The morning news. [volume] (Savannah, Ga.) 1887-1900, 1895-06-29
ALABAMA IRON ON A BIG BOOM.
An ADVANCE IN PRICE OF 1915 PER
TON SINCE MARCH.

Probability That the Price VIII
Co stiII Higher-The Wages of the
Miners Advanced 80 Cents Per
Ton-The Demand For the Ore
That Prevailing in 1898.
birmingham, Ala, June 2S.-The Age
t4srald will print the following to-mor-
VOW. Iron was advanced 81 ton yes
-sr5av by the Tennessee Coal Iron and
Railroad Company. which makes a total
of SIS a ton since March Is. and the
Indications are that it is not done rising
yet.
The prices ruling in the Birmingham
iron market yesterday were as follows.
No. foundry, 1915; No. 2 foundry, 1926;
No. foundry, 50; No. l. soft, S9.25; No. ?.
soft. 50; gray forge, SS.75; notified. sS.75.
The Tennessee Coal. Iron and Railroad
Company sold a considerable lot of iron
at the new price yesterday. and the mar
ket is active and continues to strength
en- day by day. An Age-Herald reporter
called on President Baxter of the Ten
nessee Coal, Iron and Railroad Company
at his private residence yesterday for the
purpose of interviewing him. Mr.. Bax-
ter was in the best of spirits, and In re-
Spouse to the reporters question said
we made an advance in iron to-day &c
cause we were selling more iron at the
former price than we were making, and on
account of the activity and strength of
the market. and also to put us on an equal
footing with the northern and eastern
market. The advance to-day of 81 a ton
makes a total advance of $225 we have
had on our iron since March 10. The ad-
vance Of Bessemer iron at the same time
has been $3.50.
Under this price coal miners, working
In mines of the Tennessee Coal, Iron and
Railroad Company in this district, are en-
titled to an advance in their wages of
50 cents a ton for mining coal. So soon
as we announced the advance in iron we
Immediately notified the miners that from
and after July / they would receive so
cents ton more for mining than we have
been paying them. Notices to this effect
have been posted to-day at all our coal
mines in Alabama.
1.-The Tennessee Coal, Iron and Railroad
Company have about 5000 miners employed
and the increase in wages amounts to
community have great cause to be con-
graduated continued Mr. Baxter, on
this advance in the price of iron and the
increase in wages of miners, as Birming
ham Is more largely identified with the
coal and iron industries than any other
southern city They will derive beneficial
results from the advance In iron and
wages 1t means great deal more money
for distribution and circulation, and will
attract labor
Continuing, Mr.. Baxter said: This adj
vance in iron to-day brings 1t up to the
prices of 1893 but is still lower than the
prices that prevailed prior to the panic of
1893
Mr., Baxter predicted that iron would
go stfll higher this year even within
short time Speaking Of coal, Mr.. Baxter
said the Tennessee Coal Iron and Rail-
road Company were opening the Henry
Ellen mines, located 20 miles east of Birm-
ingham on the Southern railroad. BY July
! theyswill be ready to ship coal from the
mine there. The company has spent
large amount of money cleaning out the
mine at that point, which has been closed
the past four years. and during the fall
and winter they expect to make large
amount of this very superior coal The
coal mined there is equal to that obtained
from any mine in Alabama for CRATE uses.
Lumber is another article which is
manufactured On All 6AltASlNt Stdit III
Alabama. A prominent lumber dealer
stated to an Age-Herald reporter that he
expected an advance In the price of lum-
Der in few days. He said lumber and
iron usually rise and fallin about the
same proportion. The demand for lumber
he said, is good and the market displays
considerable activity.
''The Jenlson Lumber Company, loca-
ted at Jemison. on the Louisville and
Nashville railroad, about fifty miles south
of Birmingham, has advanced the wages
of its employees 12iz per cent"
YOUNGSTOWN, O.. June 2S-An important
meeting of the Bar Iron Manufacturers
Association was held here this after
noon and before adjournment 1t was unan-
imously decided to advance the price OF
bar iron at 81 ton. The advance goes
into effect at once and is the second or
the same amount in short time. An
other advance in few days is probable.
as all reports indicate an active demand.