The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1891-12-05

General Features ofthe Iron Busiacss-~Iron Or
Movsmsnts-P Iron.

The Cleveland Iron Trade Reviews ne.
i sumo 81 tile week In iron circles
1 sweeping view ~ the IRON trnde throughout
the world reveals generaly unsatisfactory con.
dlfon at the present writing. summarized, the
reports from various countries are a. ioows;
In Great Brtnln he frett decline ~ Nport, sllr.
lng October. the decided fsll Ia the London metal
market the financial troubles IA tiermany. and.
! nnnlly. the continued deadlock ~ Srotch pig
| iron warrants. have AL combined 90 trprrEa the
iron market still more than AZ previous reports
| The Belgian iron market 4 still ~ q depressed
| condition. aud II j. very diicult 90 obtain or.
| ders without making concessions upon oiilcial
figures. The French markei 4 h ~ uncertain
state while Ia some districts there y rather a
weakening tendency. its fouc Ia Others = pretty
| firm. The German iron market CONTINUES very
quiet hfiSncss Ia AL branches being RESTRICTED.
| Prices have downward tendency, and the zen
eritldonc h one 81 depression. Ia American raw
material markets. east. west AMI south hycom.
! mon tonsel,I. sellers and buyers attention has
lseen turned more 60 old bu.ines> than 90 new
Nearly an the nrnate~ have lartr orders ON Their
| books. and la tho south there has been trolble
| on all hands ia grttna ears To forward the
freight Buyers seem re- think that the temper.
any iull h an Indication Of weakness oi the mar
kct. and that when buying u again resumed they
will be IN position To knock OF AOmeoi the al
viiirc that has been established la October. Oie
! southern furnufe company has failed. but lis
situation was exceptional la many nsspectr and
rtsnot le taken ns significant oi any Mrsikiits,s
I among Southern producers generally. The iaet
/ Is that most at the companies. through r'dd
economies, Increased output and imprnsedqnai'
ity az iron are actually STRENGTHENING tllrir posi-
| ton even during the present trying times our
| Detroit correspondent notes the fact that, while
the demand tor material does not seem ochange
TO any degree. neither does the hrmncss. aud
with the long. loo for Increase la the latter.
the constant additions % the stocks on hand NJ
! furnaces, and the comparatively light demands.
| make this delay srem certainly dangerous. That
! prices cannot he forced notch lower Il general
I IN conceded by both buyers aud sellers. but not
understanding this aud also a much easier money
market. that buyers do NOT make large ir
! chases and feel safe to anticipate their wgu'u-
| mcntS further ahead b. very noticeable. and not
| very comforting To the sellers Lake superior
charcoal nc the present time n absolutely stag
nnnt for orders of any magnitude. This Is ~
tributed. largely 10 the closing of lake navle B.
! tion. however aud kept for q very active mar
ket Ia years past y nothing more than cie
tition. rather decidedly emphasized. The siinn
ton in the Chicago district remains practically
unchanged since last report. There n the isiin
! run 81 carload orders. with few fOOtOn hos.
! What little activity II shown Is confined 20 coke
metal. Lake superior charcoal being In no grea,
demand. Prices remHin unchanged. The short
car supply In the sOuth CONTINUES To interfere
| with prompt shipments, furnaces ~ many cases
having orders nom thirty 20 sixty days oveftlue
! business ~ 81 LOUIS during the week has hecii
confined chiefly TO small orders for early dciiN-
cry, The Increased activity of several cnrworks
il considered "a favorable indication. and y -
hoped that the present quiet period will not De
long continued. Dizziness stu continues 10 be
the principal feature 81 the Buffalo market. ~
the year draws 20 a close, consumption gradn.h
ly decreases. With the present heavy produc'
ton January, 1892. win probably record tn
| heaviest stock Of pig iron on hand ever beio !.
known. Considering the outlook. prices are
fairly we'll maintained. bat round lot OF almost
nny iron for early delivery, could probably most
! bee purchased AZ AN exceedingly favorable figure
| for the buyer. In steel rails very little Is doing
nj present, but Il h estimated that IN the past
two weeks the western mills have closed for
about 10000 tons, winter and spring delivery,
the quantity stated not including the recent IN.
OOO.iou order given out by the Peiinsylvaii,
Railroad Company October deliveries looted
up of iron ore 100000 gross tons.
Tue Local SIrUATION.-'fhe season h so very
near its close that barring few odd carpoe-
from Escanaba. there's nothing more 10 dothen
90 prepare Tor the closing Oi accounts. The ore
producers, holding the market well IN hand, ngf
resting quietly. all the conditions at this time
being In their favor. The future Of this vessel
business " now nearly as secure. however jude
Ing from the activity displayed IN boat building
rherc are now IN process OF COn@t rnrtlua and
under contract for readiness az or near he Opel.
inc of navigation. fifteen big boats two OF the
designed 20 carry thirtyfour hundred g.. us~
tons In other words, an average ot tweity
trips will thus increase the lake lake tonnage by
some eight hundred thousand tons which must
be- met somewhere, by the vessels now IN com.
mission. The trend of the situation u altogeth.
or Ia the direction of reserving the big carriers,
from the start, for the ne 81 their owners who.
n most instances, nre either ore producers 81
sales agents. so that this combination IN bound,
IN time greatly reduce. i not altogether To wipe
ont Wild boats Moreover. the economy ofrui,-
ung bigger boats has become 50 apparent thai
the smaller vessels either going into the luul-
Der business, or viii be compelled "a lay Ofalto
Hriltf, hNNlliiH any huNhiNh w tue mhfkcttp 4
VIII enable them 10 20 IN for "A share OF the zen.
era business The ore business for the year has
been very good, all things considered. Besides
the seasons output oi more than SIX aud a hair
million tons. the market has consumed about
two million tops lett oVer nom last year, so
that the nrtllh consumption OF he raw mator,ai
excecdpd that OF last year. The reduced output ~
the season now about TO close has "A ssiStedl hi,
clearing 81 the docks and II the shipments ot the
furnaces n the interior keep up w. they are now
going on Spring will hud tho ore cks frcerfrc j,
: / hefDIr.
men have therefore. every reason 90 look for.
ward TO u very good business next year the
same cannot be said OF other branches of the
business. Pig iron seems TO he aH little IN Dc.
mand as AZ any time this fall, and The prices alv
simply SUICIDAL, HhpleYvl any sales, indeed, are
reported, Iossemer iron IN The lowest ON the
list M spite 81 the fact that tho railways hs.~
begun TO place heavy orders aud no one Ky Tvs
lust where this slump Il going TO stop sixty
vance hut even this temporary feeling ol lrn.
~ ~ has completely pctered out nnd no one
seems ~ have good ward tor pig iron. Yet the
stock5 arr not inereasing, most 81 tho product
made IN excess O old orders going IN small ouat,.
titles TO spot buyers who have either cunadence
enorgh 20 hold their purchases, aud who hny
with "A speculative end w Wow, pr else who cover
their actual wants n this way rather than give
q larry ORDER Tor future delivery which might
have a tendency TO drive mp the price Never
theess, the influence Of the lape railway ordev-,
must make itself felt sooner or later aud the
work necessary for the required eplacements IN
80 very large that the conditions al the iron
market dufing 80 ought TO be very much i'm.
as low ms ever and the demand. except Tor
smaller numbers OF black sheets, Is uext tunnth
Ing. Metals which have been lalrly strong dur.
ing the seasoh are showing decided weakness 81
direction while hardware Il very strong, with a
nOurishng business IN az the lines