The Birmingham age-herald., 1903-02-01
WAITING MARKET
 BUT TONE FIRM Inquiries for Iron Still Coming for Latter Part of Year LARGE CONTRACTS PENDING Owing to Scarcity of Cars Pig Metal Is Accommodating at Ohio River
 crossines-No Decided De
 cline Is Expected.
LARGE CONTRACTS PENDING

The pig iron market continues firm, but it is said to be still in a waiting position. Inquiries are being made for the latter part of the year and many orders have been booked for next fall delivery, but free selling for the period beyond July will not set perhaps before next month. Extracts from Rogers, Brown Ss Go. s circular of yesterdays date follow:
 From Cincinnati.
 Cincinnati-There has been more ac- tivity in the central district during the past week, and quite number of good- sized deals are pending. As. the year grows older the impression gains ground that no decided decrease in prices can be looked for, and there Is a disposition to cover requirements. Most of the transactions comprise deliveries during the first half but there are occasional feelers for later delivery. Prices are firm, but furnaces in eastern Ohio and Pittsburg districts are making quotations on foundry grades at delivered prices much lower than warrant figures on southern brands. The tendency of con- sumers, in those sections is to make up their mixtures more largely than usual of northern iron.
 A distressing condition exists so far as movement of raw material Is concerned. There are hundreds of car loads of pig iron on the ground at Ohio river cross ings, waiting for cars from northern lines. Embargoes have been placed on shipments of pig iorn and coke, and furnaces and foundres are suffering alike. In spite of the favorable weather no relief is promised by railroad offficials and it Is certain that if February brings the usual amount of snow and sleet there will be still further endorsements.
 From New York.
 New York.-The real test of the atti- tude of the country towards the higher level of prices is now on While the mar ket has been at its present range, or even higher for the past six months, the great body of consumers have been getting their material on old contracts at prices much below the market. As these con tracts expire and are renewed, current prices must be paid.
 Remembering past history, experienced observers of the market have awaited with some concern to see whether the final consumer would check his buying when he was really up to full market figures. It is well remembered that he did this in the spring of 1900. If he were to do 1t now the hopes of those who are looking for much lower figures would soon De realized.
 It is quite true that buying for weeks past has been on limited scale. Since November current orders have not ex- ceeded one-third of current consumption The most careful inquiry, however, fails to reveal any evidence of falling off in business among the consumers. The actu- al melt of iron is b to 20 per cent greater than it was a year ago and there is not the slightest evidence that it is going to decline in the near future.
 If it does not decline then the history of 1903 is likely to be a repetition of 1902 It is doubtful If the productive capacity of the country, increased as it is. will be equal to the consumptve demands. Large consumers, who have been skeptics of the market position, begin to appreciate this, and at the close of the week some heavy inquiries are before the furnaces. In few instances prices are asked for deliveries the last half of the year.