The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1890-11-15
THE WEEK IN IRON CIRCLES.
GENERAL FEATuTEs or THE TRADITION
oRE-PiG IRON.


The Cleveland Iron Trade Reviews
resume OF the week Ia iron circles General fcsa-
turps-The central western states have inst gone
through exciting political campaign which.
II not AZ significant ia results "A national CON
test. still possessed many features Of more than
mere local Interest since la this section was
fought the great battle 81 supremacy IA the next
house Of representatives. n A. yet too early 10
that the friends 81 our present national protec-
ton policy have much rpaSon 70 be dlsheartrll-
has been somewhat neglected for the mon. exs
citing events al hustings and as usual, Comren-
satiou Is found ia the study al the situation
abroad. By - singular coincidence. the pig iron
market ~ Great Britain presents features Of
striking similarity 60 those which have been
noted Ia tbcae columns IS prevailing In our
American markets for the past few weeks.
From the report OF our Manchester corfesaon-
dents we learn that there has been "A steady de-
cline IN values since the first ~ Oetober-a con-
dtion uf things painfully similar 20 our own.
la the money market "a state of affairs that
American iron manufactures win understand
aud appreciate. Regarding our home markets
~ y % be noted that the past week has only
contributed 20 further compHcate the situation
a. 20 pig iron. rather than 90 dlsentnngle it.
At Detroit for instance the condition of affairs
as 10 pig iron II decidedly mixed There Caa De-
no doubt but that certain grades of metal are
as weak as he greatest pcssimi-t could desire.
To offset this to a certain extent a very refresh
Ing strength IL seen where tho demand Is confined
Co Lake superior charcoal and northern Siyery
irons. which have heed quite eagerly sought for
NtNtstician- are puzzled To know why lower fig.
nrrs should exist With stocks in makers hnuas
growing smaller continually. The turn for bot
ter figures cannot now bee long postponed with
the present immense consumption and active
buying continuing There were several trans.
actions IN southern foundry and forRs iron az
very low figures, md "a number OF deals for
Lake superior and siivety iron closed though
smaller In tOnuasg. than the southern iron AT
iull figures. The market in Louisville aud Ina
mediate vicinity have been very quiet during
the past week What FEW sales have been made
were 80 distance and for delivery during the
first six months al the next year There has
beea no change 30 price which, icmainsat $40 80
for grey forge M Birmingham There are
parties IA the market for a large amount III
iron. bnt they desire delivery during all of next
year SEINE buyers profess fear that the re-
ported weakness 81 steel aud muck bar that be-
fore long production viii exceed consumption;
which they believe by the first Of next year viii
l,lll on, This, however does not prevent them
from buying for legitimate need on account of
low prices az iron but curtails purchasing la eN
cess 81 ordinary requirements. Prices az Bnf
mlO stu remain low with very little business 90
report. While the same difficulty exists IN get
ting shipments forwarded on old orders. aetuAl
buying r. SO very cht rs 20 suggest "a reaction
ln the not distant future. The past week at
Chicago has shown no decided tendency either M
or down. and while there are those who predict
lower range OF prices shortly, there seems 10
be nothing dehnlte 90 warrant such change
Consumption continues heavy. and while not
very large business ~ going there Is steady
HOw ~ moderate sized orders. Southern iron
* ia good demand. especially soft aud silvery
grades. Lake superior charcoal continues
quiet, but indications point 20 heavy buying in
Che near future. AZ Cincinnafti IL X noted that
the statistical position oi the pig iron market
has remained strong No Elimination OF con
sumption has taken place and no accumulation
of iron at the furnace yards ON the contrary
the caparity at the largest southern furnace for
the remainder 81 the year, has been aud stiil re-
mains heavily oyersod The outlook for "A
large volume of business IN All commercial lines
during the winter and curly spring, Il regarded
by those best able 20 judge, fortified by the ex.
periencc, rs secured. With continued activity
IN industrial liues the demnud for pig iron aud
steel II likely 10 be Increased, aud the present
low prices reported are being made will rebound
as "A natural consequence For the time being
however. the market ~ still disturbed by re-
ports aud rumors 81 numerous sales OF moment
at very low PRICES indicating financial needs OF
some producers. The sales made have been
largely OF mil grades but there have also been
some liberal transactions al both No. aud
No foundry. There has been "a moderate
movement IN Ohio soitners, and only a few I'm.
pOrtHnt sales oi charcoal iron AZ 81. Louis |
considerable business Is being done and con-
sumption continues large. Our report from
Pittsbmg + 20 the effect that pig iron for found
~ and mill purposes has been ga reasonable |
good demand during the past week &C unchang.
ed prices. iron Ore-fherc h SO very little !
going on la the iron ore market that only those |
directly Interested are 40 all aware 81 tS exist
ence. The shipments ARE steadily going forward. I
az greatly reduced rate, however owing In /
part 20 the scarcity Of vessels, aud. In part 90
the lack of IA some of the shipping ports |
The recent sharp advancement In coal frelghts i
has diverted some Of the vessels from the ore i
trade 20 the coal trade, and as the last selling I
prices OF coal Viii hardly permit any eXhorbi- |
tant carriage the chances are thai no further Y
change will occurinthe conditions governing the /
vessel market The rough weather OF the week 4
has done much toward the laying on OF several \
vessels aud more will undoubtedly follow during I
the next few days, unlc~s the Inducements offer /
ed hy coal shippers should be- such as 60 over !
balance the Insurance drawback aud the ia /
creased Vcssti chnrpes. N may not De nposei- /
srfsH r.ttis
moderate charges. this winter viii see all rail. |
shipments az ore. The demand from eastern /
furnaces for a high grade Of Hcsscmer ore Is very
urgent. aud ia some Instances local flrnacpmen /
unable 60 make pig iron 40 profit. have r.sold |
their ore 20 these firms "a no inconsiderahle /
advance 10 rs thought that the cnst can cou- /
sumc between this and the opening OF navigi- I