The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1890-08-16

during the past veal nue M oCIEoIH Se
Of ANAL orders has been considerable,
and large buyers have made inquiries
with the intention Of placing contracts
for a years supply. Charcoal irons have
shared with coke brands In the weeks
business in greater proportion. The
situation remains much the same at
Pittsburgh There has been some adj
vance in certain kinds Of manufactured
iron, but thus far the improvement has
not affected pig iron. Our English cor
respondents, ). w. Royce x Co.. OF Man
chester, writs under date OF july 20:
although the promise at the end OF the
last month has scarcely been fulfilled,
there Is no reason for dissatisfaction
with the present course Of Affairs In the
pig iron market Prices have indeed not
advanced to any great extent, but still
they are better than at the end Of the
month, and although Middlesbrough
shipments have fallen off somewhat. the
general feeling is one OF confidence in the
future. This better tone Is having ben
eficial effect upon the manufactured iron
trade, the demand i'm which Ii better and
prices firmer. Iron Ore.---Tho recent
delay in the forwarding Of ore through
the accident TO the lock la the $500" IL
important, not SD much on account OF
the damage already inflicted, but because
IL foreshadows further and more serious
possibilities in this direction, and illus
trates what might happen II some acct
dent should occur that should close the
$500" for sixty or ninety days instead
of four. As il is, the damage to the
trade, by reason Of the delay, and for
which there is no remedy, will npproxi-
mate quarter OF million dollars. The
past week, in marked distinction fromits
predecessors, has shown unusualactivity
In the market, and chiefly SO because Of
the breaking Of prices in the non-Besse-
mer lines. The grand total OF sales
considerably exceeds 100000 tons. in
Guiding one 100,000-ton lot for Pitts
burgh, and a number OF lots ranging
from 10000 to 10000 tons. Chicago
bought largely, as did several adjacent
valley districts, and the east took some
ore as well Several additional sales are
about to be closed up, and this will
about finish up the stocks 81 non-Besse-
mers for the next sixty days. unless the
production should very much overrun
all previous estimates. The advance in
laa "a F..n oil
will average about seyenty-five cents a
ton. Considerable OF this advance was
lost during the buying movement OF this
week, the reduction varying with the
sales from thirty to fifty cents. This, it
must not be forgotten, is true Of non
Bessemers only, all the ores low In phos.
holding well up to the price. There is
unsold barely ten per cent. of the BESSIE
mer output for the year, and the pro-
ducers are in no special hurry to part
with their holdings, since they have eight
months left in which TO dispose OF their
stocks. The claim is made by some fur
nacemen in the valley that they have
coke contracts for August at from thirty
to thirty-fve cents off the regular price,
and il is generally thought that coke
prices will have to come down, IA they
are abnormally high in view OF the gener-
al situation.-Pig Iron.-LAlthough the
market Is sluggish and dull, everybody is
OF the opinion that an advance in due
about September ] and that the people
who are now keeping out Of the market.
will be compelled, sooner or later, to
come i'm and buy, at prices considerably
higher than those now prevailing. Besse-
mer can be bought mt present in the
valley ut $1S.75, although as much as
$3.50 has been paid during the week.
The furnaces, as rule, are fairly well
supplied with orders for short or spot
delivery, buyers being averse only TO
placing heavy orders for long future de-
livery. That the consumption Of pig
iron is fully in keeping with the produc-
ton is evinced by the fact that the gain
in stocks has amounted TO only about
1000 tons for the past month, so that
anxious people need have no fears on nc
count o'any overproduction ofpig metal
and, consequently, 81 weak prices to
result from that contingency. The de-
mand for smaller orders continues and,
while "A good many furnaces do not care
particularly for this sort Of orders, they
continue to I'LL them.