The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1890-02-22

PRICES Southern makers hold firm 20 their
schedule and decline 10 make concessions. There
Is not much speculative iron Offering 1--WE are
unable 20 report any changn Ia the condition OF
the market" write VIM. n. Jarvis a Co.. Of
Detroit. "lt Is practically - game ol endurance
between the buyer aud seller. There must be,
within "a comparatively short time. considerable
iron bought. Many OF the furnaces claim that
they have orders enough ahead not 60 bother
about taking more for the next sixty days II
this Is a fact. We think that the furnaces will
prove the stronger. and the buyers viii be
forced Co take offered figures. AZ the same time
there are not few furnaces who are decidedly
weak Ia their position. being anxious 20 sell at
reduced prices from quoted rates Lake super
Tor charcoal Is practically where n has been for
the last two weeks. The outlook for the main
tenance of prices for this grade ofmetal Is better
perhaps than for any other on the list There
have been no transaction OF any magnitude for
a week past but a few Inquiries foe round lots
have been received which may result Ia having
the actual figures OF the market defined more
clearly The Louisville market Is showing some
activity. aud inquiries are coming IN more
freely than at any time for the hast six weeks.
some manufacturers lind that they have sold
their finished product 90 an extent that makes
" wise 20 buy for future delivery 20 cover sales
made II looks az II the dullness which has ex.
fsted since the middle oi December would soon
pass away, and that buyers would purchase
more freely without fear Of ans serious decline
II Is believed that during the spring prices will
advance again. and that before the close OF the
year the market viii show much higher range
OF values. The figures at which some of the
leading southern companies are holding, practi.
sllly shut them off from many northern points
Where they naturally have 60 compete with
northern metals Some OF the buyers who have
been looking for break IN prices at Chicago. as
the result OF the quiet market since Christmas,
are disappointed Values In the main have held
up well Foundries are taking iron rapidly ON
old contracts and win shortly have need 20 re.
plcnish stocks. Here and there speculator or
weak -kneed furnacc-man has been running
around with small lotsat cut prices, but the
effect while disquieting, has not been marked.
Lake Superior charcoal hlrnaces were perhaps
never sold SO extensively ahead as at this time.
Good Ohio soitcners are In steady demand.
Current business continues In small lots and at
practically unchanged prices. Enquiries during
the past week at 81. Louis have been somewhat
larger than Ia January. but there continues to
be- gap batwecn the demands Of southern fur.
naccs and the figures that consumers seem Will
ing to pay A few soealled outside lots ON
which cut prices have hecn made. are mamlGed.
reported over and over again. causlngconsnmers
to think the market weaker than the facts
Justify Most OF the southern hrnaes are hold
ing mp prices firmly. and decline TO make con.
cessions Makers of Ohio softeners are fairly
well sold, and their quotations i'm this market
E.1..u taf al.
continue for considerable amounts for this time
Of the year. Many consumers are holding off.
however, until In actual want, and buying ia
car lots for Immediate consumption only. The
duIlncss heretofore reported ut Pittsburgh. con
tinues unchanged and the desire Of some holders
Of pig iron 10 secure sales has weakened pricrs
to some extent, so that quotations are slnde
lower The advance in coke. whch "ent INTO
effect on the 10th inst. will however. enhance
the cost OF iron from sixty 10 seven,y-6yc cents
per ton. and ought 10 stop further consession
and have u tendency 10 put prices Iron Ore
IL one half the rumors Of the sales Of mining
prove true. the mining business Ut the
Lake Superior country win soon be under the
OF n very few owners. and the muItirnee
81 stockholders win give way TO half "A dozen
syndlcatcs While such course would no
doubt. enhance the value Of stocks, the policy ~
the ore market Is one that must be
regarded with grave misgiyings There IN little
doubt that the mining business IL concentrated
INTO ''safe" hands that n. into pools and syn
iicates with strong financial backing and able
10 buy up paying properties az fast as offered.
The danger which may be distant ~ yet, but
which Il sure TO come nearer with the growth OF
the syndicates Hes I'm the control by few peo-
pie Of the vast mining interests and the posi-
bities offered 20 people Of speculative turn.
IL Is a.questlon that IN beginning 20 agitate
he consumers Of iron ORE and while nothing
may occur within a year or two Co influence the
market. the fact remains that with the growth
n the syndicates there must come such "A sup
pru-sl0n Of active aud healthy competition as
viii leave the few remaining owners Of ore mines
10 dictate the prlce The local market affords
some surprises also. Although for two months
Dr. more the ore trade proiessed 60 be sold up
altoerther on Bessemers. there Is now offered
100 600 tons of that grade ont Of single mine. |
aud the next week will see the offering OF 10000
more, OF another knd. The ore business il
much like the trade In old iron rails--the more
there II sold the mon Ii lcft pig iron.r-The
slump still continues. but lts effect ~ felt In the
absence Of sales rather than la the milling off OF
quotations. The fact seems 20 be that furnaces.
being sold mp pretty well until the close OF April
40 not care 60 take large orders nc che ruling
prices. while consumers. having found weak
pot here and there. are slow 10 give upa point I
4 advantage. The coke question: although set
He'd ~ betwecn the nicii aud their employers Is
- undecided a. ever az relates 20 the coiisnm-
rs The settlement 81 the labor question I
secures TO the coke syndicateetendy work during (
he remainder OF 1890. and the price of furnace I
men has been advanced IN turn. forty cents
ON. 20 hold good during February only This !
makes the price SAILS az the ovens but the 4