The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1890-08-16

GENERAL FEATURES or THE TRADE-RoN
oRE-PIG IRON.

GENERAL FEATURES OF THE TRADE-moN
oRE-PIG IRON.
The Cleveland Iron Trade Reviews
resume Of the week in iron circles.--Gen-
eral features. the passage 81 the
Silver Bill has not yet had time TO affect
the general iron market, disappointment
IL expressed in some quarters that prices
did not advance Immediately all along
the line. IL is now felt that the heavy
shipments ofgold abroad will counteract
the favorable tendency Of this measure,
and that for the present there il nothing
TO affect the market, other than the
natural demand for iron, which at this
writing is very large. The opening OF the
fall buying has commenced Mt Louisville
with purchases being made specially for
notified and white by rolling mills to
bridge over the hot weather. At the
same time orders are being placed for
deliveries running through this year and
for the first six months OF next. The
sales SO lar have not been large. but IL Is
Thought the coming week viii witness the
placing Of large orders on the part OF the
pipe men, followed by general sales for
extended deliveries. 1t is not thought
there will be any marked advance, but
that sales will be largely based on present
prices, but these will tend to advance
prices and probably fifty cents a ton
more will bc asked the late purchasers.
There are several new furnaces that will
60 in blast during the next thirty days
in the south, but their output has been
anticipated and commented upon for n
long time, SO that their effect has already
been discounted. Ii is thought the pres
ent moment in n favorable one TO make
purchases and there Is no danger Tor buy
ers when prices are mt the present low
point. The past week has given the
usual amount OF midsummer buying at
Chicago, few sales having been made for
anything but small quantities, business
placed AS n rule for early deliveries.
Prices in NIL lines are well maintained
and firmness characterizes the market in
this respect. The outlook for autumn
business continues good and present in
dications all point TO general activity in
iron and steel circles during the remand.
er Of the year. There has been no buying
oflarge amounts at Detroit, but quite a
brisk trade In one and two car load
orders.s From the inquiries received IL IL
very evident that the large buyers ol
Lake Superior charcoal who have not
already contracted for their seasons
supply, are now about ready TO do SO
The general opinion among furnacemen
appears TO he that these orders will take
.np the entire balance OF their output for
fheyear. Several furnaces IRE compelled
10 receive orders mt full prices from rcgu-
lar customers, for they cannot make
deliveries before the close al navigation
ON the lakes. The recent advance made
by southern furnaces is being well main
tanned, az in also the advance in first.
class silyeries. Consumption still con.
tinues very large, and deliveries arc being
called for faster than specified la this
original contract, Business la pig iron
at Buffalo has been quiet, but prices are
generally firm, especially Is this so among
furnaces making Lake Superior strong
iron. Ohio silvery soitenen have been
offered Mt very low 6gures, apparently to
force sales. but withiew exceptions prices
ARE maintained Sales at st. Louis are
a.. 81
customary conditions 81 the business al
this time oi the year. In the meantime
consumers are very busy and many OF
them are using up iron faster than they
had anticipated. Southern furnacesgen'
orally claim TO be well sold up, and some
.oi them are decidedly backward In ship
,monts Of certain grades. The market
jor pig iron at Cincinnati has been quiet