The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1890-08-23

ahead. and the stolid strength they dIs-
| play isa marked feature In tho situation.
| Charcoal irons and Ohio SoItencrs are
moving slowly at about previous values.
There H. a hair amount ~ business at
| Louisville. the l,,ll buying noted m last
weeks report continuing. Prices are
! firm, but there has been no advance. and
| IL IL thought that business will continue
during the balance ~ the year, with but
little liuctuaiinn IN prices. The unSatis-
Ectory condition al crops in the south il
affecting the agricultural companies. and
ia some instances they are compelled %
curry over their finished product, SO Tint
their trade can be 81 no assistance 10 the
market. Consumption continues very
irsavy, and outside ~ the agricultural
companies, no Stacking Ut orders II pre-.
reptiblc, and mills report that they are
crowded with work. There are several
new southern furnaces going In blast dur
ing the coming month. These have ex-
pcried Tor long time to be making iron,
and ARE now probably ready 10 run. AZ
Detroit there has been considerable
activity during the week under review.
Inquiries have been more numerous, and
have not been confined To any one par
ticular grade OF iron or tOany particular
able magnitude have been made in the
Detroit market. Southern irons have
been most active, with Like Superior
charcoal good second Silyery irons
are in better demand and consumers are
asking that shipments on orders already
placed be hurried forward. The general
tone of the market at Buffalo remains
about the same a. reported Tor the past
two weeks. The prices are still firm with
slight concessions on silvery grades only.
The inability 60 get southern iron and
the delayed shipments from that district
has a marked influence ON sales. The
extraordinary expansion of the iron and
steel making capacity of the country,
under some circumstances, might occtl-
sion di-trust in the trade; but there
seems to be no apprehension among
those who have their millions invested
in this industry, as 20 nm excess in pro-
duction, or as to the future course uf
prizes. Mills are being enlarged, new
mills arc under construction or project
eel a great many new furnaces are being
hurried 10 competitions: machinery II
being Increased in capacity, and i'm
proved, and everything possible in being
done to increase production aud lessen
cost, and all this despite the fact that
railroad requirements are at a minimum.
excepting FOR equipments. Nearly all OF
the railroad companies are liberal buyers
Of equipments and supplies, aud the rail |
mills OF the country are kept running full |
time ON orders for rails, billets and other |
products. The car and locomotive |
works are all oversold. Some interest |
may be taken in the condition OF the pig |
iron warrant yards OF this country |
Prior To October |. 1889, the net stock |
IN the yards was 200 tons. During De- |
tober IL advanced To | | 300 tons; Dec I
ember / il was "a. 600 tons; january /.
30, 100 tons; February /, Al 900 tons
March i, 4S,5OO tons; April /, "a, 500 |
May i, 300 tons; June /, 81 100 |
tons; July |, $4,000 tons, and August
III, 6S,SO0 tons. Compared with the |
daily consumption Of the country this |
aggregate Is insignificant and can play |
NO part in the course Of the iron market. |
The structural and plate iron mills OF
the country ARE running full with excel |
lent prospects Tor the rest al the year. ---
Iron Ore.-rhe delay foreshudowed last
week in connection with the locking
up Of the $500" h telling severely upon |
the trade, and in every feature Of the
business. The release OF the two impris-
oned fleets has brought about punching
OF vessel craft at both ends OF the chain
OF lakes, and while this abnormal condi- |
ton of affairs cannot, ofcourse, last very
long, It's damaging influence will be- felt,
more or less all through the remainder of
the season. The docks in this vicinity
are fairly janmed with ore, all OF which
has been sold, and the railways are
vainly devising means to takecare OF this
material, SO that there isn't a ghost of
chance of storing pound OF ore that
hasn't already found a market The
situation cannot by am means be called
cheerful IN any RESPECT. and the oldest
and most experienced heads in the bust
ness are unable to- make an intelligent
forecast OF what the future has in store
Tor the ore trHde.---Pig Iron.-Nery
little change has taken place i'm the con
ditions governing the market since our
last report, and the indications point TO
a firm il quiet market, mt least until the
beginning OF September. That iron il
going Ia be higher in short time. is
commonly accepted fact, but consumers
do not ON that account seem To place
heavier orders than their daily wants
rcquire--preferring perhaps, Co pay the
market price when the advance does
come. Figures compiled by the Western
Zig Iron Association Indicate that the
present stocks OF raw material amount |
To less than four per cent. OF the annual /
output, and in the immediate vicinity of
this market there is certainly no over
plus OF iron.