The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1891-06-27

delivery throughout the year, though
| the lending companies nrensking twenty
live cents more, there seems 10 be plenty
al cheap iron 10 supply present needs.
some good-sizsd orders have been phtced
In tive Chicngo market during the past
week Tor southern cuke iron, these being
for long scattered deliveries. Low prices
have been made, indicating that the
southern furnaces ARE In need oil ad-
ditional orders To present an accumuIa-
tion 81 stocks. A moderate oi
general business is going, but h volume
IN much smaller than during last mouth.
Prices remain about AZ reported "a week
| AGO, though on southern coke irons q
OF "A disposition exists TO shade figures
Tor desirable parties. Dur Buffalo cor
respondent notes the fact that as yet
there has been hardly time To feel the
effects Of the recent blowing IN of several
~ the Valley furnaces. Whether the
additional production will nc this time
create AN excess over consumption re-
mains to be seen. IL II very doubtful II
prices will decline further, ~ they have
so long remained low. anticipating the
present situation. There has been "A lair
amount 81 buying during the past week,
at Louisville. Although there have been
no large orders. they have that appear
ance when compared with the purchases
for some time past. Buyers still adhere
to the principle OF buying simply to cover
actual wants, and think there H. nothing
to be gained by buying ahead. Sales
have mostly run In the line OF charcoal
metals. While nearly every branch oi
the iron business at Detroit looks decid-
edly brighter and more brisk IN every
direction. there IL no actual change In
prices. The purchasing 81 ore, the term
....stAa - sl.n aba Af.aEa fla itnrlrv
for cars, all lead 20 a large inquiry for
pig iron. and also some actual %ansac
tions of considerable magnitude, p~articu-
larry for Lake Superior charcoal iron
for car wheel purposes. have been made.
TIC Local SITuATION.--Ncry little az
be said al the market In general except
Tint the signs of AN impending change
are not wanting. although no one seems
to be able To make much ~ n forecast 81
the coming events. The only thing that
may be stated with any degree Of GER
tainty IL the Tact that 10 two men In the
business can be found TO ngree upon any
one question affecting both, either 81
fact or of speculation. Among the ore
men no less than among the makers 81
Dig iron every shade uf opinion can be
found, embracing every hue ofpossibility,
from a deep and gluomy black Ia a lum-
nous, bright chrome. Yet, nfterall. il Is
not going much out OF the why tO state
that the prevailing colOr il Ia the latter
direction, and that the Kaleidoscope Is
turning i'm the direction 81 the roseate.
There are ore men who do not want to
sell their possible output, because. as
they sny. there il no uee giving il AL
away when there Is more than n proba-
ility ~ getting better prices later ON,
and, moreover. because large sales. at
tie ruling low prices. would simply mean
the impairment OF their working cnpitRl,
the mine. without any adequate return.
Then. again. there ARE t~hosaxvho. having
settled the question among themselves
whether or not they meant 60 be- sin It,"
haze resolved tu be- in the procession, il
only to keep their trade. One such firm.
that has found that 10y selling "A hundred
thousand tons az ore they would lose
money where they would make a small
profit by selling four times that amount,
has gone into market, cut it's price until
nothing remains 81 IL but rags and
TAFT ara, and Is b%iddingfor business, while
another firm, quite similarly situated, IL
holding of. preierring the advance that
some are hoping To realize later on.
Those who, having materially cut down
their output az ore. are not Immediately
affected, and are therefore no factors i'm
lilt Illt htls III lltlNl W iit Hilltf ODllioU.
Almost every ore firm reports IA number
81 similar sales, no the old price made a
month ago. Quite a good deal ofChapin
il sold. more than three hundred thous-
and tons, ard some al IL at four dollars.
The sales ut Ashland are iflso quite
large. the probable output falling but
slightly lehind last years production.
IL II "A notable fact, however, that those
Mahoning Valley furnaces that have
started mp. are by no means fully sup
piled with Bessetner stocks, while they
all report full purchases OF other grades
81 ore. The fm aaces ARE getting all the
coke they need, but there TX n dcarth Of
ore. owing to the prolonged dock strikes.
The pig iron market. although void
~ Improvement ia tho way OF
bitter quotations. IL quito firm. and
the quantity Of iron for sale for future
deli sery tx getting scarcer from day To
day, which IL "a very good sign. The in
auiry for iron 81 all makes tx rather
lively, md ut this rate the chances are
more than good for a stifiening In the
price. The local dock strike, which wns
thought 10 be about settled. has broken
out afresh. and ne the hour az going 20
press the hArbor IL choked with boats,
| most 81 them waiting 90 Toe unloHded,
aud a few with hall curgoes The ques.
ton of pay was left by both sides 60
arbitration, with the result that the
arbiters settled upon "A twenty per cent.
reduction ~ equitable. The dOckmen,
Ceclined 10 accept this result, however
aud unless they return to work by the
end of the week. new men will take their
places. Even utter work begins In
earnest, from three to four weeks will b,
required to get the boats into regular