The Ely miner. [volume] (Ely, Minn.) 1895-1986, 1897-05-12
The MARKET.
Ore Sales Not Very Numerous
Says the Iron Trade Review.

says the ITOn RTsssAC lNCtIch.
Purchases of old-range9 Bessemers
have been almost entirely confined to
low phosphorus ores, thus far, !
though some deals for other ores are
under negotiation. Outsideof Mesabi
ores-and for these, in spite of reports
of deal covering several years. the
contract is only for 1S97-the Illinois
Steel Co. has not made its purchases.
4 proposition is under consideration.
however, by which ores would be
stored on the South Chicago docks of
the company, as they are now carried
at Lake Erie ports. Whilethe Illinois
Steel Co. might not buy all such ores
for the season ia which they are
shipped, it would agree to give them
the preference in its purchases OF the
following year. The slowness of prep
arations for the season of navigation
is better understood in view of the
dock statement showing 3.2T6. 497 tons
OF ore at Lake Erie ports on May l.
In the week 10000 tons OF Marquette
ore has been covered at so cents, trips
extending to Sept. 1, but no charters
from the head of the lake are report
ed. We are officially advised that no
reduction has been made in the rail
freight from mines to Marquette, the
32-cent rate being still in force. We
are able to give more completely than
before the prices quoted for 1897 on
old-range ores covered by the associa-
tion agreement: Marquette range
Angelina Hard, So. As: Angeline Hem
attic. 1922: Lake BesSemef soft,
81. %: East End BesSemer soft, S2.4S:
Salisbury Bessemer soft, $3.50; Cleve-
land Bessemer (hard. crnshed9, So. Is:
Sawmill thard, crusEedl. s2-5S; No.
Section Is Bessemer lred specularl,
So. ~: No. 2 Section IS Besseiner, 81 80:
New Shaft Section 16 BessemeE, s.. 9f
the last three being Lake Superior
Iron Co. ores: Champion No. 1 crush
ed hard orel. $3.50; Harvard BessemeI
Hematite, S2.6S; Bessenier Old Mine
Hematite, s2.35; Regent Queen. 1882
Republic Special, $40; Republic
Specular, $3.17. Gogebic range
Norrie, s2.65; Aurora, $3.50; Ashland
$3.50: Tilden, 1856; Montreal, S2.77
East Vein Anvil, 1926; Broeherton
1892: Sunday Lake, s2.S5; Eureka
50. 264; Atlantic, $3.50, Palms, 1921
Cary Empire, s2.35. Menomine'
range-Chapin, $40; Ludington
s3.11. Vermilion range.-Minnesota
SO. IL; Chandler, 3d. 23: Pioneer, s2.S7
The East is taking part in thu
movement to curtail pig iron output
in which the Mahoning and Shenangt
valleys led. Several Lehfgh an6
Schuylkill valley furnaces have blown
out and the statement for May ma.
be expected to show sharp reduction
in the make of pig iron. So far thu
South has not made any move to re
duce production, and the Tennessee,
company, having booked each week o
the past month larger tonnage thar
it has produced, is not likely to TAX
the initiative. Its miners seem dis
inclined, from last reports. to accep
the reduction which it is proposed t.
make on July /, and the middle of TIL
year may bring a shutdown on tina
account, but there are still tw
months for the situation to clear
The freight reduction of 40 cents o.
Southern pig iron to Central Wester
points and from % TO 40 cents O.
Eastern deliveries has been followe
; by CORRESPONDENCE low quotations o
Alabama irons, though prices at ful
naces remain practically unchanged
Foundry demand is not stimulated b
these cuts. however; more business
| the only stimulent that will be effec
i've there as i'm other lines. CurrcI
quotations are on Il basis of 81
Birmingham for gray forge and S..
. to $3.50 for No. 2 foundry. The who
situation so far as pig iron of a
descriptions is concerned is one {
eugorged production, with flrnac,
so run for large outputs that few'
are needed with every month to tai
= care of the average requirements
: the country. In ore the congestion
marked, too, as 81 million tons {
Lake Erie docks May gives evidenc
There must be good breathing spe
before consumption can catch u
This means diminished employmel
g for labor at iron mines and furnac
$ meantime. but what has been d