The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1907-11-30
HOPEFUL FEELING IN
THE IRON BUSINESS
cURTAILMENT or PRODUCTION HAS
BROUGHT A BETTER TONE.
ess SHIPMENTS UNPRECEDENTED
Greatest Output in the History Of the
Trade VIII be Recorded For This
Year.

With improvement In financial condi-
tions there is a mole hopeful feeling
in the iron trade. and there is also in
creasing confidence that when bottom
prices have been struck. there VIII be
buying movement of considerable
volume. but In actual transactions
there is little improvement says the
Iron Trade Review.
Curtailment Of production is being
continued. although now and then a
plant resumes with prospect of un-
interrupted activity. In most cases,
however. the assumptions reported are
temporary. The Steel Corporation now
has 40 idle blast furnaces. The num-
bers, however do not present as large
q percentage of productive capacity as
might be supposed. because some OF the
idle stacks nave comparatively small
capacity Many furnaces OF indepen
dent interests. as we'll as some of the
Steel Corporation, vii suspend before
Jan. /. The Corporation has shut
down it's Nortn Sharon Works. includ
ing open hearth furnaces blooming
mill and shape mill The south Shar-
on plant is still operating the Mingo
plant is down entirely and the open
hearth department Of the Donroa works
is idle. the blooming mill there rum
ing on cold ingots.
The pig iron market shows further
weakness. Southern grades have de
clined 10 a basis of Sl5 Birmingham.
for No. 2. while northern iron can can
be had in southern Ohio at SIS, aud in
the New York district at Sl7. In other
districts smoewhat higher prices are
named. but could probably be shaded,
il desiable business should develop.
1t is estimated that IN the New York
and Chicago districts the melt Of
.lpundries has been reduced about 80
frrnt the ssrne is probably true in
other districts
The rigid economy being practiced
by some railroads is Illustrated in the
putting down Of old rails which were
taken up in more prosperous days when
IL was thought that their usefulness
was at an end, and by the repairing Of
equipment which had been condemned
10 the scrap heap There is no pur-
chasing Of standard rails. and trans
actions in light rails are few, with
Prospects OF lower prices. Several rail
ways have appeared during the week
as buyers Of few thousand tons Of
bridge material.
Projects involving nearly 90, 600 tons
OF structural material are pending at
Chicago. md will be carried out az
soon as financial conditions permit
The sheet market is quiet and there is
considerable cutting in prices by job
bers. Municipalities are slow in plac-
ing orders for cast iron pipe, In spite
Of the recent decline in prices The
tin plate market is dull. and there is a
prospect that at the present rate Of pro-
duction the demand will greatly ex-
ceed the supply next spring The de-
mand for wire.products, which contin-
ued strong after the depression had set
in in other lines, is now very limited.
IRON ORE.
Preparations for the ending of the
seasons ore movement on the lakes are
RAPIDLY being made. The feet of the
Steel Corporation will take its last
cargo at the upper lake ports this
week and IL is expected that the second
week In December will see all the boats
laid no for the winter. The present
week ia also the final one OF activity
for most of the shipping interests, but
a few boats will be operating. and
some ore will be brought down tie
early part of Docember. Shippers have
been favored with good weather condi-
tions at the mines during November
and though the total seasons move
seus has ceased to-astract much atten-
flon, nscauae Of the certainty that
plenty OF ore for the needs OF the i'm
mediate future is available, IL II be-
lieyed that this will probably exceed
no. GOO, 900 tons. Dock piles are being
steadily Increased, and the storage cap
acIty has been reached, There IL ~
vet no inclination to consider mex
years ore price,