The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1890-05-31

April have largely disappeared, and that
by the first of June many furnaces will
be i'm condition OF having no stocks
whatsoever. One correspondent writes:
at is felt that the passage of the Silver
bill will increase speculation IN railway
securities, which has always resulted IN
"a large increase OF construction oil rail-
ways and purchase OF motive power and
equipment, and that, considering the
enormous increase IN consumption when
the demand for railway purposes has
been very light, IL is evident that the in
crease of railway construction will great
ly benefit the market" The consump-
tion of iron continues heavy And the
| business outlook for manufacturers
promising. At Cincinnati. there is IN
active business current ut low prices.
Comparing with the corresponding time
last year, IL IL found that I'm southern
ut least the volume OF new orders and OF
shipments is largely in excess. The in
crease will probably average 30 per cent.
This results partly from the practical
suspension OF business FOR two or three
months ut the beginning OF the year,
when sellers and buyers weres so lar apart,
as To prices At the close OF the week,
unusually heavy inquiries We're before
leading sellers amounting, in the aggre-
gate, Co over 1000 tons grey forge and,
perhaps, 5000 tons No. 3 foundry and
notified. While the market east and
north presents no features Of encourage
ment, and the prevailing feeling is bear
ish, the situation west and south Is as
firm as at any time during the past
month, and the heavy volume OF inqui-
ries from legitima o. consumers il thought
To give assurance that there will be no
further decline for some time at least
There is n lair business in charcoal irons
north and south and i'm Ohio softeners,
but the heavy tonnage still runs to
southern coke irons. Our Detroit CORES
pondents wv. r. Jarvis * Col write:
Every large transactions are reported
for nearly every grade OF metal during
the past week. Several lots OF southern
foundry and forge pig iron were placed
at prices slightly higher than those OF the
early part OF the month, clearly demon
strating that bottom was then reached.
No concessions on quoted figures are
possible at present The cOnsump-
ton seems TO beincreasing, and hclthier
outlook all through isobservable. Lake
Superior charcoal iron, which has shown
no activity during the present month.
was also stirred up TO the extent OF a
number al orders of more than ordinary
quantity, and inquiries at hand to-day.
provided they are followed by prompt
buying, will cause more selling in the
month of May than any previous month
this year. Stocks in the hands OF con-
sunlcrs are Known to he light, and il il
predicted that between May 10th and
July 18th greater tonnage 81 Lake SUI
perior charcoal pig iron will be placed
than during any sixty or ninety days
previously in the history OF the trade.
The market is stronger in nearly every
grade" There has been lively business
IN car-lots, 5O-ton lots and 1O0-ton lots
at Chicage, and two or three buyers have
been negotiating forlarge-sized contracts.
Prices remain very firm Mt the low level
previously reported. Business is distrib-
uted between local furnaces, Southern
irons and Ohio brands. There il evidence
that should prices decline lower, n great
deal Of iron win be taken and stored for
speculative accounts. Lake Superior
charcoal irons hold up well, but the heavy
buying by malleable and car wheel works
has not begun. The large northwestern
agricultural works have not entered the
market vet Their requirements viii be
heavy this season. lndicationsgenernll
seem hopeful and healthy. The Sc. Louis
market has been quiet during the past
week, with regular run Of small and
medium orders ut unchanged figures
Matters have improved n little in the
Pittsburgh market since last report.
Bcsaner pig iron has advanced from fifty
cents Co 81 per ton, and mill iron, while
not absolutely higher, IT. certainly firmer
and In better demand ---l ron ore. YES
sells arriving at lower lake ports with
cargocs oi ore report unusnnl delays ON
account of the condition 81 the ore which
in very many instances. IL frozen solid In
the stock piles. No sales are reported,
and there IL nc Improvement In the
demand. In reference to n Duluth opinion
that Lake Superior mines will produce
all the ore they have sold, and the fur
nnces will be able to consume NIL they
have purchased" IL il in order e. state
that the first assertion IL contrary to
the facts, while the second IL discrcdited
heren right where the iron IA made
The Lake Superior mines will not produce
all che ore they have sold. Tor two rea-
SONS. One OF these Is the sale, bona ndc
but iniudicious, 81 more ore IN some In
stances than certain mines will produce,
while another reason is found In the re-
fusal on the part ~ the furnace interests
60 accept and pay Tor large unAntitirs 81
new ore sold last TALL during The rush
upon a guarantee and analysis, neither
oi which ~ confirmed by tho ore itself
Those are potent reasons in confirmation