The age-herald., 1902-05-12
IRON MARKET IS WITHOUT FEATURES Some Sales Made at S1750
 and S17 THE PRICE WILL GO HIGHER Consumers Who Cannot Get Ship ments On Previous Orders Are
 Obliged to Again Enter
 the Market
THE PRICE WILL GO HIGHER

The local iron market was without special features last week, A few sales of No. l foundry were made at s17.5O and No. at SIT. Some of the ironmakers outside of the large corporations predict even higher prices before the end of May.
 Extracts from Rogers, Brown & Co.'S circular of Saturdays date follow:
 Two Classes of Buyers.
 Birmingham.-There appeared to be two classes of buyers in the market dur ing the week: First. those consumers who had not covered for their wants; and second those who had covered, but were unable to get shipments on their orders and were therefore compelled to again enter the market. Both classes seemed to be particularly short on iron for im- mediate shipment but were interested as we'll in extended deliveries. passing their calculations on an increased melt, having enlarged their foundries and taken additional contracts.
 The coke situation is not improved, and some furnaces are paying delivered price of s4.5O to $475 per ton for furnace coke. while foundry coke is bringing s500 per ton.
 Cincinnati-A heavy demand for engines and other high grade castings has caus- ed foundrymen to take decided interest again in charcoal iron. A few years ago 1t was supposed that the prestige of iron made with charcoal as fuel was rap Idly passing away, but it seems to be re- gaining favor and there Is a great scar city of It. The Lake Superior charcoal furnaces are so far sold ahead that 1t is almost impossible to place any orders for early delivery. and the old furnaces In the Hanging Rock district are now be- fng turned to for a supply. Their output Is so limited that very little relief can be expected from that direction, and they have advanced prices from BPS to s30 per ton f. o. b. furnaces
 The principal Southern charcoal fur naces are sold ahead for the entire year. It will probably be necessary for foun dries to use Bessemer or low phosphorus coke brands as a substitute for charcoal, but these are also hard to find
 Fair Run of Orders.
 During the past week there has been fair run of orders and a number of in- quiries for delivery well into 19O3 There Is no let up in the rate of consumption. but on the contrary large concerns state that they are melting more than they expected and are trying to get deliveries on existing contracts anticipated.
 Should the anthracite miners strike, there will be iron famine in the East, for the furnaces there are carrying prac- tically no stocks and the yards of con sumers are mostly bare.
 It is thought by some that the furnace workers to the West are realizing that it will be impracticable for the furnaces to put on three shifts of eight hours each and that they will not make such a demand on June l. It will be very un- fortunate if they do strike, for the fur naCes will undoubtedly all be forced to bank for an indefinite period and 1t will cause general shutting down of foun- dries and mills who depend on Ohio and Pennsylvania iron.
 In regard to prices, each furnace Is practically a law unto itself, being gov erned by the condition of the order books. It has been stated that Southern No. 3 foundry has been offered during the week as low as s15.00, cash Birmingham basis, but the prices generally range from $15.5O to $16.0O.
 Unequaled in History.
 Philadelpha.-Never in the history of this country has any buying movement set in that equals the present one With the incoming tide, ships from abroad drop anchor In the Delaware and discharge cargoes of billet and pig iron. Lighters and floats are taxed to their utmost ca pacity to handle this metal. and a visit to the works of parties who are to use the goods shows light stocks of raw ma terial on hand with overfilled order books for finished material A few days ago fourteen furnaces, twelve active showed total stock on hand of about 150O tons with orders to execute amounting to over 400 tons. These conditions are no doubt general and apply to all iron pro- ducing districts.
 New York--A fact in the iron situation that deserves noting Is the disappearance of the skeptic. He was largely in eyi- dence earlier in the year both among consumers and producers. The "crest of the wave" was a common expression Now that we are on a still higher crest the talk Is generally of settled conditions and a clear horizon. Certain it is that the fresh current demand in both raw and finished forms is fully equal to cur rent production, leaving undiminished the mass of orders which manufacturers have their books and on which most are delinquent. -
 How much pending labor troubles will disturb the situation, no one can tell. The demand of Western furnacemen for an eight-hour instead of a twelve-hour shift, without change of wages. would, if con- ceded, add 50 per cent to labor cost But more important still, 1t would create an immediate shortage of one-third of the skilled labor needed, which shortage could not be supplied.
 Any severe labor contest that would curtail the supply of raw materials at this time would have damaging effect upon the whole fabric of national pros- perity. It Is so much to be deplored from the standpoint o1 both the employer and employed that the public assumes that neither side will permit controversies to go too far. This assumes wise leader ship on both sides which unfortunately, does not always show itself. ...- Chicago-The inquiry for ready delivery iron keeps up and prices are firm and higher if anything Inquiries and sales for the last half and the last quarter of the year are also of considerable maani- tude and full prices are being obtained
 Coke Is more plentiful and prices some- what easier.