The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1902-11-23
,NN.f -aaNN N
IRUN IRADE SILL
FIRM AND HEALTHY
Slight LuII But No Softening
of Prices
CONTESTED CAR SERVICE
difficulties of transportation Are
Harped on and Dlstressful condl-
lions Prevailing Are Paramount
Features of General Situation.

While there is talk in some quarters
of softening in the prices of pig iron
the market from conservative view
point seems quite strong. Spot iron IS IN
as much demand as ever and sales OF
small lots were made here last week for
s25 for NO. 1 foundry, and the bulk of the
make for the first half of 1903 is sold
on basis of s17 for No. 2. As the end
| Of the year draws near there will ma
terially be a hull In the market but man
ufaeturers in this district predict very
active trade again after the 1st of Janu-
airy.
Extracts from Rogers, Brown Co.'S
circular of yesterdays date follow;
At Cincinnati.
Cincinnati-The pig iron market, as
compared with its status in the near
past. is quiet. The lull is wholesome and
the restfulness conducive to restoration
of normal healthful conditions The de-
mand is light. Many consumers feel that
prices are softening and that further re-
auctions are to be expected. On the other
hand, the supply is light and the pro-
ducers feel that with their order books
| so well filed they need not be con-
| cerned as to fresh orders for some time
to come especially as we are upon the
threshold of winter with its unfavorable
weather. and the possible further cur
tailment of coke supplies In the south
the near approach of the holidays, with
all the festivals and frivilities incidental,
| gives no promise of an increased output
| In that section.
There seems no attainment of consump-
| ton; foundry iron yards are mostly quite
| bare and consumers are depending upon
| the tardy shipments on old orders, or
| special lots bought for immediate relief.
The coke situation continues strong.
| The buying during the week of both fur
mace and foundry has been heavy. Fur
mace and smelling contracts for all of
| next year have been made for Connells-
| vile products at 81 cash ovens; for Poca-
| hontas all of next year 50 has been the
minimum, and a large tonnage at 1925
| and $3.50 for the first half has been
| booked. In the Virginia district 81 to $4.25
| for the first half are lowest figures for
| furnace coke.
| Foundry cokes are scarce for the first
| half at this time. Several important pro-
| ducers are disposed to wait until De-
| cember before making further contracts,
/ having already entered liberal tonnage;
| 94.OU TO % caSn, OVENS, LOT next year cOll-
| tinue the minimum prices In the impor-
! tant fields. For deliveries this year Sc to
| $3.50 represent the prices current in the
various districts
The harpings on the difficulties of rail-
| road facilities and transportation have
| rendered the subject hackneyed, but the
| distressful conditions prevailing render 1t
| solemnly the paramount feature of the
| iron and coke trade throughout the coun-
| frv ha M mn In
most of the important centers the conges-
| lions are as pronounced as ever, with no
| prospects of unraveling the tangle while
| the general business of the country con-
tnues so heavy. or until the railroad mo-
| tive power Is tremendously augmented.
At New York.
New Worthwhile check in consump-
| ton is apparently the only cure for the
| congestion in the iron made. no sign is at
| present visible of any such check. The
| difficulties In transportation are less acute
| at some points and more acute at others.
| As a whole, there is no Improvement.
Many furnaces are closed down for want
of coke and many foundries are embar-
raised for want of pig iron. A slacken-
ing in demand that would be real enough
to permit the railroads to catch up with
their business and the furnaces to fill
long-overdue contracts, would be gen
uine relief. The present condition is very
trying on both consumers and makers. :.
Under the circumstances there is not
much disposition to place forward con-
tracts except among belated buyers who
have misjudged the situation and made
no provision for the first half of next
year. Some of these have been in the
market the past week for round guam
titles, and have found their favorite
brands sold to July. Those who have con-
tracts placed. but who are not getting
| their iron, are not disposed to buy future
promises at higher prices than past
| promises.
The wave of pessimism and liquidation
which has been passing over Wall street
| attracts some attention In the Industrial
| world but is regarded as having no fur
| Their significance than the much-needed
| correction of evils in the speculative
world II is the universal opinion of bus
| mess men and manufacturers that credits
| are not extended and that speculation,
| outside of Wall street and its following
is not active and In no degree dangerous.
At Chicago.
Chicago-Trading during the past week
had the appearance of being quite brisk.
but nearly all the transactions were for
car load and hundred ton lots-total tom
mage being rather below the average.
Very few inquiries are noted for for
ward delivery, and this is not In any de-
gree astonishing as nearly every year
sees a lull as the new year approaches.
The imaginary line to be crossed January
/ appears to be boundary of some kind
to the effect that freedom of vision and
action will not be achieved until the other
side is reached. Any weakness in prices
developed during such a period can hard
ly be ascribed to falling off in demand or
any considerable increase in production.
Actual conditions have changed but lit
tie.
At Plttsburg.
| Pittsburg-The press at large has been
INDUCING in widespread comment on the
| critical condition of railroads generally
in the handling of freights Nowhere in
the country is this condition felt so acute
| ly as in this district and the congestion
| is now at It's most aggravated stage.
| case in point is that of local concern
| situated on three trunk lines which is
| today closed down owing to non-delivery
| OIL raw material and, in consequence.
throwing some 1000 men out of employ
| ment.
| There is little to report as to market
| conditions. Prices still maintain their
high level with never a sign of recession
nngfiukI Painted by Miss
IInI0IHAl Alice RumDh for