The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1891-06-06

GENERAL FEATuREs. THE growing
doubts about the outcome III the crops
have been largely set nt rest by the rains
throughout the country during the past
week. In some localities. perhaps, they
did not come soon enough. but generally
the harm done by the drought ~ not
Iron consumption continues ia
advance al production, and stocks are
down almost 10 the minimum recorded
point. The continued drain on our gold
reserve, with the consequent tightening up
az money markets, hns increased the feel-
inc 81 extreme caution that has char
neterized all dealing since the troubles ~
81 last fall. Any decided Improvement.
therefore, ~ likely to be postponed until
the financial situation isclenici up some
what. There has mol been much change
IN the furnace situation noftha and south.
Among the lew active furnaces 10 north
ern Ohio, cumplnint comes az local labor
troubles that has caused stoppace. In
the birmingham district nearly all the
furnaces ARE producing, and there H. proof
of Improved practice both ia larger pro-
portions ~ higher grades. and IN the i'm
creased output. The cuke strike has
been officially declared at an end. The
total production OF the tonncllsville
region last week was 50.S25 tons. an in.
crease ~ 5.730 tons over the previous
week. A still greater increase il looked
for this week. The pig iron situated in
the central west may be outlined Ms
follows: Business at Detroit during the
past week has certainly leen anything
but duh. but we still haveto report, also,
anything but entirely satisfactory as far
as figures are concerned. There was. TO
he sure. some strength shown in prices
ON southern foundry and forge irons, but
decided advance. One round lot 81
southern forge went at $40 cash, at the
furnace, while another brought u slightly
higher figure. owing To- the extensions in
delivery. No transactions whatever can
be noted on northern coke irons. except
n few ears az hlackband ore iron and
Jackson county silvcries. Lake Superior
charcoal showed continued large ira nsac-
tion. chiefly in the eastern and central
markets. Prices were low, but no lower
than they have been. The market gener-
ally may le said to- look a triile better.
The general situation. at Chicago, is
somewhat improved the outlook seems
to point towards better prices and more
activity among meltets 81 iron. Lake
Superior chnrcoals. which ftr weeks have
been selling at the lowest prices ever
known. have advanced. aud the leading
companies fire now all holding at $500,
Chicago. Local coke irons are scarce
for immediate and early delivery. South
ern coke irons are moving In round lots.
Buying at Louisville continues lair. with
some parties now showing n disposition
to buy for long deliveries, and there were
two or three instances where buyers ha We
been i'm the market for running twelve
months, aud in some cases for deliveries
To begin next fall running through the
coming season. One 81 the largest coin-
panies has sold 10000 to14,o 900 tons
ON basis OF $1O25 for grey forge Birming-
ham. and is standing firmly Mt this price.
which may bc considered the price to-day
for grey forge by the leading companies
with very little disposition on the part OF
others 20 shade. Considering the present