The age-herald., 1900-03-05
LOCAL REVIEW OF
 THE IRON MARKET
Rogers, Brown & Co. Are lSsu-
 ing a Birmingham Letter.
SITUATION IS UNCHANGED
Furnaces Behind With Their Orders on Certain Grades-The Years Our put Fall Far Short of
 Expectations.

Rogers. Brown & Co.,, the well known iron brokers, who recently established a branch office in this city and whose quota tions and revislons are considered author itative are now issuing a weekly Brming- ham letter which is of especial interest to the trade.
 Inasmuch as Birmingham makes the price of pig iron for the world, the review of the local situation from a technical standpoint is especially valuable.
 In reviewing the market for last week they say:
 ''F,rom what we can gather from our standpoint here, there has been practically no change in the pig iron market. or in conditions generally, for the past month.
 "Southern foundries are still running to their full capacity, and continue to make urgent and frequent requests that the con tract deliveries on their orders for iron be anticipated. Some recent buyers have been surprised to find that on account of future orders furnaces are unable to consider their orders for nearby deliveries on high-grade foundry irons, and in consequence were compelled to split their orders and accept later deliveries. Every furnace interest in the Birmingham district is behind on cer- tain grades of iron, and some are behind on all grades.
 1.-The scarcity of fuel has been of no little inconvenience. Inability to secure prompt shipment of coal and coke during the last month has not been felt by the foundries alone, but by the furnaces and other inter- ests as well. Only last week coal was shipped from Kentucky to supply the bins of one of Alabama's leading railroads. How long present conditions will continue we are not prepared ito say, but for the present. and for some time to come, we are indeed in the midst of the years of plenty, and the voice of the croaker has ceased to be heard in our land"
 From New York View Point
 Summing up the situation from New York the following review is given:
 "There is no important change in the sit- uation to record. The waiting mood con tinues, and there is every reason to believe that it will continue until some leading buy CT concludes that it is time to take hold for future deliveries; then the rank and file will follow. The whole trouble is over the main question of whether iron is too high That can only be settled by working out the con- test of supply and demand. It is sufficient to say that at this writing both sides seem very confident of their position. -
 "A point that has greater bearing on the situation than is generally supposed IS the poor working of furnaces. Reports from nearly all districts tell the same story of reduced output and lowering of grades, in consequence of bad furnace work. This ds the result of poor fuel, due to the famine in supply of coal and coke. If the percent age of reduction of output that applies to a number of large companies, north and south, is representative of the whole range of furnaces, the country is producing quite 1.OOOO 900 tons a year less iron than 1t is sup- posed to be producing, basng calculations on the normal output of the furnaces blow ing.
 '.At the close of the week the report comes that Germany has bought from English makers their entire marketable out put of pig iron for 1900 and 1901. This is doubtless an over-statement of the facts, which appear to be that Germany has con- tracted for two years ahead for all the Bes- semer or hematite pig that she can get from Great Britain, and doubtless for large quantities also of foundry and forge iron. It is regarded by leading iron and steel men here as settling the status of the markets for at least two years ahead