The age-herald., 1902-03-02
Large Companies Still in Fear of a Runaway
 Market
SALES FOR QUICK DELIVERY
Such Orders Are Only Small and the Commodity for Early Delivery Is Scarce-Present Conditions
 Complex and Peculiar.

 and active with tendency to advance. The large companies, realizing the disad- vantages of a runaway market, which would necessarily result in the swinging back of the pendulum, are still harping on the importance of keeping quotations unchanged. Small sales for quick deliv- cry are being made at figures above the schedule, and some grey forge has been sold recently at a price only little But these are said to be exceptional cases.
 The difference between Southern and Northern irons at consuming points in the East Is from $l. .5O to 800. There is a scarcity of all grades for early delivery.
 Shipments for February.
 In the month of February something like 100000 tons of iron were shipped from Alabama, including Tennessee.
 Rogers, Brown & Co.'S Cincinnati cir cular of March l, reads:
 The present condition of the iron mar ket Is so peculiar and complex that it deserves somewhat extended mention. Nothing like it has ever been known in our country before Combinations and agreements were formed in past years for the purpose of maintaining or advanc- ing prices, and strenuous efforts were necessary to prevent cutting the fixed schedule. The courts were invoked to protect the buyer from the so-called ex- tortion of the producer, but now produc- CTS have agreed to protect the buyer from himself. Following the lead of the United States Steel Corporation a number of the largest interests in the South decided to hold the price of foundry iron within bounds and fixed on s12oo cash Birming- ham as the limit for No. foundry. They feared that consumers would become ex- cited and by rushing in to cover require ments would cause values to advance unduly. The trade papers were called to their aid and the information was given out that one half the output of Southern iron for the year had been disposed of. Furnace agents who recently were stating that everything for the first half and much for the third quarter had been sold, began telling customers not to get alarm ed that prices would not advance and there would be plenty of iron for all Up to this time the market for Southern iron has undoubtedly been steadied by this course for the companies who think the buyer does not need them as his guardian have not advanced above $13.O Birming- ham basis for No. 2 foundry, although considerable has been sold at that fig ure. It Is reported that the SIP. % furnaces have withdrawn from the market because of their oversold condition. An iron man said the situation reminded him of the boy buying eggs. When told by the gro- cer that eggs were B cts. per dozen he replied that MT. Smiths price was 12 cts, but when asked why he did not buy them, answered, MT. Smith is all out.''
 Increase of Iron Making.
 "A fact of importance sometimes over looked is the increase in basic iron-mak- ing in the South in furnaces that former ly made foundry grades. Six of the larg- est stacks in and near Birmingham are used for basic and the only new stack now building there. it is reported. will start on basic. The month of March is usually one of the worst for outdoor work, and 1t Is not believed that produc- ton will increase during the next few weeks.
 'If the present demand continues it probably will be the furnaces having iron to sell that will determine the price. Not all foundrymen care to have iron kept dowh, for many of them sell cast ings on a sliding scale, and it is not to their advantage to make settlements on a lower schedule than the actual price at which deliveries of iron can be ob- tained before July.
 During the past week many orders for Southern iron were placed with the $12 furnaces. Several large contracts for Bessemer were made by an independent steel works with southern Ohio furnaces for delivery during June to December, and these orders will decrease the supply of foundry iron that would otherwise have been made by these stacks.
 Furnaces making Southern car wheel Iron are said to have sold nearly all of their output for the entire year. and the Ohio high silicon brands are off the mar ket for the present"