The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1890-05-10
THE WEEK IN IRON CIRCLES.
GENERAL FEAruKEs or THE TRADE--mox
ORE--pIG IRON

GENERAL FEArUKEs or THE TRADE--mox
oRE--PIG IRON.
The Cleveland Iron Trade Reviews
resume Of the week in iron circles:
General Features Southern freight rates
go down to-day May lst) to the min
imum rates in force last Summer, the
railroads again cooperating with the
Alabama Iurnace-men i'm Keeping the hat
tors heads above water. All of these re-
auctions in freights, being ON sliding
scale based ON prices. have been fully
discounted in most of April sales. In
view OF their advantage, and the con
tinued heavy buying, there is noticed a
gradual stiiiening in prices az Southern
irons. which is felt in most Of the Central
Western markets. Notwithstanding
this. Southern companies are slow Go
make any formal advance in prices,
though they feel the position warrants
them in doing 80. Experience Of the hast
hall years teaches That too rapid putting
up Of values is attended with danger.
In the north the furnaces hold their
ground firmly. Concessions have been
made in one or two cases whore II was
thought that southern competition
should be recognized As n rule, how
ever, furnaces are content olet southern
makers have all the business they arr
willing 90 take az these prices. ANY con-
siderable reduction in prices OF ore or
coke sdeemcd impossible The Northern
furnaces, therefore. seem 90 be in for
season OF high cost. This viii necessarily
does not strengthen. While quite active
sales are reported at Cincinnati, LOUIS
Vile reports but few sales, most consul
mers having bought for delivery during
the ensuing three months and in some
instances throughoutt heyear. Inquiries
ut present are largely Tor iron deliverable
July 60 january, and furnaces are willing
to sell basis So 80 for No. foundry,
Birmingham, for iron deliverable the last
six months OF the year. The extremely
low prices that were recently current
have not been repeated. aud il would be-
impossible to buy iron even fnrspot cash
within dollar a ton OF basis 81 sales
made during the recent decentralization.
Many large orders are seeking iron at
prices about twontyliveccn under what
furnaces are willing to accept, md for
delivery i'm most eases for hitter pnrt OF
the year A few days will probably
decide the placing Of these orders, and it
is.hopcd viii establish a Uniform market
which, since the first Of the wear. has
been extremely irregular Tie dull mar
ket and uncertain Keeling which have
existed in the Detroit market for the
past three cor four weeks for nearly every
grade - foundry iron, our correspon-
dents CIV. +. Jarvis * Coz write. has
pretty well disappeared. Southern iron
been booked; furnaces claim To be in
position Co hold off for a considerable
length of time, and concessions would
not be made Upon the opening oi navi-
CATION, large inquiries for Lake Superior
charcoal are coming in, which viii lead
To "A further strengthening 81 the already
strong market. There has becn very
little sympathy shown lay Lake Superior
rcharcoal iron IN the general decline. All
OF the foundrics are busy Ia nv,rilowng.
II NO labor troubles occur this week buy
ing win doubtless increase. The Chicago
market has seen more than usualactivity
the past week. The large buyers, and "a
good many of the smaller ones. have
decided that it WAS time % take hold.
Contracts closed amount To several
thousand tons Of miscellaneous foundry
iron and some charcoal irons. the bulk
81 the business going South. Chicapoaud
vicinity have been undergoing remark
able increase in consuming capacity
through the enlargement ~ old plants
and the extensive building 81 new ones.