The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1890-03-15


sumers believe that the tendency 81 the market
n In their favor. and place no orders except for
small lots. TO supply immediate needs. Theiast
week In February showed some good transae-
tions IA Lake superior charcoal IRON. rr"s,
small round lots, aenreeating several Thousand
tons. placed AT ruling rates, Tor delivery
both PRIOR 10 and after the opening OF neviEn-
ton While some iirmness seen for this
grade ~ metal. BY the known refusal ~ an oirr
at cut ~ 81 per ton under ruling rates, ana
while state OF activity can be reported among
the charcoal iron men. with equal truth may II
be said that the transactions Tor foundry grades
oi metal have been almost absolutely nothing
IL would rrrm as II the next three weeks would
tell the tale and that upon the result ~ pressure
10 buy or SELL the market viii be more dennitly
settled one way or the other The Louisville
market has been very quiet during the past week
Trade has been confined mostly To quantities In
carloads mp 90 900 aud 300 ton lots Buyers
are still unwilling 20 buy ahead az the prizes at
which some Of the furnaces ARE holding. and the
result il that most 81 the trading has been Ia
grades not controlledby the agreed prices Some
purchasers ~ round quantities that have been
contemplated by buyers have been abandoned.
they believing they can do better by waiting.
Quietness continues TO characterize the ST Louis
market. although the situation Is stronger than
"A month ago. Orders ARE mostly Tor carload
lots, but their increasing number point TO "A
gradual depletion 81 stocks la consumers hands
and probable aug'nents ton ofbusiness during
March. Southern furiiaces and manufacturers
ofOhiO snftcnrrS ARE, with one Ort two exceptions
demanding full prices and refusing any sort Of
concessions The dnllness noted n last report
from Pittsburgh j. stu the prevailing condition
Of the market. and prices ar even weaker than
M that time. especially in Bes~emer iron. while
every one seems hopeful OF better times not far
ahead II T. hardly 20 be expected that much
business will be done until buyers are convinced
that the downward movement has spent IT,
force Although little activity shows a. yet at
Buffalo, there Is stu an nndercurrnt OF inquiry.
Some furnaces show a disposition Co sell 40 eat
price,. Iron Ora humorous item has been
going the rounds that the Bethlehem Iron Co.
Of Pennsylvania has DECIDED not 10 purchase
any Lake superior ore this season, and that the
mining interests OF the lake regions are greatly
disturbed thcrent. 10 VII to- news indeed TO the
local ore dealers 20 learn that Lake Superior
BesSemer ore has hitherto found its way to the
Bethlehem works; or II IL did that n was more
than a mou'hfnl, 50 90 sneak. 40 any rate. the
Pennsylvania manufacturers 81 steel nre rcportd
as threatening 60 get their supply OF ore from
tnbH and other foreign fields There A. reason
10 douhf snch assertions The only One~ 90 get
any Cuban ore are The stockholders 100 Major
Hrent's enterprise while aii at the spanish ont
put, certainly the hest urude OF ore. has long
breu Snld n England, al AN advance over 1850
prices 90 from - 90 F3 d ton The fact "A that
the Pennsylvania steel makers ARE in mo- position
10 chose very much. They viii either have %
buy Lake superior br~remer or,-. providing
there ngv some uiisold. ~ wh iteyer the holders
may ask, or else they Nlll lnyc O. come into this
mnrkef AMI buy their ne-~cmor plg outright
There e. very little doing in the ore market but
the shipping interests are ali tht more active. as
nuenrly opening OF navigation IT, eN pected The
renorfrd sale 81 the Jackson mine o. pronounced
a myth hy the owners. The Clesenud Rolling Mif
Co and The syndicate az eastern bankers
represented in the west hy MIR Ferdinand
Schlreiuleer. has WudeuO addition "a Vet to their
Investments Mr. Sthesiue,r WAS In town this
week. and when approached upon the subject
said lyon see. this buying NJ ~ mines has be.
become such regular habit With me that hny
AZ least one every morning before breakfast,
With sometimes railway "a liue ~ steamers
for q change "-- Pig Iron After an T. ron~id.
erred. and when account H. taken Of the peculiar
features which characterize the pic iron trade al
the central west ~ this time. u may be said that
the outlook - better. certainly for min iron, "
for npur other. Aud vet there ought To be no
room for complaint in any line even IL the pres
cnt quotations are not productive Of ~ large
profits "a the large advance of last October
aecmed 90 Justify. The average price az pig iron
IS from -four five dollars a ton better 10 day than
u was nine months ago. 80 that the profit mar.
gin cannot be- argued away. Then the sharp
advance above alluded - Eave rise 10 an upward
movement that was not borne out Nv "a CORE
spending Increase Ia the demand. aud the result
WIS That the signs al decline were apparent
even before the firnnceS had an opportunity 20
fll nv ou high priced orders Now that "A good
many of these orders have bren filed there n u
nuturil hrsitaicy on the part Of the large con
SINNERS 90 involve themselves IN anyconSiderable
purchases with moral assurance that they are
That this IS the time 20 buy seems 10 be- attest.
ed by the activity ~ the past week. as well a. by
the fut that the furnace interests. as n rule,
srem determined 20 makeno further concessions
Prices arr very steady, ranging from $40 % 10
: 10 80 cash az valley furnaces lorfOundry while
mill iron j. strong at SITS
.