The age-herald., 1901-03-17
A FIRM TONE TO
 THE IRON MARKET
Demand Continues Good With Frequent SaIeS-PriceS
 During the Week

The week just closed was an active one in the iron and steel market and num- Der of good sales of round lots were made The demand continues good and the market has firm tone. Another ad- vance of 25 cents ton, the fourth since November ', was made during the week, No. foundry now selling at s11.5o, or $l a ton higher than in the first week in November and 75 cents higher than on January 1.
 The buying In the past few weeks is said to be strictly legitimate and not for speculation, was the case when the market was rising year ago. Good lots are being taken by foundrymen and oth- CT consumers and there is every indica- tion of continuance of the present ac- tive demand throughout the year.
 The current rumors that the three big iron companies of this district were on a deal to consolidate the properties with a capitalization of s10O, 0OO. 900 Is denied by the officials of the companies affected and there may be no truth in the rumor. However, 1t has been revived in New York within the last two days and tho financial papers of that city state that such a deal Is contemplated. Whether it will be consummated remains to be seen. Should the Tennessee Coal, Iron and Rail- road Company. the Sloss-Sheffield Steel and Iron Company and the Republic Iron and Steel Company consolidate they would form a gigantic corporation and would absolutely control the Iron and steel and mill industry of the South, as the United States Steel Corporation con trols the iron and steel industry of the country.
 It Is stated that the office of the treas urer of the Tennessee Coal, Iron and Rail- road Company Is to be removed to New York and that Edward Graves of New York. one of the new members of the board of directors of the company Is to be elected to that office. Officials of the Tennessee Company in this city de- cline to discuss the matter at all for pub lication.
 The directors will meet in New York this week and elect officers for the next year. It Is generally understood that President Nat Baxter is to be reelected.
 The annual meeting of the stockhold- CTS of the Sloss- Sheffield Steel and Iron Company will be held in New York on Tuesday of this week No official changes in this company are anticipated. Presi- dent E. O.s<Hopkins has been at the head of the company since September, and 1t Is stated that his administration of the afIa1rS or the company nave DeeH HI8Hly satisfactory to the directors
 Rogers, Brown 6 Go.
 Rogers, Brown and Company, in their weekly iron letter, say
 The week just passed has been quite an active one, the buying has kept up well and the orders entered aggregate large tonnage.
 The demand seems to be entirely legiti- mate in the covering of contracts and making provision for known and reason- ably certain requirements. There is no speculative buying.
 Bessemer has been sold during the week at S1e cash Valley and is apparently scarce at this figure.
 On the 12th inst. the leading Southern pig iron factor moved prices up 25 cents on all grades, making their price for No, ? foundry $11.50 cash Birmingham. The scarcity of Southern soft and foundry grades, which continue in active demand, will probably occasion another advance within a few days. Prices on Northern irons have hardened and some brands have advanced 9 cents per ton stepping to the livelier tune of improvement and keeping cheerful pace with Bessemer Basic and Southern production. The buy ing is in quantities from one car load P D. Q. to contracts for round lots extend ing three to six months into the future
 Notwithstanding production during the month of February increased at the rate of about 15,000 tons per week, stocks at the furnaces were reduced during the month nearly 30,O0O tons. These estab- lished facts demonstrate that consump- ton has quite reached that of the boom period.
 Coke has stiffened the past fortnight an average of about 25 cents per ton. The best brands are really scarce. The market closes without undue excitement, but strong and with an advancing tendency.