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

oRE-PI0 NON.
GENERAL FEAruREa.-Ths important
news Of the week ~ the annOuncemcslt
that the Pittsburgh manufacturers have
signed the new iron scale. and theequaIly
important fnct that the Shenang0 and
Mshoning Valleys, as well az local manu-
facturers with one exception), have
refused to do sd. Just now the situation
10 n tribe complicated, but the next "
al the question. The main point al in
terest to all branches ~ the trade IL
whether consumption IN actually on the
increase. This point IL very hard to
determine. for buying does not neces-
sarily tell the story as Ia melting. In
some conditions of trade fonndries and
mills empty their yards in others, they
carry full stocks. The best judgment ~
travelling men and other observers IL
TINT consumption IL again on the in
crensc. The Mnhoning and Shenanago
Valley furnaces start on with 80 many
untitled orders or special contracts ON
their books, thar they are not ielt much
yet in competition for new business. In
some cases they have been unable to till
single small orders at market prices Tor
immediate delivery. Later, their com
petition. il il expected. will widen out
u become more pronounced. In the
way al actual sales at CINCINNATI. the
largest IN 10000 tons tn n new southern
pipe works, said to ~ at the lowest
prices before made for equal grades.
Some good-sized orders for car wheel
grades ARE reported quite a long run of
modrrate-sized contracts Tor southern
coke irons for deliveries through the year,
and the usual range for small orders for
the Ohio softeners, lake ore coke irons,
etc. In money circles. mild stringeney
continues ~ most western and southern
centers. This IL relieved tn "A great ex-
tent by the conviction on all hands that
the condition al things IL essentially
sound that credits are restricted and
scrutinized To n degree that IL wholesome
Mt least, and that when the biz crops
move, money win again bee in better sup
ply, and all avenues Of trade livened up.
Buying mt Louisville, for the past week
has witnessed some very sharp compe-
| titions, resulting in some concessions
being made by southern furnaces with
large output. who appear not only TO
have made low figures. hut long deliveries
as well. Trading has been confined
mainly "a coke irons, but some round
sales az charcoal metal have been made
Tor northern shipment. Consumption
appears Ia he steadily growing, while IN
the other hmnd production il also in
creaging. Stove manufacturers complain
OF dull times and slow sales, but the
general jobbing ioundries are getting
more work. The past week mt Detroit
has been "a decidedly lively one. in the
matter of large, or comparatively large,
sales. This particularly refers to the
movement ~ Luke Superior charcoal
pig iron, a number 81 contracts aggregat-
ing several thousand ons having been
placed In the eastern and central mar
kcts. distributed about evenly between
the mAlleable and car wheel mHnuiact-
urprs. June, this year, M il did last
year. will round up the largest tOnnnge
sold by a broad margin OF any month of
1891, for Lake Superior charcoal pig.
Prices varied but slightly from those
ruling for the pnst six weeks. III any
thing, u rather stronger market was
seen by tho fewer concessions made
buyers who wanted longer deliveries
than they obtained in most cases.
Nortbern-made coke irons are appar-
emily intent upon regaining both the
trade aud position which they occupied
before they voluntarily shut down in the
Mahoning and %Shenango Valleys, and
makers have taken some considerable
orders nc ruling figures, extending de-
~liveries over the balance OF the year. No
transactions were reported IN southern
cokes, but the regular steady trade,
which they have so long held, was SON
tinucd at the ruling low figures. however.
Increasing dizziness chnrncterizes the
Chicago market. though there have been
some sales made 81 lots 81 500 tons in
size. The amount 81 buying, however, IL
for the most part confined to small lots.
Lake Superior charcoals remain un.
changed leading brands are being held
at SIS. Southern coke brands remain
about the same ns ~ week ago The
business of the past week at Buffalo only
strengthens the belief that there IL SUI
iicient life left IN the market TO continue
10 absorb the production Of the summer.
Should this he the case, there can be
little doubt 81 a fall market, which will
show firm or advancing prices.
TIE Local SIrUAroS.-The signs 81
the times seem 90 have been correctly
interpreted by those qualified To speak
for the iron ore and pigiron markets, FOR
the past week has brought with 10 n
welcome change from the published
reports Of "a good many months. in the
shape az nm active market, and consider
ably stimulated quotations-the out
growth OF conditions that ARE perfectly
healthy, and which rest upon mo- founda-
ton 81 speculative movement. With
the comparatively heavy snles az ore the
producers have begun to husband the
remainder al their probable output, with
the immediate result that Bessemer ore
IL getting to be- decidedly scarce, at least
mt the price offered for IL, while non
B~cssetners have advanced twenty-five
cents a ton. The primary cause ~ the
advance IL the rise Of lake ireights, which.
while not yet az large ~ the increase in
the prices Of ore. bids fair soon To dis
lance them so IL comes that some ore
may without doubt he had at the old
price at the mines. the sales agents pre-
fcrring 10 let the direct purchasers take
the chances Of further and more impor-
tant advances in lake freights. As "A