The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1890-11-29
THE WEEK IN IRON CIRCLES.
GENERAL FEATuTEs or THE TRADE-IRoN
ORE-pIG IRON.

GENERAL FEATuTEs or THE TRADE-IRoN
oRE-PIG IRON.
The Cleveland Iron Trade Reviews
resume of the week i'm iron circles: Gen
cral features. The iron market at large
has had generalappearance ~ a stand
of the week past ON account of the
trouble in Wall street. Buyers al pig
iron generally want to rec how the furry
in stocks will affect general business be-
fore making large engagements. AT the
same time there have been several round
orders placed for December and Jauu-
AIRY deliveries at ruling quotations. 1t
is not thought that prices can lower Tor
the reason that they have been AT the
bottom for several weeks past. IL Is
felt that any Artificial pressure that
might further reduce values would result
i'm wholesale blowing outof furnaces and
consequent early reaction toward better
figures. Production is ALREADY decreas-
Ing the current rate being quarter Of.
a million tons yearly less than the pro-
duction In May and June. Further re-
,luction in output is expected both north
and south. There Is mo- sign Of any
abatement in consumption, and IL is
thought that considerable owing
movement must set In before long. The
week at Chicago has been marked by n
considerable illumination OF expected
buying sales during October were heavy
and within Few days Indications point
cd To "a continuance oil activity during
November. Consumers. however, have
formed the idea that they have little To-
gain by making further contracts before
january 1st, and all things considered
they prefer to- take their chances after
that date. Indications point 90 "a quiet
period during the balance OF the year.
and for the most part sales are likely To
consist 81 small lots for nearby deliveri-
cs. Southern coke irons in the main are
firm and but little doing, and the remark
applies To northern cokes and Lake Su-
perior charcoals. As there is little dis
position on the part of the sellers To- force
sales and consumers occupy a ccnser-
vatlye position, there Is little in the situa-
ton 60 cause tiluctuation In prices either
-one way or the other. There have been
several transactions cOnsummated FOR
southern irons during the past week nt
Detroit at reasonable lair figures. The
scarcity 81 cars is reported generally
throughout the south. causing users here
10 desire their orders filed with prompt
ness that there. may be no danger of
their running short. The reduction of
stocks on hand noted during October,
while IL il small still points in the right
direction, and IL * generally thought in
Detroit that willie the market may not
advance for coke irons for some little
time, it Is certain that it will not decline.
Lake Superior charcoal is in good de-
mand at firm figures. although not az
~ rule for large tonnage ia any particular
buyer, bat seems To be accustomed by
manufacturers desiring Go be certain Of
their supply and getting il shaped prior
TO the close OF navigation. At Louis
willie a larger volume OF business has
been placed than for some two weeks
preceding Several individual orders
ranging in quantities from l, 900 Co 900
tons have been taken, particularly for
irons Tor special purposes. Most Of the
trade Is c0fined to legitimate require
meiits for "A few months ahead, and in
consequence buyers are not anticipating
as largely for their. future probable re-
uuircinents as they would otherwise
Our Buffalo correspondent notes the fact
that consumers busy themselves by tele-
graphing for DELAYED shipments ON old
orders and speculating for furtherdecline
in prices, although their contracts in
many cases are very nearly completed.
The st. Louis market IL quiet and the
general activity that 40 many predicted
for the latter part of the wear. has not
have contracted for the remainder Of
1890. inquiries now are for delivery over
the first quarter or half of 1891, and
there are enough furnaces willing 60 sell
ahead on present basis. TO meet the limit
ed demand. Iron Ore.-While there
isn't thing in the way of news that may
be said Co affect the market, there is con-
siderable speculation as 90 the causes
that are responsible for the absence OF
reliable data concerning the hate ship
ments OF ore, for the past two or three
weeks. In some quarters the opinion is
freely advanced that some one may be
anxious To doctor the returns, though
there Is no earthly use for such step
The totals for the season will, IL is
thought hereabOuts, come mp closely 60
the forecast made in these columns last
August, viz, $500 900 tons for lake
shipments only. The stormy weather OF
the week has still further retarded the
closing mp of business, and the ship
incnts for the last two weeks in Novem-
berarc estimated at less than 800, 100000
tons. A very little patience will tell the
story OF the seasons wOrk.-Pg Iron.
After many weeks OF disappointment
and the patient endurance OF cOndi-
tion of affairs unparalleled i'm the history
of iron making In this country, the fur
nacemen in this neighborhood have at
last taken steps TO combinu--nOt So
much to affect the market directly, but
Co fight the common enemy, the coke
combination. There has always existed
in the Mahnning Valley nm informal AS
ISOLATION 81 pig iron makers. but the
Shcnaugp Valley iurnncemen kept out Of
u. Now, however, that the interests 81
both districts are Affected. and BY the
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