The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1890-10-04

GENERAL FEATURES or THE TRADE-RoN
ORE-PiG IRON.

oRE-PiG IRON.
The Cleveland Iron Trade Reviews
resume of the week in iron circles. --(ieneral
Features The prominent feature at present Is
"a large amount 81 activity found among all
meltc-s 81 iron. The ear works, machine shops
aud fouudrics nearly all have heavy orders on
hand, and IN some cases more business offered
than can be handled. 10 may be said truthtully,
We think. from a general view Of the situation.
that there Is not an idle pudding furnace la the
country aud the foundries were never 50 active
Consumption is for the moment 81 excess 81
production. business In general throughout
the metal interests sn "a healthy condition and
With the equilibrium ot the money market re
stored u prosperous fail market VIII be- assured.
Consumers en- report am extraordinary demand
for finished product, many o them refusing TO
receive mrther orders ON account az lack Of
capacity 10 fll same. One large western manu-
factuter has iust completed arrangements where
by several thousand tons viii be pudded for
him az thee different points In the south. and
all mills SO Tar ae we can learn are running with
| "A mi force night and day, and the outlook for
the iron interest u certainly encouraging. The
makers 81 iron south are wei satisfied with the
condition Of the market ana are Very firm in
their prices. Shipments from the furnaces are
quite hestN ", stocks Of iron are Decreasing. aud
having made sales ~ a portion 81 their output
Tor delivery extending INTO the coming year rs
late rs March. there j. no pressure TO crowd
sales. The market Ht Cincinnati has been some.
what unsteady during the week. Northern min
Irons ana Bessemer hnYe shown some signs Of
weakness But Ii Is believed 20 be- temporary.
The market for scout hPrn irons has bdrn VibrHt-
ing between two influences. some furnaces
which are largely sold up are contemplating ad-
vanciur prices this week other furnaces not SO
literally sold ahead were willing to fall at hg
urcs prcyailiug The past fortnight, aid u neccs.
Snry shade tiiiie for large orders. hence no
advance has been realized bat ~ seems imni.
uent as southern furiiace order books are We'll
lilled generally, and the demand continues very
heaN =. There has been fair aggregate 81 bust
ness transacted during the week at 50. Louis,
principally in small aud medium lots OF southern
coke ironat substantial coneessionsirom quoted
.l..ftsl
affected precisely those grades which are scnrctSt
~ the furnaces. The situutiun r. abnormal. In
car.Whee Irons there 4 little doing; whilst Ohio
soiteners are in usual demand 40 unchanged
values. The scarcity 81 cars AZ Conuellsviiie
still continues, ana coke shipments 10 the 81.
Louis district + so reduced as 10 cause consider
able Inconvenience. AZ neeroit southern foun-
dry aud iure aud lessempr iron must hc
reported weak. While August shownlH dlminu.
tiou az coke iron on hand The amount was too
small 90 have and decided hruehclUl effect That
this fact II shown by the falling oH Ia figures in
nearly every quoted market. That bottom
cost figures have been reached is a certain
extent believed and IL Il hoped that larre eener.
al trading will relieve the iurnaoemen iu the near
future. There has been booked some fairly
round lots Of LIKE superior charcoal at full
ma ket rates. The surplus 81 this grade ~ 50
small that sellers are ycry sensitive, and the
market is generally strong. though an occasional
weak spot can be picked out This n the expep.
ton, however. Finished material u decidedly
stronger some advances having been made on
spe sal lots. while generally. few mills can be
found WILING 10 rhhuc quotations Tor large
orders. 80 Chicago the market continues quiet,
and the amount 81 buying during the past week
has not been large. some FAIR sized blocks az
southern coke iron, however, have been placed.
sllYery irons aud soitcners ARE la good demand
while Lake Superior charCoals are inactive,
Some slight concessions have been offered by
certain southern coke furnaces for early dcliv-
cries, but AL OF the companies iu the Chicago
district ARE firm ON business for scattered deliN-
Isles. There has bvcu y noticeable Increase IN
| sles an Buffalo during the past week. and the
outlook az The present time iS quite promising
for Il brisk trade during the coming season.
white the market az Pittsburgh for Bii kinds Of
manufactured Iron i- strong aud active, there
has ytt been no preceptihie Improvement in Tie
situation a. regards Pix iron. N h. thought.
abroad aud the large consumption now going
on at hand Wiii soon hnyca prccrptible effect on
prices iron Ore..-in the nbrence 81 any aud
ail transactions, the market affords little By
WAY 90 interest save small talk a. minor impor-
tnnce, and mild speculation ns 20 how much
one mine WIN bent the other in the years pro
duetl0n Among The ore men there is a well
settied opinion that some 81 the mines have
been OVeI~old. bat no onen VII become authority
! for "a statement 81 this character; still. where
some hrr aud To H not az all unlikely that "a
cOu.i dcrnblo deiirenry Uiii be Shown iu the Cnsf
90 some mines that were either crippled bY labor
I troubles or the output was ovcrtatlmated By
their too aauglllnc representatives Even at
this time VI Is not difficult 10 pick ont hall "a
dozen mines thar Vili not nenriy come ur 90 the
I Owne.p' expectations Ehenr hHs been slight
Y Improvement during tlgc week u ore receipts,
owing 90 TIE favorable weather at The upper lake
ports md shippers irsln little more encouraged.
/ Vessel rates remain nnchapted aud thc demand
I for bottoms Is light. IL in Thought. however,
that the movement ui grain. in this direction. b.
3 apt 20 have soise effect GA the carrying rate OF