The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1891-08-22

softeners and charcoals continue TO drag and
accumulate. AS do also the lower grades OF
ns xess ,fp h :, Sabor nres ihs wear
and many OF them are willing 90 contract their
entire product at about the present range 81
II n evident thar \ showIns Of increased con-
sumption or decreased production VIII be
necessary TO rouse them from the state of
lefhargy into which they have fallen. Consumers
ARE wisely cooperating With furnaces u eetting
forward August and September deliveries 20
protect themselves against the shortage OF cars,
and tins IL decreasing stocks la the south TO
some extent. fOnndrymen. almost without
exception, reports their margin Of profits very
small, but settlements are made quite promptly,
aud there Il feeling OF confidence among the
trade. TRANSACTIONS AZ Chicago during the past
week Ia pig metals have been mainly confined TO
small quantities. though several sales ol south
ern coke iron are reported. ranging IN Size rom
500 tons up. Carload orders are numerous.
as With here aud there exceptions, CONSUMERS
are mainly covered Tor their requirements Tor
three or iour mouths ahead and ~ many ca ses
for entire balance Of the year. Lake superior
charcoals continue inactive With various signs
OF weakness As 20 prize The ear famine hereto
lore predicted Is beginning 70 prevail all through
the south. The demand Tor rolling stock ~
which 20 move crops, n exceedingly heavy and
Tor the next lew mouths IL will bc Impossible for
pig iron furnaces 10 ship with any degree Of
prompthess. The general impression at Louis
Vile and through the south IL that there viii be
considerable activity ia ali branches OF the iron
business during the ftll and winter, though AZ
the moment few consumers ofpg seem inclined
TO take advantage OF the prevailing low prices
10 protect themselves on contracts anticipated
"A month or SO hence and the consequence is "a
general hand-to.mouth business. buyers taking
only what pig metal they arc Obliged TO have
for contracts already In hand. There Is really
no IN quotations which ARE uomlnally on basis
Of $40 20 STOPS for grey forge, Birmingham.
though offers on less basis Tor some lots are
reported. Midsummer dizziness. added To the
fact that the reunion % the Grand Army WAS
held ia Detroit last week, absolutely prevented
anything IA the way of business there. locally;
aud were u not for the demand which came from
the east for Lake Superior charcoal iron, there
would have been positive dearth OF traiisac-
lions. 10 II pleasing 70 note that this demand
for Lake Superior charcoal keeps mp without
cessation, and 10 shows but slight accumulation
OF stocks az the various furnaces In this region.
Otherwise the market dull. Business during
the past week at -. Louis. has been quite
active several fair sized lots 81 coke and char
coal irons having been placed. However, the
prices at which sales were made were somewhat
low. The teeiiug among consumers OF pig iron at
Buffalo Is better, More work + Ia sight than
for many weeks, pr even months tight money
aud excessive production are the only draw
backs. Even with these dragS 20 general activity
the indications are strongly ia favor Of August,
1891, tar surprising the same month oil last
year in volume of business 10 II difficult 70
hnd any signs of advancing prices, many pre-
dieting long continuation OF the present market,
which has not changed since our last week )
report.
fHE LocAL SITUATION. The situation In the
iron and PIG iron lines rs one OF absolute stagnn.
ton, az least as faras new business isconcerned.