The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1891-04-11
THE WEEK IN IRON CIRCLES.
GENERAL FEATURES or TIE rRADE-InoN
OIiE-Pl0 IRON.

oHE-pIo IRON.
The Cleveland Iron Trade Reviews
resume OF the week In iron circles:
GENERAL FEATURES. same con-
ditions prevail in the general iron mar
ktt AZ have been described la recent re-
ports. Demand IL undcniably slow, and
the tone ~ the market rs dull but firm.
II j. 80 we'll recognized that prices are 80
close 60 cost of prOdnction ia alldistricts
that a further decline would again large
~ restrict output. Consumption, AL
though apparently reduced, j. still be-
lieycd to be in advance 81 production,
and stocks ARE declining. Under ordinary
conditions this would make "A nrn and
advancing market, but the withholding
Of orders by railroads for supplies OF all
kinds, and "A vague general apprehension
that important financial problems re-
main unsettled, all have the tendency 20
induce caution and conservatism in
every branch OF the iron trade This Is
believed Ia be healthier ia the long run
than "A continuance 81 ovcr-nctivity TO
be suddenly checked. Present indica-
tiOn- ARE that when the status Of new
crops has been pretty we'll established at
financial centers, the railroads viii again
be large buyers, and new life viii bv lu-
fused into the trade. For the next sixty
days 10 rs not thought that much change
will BE- seen ia either direction. The coke
strike will likely terminate soon, but the
blowing I'm Ol idle furnaces will depend
largely ON improved trade conditions.
In the Detroit market, very few trans
actions ~ any magnitude can bc noted,
except for round lots of nOrthcrn-nudc
coke irons, the delivery subject TO the
continuance Of the coke strike. We are
officially informed that this strike II
nearly, II not quite over, as some Oi the
works propose starting during the pres
ent week. and il is thought that the
strikers will gradually fall into line ON
some slight concessions being granted
them, and that the price OF coke will be- a
triile iers than at the commencement of
the strike. Lake Superior charcoal iron
does not change Ia price, but there have
been large dealings in the central and
eastern portion OF the country. contracts
having been made for summer delivery
via lake at present figures. We learn
that IL is expected that no less than five
or six Michigan furnaces will blow out
unless a material Improvement u seen IN
the market. This viii tend Go relieve the
balance OF the furnaces, and we think
that prices may be better later ia the
season. The Chicago market continues
quiet, business going being mostly coniin-
cd to ear lots. Consumption is running
light i'm nearly all kinds OF work, found
fIcs and machine shops reporting that "A
much smaller volume OF business exists
than during last year. Prices ON coke
brands remain stationary, and there H.
little desire ON the part of furnace com
pnnies or their agents 20 press sales.
Lake Superior charcoal irons continue
at unchanged figures and in but very
small demand. The outlook, both for
prices and consumption Of pig metal, is
full OF uncertainty; 10 IN generally CON
cedcd that much smaller volume of
business will be done this year than last.
During the week past the Louisville mar
ket has shown "a trille more firinness.
with some inquiries and n few sales, rang
ing from car loads to 500 tons. Three
hundred tons No. 2 soft, sold IN Louis
Vile this week, by an outside representa-
tive, as low ~ $1,000, we are advised
poorer quality 81 iron liz necessarily sold
under good brands No. foundry sold
Tor S1i 90, notified SlO.T5, open silver
grey $1,000, all cash, furnace, as basis
hut ~ whole, the iron activity does
not predominant. IA has been expected.
There has been practically no change In
the st. Louis market since last week
purchases aud inquiries continuing at
about the same scale ut unchanged
figures Most of the foundries are run
ming, but report business much lighter
than this time last year. The railroads
are now placing some orders for cars.
and 10 IN thought this will improve the
situation In the territory tributary To
st. Louis. The volume of business at
Buffalo during the past week has besn
light and general of the hand-to-mouth
The lew exceptions of con.
fs. dalt
the future have not been for large
amounts. The stock in buyers hands
seems small, II we can Judge by the larger
proportion OF orders which are telegraph
ed. requesting quick shipment. Prices
remain about the same. The supply oil
pig iron il not as liberal az IL was, but
appears abundantly equal TO thecurrent
demand.
Tux Local SITUATION. reports
from the coke district are anything but
encouraging M TO the early resumption
OF work. The question is not whether or
not the men win go back at the figure
offered them, but rather when they will
return to work and, further, when they
will zee their own gain in that oil their
On the other hand, some OF
the coke interests, by what may be de-
scribed a. species OF bad faith, are en-
the hands to remain firm in
their unwse stand by quoting the prob
able price OF coke, after the strike shall
be settled, Mt ST 10, when the men had
been brought To believe that tllcN roduc-
tion I'm wages was made necessary by the
demand 81 tho furnaces for Sl.5O coke.
Al any rate, IL ~ rumored now that
81. rs il Co bc the price Of coke, and, az
least, one coke producer is ON record as
saying that 50 IL little enough Tor his
product. The concession, he Says. should
be made by the railroads rather than by
the coke interests, aud that even II the
rate, after starting up, Is $l.75, the d<
mand for the material that is likely TO
epring up among furnacemen h sure To