The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1890-02-15

done IN January. Further large contracts for
Lake superior charcoal iron were booked for
eastern delivery az the equal ~ $4,000 cash
here While there has been no special buying
curing the past week al Louisville, there are
evidences that the market may change very
shortly. aud there are no signs OF weakness. Fur
naces are IN position 20 hold OF from selling
aud believe the market will be stronger. In
qulries ARE becoming more numerous. and the
situation Is improved over last week. Whist
business does not partake In any Way ola boom
character, there Il a somewhat flrmer tone In
the market AT 81. Louis. based OF AT increase
both In sales aud inquiries. Indications point
10 an enlarged volume Of business during Febrn-
airy. Reports from the Connellsvie coke region
are interesting The Courier says: Nervous
apprehcnslons on the part Of furnace men Of a
coke strike, coupled with an abundant car
supply on part Of the railroads centerng In the
region. combine 90 make rushing coke trade
Just now. The cookers no sooner presented their
scale than the furnace men began TO increase
their order for coke beyond their requirements.
The record for each succeeding week Ia the
present month has been one Of increased and
increasing shipments. Production has also kept
pace with the demand. and there has been little,
II any increase OF the stock ON the yards The
last 81 next week VIII probably see the end OF
this furry The wnge agreement ends February
9th, aud 30 well have the furnace men gauged
the situation that they have their stock.houses
pretty generally filed up 10 the muzzle. SO far
as lies IL, their power, they are prepared for the
worst. While their fears are natural, they are
probably In this case not well grounded as
they have been upon former occasions. When
both employers and employed express a con-
fdent opinion that the wage matter will be-
amieabiy adjusted II Is fair presumption that
II viii be so.---iron Ore Non. Bes@emea ores
continue 60 find a market IN "a small way, but
there seems 70 benO general demand on the part
Of iurnacemen. Indeed, good many OF them
have been covering their wants gradually and
quietly, aud cannot use much more I'm any event,
while some dealers dare not sell any more OF
their product until the middle Of next summer.
The statements made a month or more since, AZ
TO the scarcity Of Bessemcr ore with steel makers
east Of the Aleghanles, II again illustrated by "a
visit 70 this city. this week, 81 responsible
buyer, who seemed so determined 90 secure co.
600 tons Of Bessemer ore that he offered 20 take
h irrespective Of price. He was unsuccessful,
however. Dividend paying mining property II
constantly changing hands. an evidence Of the
confidence OF investors in that industry Pig
Iron. What has been forcseen for aweek ortwo
hns come 70 pass, and decline * reported IN
the price of Brsscmer that commodity now sell
Ing Ia small lots and for Immediate delivery at
less than S23 cash, at valley furnaces Paradox
though Il may seem, this break IN price Is looked
forward 70 as an evidence 81 better quotations
soon 20 come. IL proves that the market In
fully controlled by the conservative iron inter
ests, ana that what little speculative holdings
there were. can exert no influence. IL Is now
announced, and by as good AN authority MS
there Is ia this country that Bessemer iron viii
sell for $40 before the close Of navigation IN
1890 That the large producers have confidence
ia the market Is evidenced by their refusal 20
quote prices Tor round lots Of iron, or for long
future delivery. The foundry ana mill iron
interests are still unsettled, owing 60 the coke
question, which Is 60 be determined with theend
of this week