The Birmingham age-herald., 1903-01-11
MARKET QUIET BUT AS FIRM AS EVER Iron Prices Show No Sign of
 Early Softening INQUIRY FOR PIG Discrepancy Between the Prices of Domestic and Imported iron On
 Eastern Seaboard Is Caus-
 ing No Little Discussion.
INQUIRY FOR PIG

While the iron market has been some what quiet since the holidays. as was expected, it has been as strong as ever. There Is no sign of any softening Of prices. The most optimistic iron manu- facturers could not have predicted bet ter condition in the iron trade than now exists The bulk of the iron made in this district for the first half of the current year has been sold and inquiries for the last half indicate that free selling for that period will begin very soon.
 Sales of pig metal for delivery between now and July are being made on s2O basis for sNo. foundry Gray forge brings $17.5Oq1S.
 Rogers, Brown & Co.'S circular of yes- terday's date contains the following re- marks:
 From Cincinnati.
 Cincinnati-The tonnage of new orders booked during the past week has not been large, but reports from salesmen show that there is no falling off in the consumption of iron. The demand for shipments on past due orders continues urgent. Buyers have been disposed for weeks past to wait until after January l, thinking that for some reason or other prices would be lower after the begin ming of the year. The expectations have been realized so far as spot iron is con- cerned, and it is a good thing for the market that the excessive difference in price between early and scatt cred deliv- cry no longer exists. There is still con- siderable irregularity in quotations. Fur naces having very little to offer. in some instances, are quoting at s2 per ton above quotations made by others.
 The market Is being tested by a few of the large buyers on round lots, and it Is supposed that the range of prices made by different producers will soon be known. The lots of grey forge iron for quick de- livery that have been depressing the market have evidently disappeared, and quotations are now coming back more nearly in line with the foundry grades The discrepancy, however, is greater than formally.
 From New York.
 New Yorl2The first week in the new year has been quiet one in iron circles, as was expected Furnaces do not look Tor much buying on large scale for a month yet Consumers are getting iron more freely on old contracts and much prefer to use up the low-prieed material oefore making engagements at higher figures. Market prices are unchanged
 
 ton in the different markets of the coun- try, the average being nearer S22 The re- ports from melters show that new work is coming in at an undiminished rate
 The discrepancy between the prices of domestic and imported irons along the eastern seaboard is a matter of no little discussion among furnace men. There is little dissent to the proposition that home prices should be dropped at the earliest possible moment to a point that will shut out the foreign irons Two difficulties however, stand in the way. First the home furnaces have very little iron which they can sell between now and July and, for that little they feel entitled to the ruling price to help the average against low priced contracts still running. A very weighty reason Is the heavy advance fin cost of production experienced by the merchant furnaces. This grows largely out of the remarkable fuel situation Commencing with the new year the monthly coke bills of most of the fur naces will be almost exactly double those of corresponding months year ago. and this for the same tonnage. Labor Is ur from l5 to 30 per cent; transportation of raw materials and finished products Is also generally higher
 We have actually come to the point where the foreigners can pay s4 per ton duty and lay No. 3 Middlesborough pig iron in Philadelphia lower than the Amer ican furnaces can meet, without loss. It Is needless to say this is situation which gives conservative manufac turers some concern.