The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1902-09-28
IRON MARKET IS
BECOMING STRONGER
Prices for 1903 on a Basis of
$40 for No. 2
POTS IRON VERY SCARCE
'OTS IRON VERY SCARCE
Large Iron Makers Are Expected to
Resume Selling for 1908 Fall
Delivery BY the Middle
of October.

The iron market shows no signs of
softening On the contrary, it was
stronger In tone last week than it was
the week before.
The sales agent of one OF the large
companies said yesterday that the large
ironmakers that had been out Of the mar
lket for 1903 contracts since the middle of
August would probably resume selling
for 1903 fail delivery by the 10th or 18th
of October. He said he thought the
prices would be on a basis of so for No.
foundry. The selling for the first six
months of 1908 was on q basis of SIT to
SIS for No. g.
Spot iron continues as scarce as ever.
only few carload lots going weekly
from this district. No. brings s25 and
No. 2 $2k
Extracts from Rogers. Brown & Co.'S
circulars of yesterdays date follow:
At Cincinnati.
Cincinnati = Consumption Of pig iron
keeps up on the largest scale the COM
pany has ever known. The demands dur
ing the week have been largely from
consumers who, having contracts out for
pig iron and not being able to get de-
liveries. turn to other sources of supply.
AS there Is very little domestic iron for
sale for the remainder OF the year, and
that little commanding fancy prices. the
foreign brands are very welcome. Quite
a tonnage of Scotch and German irons
has been booked during the week.
There has been considerable activity in
| charcoal irons, both northern and south
ern- Choice Hanging Rock has sold at
s36 cash furnace, and southern car wheel
at S25 cash furnace.
Spot Bessemer experienced a sharp ad-
vance during the week, $2S Valley furnace
being reached.
Jackson County Silveries have been In
request far beyond supply. The per cent
grade has been taken up for this year,
ana $29. 80 is at this writing the price for
spring delivery.
Rolling mill coke forge. notified and
white continue dull and the only grades
at this time not in demand.
In this district there has not been much
buying the past week of foundry iron for
the second quarter of next year. and the
furnaces are well satisfied to have a brief
respite. enabling them to arrange for fu-
ture coke supply and provide as best
they can for the deliveries of iron al
ready sold.
The coke market has been an exceed
ingly excited one, and good foundry
cokes for spot delivery have commanded
fancy prices. There has been a slight
Improvement in transportation in the
Connellsviile district, but supplies from
the Virginias have not increased, as there
was reason to expect the conditions in the
Pocahontas and New River fields Dor
dering on a reign of terror. 1t is to be
hoped that the case has become SO ag-
gravated that a turn for the better will
soon be realized
At Pttsburu.
Pfttsburg-The demand for forward
iron still continues undated and with the
inquiries now in the market we can read
fly see that it is going to be necessary
for a number of furnaces to withdraw
from the market at least for sales run
ming to July 1. 1903. There has been no
sign of relief in the coke situation so far
as prices are concerned, but to the con-
trary figures on coke have been put UP
at an unreasonable rate by producers
having prompt coke to ship. While we
notice no disposition to put up prices of
pig iron, at the same time the general
feeling is that this is likely to be in
affect little further along. Such prompt
iron as can be developed, by prompt iron
we mean iron for delivery in 1902, brings
any reasonable price within a range of
from $500 to $500.
At New York.
New York-It would be positive relief
at this time to note some falling off in
the fresh demand for iron and steel The
strain upon the manufacturing plant of
the country is to severe. 1t is felt more
seriously at the raw material end than at
the finishing end. Although the move
ment in Lake Superior ore is unprece-
dented in magnitude. the best information
Is that unless the season of navigation
is prolonged, the quantity of ore needed
| by the furnaces cannot be got down In
time and some one must suffer shortage
The over-strained coke situation is the
burden of constant complaint in every
part of the country. Carrying facilities
are over-taxed. labor responds in inverse
ideio " IhO ai6sHcy VI ueInauu upon II
and output actually shrinks when 1t
| should be increasing
The inevitable result of this pressure
all along the line is steady and even
rapid enhancement of cost. This is well
enough while prices rule high, but when
the inevitable REIMBURSEMENT comes. suf-
fering will result and it will come first
on labor, which Is already at such a high
point of wages that the produces of Eng
lish and German labor can pay stiff
duties and fair profit TO the manufact-
uerer and be laid down here very close
| 70 he az A mn