The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1907-06-22
THE IRON MARKET
Midsummer Dizziness Is In Evidence at all
Points

Midsummer Dizziness Is In Evidence at all
Points.
The Iron Trade Review says with
the coming of hot weather. midsummer
dizziness has settled upon the iron mar
ket SO tar AS new business is concern
ed. With the exception of the usual
shutdown of mills July | for repairs.
activity of the plants will continue as
orders on hand are ample 10 keep all
the plants busy. The pig iron market
is somewhat easier, prices for prompt
shipment being lower and in some
cases concessions from % TO so cents
have been made for iron for future
delivery. No important transactions
are reported and inquiry is light, but
users are urging shipments on con
tracts
The selling Of billets by several
large interest, which usually converts
crude steel into finished product. has
relieved the train. but the demand is
fully as great as the supply and price
have not changed. There has been
considerable activity in the billet mar
ket in Chicago Effective July /. many
railroads will advance the minimum
amount for carload from fifteen to
eighteen tons and for this reason many
buyers are increasing their orders in
order TO obtain the benefit of the lower
rates and lower prices Of carload lots. .
The Iron Age says The Milliken
failure has had "A somewhat pronounced
sentimental effect both here and abroad
where its significance was not az cleary
understood The fact that the steel
plant and rolling mills have been shut
down and that the fsbricatlng shop
only will be operated to fill contracts,
causes some displacements. Another
steel plant in this district connected
with structural mills mas also stopped
running. The Milliken shut down
has caused the receivers to appear in
the market for beams, angles, etc, TO
carry out contracts and il seems likely
the tonnage will 20 to the central west
NThe pig iron markets are dull
throughout the country and in some
localities are distinctly weaker and il
is particularly the premiums on prompt
delivery which are affected adversely.
For forward delivery sellers are con.
sentative and buyers maintain an at
titude of indifference. The foreign
markets have declined TO the basis AZ
which the Germans have been buyers
during recent months in England It
remains TO be seen whether now they
will put the peg lower Under more
liberal offerings by steel works. east
and west the steel market has weaken
ed perceptilby. Some outlet has been
found 10 Canada, where the anti
dumption clause has been temporarily
suspended ms 10 steel billets. because
the Canadian steel works are unable TO
take care of the requirements Of the
consumers. Before the end of the
month the contract for 7 900 tons of
rails Tor the Grand Trunk Pacific will
be given out. This must 20 10 the
Canadian works TO the extent of their
ability 10 roll them. and therefore
there IS little chance that any part of
~ will 20 70 our mills However. il
may lead to a further diversion Of iii
let business TO this country
The demand for steel rails for de
livery during 1905 from our own rail
roads has been to some extent held up
owing to the uncertainty ~ 10 the new
specifications When that question il
settled the problems will need solu.
tion AZ what advance above the current
prices the rail mills will accept the
much more onerous conditions.
Thus far lake ship builders have
booked orders for -four boats In the
lighter branches the volume Of business
keeps up Well The buying Of hoops
and bands for fall delivery has started
and il Is intimated that there may be
q moderate advance ia cotton lines on
july ! However the hulk OF the sea.
son 4 business Is now IN hand, Among
the larger orders recently taken by the
makers Of merchant pipe Is POO miles
q : 9 and inch pipe line
viii mail son free to prove merit.
sample. 81 ms Dr shoop Restorative.
and my Book on either Dyspepsia The