The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1890-11-22

well filed though "a few OF the smaller ones have
accepted some business at cut figures in order
TO move accumulatiOns of certain grades
Another disturbing feature has been the offering
Of warrant iron, producing the impression that
a large quantity OF such metal Is seeking sale.
the truth being that the amount is small but
the holders are pressed for money. Lake SUI
periOr eharcoais are In fair demand at un-
changed figures, both buyers aud sellers realizing
that the temporary Generalization OF a fort.
this class being well sold ahead. Heavy con
sumption continues aud much business IL being
turned away by jobbing boundaries, The out
look Is healthy aud points TO heavy business
during the winter. The Detroit pig iron market
remains uneven, but there were perhaps not 30
many transactions 70 show this condition Of af-
fairs as decidedly wns shown IN our last re-
port. For small orders there has bvcn mum
Der Of orders taken where delivery was demand
ed promptly, this being the condition Of the sale.
No large transaction for southern iron was clos
ed, however. The bookings Of Lake Superior
charcoal were not large and were also generally
for prompt delivery. only moderate amount
IN business has been done nj al Louis the
past week Prices unchanged, and there
continues TO be u difference Of about fifty
various southern furnaces. AZ Buffalo
everything connected with the PIC iron mark
et n covered with "a degree OF uncertainty.
Many buyers think the great variety In prices
rcductiOn.-IrOn Ore-unless all signs are at
fault. there Is good ground for belief that the ore
trade " going 10 experience. during the season
TO come, "A complete change OF front on the part
of the furnacemen AS compared with the pres.
enc season. There is hardly "a consumer OF iron
ore but IL dissatisfied with the business OF the
year, and, right or wrong, there Is a strong mani
festation 20 lay good share Of the blame 90
the ore interest, though the proof be altogether
wanting. The fact seems TO be that having cx-
hausted all other sources for complaint, the
makers OF pig iron, or a good many OF them
have conceived grievance against iron ore,
and the chances are that this complaint will m
mo he has ON
out come OF this dissatisfaction viii likely be
found. later on, To consist either In a system.
attic attempt TO keep down the price OF 81 ores
by concerted refusal 20 buy, or else 10 buy IN
such quantities as toeventually bear the market
by reason of lnrve surplus. IL cannot be denied
that the furnacemcn who are now making pig
from ore purchased year ago are dong 80 at "A
loss but the responsibility should be shOuldered
by the furnace interests which demand quota.
lions on ore. long before the ore men had
thought OF entering the market. and who them
selves are responsible for the temporary adj
vance which Is hurting them so badly AT pres
ent. However the market goes IL may be put
down a settled fact that the safes OF the lake
ore. for 1891 delivery. will not be made In "A
hurry, and from all the Indications none are
navigation. Pig lron-There II no change 20
be recorded either la the duness and apathy Of
the market, or in the outrageously high prices
still demanded for coke The situation h un-
paralleled in the annals OF the iron industry
and the most experienced people In the business
are at IA loss 10 account for IL. OF all the RENE
dies attempted To help the market, none seems
10 have been OF the slightest benefit either in
the way OF helping the volume 81 business. or
In the bettermentiofp price. The only explanation
that eau be offered. IL lamentabe lack Of con
hdence: but why there should be such "A lack Of
confidence nobody seems able 20 show. The
fact remains that good Bessemer pig has been
sold In the valley, this week sl6 cash. which IN "A
falling of during the past twelvemonth, OF
thirty three percent, while there has been no re-
duction whatever In the cost Of production.
Some large consumers Of pig iron might be In
duced 20 buy heavily at the market rate, but
the iurnacemen are afraid 90 engage their entire
product at a price which means u certain loss In
the ratio that the bigger the order. he greater