The Birmingham age-herald., 1903-10-03
Two Long Sessions Were Held
 Here Yesterday ANOTHER SESSION TODAY
The Feeling Is Strong In Favor of Re- ducing Output In Lieu of Cutting the Price-Harmonio
 Discussion.

met in the office of President Don H Bacon of the Tennessee Coal, Iron and Railroad company for the purpose of con sidering the iron situation. but ad- iourned over until today without taking action.
 There were two long sessions, and while the discussions touching the questions Of production and price schedule are said to have been spirited, the utmost good feeling prevailed. The attendance was large and representative. Beside Pres dent Bacon and Sales agent r. A. Burr of the Tennessee com pany President J. c. Maben of the Sloss- Sheffield, President A. W. Thompson and Vice President Hassinger of the Repub lie, nearly every furnace company in the southern territory was represented by ex- ecutive officials and others.
 After the morning session the following statement was given out:
 Official Statement.
 "At a meeting held today of majority of the southern pig iron producers 1t was suggested that in view of the present over production the output of pig iron in the southern district be reduced approxi- mately 25 per cent of their present respee- tive capacities during the quarter ending December 31, 1903, by the voluntary action of the producers A committee was ap- pointed to see furnace interests not in attendance at the meeting and to report at meeting to be held at an early date"
 For week or. two up to yesterday there had been strong talk In some quarters of cut in price, but it seems probable now that no change in the schedule of quotations win be made.
 From the talk last night in the Hill man lobby it was evident that the feel ing was strong in favor of a reduction of output in lieu of any change in the price list.
 A reduction in product on the part of southern interests, 1t Is pointed out by leading furnace men, will be following the policy of northern interests and will solve the market problem which now pre- sents itself. It is argued that decreased production at a fair profit is better than full production at little or no profit
 With the freight rate reduced and a cur tailment of output, 1t is believed consum- CTS would come into the market and buy future delivery.
 Weekly Circular.
 Rogers, Brown & Co.,. s weekly letter, is- sued from Cincinnati under yesterdays date, says:
 The proposed curtailment of production of pig iron seems to be the principal topic of interest at the present. It is probable that never before in the history of the iron trade has there been such unanimity of feeling among iron producers and will ingness to voluntarily restrict output. It is not designed to take any arbitrary steps that will cause a shortage, but con- sumers and producers alike agree that the general interests of the trade will be im- proved by conservative action at this time There is a strong evidence of the fact that pig iron cost has been reached when the furnace companies begin to shut down. It is believed that prices will soon be steadied. and as soon as this is sure considerable contracts will be placed that have been held back.
 When 1t became known several weeks ago that some of the southern furnace companies were discriminating in favor of eastern consumers to the extent of Sl0O per ton. 1t was generally supposed that if the consumers waited long enough they would get the same concession in central and western territory. It had been reported that this change would be made at the association meeting on the End in- stant but the probable action has been anticipated by some of the parties in the association. and 1t is now thought that buyers of pig iron both east and west are to be treated alike.
 The actual transactions during the past week have been about the same as here- tofore, consisting of numerous small or ders for prompt delivery. The demand for charcoal iron Is probably lighter than for any other kind.