The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1890-06-07
THE WEEK IN IRON CIRCLES.


| oRE-Pio IRON.
! The Cleveland Iron Trade Reviews
resume of the week In iron circles: Cen
eral features-Thc story Of the general
pig iron marl.et, AZ for several weeks
past, is told in n few words, active bnsi-
| ness 1t low prices. Most sellers are firm
| IN refusing "a book orders for deliveries
more thnn four or five months ahead,
unless at advanced figures. Some. how
ever, make mo- such restriction, and in
one instance ~ buyer who wanted
round lot for deliveries beginning in Sep
TENDER. succeeded in getting il. There il
an undeniable improvement in the mar
ket, centering at Pittsburgh, Wheeling
and Cleveland. where the influences. I'M
I'll lately, have been extremely besirish.
Bessemcr iron, steel bilets and lake ore
Jorge and foundry iron havebeen precept-
IDLY advanced. In southern products,
values are unchanged. There is a little
more activity IN Ohio softcncrs. The
Central Traffic Association, at it's Chica-
90 meeting, decided against making any
reduction in west bound rates from Ohio
furnaces. At Detroit, the large inquiry
for Lake Superior charcoal iron con-
tinues. weae advisedby ourcorrespond-
ents, w. II. Jarvis x Co.. and ~ number
OF transactions were closed during the
past week M ruling figures. These, how
ever, consisted of the smaller inquiries,
but amounted in the aggregate To tom
mage OF perhaps 1000, and was distribu-
ted among several buyers. The large
consumers seem ready To buy ut almost
any time, but keep postponing closing
their deals With a view Of further conces-
sions being granted. IL is very improha-
BILE that any lower igups will be- made,
] however, than exist st the present time.
| The month OF June m ist be the most ac-
tive OF the year for IL Is grade nf metal,
and while stocks in thu, hands offurnace-
men have increased somewhat, they have
not done so To amy great extent, nor IL
there any large snrplua IN the hands vf
owners to-day; while, on the other hand,
there are very small stocks OF pig iron in
consumers hands. BUSINESS with nearly
every maleable man in the country Ia
very active, and the car-wheel men are
MS full Of work Az il Is pos ible for them
TO be. There were y few transactions of
small volume for foundry mon at ruling
prices. Inquiry for Bessemar developed
the fact that the reaction hts already
been felt for thus grade al metal, and
that prices are ON "a higher plane. Quite
n little buying has been going on the past
week in the Chicago market. The de-
mand is still for small lots for quick
shipments, but occasionally nm ohcder Tor
five or six hundred or n Thousand tons
il placed. Buyers continue to think
each purchase should he at lower price
than the preceding one. but there are
pretty well defined indicn tons that there
IL n bottom, and that IL has actunlly
been reached. There are some Inquiries
for Lake Superior charcoal iron, but tho
early summer buying has not seen ii yeti
Consumption continues large at st.
Louis, and provides - steady run az
small orders covering immediate require
ments. Business for later deliveries is
held i'm suspense. owing to the nnticipa-
| ton OF consumers that the ever-increas-
/ ing production. and the daily announce
ment OF new furnaces, are promises Of
lower prices in the early future. In con
sequence, however, az the large orders
entered 10y southern furnaces, they ARE
holding prices firmly, and announce their
expectation OF higher figures during the
summer. Ohio softners have lair de-
mnnd, although values are somewhat
weaker. A dull, quite market has pre-
vailed at Louisville since the last report
More or less figuring has been in progress
ON moderate sized quantities. with vary
ing deliveries, some Of which developed
Into orders, while others have been
deferred or abandoned. There has been
some shading in prices, and IL IL said
that No. 2 foundry has been quoted
/ equaleto S3.S5 on carr, Mt Louisville;
other offers have been made freely at
about ten cents above this. Buyers ARE
slow TO contract forfeiture wants, believ-
ing opportunities are in their favor Tor
more favorable purchases a little later
on. Buying continues light at Buffalo,
yet consumers ARE very urgent that fur
naces should hurry forward shipments
ON their old contracts. Careful inquiry
reveals the fact that, in the main, found
ries are working 10 their full capacity
and, In many cases, are refusing business
through inability to fill their orders. The
market at Pittsburgh is firm and quite
active. The advance before reported in
Bessemer iron h well maintained, and
other kinds are stronger than mt date OF
last report. Manufacturers generally ne
port large amount of work on hand,
and many have orders booked that will
keep them running at least two months,
and consider the situation entirely salts
factory. The large railroad earnings :,
and increased value OF stocks based
upon these, have lent additional oncour-
agement, and il is felt that the market
il ia excellent condition. At n meeting
of the Wrought Iron Manufacturers
AHnvcHii'ii, heih w ifttNbutEi, tlt DdH1
week. present prices md conditions were
reaiiirmcd, and measures were taken. il
is reported, for limiting present produc-
ton. the market being overstocked. .--
Iron ore-The first light ripple az the
breeze al prosperity that ngitatcd the
market last week has not died away as
yet, bidding lair on the contrary, To- stay
awhile and grow IN volumu. The first
advance in pig iron, lst week. WAS
Immediately followed by inquiries COR
nas.op,ar ura tea,ilfin.y IL tl,s .,,ia tl,{.