The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1890-07-12


though inquiries that selling agents are
still receiving plainly Indicate that some
considerable quantities must still he
bought. Figures have remained nomi-
nal. except in spots. where about fifty
cents per ton advance over lowest June
prices IL being asked aud obtained" The
dcmnnd at Chicago for iron in all forms
keeps up To a degree that Is unusual at
this season Of the year. Not only pig
iron but manufactured forms are called
for freely at ruling quotations. Some
considerable sales al Lake Superiorchar-
coal irons have been made at prices be-
low what leading companies are willing
Ia consider. The statistical position of
this speciality. however, is strong and
better prices are expected later. Ohio
softeners continue 10 be called for liberal
~. Southern irons are not SO freely sold
on account cf being firmly held at out
side prices Old wheels and rails are
quite scarce and are held Tor higher
prices. The ST. Louis market this week
is quiet, although the tone is health, and
sustained at previous figures. Whilst
consumers in general admit that there is
mo- prospect OF lower prices, they are
diflident about covering fall require
ments, and sales are mostly limited to
current needs Iron Ore. There basn't
been sale Of ore these two weeks, and
the immediate future does not seem to be
productive OF any activity in this line.
The furnaces that were expected to run
out Of ore before this, still keep on run
ming, and there has been mo- general move
ment, thus far. TO GO out of blast. On
the other hand il is contended that the
situation is subject to sweeping change,
in that respect, at almost any day, and
that il Is to go into effect Immediately
after the Fourth The dealers appear TO
care very littlcabou the conditions gov
erning the market. They are perfectly
satisfied that sooner or later there will
be "A demand for all their ores still unsold,
and until that time they are content 90
wait, holding up the price in the mean
time The freight market shows n pecul-
lar condition in that SO nearly the entire
lake fleet Is under charter, the number OF
wild boats being SO few as 20 almost wipe
out that factor. In consequence, chart
ers remain low, 81 20. $1.l0 and eighty
five cents, while the demand for bottoms
TO carry ore is ON the increase. Ore
carriers report much difficulty in obtain
ing dockage at lower lake ports, and the
dock facilities are already taxed TO their
utmost, while the railways appear 10 be
losing ground rather than catching up
with and gaining ON the ore piles. From
the Lake Superior country the news
comes that the ore in many pockets Is
being trimmed TO make more room,
something that has not happened in
years TO ndd To this uncomfortable
state, conl irtights are booming, and II,
as is likely To be the case before long, it
shall be found profitable by some vessel
owners 20 take up coal and come down
! light rather than lose time with ore, the
situation is apt TO become interesting.
! -----lSlH liDn.--4NO tItIltt tiAli ~ ltli'iA'''
for the week, unless a falling of in trade,
customary with the approach of holi.
day, il to be taken into account. The
volume Of business ON the whole is fair
but its tendency is unsatisfactory in the
extreme TO the furnace interests. The
outlook for July is not very encouraging
and in the opinion OF leading producers
there will be considerable iron piled up
during the month, partly ON account oi
the shutting down OF so many mills. and
partly because OF the Discrimination Of
other consumers TO produce in round
lots. The furnaces as rule are not wei
provided with orders, at least with large
orders for long future delivery, and this
state is making itself felt IN "A market
that lacks tone and confidence. TIL,
consumption OF foundry is fairly large
but the purchases are made in small
quantities and mt prices altogether law
oring the consumers.