The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1891-10-03

General Fcatare1 Of the Iron Buslaess-Ifoa Orc
Movement Pig Iron.

Movement PIC Iron.
The Cleveland Iron Trade Reviews ~
sIinie ol the week IA iron circles.
As the basis al The general Iron market the
pix Irou situation Just at pre~'nl shows very In.
terrrting features careful summary ~ the
situation shows tfnt the production sf pig met
al y now inur'r than 10 has heru al ANY ii,n,.
since August. 1856: conservative partl,s reason
that this alone y enough go hold the general
market steady. Consumption u increasing aud
~ much heavier than thfcc or four mouths ago /;
IL 4 q question, huMeyer whether IL H. equal to
that OF hast year az tlsls time The out look
points 10 ~ irH market during the baance az
the year with the same iucfnntion m pricsss aud
general betterIncnt la all lines 81 raw aud man
umctIrd IRON and steel for neat year. The mar
ket for southern irons ~ act I've without any AL
vance. raj buying IN Rnme sect Ions ~ the ,-nu
try Il heavy, this rSpectlly applying NJ tlle-wa.
ter Ia thu west coiisunerr air yet punhasiie
but moderate qualities. neither they nor pro
duccrS are ANXIOUS Tor much business RUNNING
iillO next year. SOME "a the largest sonf hrru
companies have booked AL they care Co at pres
ent prices, and VIII sell 10 more Tor thirty days
| az least, unless al an advnrec of thirty live or
llfi y cents per ton other companies again arr.
taking business AZ the same rates that have l,,n
current Tor a month past, hut refuse Co make
concessions. and are unwilling to scatter deliver
ies far ahead. The tonnage 81 orders flac..d al
| 5000 tons IN southern iron alone. No conccs
4 sionr were made on any at this, aud some ul a
| was known 90 have gone az slight advance
| The hulk 81 IL WAS confined to No. 3 foundry
| grey forge md No. -nit grades. Actual sales
| oi sze Ia Chicago territory during the past week
have been light though small orders have been
Numerous Inquiries from colfuncrs are com
ing IN more FREELY. number oi hess hcingfrum
large buyers and for round lots: ia mos, eases
| long scattered deliveries nrc noted Indicating
that leading BUYERS consider that the pr.se,,f NJ
| "A good time IN which Ia cover their requirements
| Tor six or ten mouths ahead provided they can
do 80 ~ present prices From the furga,e
standpoint The market Is ~ a different condition
/ from the view held by many 81 tho leading bllv-
era. For some tinie mnny 81 the inr,itce- IN tho
n4glon oi Chicago have BEEN indispused To take
| cont rirtS running much beyond IAillary lst
aud with some exceptions thus state a. Things
Atil continues. the smaller companies IN many
cases limiting sales To uilc ar Two monthAahead
/ believing that u mntetiai change of prize win
come AMI wanting the benefit. The larger aud
more conservative fntigtceS ct the south nre M
/ ce?ting contracts running through the FIRST lew
months OF Nv1, aud ARE less eN prctant an, the
matter uf aNnllre la the market than their
smaller nerhburn, We arr pleased to rcport for
the Detroit market decidedly improved eondi.
ton. Ia nearly all branches uf the Iron trade
/ Prc~ cannot yet be reported 90 hnVea, yatted
but there ~ a marked iirniils,es which IN ail the
more noticeable alter the long period OF wenk
aud lowering prices Ia volume, the general
! trl,do ia pix iro.i rs much larger many good.
sized orders having been placed for prnmpf and
near future delivery - iull ilanrcs. Railroad
material has been freely bought. AMI much great
or activity ~ seen IA this me. Lake Superior
charcoal has bcrii sought chiefly by cnr whet
makers, aud geeFai trades Of round lots have
been contaminated. anu several Inquiries atil
remain uislltiSted which should be cloaed tlu,,
ing the coming wrek "A Louisville hair Volume
OF business H. reported for the week under law
| Inquiries have been good, aud several ,lpnl. Tor
round quantities arc pending. Nus 2 and :
foundry coke IRONS have becu The grabs moo. A.,
sought for while IN the pe 81 charcoal thee has
been a fair request Nnd good sales arr recorded
There are many Indications Of future nrf ixltv 80
| lunalo. hut dullncss has been the most nrnmi
ilcut feature In that market for the wseL ,l'I.
stove aud heater ioundries, almost without az
ccption. nc busy. The placing Of several iars,
orders Tor ears by dillvWnt railroads has made
Tine ST. Iuuln market quite active during The
pact week. Car wheel ita well nS roke irons hnVc
be,n offered lnr lcfN han cost uf Production and
from the present Indication tie nrnaesn viii
soon advance tholr pritss@ ~ some s,l then, IA, ~
round lots sold alt,itd Tor several nonfhss asli,
cry. Oid Wheels. winch have been "A drug on the
market, are nov being booked Tor by consumers
Al the general features oi the gitntt ioucnut nun
very hopeful What change therss has hcnu has
been in the way OF Improvement The warm
weather has helped TO complete the great com
crop 81 the north and west. Money IN easier
than u has yet been, aud thcm Is a fnir ,iinpo.,
ton on the part ~ capital 10 engage Ia new en-.
terpciscs Some troubles ~ Pittsburgh iusulv-
ing old concerns ui high standing have opernted
NJ a slight check on the general improving ten.
dency.
TnE local SITUATION That an thccondltions
~ the market incline IN pnclrely the same dr,c.
tlon Indicated in these columns IN evidenced nv
the pronounced demand. ON the part ~ cunsu,,.
srs, Tor iron ore The Inquiry. II ~ ir,n Is large
~ confined 10 non licSScncf grades hut the fact
That hall million tons fnlalit easily be pla..d
today y evidence that the reduction in this
years output has had beneficial effect. and
that lhc slump ~ this year. citiecd by the over
production oi 800, Is likely Ia be offset nest
season by ~ sharp nfivnn'r. II n but f,,r ts
state that the people who nrc not IN the marker
~ orc buyers want 90 Ss~nr What one ther. N
~ The ruling market rate, whirh ~ only "A t,ln.
higher than " was IA the early part Of "a. se,
son. the nrf,t~e barely covering tho advaua. h,
lake fferit. the iron on Ifoeinorr u sesna
having nndc 50 little fusA over the ,,o,,n.ltor
they cot thr year, as "a induce tie bs.iei thai
the operation BiDht be- continued nei,ulfriv
The position oi the ore trade. however differs
radically NJ this time from the conditions that
prevailed early this rprnr. The ll.thorn ol IN.
has given way 10 nctitc ucmunl. nud the prt.
dnecrs nlv " no hurry to eiisre pound ~ their
nlIt pat ~ next s(utonN unfw except al 1ueh
rates ~ shnll not only ln'lnsle ample sncnsitv
against any fancy weasel mites. but ret.a,hle
profit ~ we'll. The chanfcs are very sotl that
the rr,c,e 90 ~ on WIN 10 thsas "a the DDmar
Net. aud The demand Tor hp pissi,il,.r pr,blnc
ton "a already r,n,d ellonah a. warrant tie or..
men 10 take flHff time 10 consutiig what Il beet
20 - 1hs rig iron market. although still dull |
hpth ~ to work nnl quotations. ~ il trine Ann
rr although u is dlniciilt 20 say Ia what .l.x,,',
this iepl'nr ~ likely 90 ltlisst The huknc>s 1,,f
the prlsr vns nj Che huttou noieh has l.s~,n
sn"w ~. ts "any w"n'ss an noh.y .crs'
~ iondiy hnp,.i Tor never came. nltIn,,ai. fhnr.
T. no npprNnbir Isn rsn<e in stocks aud siea,,ltr
tho steady consnmpf'ono 81 what We n turned
icrinl say that their orders do not warrant
tirir placing my heavy orders Tor iuuc time a.
livery hut ~ en- u they has, rltnty ~ work. they
~ sns ',ns~s Tor TIA, 'ia~ * o',s, v .s y,
they may obtain rlcnsiiuI supply nt.4rtt H.
livcri<s Tor The iowcat marked Iflr ,~,tn n ,rrr
IN ' .s. ", s =. , g nn}s s, MINI; .e, hca!.
81 u ether r~p<t- their n l,ttie sfnir.. oil
y sxv~ sx' ~: ~, ear vhs~l. NV duh AND moi
S.,Ssssss charters so''s ~ ;s g. ..S S'{ , ~,
a1vAuN n dqsnuutIcj BY tn< brokern