The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1890-12-13
THE WEEK IN IRON CIRCLES.
GENERAL FEATrrEs on THE TRADE--IRON
OnE-rlu HON.

resume al the week IN iron circles:
GENERAL FeAruREs The financial situation
h. tbs one no ~ claiming prominence. and this Is
heins eagerly watched by both producers and
consumers. A feeling Of uncertainty prevails la
nli sections. though il II generally couee led that
the worst has been passed. aud that am easier
monty market l. likely 30 prevail by first OF
the year II not somewhat before. The MINER
oun r-srnt failures la financial and commercial
crchs brave fortunately had little effect on lsiti.
mate business enterprises. but they have pro-
slnrsd much feeling 81 conservation IN all Lines
Collections are fairly good considering the cir
eumstanees. Taking IL at large the iron trade
IL believed TO bee IN a sound and healthy condi-
ton Extreme caution prevails IA AN move
menie both on bart OF buyers aud sellers.
Many buyers seem 20 think that the PIE iron
market like the stock market has no bottom.
Those better Informed. however. know that be.
for, the financial troubles BEGAN iron was prac-
tcaliy selling az cost and that cost ~ this coum.
try eonn0t be further materially reduced IL
money troubles temporarily force a lower level
81 values there viii be wide spread stoppage Of
furnaces that will quickly prepare the way for
nn upward movement by heavily reducing the
output. The week under review has been broken
by "a holiday. There has. however BEEN slight
change from the ruling conditions reported
week aPo. Little business Of any kind II going
IA raw material though heavy consumption
still continues. For the time being buying seems
20 have been almost ehir.ly given up. chr load
orders being the main feature, consumers lnrCe
and small prferring 30 merely cover their inn
mediate wants, AZ Cincinnati some round or
ders have been placed during the week and in
one or two cnses special terms were made for
~.
continue 20 go forward heavily on old orders.
our chicago correspondent states that Il Is "a
difficult matter 10 tell where prices are rang
ing. as 80 few sales or any account have been
. made. Standard quotations. however. remain
unchanged from last week. though some com.
panies badly ~ need OF money are here and
there 20 bee found. ready to make concessions
There has been 40 material change Ia the situa-
tion at Detroit during the pnst week Buyers
are not anxious 90 place orders except for their
immediate wants. However "a lnfper tonnage
has becn disposed 81 than for iew weeks pre-
vious. Southern irons have been most IN de
mand, aud lew five hundred-ton orders have
been placed ana the usual run ol small orders
The closing 81 navigation on the upper lakes
viii have effect on present sales Of Lake
Superior cimr,Oal, and until the larger stocks
srnt down are somewhat diminished. The de
mand - not likely 90 be very large. This has
been anticipated and viii therefore have no e.
feet ON the prices. which on this grade of metal
are being held firm. The demand for sveries
has only been fair. and Ia some cases slight con-
cessions.have been made Very little business *
being done AZ So Louis. Iron on old contracts
Is coming forward irrcgulary on account of the
scarcity Of ears. The expected strike OF the
southern coal dealers does not alarm con.
sumcrs, although some furnaces are unwilling %
sell ahead. Prices are nominally unchanged
but concessions made ON special lots The
Louisville market IN devoid Of any features OF
special interest Trade still continues IN light
quantities and buyers show no anxiety 60 con.
tract very far ahead ON the other hand Il may
be- said that furnaces are equally as Indifferent
about engaging their product far into the future
at present lot range Of prices which barely ex-
ceed the cost Of production. There Is absolute
ly nothing new concerning the Buffalo market.
dullness being still the rule. Consumers who
usually anticipate their requirements by pur-
chases from three 60 six months ahead, continue
the holding of policy Generally speaking there
Il no pressure Co sell. although wide range OF
prices are quoted uniformity being entirely
absent In the coke trade ears are more plenti-
ful again The shipments OF last week were up
20 n good average. but production was materi-
all reduced.
Iron OKE,--rhe season Is at an end, and the
last advlces have, in some degree, settled the
speculation OF the year, which until the past few
days seem 60 have been a profound secret.
The result Is Just about that foreshadowed IN
these columns, or tribe more than 1900, 900
tons OF ore shipped by lake. Considering all the
disappontments OF the ore trade during the sea-
son now az AN end, the output Is not unsatis-
factory In extent, but the average price was
hardly up 90 the expectations Of trade. There
are at this writing stlil few vessels making
ports. bur the sudden cold snap will make fur.
Their operations impossible, aud this week will
certainly the last Of the shipments. Locally,
the only news Of any account Is the announce
ment by the Pcnokce and Geogebic Consolidated
mines, of the appointment Of Messrs. Oglebay,
Norton Co as sales agents for the Colby,
Aurora. Superior, Palms and Comet mines
representing "A total output Of 100 900 tons.
There is still occasional inquiry from eastern
parties for Bcssemer ore, at a considerable adj
vance over the original price. and Tor immediate
shipment; but not word Is heard Of any de
mand for next years ore which Is IN condrma
ton Of the opinions expressed heretofore
There are those who Say 10 viii Dee June before
amy s,tc~ Will be made
piG n,os AMER spending Two weeks ~ a.
sldnous deuials ~ tie statements Ia these
columns. of thecomhned attempt ON the part
90 tho lurnacemen Ca the Mahoning aud sheuau-
SO vailcysto reduce The output. the daily d.s.
patches from Tic localities directly Interested
hive borne tesulaQney % the truth of our ex.
closive and nbsoiufey correct Information in
tho promises At another meeting held this
week. 20 WAS resolved fully 20 carry oui the plan