The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1891-07-04

causing alarm or great Inconvenience.
The country banks are two months
ahead Of time in their demands upon the
money centors. The inference IL TINT
when the crops hayeto be moved, the
demand viii III Less than normal. Money
rates are sitter. New enterprises de-
pending upon financing bonds aud stocks.
make no progress. As TO crops, the out
look continues good. The weather of
the past week has, la most sections 81
the country, been just rightfor the rapid
growth Of corn. hay and minor crops
Wheat harvest IL m progress IN the
southern and southwestern range oil ter
ritory, and a large yield Is assured. Cot.
ton has gained wonderfully ~ condition
since June l.. Railroads. aienot expected
to do anything Ia the purchase ~ mater
ial until the July interest u paid. Then,
IL y believed. there will be a greatly inn
proved dem md from that source The
general fennnd j. undeniAbly better.
Iobbing fnundries aregettine work,
but complain of prices. Railroad and
pipe shops are rather busy. Kohl
ing mills AFRO expected 10 run hight IN
midsummer, hut they appear 10 he
doing - fair amount az work ior the sea-
son. The agricnlturAl implement shops
are making great machinery. AMI rum
ming NIGHT and daS % get ont work on
time. Tho volume al business NJ Detroit
the past week has been large, mud
especially has this been tine of Lake
Superior charcoal iron, hut prices hnve
not advanced. The feeling N quite gen
eral that business for the last hall year
will be much more active than for the
first hall. yet buyers seem 20 be able to
secure what they need MT the present
figures. While this IL true at the present
time, vet an advance H. liable To take
place without any warning and when II
IN least expected. AZ Chicago " n noted
that the usual midsummer dullnes Is be-
ginning, this period coming enrlier than
in past years ON account al the heavy
buying done ia the month Of Mny. There
IL a fair demand still, however. Tor
medium-sized lots. Prices remain prac-
tically unchanged. though ON southern
cokes somewhat lower figures and longer
deliveries are being made by the leading
companies. Lake Superior charcOnls
are held nc SIS. Chicago. for the best
known brands, hat il IL reported that
one or two az the smaller furnaces are
still cutting this price. Notwithstanding
the fact that more iron IL being produced
than n month ago, and eve with the
usunl summer inactivity at hand, prices
Mt Buffalo remain firm. There IL no APP
parent cessation In the general demand.
which continues inir, and indicates that
consumption IL at least not falling much
behind the increased production. The
tone OF the market. ns gathered from
both consumers and producers. IL CON
sentative hut hopeful. Sales at Louis
vile for the past week have been rather
light inquiries have u mostly Tor foun-
| dry nsaHaz F.paa 80 ,pItnb "A 80 ia apupf Sftn.
ply, and buyers have experienced diff
Guilty In plncing orders for No. ] foundry.
Most nnsume aro unwilling to antici-
pate their wants very FAR nhead, claiming
prospects for orders IN their line do not
~jnstifv IL, and while they recognize prices
are low, the continued closencss ~ the
money market makes them hesitate
about carrying much stock In nnticapa-
ton ~ future requirements. Al Phila-
delphia manufacturers are trying to
gnther mp July aud August business.
There IL not hall the amount of finished
iron In stores or at mills that there
usually is. The mill men have been net
ing very conservatively all spring. They
have not been piling mp IN enormous
amount 81 iron In anticipation 81 a sum
iner demand this restriction OF stocks is
not helping prices. however; all buyers
can bo promptly supplied with whatever
they want, but IL would take a very
little run "a bring about an exhaustion
81 stocks. The mill men are going TO
keep on this way during the summer, SO
IL Is said.
The Local SITUATION The season IL
progressing apace, but owing to n series
81 delays, In one way or another, little
IL known OF the results accomplished
thus far in the ore business. The out
put, IN 1890. was about nine million
tons, al which approximately two
millions and a hall was left at Lake Erie
docks ut the beginning OF this years
business. Since then the reports have
been 81 the mostconficting character, so
that without the individual aid OF the
ore men all that can bo said OF The bust
ness up Ca date must remain the merest
guess, both M to the amount of ore
actually sold. and as 90 the quantity TO
be mined this year, for 1891 delivery.
Some of the producers say that they
mean To- get out quite as much this year
M last, and that they have disposed ~
about threc-qunrters of this output
others contemplate the mining of only
hall Us much as they did last wear, and
report sales 81 one-half only ~ this re-
duccd quantity, and still Others prefer to
do little at this time, waiting n turn in
the market, and are holding off for better
prices, when they will determine which
policy to pursue. Even among we'll
posted men nm the business there IL the
greatest possible diversity 81 opinion
with regard Co the expected output for
the year. some inclining TO five million
tons, while Others exceed thnt estimate
by two million. IL may be said, how