The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1890-11-01

has hung so long over Wall street. and has put
a stop TO the fears OF panic and general liqnida
ton which ~ one time prevailed. Active buying
Is reported Ia the Chicago market, northern and
southern coke brands being largely in the lead.
Lots Of 600 TO 600 tons have been freely
booked and the result Is that the sales OF the
week foot up good sized tonnage. silveries
aud soft irons have also moved In large blocks
one or two OF the Ohio furnaces having come In
90 the market and forced sales at from fifty
cents 20 = per ton concession. There has been
some movement OF Tennessee charcoal irons
but, for the most part, both southern aud Lake
superior chnrcoals have been quiet. indica
tions, however, all point TO considerable buying
OF the latter during the next sixty days. The
conditions which ordinarily produce a strong
aud advancing market seem 20 be present in the
Pittsburgh market, aud yet pig iron does not
advance, but Is weak and neglected. Possibly a
change for the better may be nearer at hand
than many generally suppose IL 20 he. At
Detroit there Is an increased demand for low
grade southern iron. Jackson county silvcres
are scarce az full figures Lake Superior char
coal has shown but few transactions. the larger
buyers having already placed all or nearly all OF
their orders, the delivery OF which will generally
be completed by December LIST. the close OF nav
igation Manufactured iron OF nearly every
description il In good demand az firm figures.
aud prompt deliveries hard 60 obtain Sc Louis
again reports a lair aggregate of business during
the week, aud undiminished activity on the part
OF local consumers. Southern furnaces are now
statisticaliy IN stronger position than at any
time during the year, aud AN early rise IN prices
would scarcely surprise any one. The fact that
consumption seems 20 be little In excess of
production has. our Louisville correspondent
writes, caused one or two southern companies
Ga advance their prices twenty-five ccnts, max
ing grey forge on the basis Of SiO.75 at furnace.
IL Is felt that this price can be maintained aud
that sales at Sill for grey forge will be made
before long. At the present time the indications
ut Buffalo point toward al Increased ilrmness
in tone for the pig IRON market. There is AN en-
tire absence of uniformity OF prices a great
variety OF quotations being given for different
brands which are OF the same general character.
Iron Ore.-'fhe end OF the shipping season
r. In sight and at least two vessel owners who
preferred 10 send their craft wild all the season
rather than tie them up with charters, have
made arrangements 10 lay up their floating
property NJ fast as II arrives In port, here or
elsewhere. The reason given for this step Is the
extremely low rate offered for ore freghts on the
one hand. aud the corresponding saving In fixed
charges and the cancellation OF marine insur-
ance accruing from the cessation OF business be
fore November LIST. Those ore producers who
hold their fleet charter are crowding down all
the ore they can and IL VIII puzzle more than
one 10 an their ENGAGEMENTS. One thing has
transpred through all the business nurries OF
the past three months, aud that Is the well.
grounded opinion that ore sales should be con
that have befalen the trade this year may be
directly trtced TO the hastv and Immense sales
made fast fall. 30 be sure. they were induced
by the eagerness Of the consumers. and the sim
utaneous demand for ore. coming, as II did.
from every quarter, was responsible for the
advance in the price. Indeed, the ore men might
lust ~ well have asked hall dollar more than
they did, and got 10, too. Thele was a strange
uneasiness among the makers Of pig iron, and
they seem bound to buy up all the ore Ia sight.
The result has been disappointing 10 both pro-
ducers and consumers. IL may be put down rs
a solid fact that the ore 60 be consumed in this
market next year VIII not be sold until after the
opening OF aviRation IN 1891, unless, indeed.
some iurnacemnn n anxious TO try the lesson OF
this year over again. During the prosperous
season OF three years ago no ore WAS sold until
we'll into June, and the chances are that "A simi-
lar condition OF affairs viii prevail Ia 1S9l.-
prices and but little Ia the activity OF the local
market. Sales continue small inextent, and Tor
short delivery only, since the furnace interests