The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1891-11-07

,Is ~ ,spor<.6 y o1o15 y NJ o1o y
| ionndry' nsxf yssr's DELIVERY ~ a es.n =
Is" demand ior Near 6y dcyvrr~ q rsthsr sIsct.
aud some accumulation ~ stocks = no<r'.'
Makers ARE not disposed 10 enter into contracts
fvity continues Ia the Chicago market, though
most of the lnpte deals vhsh have been pending
have been closed and pn~inrss now going Is now
mainly for lots oi small siA. The firmne~S pre-
xinuSy reported on the part of southern coke
furnaces confines with the result that tf.,n>ac.
tions N ihs sllrectIon ARE beng materially cut
down Therr has btrn practically no chaiip ~
prices at uhich Northern coke irons arr selling
and coSunlerS n the Chicago district are unNill.
Inc 60 pay any premium ~ order % ,ire coke
metal made ia the rOnfh. They have discovered
during the "a 4 few YEARS that they cin get along
without southern irons whenever ttsrS~itry.
Northern cake irons rotiinne 10 be sold Freely w
la nee aud small lotsfor lotg scattered deliveries
running IN maisy through the entire year 81
1892. These deliveries being granted freely With
out any adyane in price. Lake Superior cnar.
Goals remain Inactive, various IMPORTS az cut
prizes continue 10 come Ia. some companies
are holding for Sls 20 Sl'i and pettiiU ". on
small lots the open market ltiig sli az shiea.
20, The Louisville market remains quiet. with
Few sales. Some fnrilnss's nre willing 20 sell Tor
delivery running 10 July. "a bnSis ~ Sin.25 for
grey iorgc AZ hrlnfe. and some pnrchh.rs nave
bern insssle upon this basis. There IL dinemnre
ln the value Of some grtsies, especially noticeable
la No ! foundry---Onr furnafe holdingat 81 = 10,
Others selling freely al = 40 ears furnace. Al
Gates an Improvement; nor can the pic iron bus
uirs- be- considered an exception. Tor there ARE
certainty better transactions being made regard
lnp botii quantity and delivery than existed the
first part Oi the month. that ~. the extended de-
livrrles which were granted then would have 20
be- f,,,id for now While Igrlcrs a. "A rule are the
sitlnr. the inclination 10 advaIte ana hold flrla
ON the sellers part L. more general aud fsrfewer
weak spots are 40 present discernahle. Buying
AT Bniialo l. decidedly Of the hand to mouth va
rlety. Sales indicate a tribe more activity, but
TIN probabilities are that IL IL only spasm TO
be be quickly followed by another little reaction.
There IL rather more iirmnes- ln the tone Of the
ST Louis market so far ~ southern coke irons
are concerned Reported sales Of choice brands
OF grey forge ON basis OF $1,000 cash. Birin.ns
ham, Tor delivery beginning In January.
Tux Local slTuAnoN-Tho grain ore see-siw
has had another innnps this week. aud thegrun
shippers offer OF four cents from Duluth has not
been without effect upon the ore trade. Thvro
has been IN consequence a marked advance.
eighty five cents being the ESeanaba rate but
the demand Is comparatively light. both on ac.
count Ol the absence Of ore To come down. Hui
because ui the absence Of any such inquiry Tor
ore a. would warrant the producers TO sell. 10,
the nlce OF an advancing freight market. That
the ore season is approaching the end IL VVi.
dciiped. moreover. by the difference la the rfla
tive gram aud ore rates, -Four ceuts Tor grain
from Duluth equals ~ 80 for ore, but no Sici
money has either been offered or h likely 10 lac
offered this season. ON the other hand. u Ia
more than likely that the end OF the month WI
witness "a" retirement Tor the season apOrtl "a
Of the lake tonnage, estimated IN some quart, N
~ high ~ forty per cent. Certainly ali the
/ smaller boats VIII go out az commission At the
tnd Oi the mouth, aud ~ good many OF thelarper
az well. The October figures show decided hi
| ING of IN lake shipments Of ore over the CORE
/ spending month IN 1890, but even at this
duction the months shipments include about
~ 900 tons Of ore, which never could have come
down but for the weakness Ia lake freights. shl'h
prevailed during almost the entire month. The
| seasons figures will, without doubt, rema "a
! we'll within the estimates heretofore published
but may, ON the other hand, show quite serio,i~
! lalling on. The pig iron market remains quiet
| duh aud firm. The furnaces keep on making
/ iron In desultory sort OF way. aud keep on sell
ing II as inst a. made at the market price. which
n has been said before, II the lowest seen for
many year This process IN some instance
where the furnaces are favored I'm the matter Of
| location means the getting Of a new dollar for
an old one, but In not "A lew eases there Ia an ne
ual losr Ia the production OF iron AZ the prvs mt
price. and yet the fixed charges aud the probub
! loss oi custom combine "a Keep the stacks ~
/ blast The furnacemen prefer 20 keep on selling
even M loss, II they must TO thraccumulntiun
/ 81 stocks which would create tendency 10
dump the market IA the event uf AN advait q.
! II goes without Saying that the situation il one
/ that pleascs the consumers of pig iron immense
/ iy hecnuSe al manner oI manufactured pru
/ duets ARE comparatively hieh, much higher than
I the rnatiye p1co Oi the raw material aud ~
/ long ~ they are able 70 buy all the spot j. J.
l they want az the present prices, they VII harily
make AN effort 10 advance the price hy MAX M
contracts ior iron To be delivered four or six
( months hence, when by 20 doing they would nos
! uHlY have a. pay moret hut would place them.
SELVES iu the position Oi having 60 bid ngiinei
rach other. That the iuruacas well understand
the situation appears by their persistent reiusls
/ To sVll IRON for any longtime delivery ~ the
! market price This Is particularly true OF Bc.,
nter iron, which, while selling barely at cost Tor
/ the spot article II held very frny by the ma.
ers Tor 4ll futures some al the eastern mill men
/ are engaged M engineering "a speculative move.
mrut IN lssseincr iron, aud the producers do n II
heel la pulling the ciestuuts out ui the fire pr
/ their Ingenious vtistOmert Ia other RESPECTS. the
! iron market X without any leading features
I The ten per cent. advance his been acceded ia
by an The furnaces in the two valleys. thus add.
\ ing 10 the cost OF producing pig iron without AZ
/ Nom If return in any way,