The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1890-05-10

nearing completion and ARE In the market
as new factors for large quantities Of
iron. II is held by SOME that Chicago h
the largest consuming center OF irons in
the United States. not excepting Pitts
burg and Philadelphia. Inquiries at st.
Louis for southern iron continue TO be
numerous. and consumers are placing
their order somewhat more freely. Tins
movement, whilst primarily due TO the
exigences Of consumption and the need 20
replenish stocks, is no doubt FASTENED
by the stronger attitude assumed by
southern furnaces. Ohio soiteners and
charcoal irons are doing "A small. steady
trade at unchanged values. There is
much talk at Pittsburgh Of change for
the better which must be close at hand,
but the time has evidently not arrived
quite yet, ms lower figures have ruled
since the present decline set i'm. The
situation is certainly most severe on
fnrnace-men, as metal can hardly he
made at the selling prices A good
volume OF business is IN progress at
Buffalo, with rather more disposition to
cover future wants mt present prices than
has been manifested during the winter.
Iron Ore.--The present affords go
little in the way Of comment, that future
conditions and contingencies are made
the current topic OF ton among
the producers of iron ore. II seems that
the iurnace-mcn situated at tide-water,
who control the Cuban ores, are clamor-
Ing for free ore ON the ground that they
are barred from the use OF Lake Superior
ore by reason Of long and expensive rail
haul. The protective theory, however,
il strongly borne out by the fact that
there is in northern New York. and in
Virginia AN abundance Of Bessemer ore,
requiring. 10 be- sure development, but
there is no longer any manner of doubt
that there is in this country, and right
where the tide-water hnrnace-mcn want
il, an inexhaustr)le supply OF high-grade
ores, waiting To be mined. IL is further
contended TINT the cost az mining,
abroad il so low that foreign producers.
after paying ocean freights, are still en-
abled 90 compete with the Lake Superior
ores, the competition varying with the
ores are known to have found market
az far west as Pittsburgh. Pig IRON
Reports from number of furnaces in
| the Mahonng and Shenango Valleys
seem TO indicate a firmcr feeling among
the makers nf pig iron, keeping step with
the Increase of inquiries ON the part OF
consumers There is little doubt that
many foundry-mcn are in want Of iron,
and they are working hard to buy con
siderable qunnttic-. for three and four
months delivery. at the present low quo
tations In this they have been unsnc-
cessiul thus far, the furnace-men decin-
/ ing TO engage their product ahead at a
/ figure which gives them no profit margin,
and il * but question OF time when the
reaction will set in. The first purchase
OF any considerable quantity ofiron-and
To buy round lot means u better price
will drive up quotations, SO that the
break may come amy day, according to
/ the needs of consumers. Bessemer iron
! IS also looking up "A trille, but j. lar from
being as strong az It's position IN the
market would seem To justify. Accord
ing TO the last report Of the Western
/ Pig Iron Association there has been no
apprccinblc increase Of iron stocks during
the month, and il is thought that hence
forth the report will show a reduction
every month.