The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1891-10-10

Ioov|u6 oE l,o1s lIsaly tlan or some sl1n6 peS1'
Ssassa 3 q, ios fo@ tSs lowest prss AZ a.
~ has charac>erIis the thicaso market duriiir
ps Closed an sosS northern Hs and 'sss hsys
coker y noticeable degree Of activity having ex-
listed ON the latter. Grades sold have been main
y Nos 2 and > foundry and grey iofre; prices
bccn considered ~ the bottom mnrket-more
than this some exceptionally long deliveries have
becn made. one sale 81 600 or 500 tons grey
ionr have been taken by prominent southern
furnace for deliveries running twelve mouths be-
ginning with October. and even this deal WAS put
through on the hari~ OF bottom figures. no ad-
vance Ia prize being secured even for the long.
scattered delivery Transactions on Lake SUI
periur charcoal have been light: some deals.
however. have been put through with ear wheel
manufacturers and ear builders prices made ON
these sales hav. been close Southern charcoal
n Ia better demand aud Inquiries ARE in for some
round lots Tor deliveries running well into next
year. Furnaces making metal on this class ARE.
however. conservative, and while willing 20 sell
NJ close prices for delivery running during the
next ninety days, are indsposed 10 book long.
running contracts unless al a fair price. The nc
tiyity noted IN onr last Detroit report has not
diminished during the week. and buyers have
shown willingness TO make ontracfs extend.
Ing as lar into next year IA they can at present
prices. However, when furiinces ask a premium
for deliveries beyond the first 81 the year they
decline To pay u. While some furnaces are book
inc orders for deliveries extending six to nins
months, Others Will not quote for delivery be-
yond the present year. More demand n being
made Tor strong Ohio irons than az any time
within the past year This may he particularly
accounted Tor by some furnaces whose irons "A re
well and layOrably known 10 the trade having
again announced their intentions Of entering the
list Of active competitors In this market Lake
Superior charcoal IN active and firm. southern
furnaces willing To contract Tor early part ~
next year have had no trouble To close several
large deals OHIO soft irons are Ia good demand
aud an advance OF twenty-five CENTS has been
made on a lew favorlte brands. Orders Tor iron
for delivery this year have been steady In the
Louisville market during the week and there has
been quiet buying la quantities Of FOO aud 900
tons. Ma increase IN price however. has taken
place, NJ the buying would not Justify IT, nor has
any anxiety been expressed by buyers that pur.
chases could not be made ON basis Of prices that
have existed Tor some time. Car wheel irons
have been quiet. and those sold have been at
pf'cos that arr regarded by many much below
cost. Railroad buying has not Increased To- any
| extent aud u y ielt that until "a strong move.
Ineit nom this source beRinH. prc,ss win drag
when one considers the large amount 81 charcoal
| iron Ia stock.
week u looked ns though there were "a change In
store for the pig iron market and the posSlbili.
| tles ARE not wholly excluded that such might be
| the case but for the present the excitement has
died away. and things are prac ticaily unchanged.
| Early this week reports were rtceived To the e.
| feet that the furnaces la the Mahoning and She.
mango valleys bad shut down. owing To the do.
mand ON the part of their employees Tor ~ ten per
cent. advance IN the price Of labor. A. the pres
emit price Of pix iron Il about the lowest ever
KNOWN BcSsclncr selling as low AZ SIi rs nj the
| furnace-such n demand at this time was equiv
| alent TO "a general shutdown. since II meant al
increase IN the cost oi production of fifteen ,snts
atom The general impression among To- Al fur
/ naccnen was that the report was founded on
Tact, but AT this writing IL n learned that the
only furnaces aifected are six stacks at sharpe
vile. having ~ total capacity -, say, ave thou
sand tons al metal "A week The demand n
seems. Is not general In tho valley, but IL a
nevertheless reported that II was granted ",
sharon, and some az the hlrnacemen aro some
what disturbed over the affair since II serves o.
iorcshadow similar events on larger scale
Vet they all agree that months -hnt.dowt,
would beneht the furnacc Intervals IN more ways
| than one aud help the market immensely
Lake frciRhts have taken u temporary tumble
owing Ia the customary accumulation In thic,
go and at tho head oi the lakes OF ORR carriers.
| looking Tor grain charters, Thus these two com.
moditles, ore and grain. continually play hide
aud seek with lake freifhts. When there Il ~ call
for grain boats. the Wild tonnage leavrs the or,
| trade. makes u rush for the grain bids aud
breaks the market. while the scarcity Of boats
sets Ia. aud back 40 the boats To the ore bust
hers. This week the plethora of grain boats has
depressed the rate, and Escanaba charters wev
plenty AT ninety five cents There " little doubt
however. that the market will recover, and a.,
closing charters will be decidedly higher, The
demand for non B'ssenier ore continues but the
producess ARE In no position Ia sell, tnr want al
curriers' as much as for any other reason
Moreover, the offers fup ARE no better n
price than the early shlcs 81 the season. the adj
vance barely covering the higher freghts 80 that
there II no inducement to sell at this time and
NJ the prices offered.