The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1891-05-30

tell. Figuring upon present cash basis.
the terms 81 settlement having been So
widely different. hut IL Is credibly report
eel that figures ARE IN advance al the low
eSt ones In the Chicago market lar this
grnde of metal. The selling seems a. be
confined TO two or three furnaces, which
on account al a large accumulation 81
metal, seems To have been forced into the
market. They have, to certain extent,
set the pace ~ the eastern markets lit
tie less than WIS reported a week ago,
hut at the same time iavofiie brandsar
bringing from nifty cents Ia 81 90 per ton
more for special orders. Altogether pro-
bnhly between 2O.OOO Ia 10000 tons
were placed in Detroit during the last
week al Lake Superior charcoal iron,
which would make il the banner week,
ia the history ~ the trade this year
For coke iron, in the Detroit market,
transactions have been small in volume
at ruling figures. southern furnaces are
lighting shy at long deliveries, while
northern furnaces except those situated
Ia Center'l Ohio, are refusing orders until
the coke question Is settled and the re-
durtiDn ia railroad rates llaS been fully
determined upon. Heavy sales of Lake
Superior charcoal iron are also reported
at Chicago. a large part OF the seasons
buying la this line ON the part of NAL
lpnbe car wheel and agriculture concerns
hus now been done, and In consequence
81 the large sales made most Of the Inr-
naces milking metal of this class are now
occupying "A more independent position
as to price and long deliveries. md sew
eral companies have advanced price fifty
cents per ton. On coke irons there has
been heavy buying, large number OF
contracts having been placed FOR long de-
liveries. many OF them running into next
year. Thegcneralfeelingi~ ganinggronnd
that the worst part of the imTkefs has
hcrn passed, and that more activity and
better price will prevail during the re-
naming portion of the year. AtLouis-
willie the demand for iron continues lair
ON the part Of buyers generally. A few
purchases for large amounts have bcrn
made 10y those believing that the summer
and fall would show much business, aud
that present prices were low enough to
make heavy purchases. Some sales III
Birmingham iron on basis al SlO.2J for
grey forge Tor long deliveries have been
consummated, and one of the larger fur
naces has placed 10000 TONS during the
rirst ten days OF the month, aud are
disposed TO ask $lO.5O Tor grey forge
from now ON. There have been some
strong Indications oiinccasingcons
ton at Buffalo in the past week. More
inquiry Il noticed than for several
months past, but as vet this influence
has not been sufficiently intense TO adj
vance prices. Shipments have included
northern and southern brands, also Ohio
silveries and Lake Superior charcoal
iron. There has been considerably more
inquiry FOR iron at ST. Louis during the
past week, than for some time. The car
works i'm the vicinity have been making
some purchases and are still inquiringfor
prices on round lots ordelyeres running
through the year.
The Local. SuUATioN--The reports oi
ore shipped from Lake Superiorcountry,
short as the season has been thus lar,
indicate the reductions To be expected
this year, both in the mining operations,