The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1891-12-19
FROM THE MARKETS.
General Features OF the Iron Business-lron Ofe
Movements-Pig Iron.
III. IL Lion. n,,...ln D.,.in, m

The Cleveland Iron Trade Reviews re-
sumo OF the week in iron circles:
So q,netiy that attention has scarcely been
drawn 20 the fact. the railroads have been giving
out their orders until. within the past two weeks.
contracts for UPWARDS of 200 600 tons of sterl
rails aud $4,000 freight cars have been entered
into This. with the distinctly better tone IN The
money market. noted by all the leading fnanciih
papers. brings the country down TO tlc end OF
The year with every prospect OF a change for the
better soon after the opening OF the lew year
Thus. our Detroit correspondent states, there
has been decidedly increased business IN thr
general iron trade, during the past week, but No.
change whatever IN prices. The Tact that wide,
spread car famine exists has Impressed itself ul'
on buyers, who ARE strainng IN every possible
way 90 hasten deliveries OF pig iron. aud thl,
particularly from the south, where the railroads.
seem ia have even tower ears Tor seryice Than the
north. While number Of large orders for ears
have been placed, 10 VIII be Impossible Tor tie
comparatively small production 81 the next
thirty or sixty days ia have any great effect Ia
relieving the situation. The car orders Partcu,
lnrly have caused cOrreSpOndiigly Increased
purchasing Of material for the early mouths ~
isxt year largo blocks OF Lake superior char.
coal iron have been bought, and lumber ~
good sized deals are IN prospect, and January
lat should show "A decided decrease IN stocks on
hand uusold. Southern foundry and forge have
also hceu freely bought. aud nothing but the
enormous stocks on hand aud the present. lane
rate OF production could check ON advance lll
prices. The general situation II certainly Wncll
mnrp encouraging. aud even The long delayed al
81.
market has shown but little NJ interest duruu
the past week. the bulk al business going has
been for small lots Tor short deliveries, win the
exception of here mud there good-sizcd sale.
This l. in accordance with the usual conditions
AT this season of the year. and N not surprising.
As 20 price both northern aud southern iurnastS
show disposition 90 make concessions Tor de-
sirablc business; this II brought about by the
accommodating stocks IN both districts. Business
ii all metal lines continues ON a healthy basis
the trade ia general Il IN Tar better condition
a laN Ika
turers and consumers have retrenched with the
rusllt thht to-day her liabilities age 0nuph small
ef than Usual, irid they iirt III good cpndtipp 70
handle large expansion ofbnsihcss wheh the time
comes Tue cincinnati market ~ THE beginning
of the week did not look very encouraging. but
during the latter part considerable selling was
done. ana some oi tne sAisllIs npicatVls hlv
rather more cheerful Thef y no improvement
lf prizes. hut sGNafal large TRANSACTIONS that
hhye beeh closed, shoY ihAtbuyefs Are rshdyt 70
nnticpate their wants when concessions are ut
Icr.d BUYERS oi steel blets have been trying
the market, aud ~ some cases have succeeded ~
hndnu selleFs ioPkix mpDths' deliveries, az pns
enc quotations bnt m0st eo'lsNmers n'Inse 70
Is simply a review Of the preceding week. Trad.
Ing IL light and runs mostly ~ small. quantities
WITH az necasona order tor ~ much az 600 on
900 tons. Thcre are reports OF slight weak.
ening on the part of large producers, who display
considerable anxiety for orders for deliveries Tar
into the future, aud IN some lnstennea ppneez
s RRssssa n WIZ s aFh foGfE' M
rfItire 81 Next ysaf, bat these may be regarded
SUBSCRIPTIONS and not the rule now. There are
occasional requests on the part Of some OF the
trade 10 hold up on deliveries. but In most cases
the southern furnaces ind II exceedingly difficult
g kssR ~ sAIpmgILs hg TfqQP n lps EI
s i,o ~" sbab e dpSst efforts are being msds %
relieve this state % affairs. and according TO
promise the situation WIN be greatly improved
.hs agst q ne gsgI s~s, Jew esP bb ssss
equally divided botWoenimmpdaie shipment aud
distribution overthe first ak months Of 1907
but is more hopeful than during the past few
weeks The market M ST. Louis cannot reason
ably he considered dull, az tho same time there u
Ses lEs "'FRR @ qoREgPs bea, s's asgpert "A
/ their eonfractr for SEVERAL mohths 70 come but
more business from the railroads u Ia Sight, and
heavy buying will naturally follow. The demand
Tor southern rons IN small lots Is good. Anum.
bss N saes n .ase SUPERIOR lron gIs reP99,lIs.d
s q % ose %s ss a.rs Se 'eaaoes
Is encouraging and the volume Of business makes
| pp The deficiency.
'1far isit4L s4laHes ..Nnw that lhp shInples
Srs tx tle oFs4' WIS az Sts VI tEt ' 2 ySt s'
lnta late spring ofihe ais aud oIishai NIL
ksou a ths y % nna ss "a . , f
IL hardly more than 10000 or Oo.OOO tons lift
i uueod, distributed through the entire chain 81
Lake Erie ports A portion oi this n hlgh grad,
4 ore, held ~ figure which the iurnacemen DO not
sre their way clear 90 give. and partly consists
Of small and broken lots. unstable for that rea
son 20 that practically aud ~ far ~ the pnr
poser ~ fra,G nrs panfcyNeh the entire prOduel
| Ia isgi may he VALID 10 ~ sold
iRoN Onr The ORE interests are not eoing e.
i take any hasty step this winter, aud from NJ
appearances there i no mosemenl on loo, %
ierrense This years product nnlcss there should
~ 40 onliy denAilh ~ rllpn Atgona ursency "a,
nlly 20 warlnnt a material widening at the orr
market The producers mean 10 be conserva
tive both ~ q pr.cfs and sR'es, and while. 81
course. they mist necessarily take ilto account
the condition Of the trade az large as well n
I their forwarding facilities they viii ash iny hal
4 dollar and possibly more, on TOP OF vl
pr,coe
] nm laos u The ia Iron buSlnfas 4 n Thor
piialiY dfinOgallftd that rQhie IA Vie lnrnAcfmeI
4 take comfort irnln the pnuciN ~ the market "
\ that a. they reason. "a cannot 49, nnN worse
uhnruhs recent Developments have shown that
when the bottom drops out ~ the MARKET What
nttle n ieft ~ the market D. likely 20 90 the way
~ the bottom The Iurnace trade ~ really IN nt
position 90 flnd Isult With the consumers when
BY holding OF the consumer. - has been The
ease an the winter. IN eunhIed continually u
cheaper his purchases Some infnace< are run
ming along 80 ~ 70 raze su'i'cient cash to