The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1891-03-28

The Local SITUATION. -Although the
week has been a quiet one and without
anything decisive either as To sales or a
change I'm prices, IL is the opinion OF the
oldest and best posted men in the BUSH
ness that there ~ AN important change
impending Whatever the change may
be, II can only be for the better. SO that
nobody need ieel concerned about II.
just IN what way affairs are 60 be affect
eel. IL not quite clear. either; but the
reasoning Is all in favor of a break in the
coke situation. The ore interests must
necessarily remain dormant until the
furnaces start up again, and az that
event ~ predicnted upon the action al
the coke people, the only other avenue
open Tor speculation IL the coke question.
From recent adviccs OF unquestioned
authority IL may he set down as n Tact
that the employers are firmly resolved
to adhere to their demand for ten per
cent. reduction i'm wages, il. the lockout
should last year. They say that ifthey
expect to carry on a paying business In
the future they must make coke for the
furnace market Tor a dollar and hall d
ton. even though they could find some
custom now at the old price. 81 GO The
reason Is "A good one, too, II il is con-
sdered that the increased profits 81 such
0NtAOi AOUiN nf Alui III Hil DIODOlIfUil
with the tremendous falling off in the
consumption OF coke, SO that in the end
md ia the aggregate, the fixed charges of
the colSing plants could not be- met even
with the higher rate, while fair profit
remains at the 81 80 rate. II the produc-
ton is mp To the full capacity of the cox
ing plants. The ore situation rs the most
uncomfortable imaginable. Whatever
sales might be mnde-and there ARE some
very strong furnace concerns who would
not be averse 10 making favorable con-
tract-are subject Co future prices. that
is, the sales when made have string "a
them which may be pulled by the pur-
chaser at his convenience. Under the cii-
cumstances. the ore trade, generally, tx
keeping well out OF the market, and some
oil it's leading representatives do not
think that any considerable sales will be
recorded until we'll into June, or still
later. The vessel men have taken exact
ly the position outlined In our last re-
port and will favor n late opening Of
navigation, with the view OF making the
season short and lively one. The visi-
BILE supply Of pig iron in this vicinity is
running decidedly low, and but for the
activity of some Pittsburgh furnaces that
are still supplied with coke, there would
be great boom Tor southern iron, a de-
mand for which seems 60 have sprung up
among consumers who before the shut
down would never entertain the idea OF
using other than lake iron. still, the fur
nacemen have no fear from that competi-
ton, il they were only assured ofcheaper
coke, as above stated. Given dollar
and-n-halt coke, said one furnace man,
and with the new rates Of lake and rail
ireights, coupled with the reduced price
of ore and labor, this district eau beat
the world in the making Of the best iron
ever produced" Manufactured iron, de-
spite the lateness OF the season, has not,
as vet, recovered from its late slump, but
IL * thought that the approach offspring,
and the needs OF the building trades, will
soon bring about change for the better
in all these lines.