The age-herald. [volume] (Birmingham, Ala.) 1897-1902, 1902-05-20
MOI PIC IRON MAY
Be QUOTED At $18
Outlook for Next Year is Un-.
usually Good
MAKERS TALK OF $40 IRON
Schulers Have not Yet Selected the
Site For Their Furnace and
Steel Mill Plant-Are
Perfectina Plans
MAKERS TALK OF Iron

There was no advance in the pig iron
market yesterday but last weeks adj
vance to a SIT basis is hardening and be-
fore many days rush orders will probably
be quoted at $1S or s1S 80 for No. foun-
dry and $3.50 or SIS for No. 2.
Our company has sold no iron for 1903
delivery, but inquiries are comiugfin, and
l do not think we will offer amy No. 2
foundry for less than $6," said a repre-
sentative of one of the large corporations
yesterday.
The outlook for next year is good and
If big crops are harvested in the fall the
country will have unprecedented prosper
ity; and that will mean, in the judgment
of some of the iron makers of the district
twenty dollar iron.
Had the large companies scheduled
iron prices on a $14 basis the first of the
year the bulge would have taken the out
put of the district just as freely as they
did at $12," remarked an iron manufac-
turer. 1.-THE difference of 81 would have
brought a million dollars more into the
treasury of the Tennessee Company. as
Stunning that that company has sold prac-'
tically all 1t will make this year"
Have Not Located Plant.
1t was rumored yesterday that the
Schulers had located their furnace and
steel mill plants, but 1t is not true that
the site has been selected. 1t Is under
stood that engineers and architects have
made satisfactory progress on the Schu-
Ter plans, but as a good deal of time is
required in perfecting designs for modern
furnaces and steel mills, and still more
time in assembling construction material
and manufacturing heavy machinery,
there need be no hurry about location.
AS an example of delay in furnace
building the Republics new furnace at
Thomas, which was to have been In blast
early In the spring, will not be ready for
the torch before the 10th or 18th of June.
The blowing engines are in perfect work
ing order, but one or two little things are
still lacking. President Thompson is a
first -class furnace man, and he docs not
intend to start the new furnace to work
until every detail is complete.
The full capacity of the furnace will be
about 800 tons day. and in the way of
labor-saving devices no furnace in the
South will be equal to this one at
Thomas 1t has cost over a million dol
lars.
A 100000 Ton Output.
The Sloss- Sheffield Steel and Iron Com
pany on the completion of its No. city
furnace, which is being entirely rebuilt,
will have an output of something like
400. 900 tons a year. President j. c. Ma
ben, who has now been In office three
weeks, is we'll pleased with the operations
Of the company. Every thing is working
smoothly.
All that the Sloss-Sheffeld Company
needs in order to increase its profits
largely Is a great steel plant, and In the
opinion of those at the head of its af-
fairs this will come inside of the next
two or three years. The company is
financially able to build a steel plant now
but the policy of the directors Is to wait
a while so as to get the advantage of the
latest improvements in construction-de-
vices that are being tested today by the
older companies. The board of directors
has set aside 100000 of preferred stock
and 100000 of common to be sold and
the proceeds used exclusively to pay for
steel works
It can be safely predicted that inside of
Eve years there will not be less than
four steel plants In operation in the Bir-
mingham district