The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1890-09-06
THE WEEK IN IRON CIRCLES.
GENERAL FEATURES OF THE TRADE-IRoN
ORE-PIG IRON.

GENERAL FEATURES OF THE TRADE-IRoN
ORE-PIG IRON.
The Cleveland Iron Trade Review
resume Of the week in iron circles. Gen
eral features. -" ilopefullness" il the
word that most nearly describes the feel
ing in central western iron markets. The
heavy cotton crop OF the south, il il
thought, will make business more active
after the first OF the year, and the inct
that ia the West n large amount OF grain
has been held over from hast year, which
can now be sold at a handsome price,
will, it is considered, improve the situa-
ton there. Enormous quantities OF
structural iron and steel will soon be i'm
demand for extensive building enterpris-
es IA Chicago and other cities, and lake
shipyards will take all the ship plate
that can he had. The coke trade grows
better as September approaches, and
enthusiasts predict that the tall trade
will beat the best boom record yet
made" Money IL still dear in the east
aud this has had the effect OF clogging
lbusiness somewhat i'm the west, one
Cleveland bank, IL Is stated, having re-
Gently borrowed from the New York
banks TO the extent Of 500, 900 to sup
ply simply the needs oi It's regular cus-
TONERS. The sttingency, however, isgen-
orally recognized az only temporary.
and the situation will no doubt la ~
lieved within few days AZ Detroit
there is unquestiohnbly a tirmerand bet
ter feeling Tor every grade ON the pig iron
list. Transactions have increased in
number but none of large amounts have
been reported. Generally tile buyers OF
the past week have wanted from 30 to
300 tons, forrensounhlyp romptd delivery
This particularly refers TO southern iron
However, Lake superior charcoal re-
mains normal respecting price, although
one or two deals uf u few hundred tons
each were closed in the Detroit market
since our last report. Shipping on this
grade Is being pushed forward rapidly, to
fill the large orders placed during June
La manufactured iron the demand has
been large for nearly every class oi ma
terial. Some round orders Tor bar iron
ayleS, and tank steel have been placed
The chief difficulty seems "a be with the
mills being unable TO furnish within the
necessary time. Every class OF iron and
steel industry would seem Go be pushed
Go its greatest extent Better prices are
looked for, both 10y sellers and BUYERS
The market for pig iron at Cincinnati.
during the past week. has been uuiet. but
a more confident and tirlncr feeling has
prevailed. although there has been no
advance IN prices The orders have en-
braccd the entire rnnle, from No. ioun-
dry TO white irons ~ coke variety, and
M. ! To No. charcoal. The southern
furnaces are less inclined Co grant either
concessions ln price or delivery, bnsing
their views upon the large decrease Of
iron stocks ia the south during the past
month. Northern stacks, too, although
less fortified 10y statistics, preserve IA
firm feeling. because ~ heavy melting
and liberal orders Toward the close of
the week some transactions Of moment
were affected. The market Ht Louisville
has not been active during thcpast week.
aud sales have been for small amounts
IL rs fortunate, owing Co some 81 the
large companies having made their pur-
chases Tor the Tall during the past three
weeks, that furnaces are not compelled
60 push their IRON upon the market az
the present time. and are CARRYING small
stocks, their output ia most INSTANCE.
being sold up Tor three months or tie
balance 81 the year. and they hope by
that time To find "a much better feeling.
While the amount al business placed dur.
iug the past week at Chicago has not
been large, a lair run ~ small orders has
been booked. prominent feature al
present j. tie demand from consumers
Far prompt deliveries on existing CON
tracts. Prices continue firm ON both
northern md southern brands. The
past weel, developed moderate mum.
Ter ul inquiries, at ST. Louis, whilst
lew medium sizrd orders have been placed
at irregular figures. Consumption con
tinues active, and, with few exceptions.
southern furnaces present a strong front.
TIcipis a quiet bat steady trstdc i'm Ohio
soitencrs nt unchanged iigues. In char
coal IRONS there Is scarcely any move