces TO buy.
There are indications. however, that the mae
tivity noted for some time Is passing away. and
before long sales Of some magnitude will take
place. IL II hardly thought however, that sales
can be effected at present prices immediately,
but that later on prices win be fully maintained,
Is the judgement Of those largely interested as
producers. and also Of many consumers who yet
sseel disincllned TO buy. though having confidence
IN the future. In the east and portions OF the
west. several round lots have been sold. but Ia
each case In concessions IN price. The week has
been rather quiet az Cincinnati. IN all directions
Foundries aud mills needing 20 eplenish stocks
for present uses, ARE buying only what they re
quire for "A month or two ahead. Some large
contracts that have been placedhave stimulated
activity IN that branch OF the trade west. Lead
ing southern furnace companies have not yet
conceded cent IN their prices, and the result Is
that such business as has been current has gone
mostly 60 those having odd lots TO sell.
or 10 the few furnaces that are not acting In
harmony with their associates. Most OF THERON
Ia second hands is unquestionably disposed Of.
but there l. enough left 20 give buyers formid-
able club to work with whenever they heve oc-
cilsion 10 test the market shipments are going
forward rapidly on old orders. The market at
Chicago remains IA about the same prcdicament
as az last report Southern furnaces are holding
firm M prices they fixed some time ago, and are
not pressing for business. Some outside lots,
however have been sold considerably under the
market There IS n good demand for Ohio soft
eners AZ full prices. Lake Superior charcoal
iron l. still firm at last quotations, and no ike
lihood of It's going lower II fnrnacemen will hold
freely together Another quiet week Is reported
from ST. Louis, with sales limited Co small
lots at close figures inquiries are increasing,
however, aud the market seems 20 be slowly
emerging from the dead inactivity which charac-
terized the first ak weeks ofthe year. Quotations
on southern coke irons are mostly above con.
suu,crs' Ideas: charcoal irons and Ohios ofteners
are firm AZ prices gwen. The market has been,
II possible more sluggish during the past week
than before al Pittsburgh. and some holders OF
pip iron are showing great desire 90 sell which ma
turaily makes matters ~ little worse than woald
otherwise be the ease Prices are easier aud
BUYERS claim that lower figures would be accepted
n firm offerA were made. The market remains
the same at Buffalo rs last week consumers
holding .on for concesslon.--lron Ore.--An
important factor IN the business OF 1890 viii be
the question 81 handling the immense output
which viii exceed the 80 product by nearly
thirty per cent. OF this increase, fully hall
million tons viii go 60 Chicago, leaving the lower
lake ports 10 handle 500 900 tons more than
they did last year This oi course, viii call for
Increased dock facilities. here and elsewhere. and
an extension 81 storage room by the railway
companies one Cleveland dock company Is en-.
deavorIne TO double IT. facilities by the opening
of NAVIGATION. aud the schleSinger people are re
ported 60 be building 23OO feet OF dock front in
Ashtabua 90 accommodate their Increased out.
put The vessel men, in the mcnntime are not
very anxious 90 secure employment and a great
many carriers that were chartered during the
season Of 1850 will 90 wild next summer, II their
owners carry out their present vicws.---I'ig
Iron.--'rhe past week has been productive Of
some considerable sales, divided pretty equally
between the BcSsemer, foundry aud mill trade.
but the prices have not been very satisfactory.
AT least not In the light OF prior expectations.
aud In view OF the fact that their il no pcrccpt.
able falling OF IA the consumption 81 pig mater.
sal. Prime foundry iron may bee quoted az $40
msIa5O cash. although sales at s2Oaw record.
cd This weakness Is TO some extent explained
Co the recent sales Of iron that had been In
speculative hands, and which found It's way TO
the consumer, 90 the exclusion Of the the pro.
ducerS Another and more general cause - found
i'm the fact that "a good many furnaces that were
started up last fall with the hope of selling their
product quickly at what was expected Co be
boom prIces-are now being plnched To meet
their monthly payments forore, and being com
PEELED to sell 10 meet their obligations ~ shading
quotations 20 no good as 20 themselves. and 10
the general discontinue 90 other and stronger
furnaces. who must meet the cut rate. Never.
thelc~s there 4. comparatively speaking so little
iron Ia the market that In the absence of any
denominations the prospects are favorable, IN
the near future, for increased demand and
stronger prices contingent, Of course. upon the