The Birmingham age-herald., 1902-10-05
FOREIGN |RON IS NOW HELPING OUT The Market Remains Very Ac-
 tive and Strong SPOT BRINGS ANY PRICE Selling Price for Latter Half of 1908 Will Probably Rs Established at a Conference to Be Held
 Soon.
SPOT BRINGS ANY PRICE

Spot iron continues in active demand Pt any prices that sellers choose to ask Twenty-four to twenty-five dollars seem to be the prevailing quotations. although some selling has been under and some over those figures
 Few of the large companies in tho southern territory are booking contracts for delivery In the second half of 1SO3, as nearly all of them agreed in conference last summer upon 517 as the price for the first half of 19os and not to sell for the second half of the year until they met again and fixed schedule.
 It is understood that the 18th of this month has been suggested by the Tennes- see company as the date for a confer ence to discuss quotations for next fall delivery, but it win probably be several days yet before the meeting win be called. From the present outlook S20 or $M for No. 2 will be agreed upon as the basis.
 Extracts from 1togers. Brown 6 Co.'S circular of yesterdays date follows:
 Foreign Iron.
 Cinc.nnati-rhe general conditions of the pig iron business have not changed for the better. The scarcity of good do- mestic foondry grades Is still more keen ly felt, and for quick delivery such small lots as can be supplied are taken nt fancy figures. The famine in Iron that was threatening would have been realized had there not been relief from abroad. Sup plies of English, German and Scotch are coming forward in sufficient quantities to enable foundrymen to continue in op eration. The innovation of foreign iron is rather repugnant Eentimentally to pa- triotic Americans, but temporarily the alien product is very welcome, as It's pi essence precludes the necessity of clos ing down foundries on every hand. It is reasonable to believe that the British and Gern an products will be important factors throughout the fall and winter
 Prices have hardened during the week. Quotations for deliveries the first quarter and first half of next year have advanced to closer parity with prices for the last quarter of this year. The division line will be lost altogether in the very early future and "spot" and future be about the only distinguishing ciassifica- tions.
 Inquiries for the latter half of next year are more numerous. Manufacturers are desirous of securing their old, familiar and acceptable brands for steady supply and will be seeking more and more dur ing the close of the year to secure them.
 The furnaces are now quite actively en- gagged in making contracts for their coke for next year. Some have already con- tracted. When the furnaces shall have perfected their arrangements for fuel they will feel freer to take on business for the latter half of 1903 and orders for that period will be more numerous from now on.
 Foundry Coke.
 Philadelphia.-Th demand for coke at present overshadows the pressure for pig iron. Foundry coke for October delivery easily brings $1050 to $11 at ovens and some Sales are reported on the $12 basis. Even If ovens were able to supply the demand, railroads are In no shape to move the material to destination No im- mediate relief in the fuel situation Is in sight.
 Pig iron for early delivery is stronger, and were it not for the coke scare there would be heavy buying both for this year and for next years delivery.
 Advances in the price of English and Scotch irons, together with higher ocean freights, have caused proportionate ad- vances in foreign brands in this market.
 Chicago-As all the live questions of the day which are claiming the atten- tion of the people affect in one way or another the iron and steel trade, iron con- ditions are in a large measure depended upon the final outcome of some of the above situations. So far as the usual points of interest in this territory are concerned there is little new to report. None of the furnaces in this district, re- gently reported out of blast on account or lack of coke. have been receiving in- creased supply and in consequence are still banked. While in some directions hopes of additional fuel have arisen, the general situation can hardly be said to have improved.
 One or two large sales have been made for next year, but the general run of inuuiries from all classes of trade has been rather light. The fiuctuation, how ever, is not entirely unexpected, for figure 1t any way one has a mind to, the general result is a more deeply rooted conviction that there will be a serious shortage of pig iron by the first of the coming year, unless, of course. there Is a free importa- ton of foreign irons or an unexpected in- crease in our home production.
 Spot iron continues to bring good prices and about all of 1t is taken as fast as bought the buyer only needing to be assured that the iron is on cars.
 Foundry coke Is still scarce and in heavy demand. Nearly all trades are for spot or early delivery.