The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1890-05-03

river present ~ interesting study thre
days. II 10 estimated roughly that they
show unfilIe<l orders amounting 10 not
less than 250, 900 tons. while the neerc-
gate of stocks on furnace banks win not
reach one-ifih Of this. Indeed. the
surplus supply Of the majority Of plants,
both North and South. which look 20
the open market, WIS, April !, less
than two weeks make. As near as can
be sscertained the orders placed for
Southern using during the past two
weeks aggregate the largest tonnage ever
recorded for an equal length 81 time.
One company with four stacks has 3D.
900 tons sold ahead. Another large
corporation has fully double that
quantity. The situation, therefore,
seems healthy from "A Southern stand
point. The many rumors that have
been afioat ~ Cincinnati, as To except
ionally low prices ON Southern and other
irons in recent sales when traced down,
have proved groundless. Extraordinary
claims have been made by buyers as TO
what they could do in purchases but il
IL noted that they have been willing to
put in heavy orders mt schedule prices.
The general Indications of the Detroit
market for the past week, as reported
by w. +. Jarvis < Co, have pointed TO
greater strength, and showed that bottom
prices had rnquestionably been touched;
and while this il the case, there were a
sufficient number OF soft spots To enable
some buyers 60 obtain some round lots
at as low figures ms have been made this
year. This particularly applies TO
Southern coke irons Southern charcoal
irons showed weakness in one transac-
ton "a considerable magnitude Lake
Superior charcoal has been dull, but the
few transactions show the market 10 be
strong. Large buyers Of foundry irons
are pretty we'll supplied at the present
time, but the smaller ones are casting
about. endenvoring TO place their orders
now for as long deliveries as they can get.
being assured that bottom prices have
been reached The week at Chicago has
been on the whole an active one. Several
good sized transac tions In Southern irons
have been closed and at prices that are
slight Improvement on figures obtained
in that market week or two ago.
Whilst no large orders have been placed
la St Louis during the week, there has
been and continues TO be a steady buying
movement. Southern furnaces having
secured a heavy aggregated OF orders, are
no longer DESTROYS Of pressing sales; and
they are asking higher figures, especially
for late deliveries. Ohio soiterris re-
main firm, with a fair demand. There rs
no large business doing incharcoal irons (;
but furnaces claim to be well sold, and
refuse concessions. The firmness In tone
noticed in the South during the latter
part Of last week has eliminated IL, an
advance at Buffalo OF from twenty-five
To fifty cents per ton on all foundry
grades. Northern irons are still weak,
but there are no changes In prices to
report from that quarter. An active
buying movement exists at Louisville.
The market is not regular, though the
tendency In upward. Selling Tor delivery
during the last part OF the year on the
basis OF $ll grey forge, at furnace, is i'm
dulged in by some Of the large companies.
Notwithstanding some OF these com
panics have bought roundly they are in
the market for more iron, showing that
they feel the present time a desirable one
to buy heavier than ordinarily. The
improvement which is reported from
some quarters has not yet been felt mt
Pittsburgh, as FAR as mill iron IL con-
cerned. Bessemer iron seems To have
touched bottom Mt last.--Iron Ore
To the close observer IL must he evident
by this time that, at least as FAR as the
producers interests are concerned, the
present season will bring considerable
disappointment to the iron ore trade.
When the heavy sales Of last Fall were
being negotiated, and when every pro-
ducer OF iron ore found market, at his
own rate, for anything he had To offer,
the opinion was advanced-and at that
time il seemed TO be justified by theiacts
that the 1890 production would reach,
II not exceed. nine million tons. Since
then, the situation has been materially
changed. and IL Is apparent to the most
sanguine that modification Of that
estimate Ia in order. II may be that, in
"A great many instances, ore producers
were governed in their sales by the desire