The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1890-04-19

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than ~ any time since November last.
The exceptional prices OF a week or two
ago are now general, Southern No. 3
selling at SIS. No. 3 foundry ut $14.50,
and grey forge ut $l4 ut Cincinnati. Buy
ems at Louisville have been 80 timid for
week past about making purchases, all
fearing that their competitors by waiting
few days might secure an advantage,
that the leading furnaces have settled
matters by putting prices TO the lowest
notch. This action has been productive
81 considerable buying. Sales, however,
are for. prompt deliveries. Chicago IL
often termed the dumping ground Tor all
the iron districts in the country at a
time Of low prices. Theprcsent situation
in that market seems IN justify the theory.
The quantity a iron offered is not large,
but certain prices that have been quoted
on Southern irons are only explained on
the theory ofnecessity torealize. South
ern No. foundry has been offered at
SIG in large deals, and other grades in
proportion. Our Detroit correspondents
fwm. +. Jarvis K Coz write; "The
general market can be said TO have been
pretty well unveiled during the past week,
aud can hardly be satisfactory 10 the
iurnaee-men, particularly in the South.
A number OF large deals for grey Jorge
and low grades 81 foundry (Southernl
irons were made during the past week,
and developed weakness which was not
expected, inasmuch as prices showed
nearly as low "A level as any figures oil
1889, mt the worst time. IL seemed 10
be scramble for business at nearly any
figure. The general idea seems To he
that the large buying in this and other
sections OF the county will place values
al once upon better plane, but there
can be no hesitation IN reporting that
the market il very weak mt the present
time. a somewhat noteworthy feature
ia the general market, is the strength
shown i'm Lake Superior charcoal irons,
notwithstanding the general depression
in other grades. The market for this
grade cannot well be on much lower
basis than existing figures. While many
furnaces are sold ahead, the outlook for
large tonnage business generally was
never better than at present, and it is
expected that no lowering OF prices for
this grade of metal will bc seen for some
time to come This is largely due To the
fact that little, IL any, increase has been
made in the production, and the con-
sumption for car wheel and malleable
use will be considerably larger than in
1890" Pittsburgh, Buffalo and sc.
Louis report very little change from last
advices. Our English correspondents O..
w. Royce a. Co, OF Birmingham), report
a hopeful feeling for the future in pig and
manufactured ron.---Iron Orc.-No
important sales are reported for the
week, but the pressing inquiries made 10y
Eastern steel makers for Bessemer ores
serve az an Indication Of the drift oi
affairs, and add TO the strength OF the
ore market. IL is reasonably certain
that under favorable conditions another
half million tons OF Bessemers may be-
mined for 1890 delivery, and the demand
for this class Of ores is proportionate to
the marketable output in the ratio q
ten to one. Very little is being done IN
secund-grade ores, OF which some con
siderable amount IL not disposed OF az
yet, but the ore dealers apprehend nc
sort OF difficulty In obtaining November
prices, with chance for "A better quota
ton further along. In reply to thu
statement made some time ago by certain
furnace interests As To the loss, by reason
OF moisture IN working hematite ores, tin
answer Is made that the loss complained
OF il more than offset by the increased
fuel cost IN smelling hard ORES, and that
while hard ores are undeniably the BEES
Tor long hauls, the condition oil the loca
market iavor the use oihematitcs, unless
fancy article IL desired for specia
purpose. The statement is also mad
that furnace working On hematites vii
turn out more pig iron per day thar
when smelling hard ores, so that what
ever loss may occur, by the consumer
81 henatite, by reason OF getting iron
two TO four per cent. OF water IN thei
ores that have been exposed 10 TN
water any length OF time, is more thai
4 made up 10y the increased drawbacks u
I: the use OF hard ores, Vessel chartersar
4 very quiet and go without change. COX
\ remains at So 3 for the prcsent.---Pi
-. NNL.l. "a 4. ....,oes.lts, aoteab thu