The Birmingham age-herald., 1903-01-02
IRON TRADE HAS
 \ HOPEFUL LOOK Producing Capacity Will Pro- babIy Expand wa Year ADVANCE IN FRElGHR RATES 1t Is Believed That the Recent Sale of Gray Forge at st4 WassMade
 for Manipulative Purposes.
 Outlook Is Cheerful.

Cleveland, O., January 1.-TAe Iron Trade Review this week says:
 The new year opens with stront condi- tions in the iron trade and sentiment generally optimistic The prospect that producing capacity will expand las the new year advances Is an important fac tor in the attitude of buyers toward fu- ture commitments. At the same time there is no theory but an actual condi- ton behind the pig iron buying that comes up with every week for early needs and the continued scantiness of stocks in the. hands of molters of iron.
 The future of the import trade In pig iron is something with which furnace men have to reckon. English ant Ger man sellers have reason to look upon the American demand as thing toFbe cul- tivated.
 Famine Prices Disappearing.
 As famine prices on this sidefare disap- bearing, leading to the belief that for eign iron can soon be disbensed with, there is disposition on the part of makers abroad to shade (prices to hold their American trade.
 In the central west less is heard of for eign iron, though in Pittsburg sales are still made No. Middlesboro being ob- tained at $20.50 in car load lots, while s19.25 is a possibility on full cargo.
 In the east foreign iron Is likely to hold place for months, being considerably cheaper than domestic brands, and fur mace men are not so sure that the prices made by British and German makers will not have much to do with fixing domes- tic prices throughout the country in the next six months.
 While pig iron markets have not been really active in the past week, there is inquiry and buying enough to indicate a better tone than early December.
 In finished material business has been active enough to affect sentiment all along the line and central and western pig iron prices are rather trmer.
 Birmingham Sales.
 The recently reported sale of 5000 tons of southern gray forge at s14 Birming- ham. seems to have had manipulative purpose. and producers generally are un- willing to sell within $1.50 of that level.
 Freight rates from Virginia furnaces north and west advance 30 cents January 1, and from Alabama and Tennessee fur naces to northern points 10 to 20 cents.
 The steel market shows considerable active inquiry at Pittsburg and 100000 tons are reported under negotiations Prompt Bessemer billets are quoted at S29 to s30 with the range for contracts over the next six months about $1 less A sale of 10000 tons of open hearth billets is reported at $31 .25, Pittsburg.
 Independent sheet and tin plate man. : ufacturers conferred at Pittsburg this week on the situation as affecting their interests. No action was taken in view of the slight representation present and further conference is expected In both sheet and tin plates, particularly the latter. there Is an improved outlook and several idle mills are being started up. No inroad has been made as yet by do- mestic mills into the drawback trade un- der the recent arrangement with the amalgamated association.