The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1902-12-28
IRON TRADE QUIET
BUT VERY STRONG
High Prices for the Output of
Next Year
STIMULUS TO THE MARKET
The Only Cloud In the Sky Threaten
ing American Iron Manufacturers
Comes From Europe-Ger-
many Pushing This Way.
STIMULUS TO THE MARKE 7

The iron market from the Birmingham
point of view is quiet but strong. 1t is
believed that selling for the last half of
next year will begin by the middle of
January. 1t seems now that prices for
that period will be around $40.
Extracts from Rogers, Brown & Co.'s
circular of yesterdays date follows;
st. Louis-The Christmas festivities of
the week have almost absorbed the en-
tire attention of the business interest
of the foundry trade, and the demand and
sales have been consequently light. Con-
siderable business for the first half of
next year, both in raw and finished pro-
ducts, has already been consummated,
and buyers will soon devote their efforts
to placing contracts for the last half of
1903, a few of which have been booked.
The market closes the year with a firm
tone.
The prospect for renewed activity after
January 1, in all lines of the Iron trade,
is very bright.
From Cincinnati.
Cincinnati-The business of the week
has been quite an animated one, though
the greatest holiday of the civilized
worlds calendar eliminated one import
ant day as to active transactions. An
optimistic spirit has been apparent, and
the keener interest on the part of con-
sumers that developed last week has
been quite pronounced during the week
under review. The demand for small lots
and car loads for immediate delivery has
aggregated a very fair tonnage. Inquiries
g. dali how CHI
a marked Improvement The spirit of
depression and pessimism awakened by
the natural conditions prevailing through
the past few weeks has disappeared.
Prices have firmed up. Bargain coun-
ters'' have been cleared, at least for the
present.
A strong stimulus has been impaired
to the market by. the enormous sales the
past fortnight of structural and other
mill products of every variety, and fur
Their liberal orders for rails and cars
Freight rates on pig iron from the Vir-
ginia furnaces on the C. and o. railroad
to the north and west will advance jan
uary /, so cents per ton, and from the
southern furnaces to points north of the
Ohio river, 10 to 20 cents per ton.
Labor commands higher value than for
many years, and the advanced wages
cheerfuly conceded In nearly every de-
partment of the iron and steel industries
necessarily enhances the cost of produce
ton very materially The better wages
paid, however, to the miners, laborers,
mechanics and artisans, means an en-
largement of their purchasing facilities,
which, added to the rich returns the till
ers of the soil are realizing on farm
products, means a continuance of pros
perty among all the people of the land
on a plane of reasonable compensatory
values. Good times and cheap prices
never were and never will be congenial
companions.
There has obtained a belief that pros
perity always comes to this country on
the wheels of the railroads. The increased
freight rites operative LIST proximo will
bring the railroads enormous increase of
profits, Which will be turned back largely
into fresh channels of usefulness in the
construction of double tracks and en-
larged equipment.
The only threatening cloud in the sky
the American pig iron manufacturer dis
Germs is in the form of foreign iron and
steel, which continue to press for Amer
lean consumption. The government re-
ports that for the eleven months ending
November 30 we have received 507 010 tons
of pig iron, of value IS. .029. December
will probably be the average of the pre-
cediiis eleven months, which will make
the Jsar's total approximately 553,2SS tons