The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1890-06-14

tnolbn, HdNiuR Hclu dJ CIV. I'D ioI grey
forge, Birmingham, are now able toplace
their iron more freely. II il thought the
coming week will show large sales, and
were il not for the heavy production, a
sharp advance. Furnaces believe that
the coming month will show iron fifty
cents higher, and while disposed TO sell a
portion OF their product at present
prices, do not wish To cucumber them
selves with an unusual amount. The
market is strong at Pittsburgh, with an
advancing tendency. Bessemer is about
fifty cents per ton higher than il was a
week ago, and thedemand is active. Mill
and foundry irons are in good request,
but without much change in price. Fur
tract very far ahead. Instead OF the
dulness common in the Chicago market
at this period Of the year, there il unus-
ual activity. Buyers are rather more
plenty than sellers at current minimum
prices The bargains that were going in
southern irons have disappeared Local
brands also are frmcr. Lake Superior
charcoal irons are So well grounded, on
what the makers consider bottom, that
offers ON large lots at fifty cents per ton
under asking figures are promptly
declined. Business atSt. Louis continues
fair at unchanged prices. Nolarge orders
are reported during the past week.
Iron ore.-The reports under this head
which, during the past two or three
weeks, have appeared in these columns,
seem to have given rise 60 a great deal OF
criticism in the Lake Superior country.
| Some OF the opinions advanced 60 To the
extent oicharging Inconsistency for "first
giving utterance TO the prediction that
the 1890 output would be 1900, 900
tons. and then suddenly lowering the
! figure Go 1000, 900" As a matter OF
fact, no 5000, 900 output was ever pre-
dictcd in these columns, any more than
a 7,0O0,000-ton output. Six months
ago, the very large and unexpected sales
Ill, indeed, they presaged anything at
all-indicated considerable increase in
the 1890 output over that OF last year.
The state OF the market warranted deal
ers and producers in expecting an increase
for the current season OF % per cent.
and, voicing these opinions and expecta-
tons, without any home made addi-
tons, these statements were sent abroad
az being the opinions OF the iron ore
dealers. A little later, n retrograde
movement set in which lasted for five
months or more, and il is not 20 be won
dered that the dealers in iron ore under
went a change Of opinions as Co the bust
ness OF the year. A local firm ofore men,
doing the largest business on the chain Of
lakes, is authority for the statement Of
two weeks ago that, "unless the daily
receipts between this (that) date and
July /, shall be very considerably aug
mented the total receipts OF 1890 will
fall below those Of 1889" Well, July /
is still four weeks off, and there tx no
good reason for modifying the above
opinion. THERE'S sol far an increase over
last years shipments OF 100000 tons,
but the popularity Of this increase is re-
markable, in this, that IL oil comes from
the Gogcbic region, while there is mo- i'm
crease in the shipments from any 81 the
three old ranges. Whether or not this
increase OF shipment in Gogebic ore il due
60 the easier handling OF hcmatites,
remains Co be seen. Nobody denies the
fact that some mines have been unable
to get into their stock piles 90 the extent
Of shipping facilities. and IL may he set
down unless some 500 900 tons of non
Bessemer ores. yet unsold, find an early
market; that tonnage willnot be brought
down, whether IL il mined or not. The
docks ore now over-crowded with ore,
and the rail shipments seem To make
little impression upon this vast accounts
lation. The month az July will tell the
tale m to the business Of the current
season. Very little has occurred in the
market, during the week, in the way Of
one sales, but the Republic Iron com
pnny has purchased the West Republic
mine, into which the Republic ore dips.
The price was So per share. and OF the
10000 shares all but two hundred chang