The Birmingham age-herald., 1902-08-17

The Iron market could not be firmer than 1t is. The eagerness or buyers to cover for the first six months of 1908 has stiffened prices here beyond the SIT No. 3 basis which was agreed upon by the large companies a few weeks ago. Sew eral ironmalxers of this district have never quoted No at less than SIS, and this price can now be obtained. The un- precedented crops have aeeentuated prosperity, and 1t is now felt that thero can be no Tagging in the demand for iron during the next twelve months.
 Extracts from Rogers. Brown & Co.'S circular of yesterdays date follow:
 Cincinnati-It has been predicted that the very limited stocks of pig iron at the Merchant blast furnaces could not be further reduced The official statistics for August 1, however, show a reduction during the past month of about 60OO tons and the total stocks now reported are cnly 75,00O tons. On November l. 1900, the stocks were about 760. 900 tons. A com parison of these figures will show how much in excess of production the con- sumption has been, and the amount of TOT o1En Iron WInHn IS BelslB iHipolNSh should also be taken Into account
 The past week has witnessed a con tinuan,e of active buying and very heavy tonnage of orders has been placed. There are reports daily of furnaces with drawing from tho market for the first six months of 1903 because of large sales. Two of the leading interests in the south have been tal1irg business on a basis of S17 Birm.nghSul for No. 2 foundry, de- hyeriea either through ths first half or recond quarter of 1903, but the other pro- dueers ir that section have been asking from s1750 to SIS Some os them have their ideas still higher
 There has been considerable inquiry for rorthern brands of coke iron, and it las developed that the offerings for the first quarter are limited For the second ouarto. prices of northern No ? foundry are S22. .0G to S22. 50 cash furnace.
 New York-The one overshadowing feat ure of the pig iron markets is the rush to cover for next year. The movement has accelerated rather than slaekened In the past two weeks. It is doubtful if in the past history of the trade, the first half of August ever saw as large a tonnage sales have not exceeded any previous two weeks in the history of the country. Usually orders are placed for deliveries from two to six months ahead. This buying movement Is unique in the fact that deliveries commence four to six ,oopfbc obaod opd r,,y, farxyard
 There is but one explanation of this unprecedented buying. It means that, in the opinion of manufacturers throughout the United States, the business of 1903 is assured. The rate of buying also indi- cates that the volume Is expected to be even greater than in 1902. The anxiety to get in contracts for material, at prices that by many are deemed too high, shows also that consumers expect the ex- cess of demand over supply will go on for at least a year yet.
 It should be noted that this forward buying movement Is absolutely free from influence by furnace interests. In Ger many, two years ago. syndicates required melters to make engagements fully a year ahead, under pain of having supply cut off. In America competition Is who'll ly free and unrestricted. The consolida- tion movement has not reached the mer- chant furnace of the country, and even working arrangements between them are seldom attempted The claim sometimes heard that the trusts are forcing up prices,' does not apply to
 pig iron.