The age-herald. [volume] (Birmingham, Ala.) 1897-1902, 1899-02-18
THE Pig IRON
MARKET BOOMING
Sales Are Increasing and Stocks Being
Reduced.
IRON PIPE Is GOING UP
There is General and Substantial En-
larsOment Of Business.
IRON PIPE IS GOING UP
THE ORGANIZATION OF TRUSTS
Have Given Stimulus to Business, But
Beyond This a General Enlargement
of Business Due to Prosperity
and Growing Population.

New York. February 17.-R.- G. Dun &
Cos. weekly review of trade will say to-
morrow
Beyond question business is expanding
and in many branches it is larger, notwith-
standing speculative combinations which
tend to reduce it. All monopolies, or at
tempted monopolies, stimulate business
while they are coming, but tend to stifie
it after they come and the throng of COM
binations and trusts which have been
formed or proposed have given a temper
airy but very questionable impetus to trade
But beyond the influence of these there is
genuine and substantial enlargement of
business due to the unexampled prosperity
of a growing population.
The weeks output of pig iron February /
was 237 639 tons against 23516 January 1
and 235, 526 December l. The average week
ly productions thus indicated was about
1000 tons greater in January than in De-
cember, and the unsold stocks were re-
duced 1851 tons in January against S7,449
in December, so that the apparent con-
sumption in manufacture was in January
1,11O.079 tons against 1O9S,176 in December.
The stoppage of several furnaces for nee
esSary repairs at time when the demand
is most pressing has caused some fear of
famine, although quite number Of other
furnaces have started since February l, or
are about to start. Pig iron has advanced
but the largest consumption ever recorded
in any month is in part due to the hasty
purchases of products about to be con-
trolled or advanced in price by a combina-
ton. There SO many of these in the
iron and steel industry with the entire ca
pacity of all works engaged until after
July l is not unnatural nor the strength in
plates for which the legitimate demand is
beyond all precedent and the same is true
of bars the quantity required for cars, rail-
way and agricultural implements works
being enormous. In pipe, the association
lifted prices per cent, with heavy order
from the Indiana Gas Works as does the
expected combination in sheets.
No fictitious demand has caused the rise
in grain, for the exports continue so heavy
in wheat and corn that the advance of
csc in wheat is abundantly justified, and
the rise of &c in corn seems scarcely
enough for the occasion. Atlantic exports
have been retarded by the blizzard, but
have been 2,265,715 bushels (four inciuded)
against 3,132, 057 bushels last year, and for
the crop year thus far the exports Qncud-
ing -FOUR have been 1876, $40 bushels.
against 14S, JAZZ bushels last year. When
1t Is remembered that the exports of corn
are almost as large as the largest ever
known, there is reason for astoniShment
at the continued foreign demand That it,
exists in spite of the strong advance in
prices here since September l is most en-
coura ging. 1t is obviously impossible to
judge how far it may go.
Nor does the foreign demand for cotton
abate, though the price has again been
raised 3-16c during the past week. The ex-
ports have decreased some, but the con-
trolling factor is that remarkable shrink
age in receipts from plantations appears to
indicate a smaller yield than has hitherto
been expected. 1t should be remembered
that the receipts have been greatly him
dered of lale by bad weather and when it
passes away they are likely to look large,
as they now look small, but snow in New
Orleans almost means failure to save and
market some cotton which might otherwise
be saved. The heavy demand for goods
helps to advance prices just now, although
no assurance can be given that the decln-
ing prices will not presently check that de-
mand.
There is more inquiry for wool and the
manufacturers have larger demand for
heavy weight goods, but claim they cannot
pay prices now demanded for wool. Sales
at the three chief markets were 616G 200
pounds. which is about the weekly con-
sumption with eastern mills well employed.
The minor metals have been running
weaker with reaction in London, although
the Industries have shown no abatement of
demand in this country and the rise In
prices here is largely due to increased con-
sumption.
Failures for the week have been IT'S In the
United States against 2S5 last year, and Is
In Canada against 80 last year.