The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1891-10-31
FROM THE MARKETS.
General Features OF the Iron Business-lron Or
M0vemcnts~~Pig Iron.

Movements-~Pig Iron.
The Cleveland Iron Trade Reviews re
sumo of the week in iron circles:
Money comparatively easy. iron ore flrm. Itg
iron stationary: steel temporarily weak rail-
roads exceedingly hngy-~thnt H. the situation in
"a nutshell. Tile nng IN appears below. Ia our
reports from leading Central Western points
At Cincinnati. whatever change there has been
the direction Of strength. There are many or
ders placed for nearby deliveries. ~ BUYERS Toe
the most part ARE well supplied with Iron. Con
siderable buying Tor next years deliveries Is
ported. For deliveries BEGINNING January aai
running 90 July or December. furnaces ARE ask
ng from fifty cents To ~ 80 per ton above pr,ss
rnt pfices. I'm some eases buyers have been VA ,
Ing TO pay this a. "A protection against posSihir
still further advaner in 1892. Most inrnAss
however. fight shy of forward sales unless de'lN
cries begin IN October or November Southern
coke irons are the strongest element IN the situn
ton. Northern coke irons have not improved
any IA price. aud there signs of weakness la
spots Our Louisville advioe~ are 10 the eiiu
that there have been lai1- bsocks OF car wlrei
iron sold during the past week 90 CONSUMERS,
one company buying 5000 tons and paying
spot cash, permitting the iron To be delivered 40
once. owing 20 the heavy sales during the pn4t
sixty days. the large stocks Of charcoal irons
have been nearly closed out and IL II iclt that
any further demand will cRnse AN advnne.
Purchasers Of coke iron hni prices stronger ant
whore deliveries are for next year Sll.6p ~
asked for No. foundry, especially where ship
ments viii not begin until January sales have
are 81 20. With the approaching shipment
cotton IL N expected that the shOrtage oI =
viii De greater than ever before aud that u viii
DE wise FOR consumers 60 carry unusually heavy
stock OF iron during the TALL General activity
continues 90 charaetcrize the Chicago market n
number ~ deals 81 size having been put through
during the past week. aud others ARE now pend
Ing Pricc- remain on praci cally the same basis
az a week ago. though there n tribe more firin
ness ~ some dirstions on the point ol maki,'g
long deliveries on the other hand. some OF the
coke FURNACES of the Chicago district are making
propositions ~ present figures covering delivery
during the entire year OF lSo2. but the southern
companies are opposed 60 contracts at his char
actcr a. q with here and there nm exception, ~.
not wiling 40 present 10 sell beyond next sprn1.
puirfrills even 90 restrict sales 20 January
While this IL "a fact both coke aud charcoal fisr.
nafe~ cou,r,le that there N likely 90 be hut ittr
change Ia the way Oi prices during the balance ui
the year, with one accord. however they look
for much heavier demand aud better figures ate
January Lake superior charcoaS ARE so -.
what less firm than has been the ease dntinn the
past mouth or two. II i even reported that "a
number ~ heading brands can today be pur-
chased az SlT Chicagn; some companies
siill getting, however from SIS "a $lb on I -
score oi special quality. While no large pnr-
chuscs Of pig metal have been made during the
past week az Detroit there has been an unusu A
ly large number Of small orders from lo,ulS
20 lOo tons. nuh these coupled With new enquir
les Tor laracr amounts which luuat hc shorty
placed, show the market In 10 very fair conditions,
~ this general demand seems To continue from
week 60 week. There haS been an nctive pnr
i
lions. notably among the ear companies. IL
would seem "a. II some oi the railroad companies
We're buylngequipment literally. which hsreto-
fore has always meant decided Improvement
Ia the iron market, The improved demand 60 4.
| tinues az Buffalo, but sales BY no means come
up ~ the tonnage pxnepted q Iew weeksaHo. Nv.
quiry IN increasing. The long dullness, however
bad rendered BUYERS in that vicinity even muru
| conservative than usual Carload trade for i'm
mediate shipment. iogsther with inquiry Tor
round lots for 1902 delivery. ARE the principal
features Of the market. Some good sized orde .
were placed in Sc Louis within the past week
notably among the ear works
THE lOCAL SITUATION There has been but III
t.e change in the situation since last week bat u
] better feeling II nnd6nlably shrpad, aud the w
suit ~ ikcy 90 be made manifest before the
| close 81 navigation Although the owners N.
grain are still holding on frcights have somewhat
| improved aud, Il Il now thought win hold M,
| pretty well from now on. The reason for this iS
! found IN thc preparation lOF laying IN u good
| percentages ui tha lake fleet, partly 20 save the
tHoniy per cent. 81 inSnranp1 aud the remalnlirt
EXPENSES ~ the SEASON EXPENSES, too, that grow
/ heavier toward the fag end Of the shipping 49,
/ sOu--und partly % insure suhciency Ol busl
ness for that portion of the ilcet that II to re-
| mniu n commission by this means u ~ hoped
/ 20 prOcur- enough work for good part OF the
lake shipping. while removing at the same time
the source OF low freghts. an Overplus oicarrlcrs
/ n. as ~ possible. the grain fnrwarders should
tahe u into their hpads 20 lrt po Ut some OF their
| holdings, the result would mean u jam that must
of necessity mean high rates for gram, aud q
prOhibltve rate for such orc az " Co come d. Stl
|
Of the smaller CARRIERS have already stripped
aud quite y few ~ the hleaer steamers aN oniy
| NHltinp 90 rnmplntr the several trips on whlct
they arc now ellgaRed before tying ip az the luck
| Tor the winter. The rairoads, az such OF them
Us are directly interested, are, u course, doing
AL they can 20 maintain tho grain holdings a.
DE vest ia the hnpp " rpaplng the ultimate
beneht ~ hauling " al themselves. but 20 Just
what extent their expectations arc Justified re
mains 60 hc seen. There has been quite lively
demand for orr this week. not only Tor non. Ises.
semcrs. hut Tor high grade well. ns IN eu.
denced by the sale, az the highest price yet paid
tins year OF a round lot oftastile ore, q blue,
granular henatite. mllrd on the Menominee
| range by tho oregon Mining Company, This ore
Analysis at 80 ban, II guaranteed 0.OOS In
| phpsphorus, and holds bat 6.I5 OF moisture
| only 10000 tuuf of this one has been got out
/ tbs year but next season the mlnF VIII make IN
the nelehbefhoaf OF $50 900 tons To observers
az the market II H. evident that before the nrst
shipments ct new ore may be expected next
spring there VIII be "a daarth OF raw material at
many Of the furnaces in this part oithe country
aud, deductinR from this fact the reasonable
CONCLUSIONS that may be drawn from Il, II be-
COMES evident not ouiy that what ore n sold
/ i9r p2 delivery viii command q hair advance
over this years ptiG.r, hut that thenn viii 10 a
matcrlslf adYnnce 10 The pflc4 81 biz fnota a.
well. IN me meantime. the furnace market No
1 mains ~ nui nnn nnrespnlsiy0 ne u has been
! lhe-l fhpe lnnnths. Tbs ynlnmp ~ trade hpina
] leisnred laraly hy "a orders R'nre I henrnace
Interests arr not anxious Ga te NJ their bnslllesA
Tar nlF lpugth az fhe pr,ceA Hoa goysrnlng The
market in manufactured products " AtrOnfer.
with AZ the Indications uf good business. hut
tie quotations. while lrmer. yet leave mirh 20
be desired "a tie way al improvement The car
works are understood A. brine about Go pare
| heavy Orders, snd the tuna ~ tie mark IL
slfoilaef tiftn \ iH- hrcH tqr some time, The
harlsHrc iride imports an exceedingly good bus
iness, TIE ilest ~ fact, Il has exlarienced In
yraPs, Thu iuhperA report mauy extensions IN
thelF euuu'Fy tfAp, Aad the rctail business u 81