The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1890-03-29
THE WEEK IN IRON CIRCLES.
GENERAL FEATUlsEs OF THE rRADE-IRoN
ORE--PIG IRON

The Cleveland Iron Trade Reviews
resume OF the week la iron circles; General
Features.--An important reduction IN west
bound freights on manufactured ironirom Pitts
burgh the Shenango Valley and Cleveland n
pending In car load lots the rate. 10 II reported,
will be reduced from fifth 20 sixth class la less
than cur load lots from fourth 70 NTH class.
The late Influx OF southern iron into this terri
tory by reason 81 the low rates made by the
southern lines Il one OF the reasons that may
lead TO this important reduction. Reports from
leading central and western trade ccnters are as
follows. our correspondent at Cincinnati writes
that the market has been active ana large orders
have been placed az prices that seem low com.
pared with what southern furnaces were holding
M before the break THIS has alarmed the few
spectators who still remain In the Held, aui
they have FASTENED Co unload gt any prices they
could get. The special lots Thus have neen
their much Offering. The southern furnaces
during this little excitement. have roun't~$ uI
AN aggregate Of probably 10000 tons 81 Srners,
aud already feel more independent as 90 further
business In northern irons there has been some
weakening but nothing like that In southern
brands, for reason that, with the exception oil
Bessemer aud lake ore mill irons, they did not
advance so much under the observation-disclosures
of November and December Generally rpeakiilR
southern irons are down 1900 per ton from tht
December schedule. and Ohio softeners about
hall ~ much. Charcoal irons huctuate hut little
aud while foundry and non chilling grades are y
little weaker. best chilling irons are active and
strong Old wheels are again Ia good request
Scrap IL OFF about much nS PIG. The recent
tumble in the price OF southern iron has had ths
effect Of inducing considerable purchasing IN ~
directions for these grades. aud alsOfor northern
coke irons writes VIM. y. Jarvis * Co, Detroit
cit * evident that buyers are satisfied with th'
new prices, and the effect 81 this purchasing
winch Ia the aggregate Will be very large ton
mage may shape the market toward better tlg
/ urps In the near future Lake superior chhrcoh
| iron has been dull lew transactions however
| have taken place, showing that prices are firm
/ for this grade lt has been in no manner effected
i by the break IA foundry irons, as Tar as can b'
seen az the present time" AZ Chicago, heavier
buyine and lower prices a the story of the weel
! inst closed. The illinois Steel Co. through III
| Bayview furnace. has been taking some heavl
orders for foundry grades NJ prices hitherto no
supposed TO be possible, This led 70 some cut
ting by southern furnaces 10 meet the competi
ton and all told, IL Is fair TO say that on low
grade foundry irons, prices are on abouta dollar
I a. compared with the FIRST ot the month. specia
foundry irons. prime Ohio softeners and the like
| hold up firm. Some additional contracts recent
" bet have brought out inquiries Tor more whee
iron aud old car wheels. The southern furnace
/ have shown greater willingness TO sell az
lower range Of prices during the past week at ~
/ Louis. Quotations vary widely and are irreHu
lar. Small orders ARE quite numerous but ~
large transactions reported. Ohio soiteners cou
time fairly firm, but charcoal prices are weaker
/ With the foundries working full time the pros
poets for large consumption az iron this year
are encouraging. and u Is not unlikely that IN
present weakness In pix iron may be follows
very shortly by "a nrmer market. There ha
been lively Skrmish Tor business during On
the fact that liberal concessions have been mad
no trades OF any magnitude have developed
Speculative lots figured prominently ~ the r
duced figures IL was also developed beyond
doubt that furnace iron was offered Ia the sam
way. Buyers. as rule, are well supplied "a
some time To come and are disposed 20 act cor
sentative and buy only In small quantities. q
present basis the market nc Buffalo shows COZ
siderable life. There ~ still however, "a eeliug
uncertainty among buyers, but sales have larvrl
Increased. The report last week from Pittrburr
I min nf nrp ri he fed
fairly represent the present market. II there
any difference IL II In the downward direction
The Scotch iron warrant market - ina bad wa
Speculation has undoubtedly received "A decide
check. The British labor market IN also causf
, some anxiety. Iron Ore.-Nery little u doiI
ia the local market. but inquiries are steadil
being received from eastern parties who, nov
ever, seem 70 require ior the purpose more
The ore dealers. on the other hand, have lot
ago sold quite enough Of this years product !
feel perfectly comfortable. aud are not dispose
20 make concessions. either AT this or some futu
time The result, while somewhat in the ~
lance ~ yet. will be that the ore yet unsold wi
, go az the market price fixed by the sellers. Nei
little y doing he vessel charters. ana lew sn
pers of ore care TO employ any more carryii
, capacity than they have under contract. The
has been no change In charters, kscanaba freigl
I being st.Ob. Marquette si.2O 20 30, Viii
: 81 30 - paid from the head Of the lake -----r
, Iroa.--The dnllness In the market stu continue
aud while everybody looks hopefully 10 q
future. the fact cannot be discussed thatthe bu
J mess a. shown by the transactions of the week
! az $50 cash AZ the furnace, and all'orr No.
4 foundry iron II sold about = ~. 30 on the san
basis. what little hon " bought y bare
: enough 20 last the consumers from day 20 da
and the sale Of round lots II seldom heard {
. strong furnace consumers rather discoura
orders ON the present basis. declining ~ son
!. Instances 20 book orders except nc their ON
figures.