The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1891-11-14

selected was southern mill ron and softencrr
for delivery during the next fx 10 eight months
az pri,es not higher thnn 5000, furnacc, Tor
No foundry. Among sou heui furnaces. one
has over 10000 tons % grey forse booked. ana
another has sold Ia two months time over To-.
600 tons These colfpanles II cnrs could he Oh.
tanned. would have very little iron 10 offer for
the coming year Grcy ioraa - especially scane
aud hard 10 obtain. No. ! loundr, u hcit,g held
aud sold, IA SOME INSTANCES. az si2 ~. furnace,
but sales have be,a made az Sl2. The position
amonR car wheel companies la the south b snch
that any hlrthcr heavy buying viii cause nn Ad-
vance. IL b IMPORTED that one ~ the lendngcar
wheel companies has sold 1000 tons ahead. AN
other 1000 tons, and that a meeting has heen
held and they have decided 10 ofiernO more iron.
One Of the iurimors OF the Clifton company was
burned DOM. 80 that they viii hardly make "a
much iron as was anticipated. A. Annlston, n.
ports Hre made that they sold nl. aud that
one 81 the furnaces viii soon GO ont Ofhlast. A.
the buying OF ear wheel iron has been largely
confined 60 ~. Louis aud one ear company al
Detroit pncing of further orders In the west
viii likely head To strong prices for car wheel
irons one sale east N reported al $40 90, hir-
mace ana small order taken upon the same
west. A moderate amount OF buying marks the
Chicago market. some deals of large size have
been vonsummated. hut small lots constitute
bulk of buElneSs gOiils Lake Suuerior churconl
lu for round lots. There D. uO improvement Ia
this direction Ina the way OF prizes, however Si7
an open figure with some reports Oi shading
on the part of the smaller furnaces. None Of the
radirg brands are obtanahlo for anything less
and iu two or three eases ; > II the limit CON
sumption goes ou al healthy rate. and business
n most lines continues good The business of
the week at Cincinnati has been OF fair volume
hat there has been no special activity. There
has been a limited inquiry Tor southern irons for
immediate aud nearby deliveries and with prices
for such. ruling considerably less than Tor De
hyere- the lint six months ~ next year. few
large anu several small sales have been made Tor
this YEAR deliveries. but the bulk of he trading
which amounts 10 "A fair average business Ihas
been Tor next years supplies Northern coke
Huta mot ifnftr ~ tttt
contrary. former prices could be shaded 70 buy
ers OF round lots. We hear of extremely low
prices being made ln the Wheeling district ON
valley irons, 50 low that Tor the present. south
trn irons are not in competition SOttenerS an,
futher Ia better demand at -. Louis. The stove
'Omndrics in this section arr having good bust
'~s, aud are busier than almost amy line al
.radc. The Buffalo market shows little life
AZ any time this year. Most furnaces seem
'susouahly well supplied with orders SO few
,uWrNer, arr Offering Tor Immediate aud even Tor
Intended delivery al reduced rates Prices con.
eguently continue 70 show some variation. Some
,s,cl headed business men believe that The steady
lYance IN prices so freely predicted "a lew weeks
90. and REALIZED in part 20 date, viii continue
alto next year aud that history viii repeat II
.t.f. the general industries ul the country de.
handing material IA excess al supply, ana usher
IA swelling tide that Viii carry values M 10
Ic high food OF - aud 81 onthe other hand.
.uIillA good business men express doubts ofHny
trther improvement being realized very soon.
e.. Local SITUATION. An the Indications point
speedy closing OF the marine season. most
make port along the lower lakes Although the
rain interest now 0ncr ttr employment to some
tie boats. tile opportunity comes too late for
uost men engaged m the lake trade, aud Ia con.
-slueuce the bulk oi the grain TO be Vet for
.utrled viii come by rail, ana 40 rates 81 much
ulct than lake transportation that they Will
ttt np quite q portion al ihe advance recorded
ONE time ago The ore men are resting on their
i,trs, az II were. They are Ia good position TO
.Nait events much better rs far than any
,ther industry conn 'uted with the iron business
fhr season closes with So marked "A falling oG In
he ore shipments that i Il quite cVdc'it that
nr visible supply viii De exhausted long before
hr opening Oi next years shipping seitaon
Whatever the price 81 pig iron, the producers OF
nr' viii he inStihed. next spring, iu asking an
livaucc over the price pitid this year, aud 10 The
course of probable events the advance viii ~,
rud without question, There il still "a little ore
icing sold here ana there, to til out mixtures
,nd nt IN advance which tairiy covers the higher
ne lreights. So, for Instance, i've thousand
OTIS ~ an ore that sold ~ ~ 80 otry this
umlner found n market TINS week az 80 80.
rhs railways arr shining one 60 the various
.arl.tcrS a. last aS received, owing 10 improve
neIt- in rail forwarding no less than 10 the
tliug on receipts, aud there can be little doubt
alai the docks, this fall Will hc ~craped clean as
iiry have been ia thf past ten years Producers
81 B,S~cmvr ore that has ionud a tidewntermAr
..t there two thrreA ears, WhnuOceau frsights
.ar,. high are somewhat disturbed over the H..
opening and successful working. ~ New Jersey,
li libWudoned mines The process l., of course,
llteuted, hut u IT. operation cuuld he extended
80 the Lake superior country, there would heun
al of valuable property tnat has been ahan
lourd for lack uf paying results with ordinary
Methods. PIG iron - loss, und although one
irm reports an advance ol llltY peutS. the rport
a not subStnutiated hy the trade in.general. Ia
.at, su far IN the market from advance, nat
hrre valley furnaces havcengagcd a cupe i,lrrAbie
PORTION of their out put Tor a iYe muuths dpiiv.
ry al the ruling quotations B.s~ciner eeems
have reached the lowest pniili at which, II has
seen sold, about tlteeu dollars helng the PITTS.
buVh prlpp aud there have been some sillcS that
lrtted tho iurUape only : l3,4a, some grades at
g iron command a better sale, such as SOFT
oundry iron, but all the Bessemer products arr
ttrtted by the slump, and the feeling h decided
s. depressed la everything but combination
hnpes steel rails are high enough, thirty d0l.
drs being "A comparatively good price, hut there
no demand Blllcts aud slabs hRyO been kuOwt
change hands thia Nock al the nm wcedeutcd
riop ~ ~ -, aud ~ the cost 81 making biliets
about the sanp ~ that OF making rails. the
Inference w the price viii At once attest tile pitt
ul condition of the iron markets as far ~ il
'eats 20 all the products outside OF combiuo
IONS