The Birmingham age-herald., 1903-01-18
TONE IN
 P|G IRON MARKET Stifening Tendency is Reported
 In New York SCARCITY OF GREY FORGE Companies With Only Small Amount to Sell for Next Six Months Refuse Less Than $2o Birming-
 ham Basis.
SCARCITY OF GREY FORGE

While the tone of the iron market re- mains firm there has been comparatively little selling for next fall delivering. In 1 quiries indicate, however, that the large 1 concerns will soon be in the market for the last half of the year.
 Rogers, Brown & Co.'S circular of yes- terday's date contains the following
 Cincinnati-There has been more activ- 1 ity in the pig iron market during the past week. The orders Tor southern iron have apparently been placed with hrn- ited number of producers who have been willing to name prices lower than the views of the more conservative. Several furnaces who have only small amount to sell during the first six months, are refusing to accept less than $2O Birmng- ham basis, for No. foundry, feeling confident that consumption will continue at a rate that will more than absorb all the iron that can be made until after the middle of the year. others believe that prices should be fixed at from $1S.5O to $19 while a part of the business closed during the week shows that some pro- ducers at least are willing to accept SIS .00 Birmingham.
 There have been inquiries for round lots of grey forge, but there is dearth of that grade for immediate delivery.
 In northern irons the situation is un- changed On hat little Is obtainable for early delivery the prices are firm.
 In the central and western territory practically nothing has been done on foreign iron In the way of new contracts.
 The coke situation mas not been re- lieved It is really m ore stringent than that of pig iron. Furnaces and foun41 ies alike are unable to get proper deliveries on their contracts, and tiere is no pros pect of early betterme 1t.
 From New York.
 New York-Nhatever uncertainty ex r isted in December as to the real strength of the market has disappeared, before January is half over Instead of taking a downward turn. as the great majority of consumers confidently looked Tor with the advent of 1903, prices show stinening tendency. This, in spite of the fact that buying has been practically suspended for over two months and is still on a scale not exceeding 25 per cent of the actual melt that is going on. It is, Of course due to the fact that the furnac 1cs in all districts are practically sold Tor the IrSt naU Ol lHe gtdi anu ii'b Nie- posed to make concessions on their small unsold remnant.
 As soon as this state of facts comes to be known and believed, there will be an- other rush of the buyers to cover for needs which have been deferred to the last moment in the expectation of getting ! lower figures It would perhaps be a different story if the furnaces of the Uni ted States generally were able to put out their maximum product They are still restricted in most sections by one cause or another principally shortage of fuel.
 It follows from the above that importa- ton of foreign iron must continue for some time to come Evidence of this. find ing expression in heavier cable inquiries, has somewhat stiffened the markets in Germany and Great Britain.
 From Chicago.
 Chica go-The quietude reported last week is still a prominent feature of this market. It is quite possible that some of the purchases made last year were in excess of requirements TOT the purpose of securing necessary supply, and buyers are. now a little easier.
 There is no falling off in consumption that can be definitely located. and it is not likely shipments from furnaces are increasing, as rolling stock is quite scarce, especially in the south
 The majority of sales made for both northern and southern irons have been small and for early delivery. There has been quite a little buying of standard Bessemcr to take the place of malleable bessemer. but the lots have all been small and for prompt delivery