The Birmingham age-herald., 1903-04-20
NO IRON SALES FOR
 THE SECOND HALF
TRADING IS CONFINED TO SPOT LOTS AND EARLY DELIVERY. MARKETS SEEM TO SHOW A WEAKER FEELING.

The last issue of the Iron Age says:
 Surface indications are adverse in the foundry iron markets of the country. and there is a weaker feeling. Sales are largely confined to spot lots and to early delivery, only little being done for the second half. It must be noted, however, that the volume of these transactions is large, considering the circumstances. The cardinal fact remains that the consump tion continues on a very large scale, and that our increasing production will be compensated for to considerable extent by the cutting off of imports.
 Our prices for domestcf iron now have reached a figure where it is unproftable to import foreign iron for distribution in small lots, or to ship larger blocks any distance into the interior It is likely too, that American furnacemen will in the future meet foreign prices, whatever they may be, on large transactions in coast markets. How far European makers will go to retain their temporary outlet here remains to be seen
 III AAN NNilNA el Ht9b lll6 SlludllOi IS somewhat peculiar Practically the whole foundry industry covered for the first half of this year late in lsJ2, and rela- lively few of the founders have taken care of their requirements for the second half, the belief having been almost uni versal that better terms could be made by waiting This course the events have ic at what range of values the large con sumers will take hold. The fact that leading southern makers have openly es- tablished price of s1 per ton lower for eastern business than for sales to con sumers west of Pittsburg, while not an unprecedented course, does not impress consumers favorably- They argue that they are entitled to as low price as is made in other sections of the country, and will probably wait until they are satisfied that they are not being dlscrim- hated against.
 The steel situation is peculiar in that 1t almost looks as though our reducing capacity, enormous though it be- is made quate. It is understood that the pressure
 
 est Is such that some of the plants are facing the alternative of switching off from steel rail manufacture to the rolling of bilets. The pressure for deliveries of finished material as the spring trade opens and as outdoor construction work becomes general, naturally puts excep- tional pressure upon all the plants, and this condition may only last for the next few months, but it Is an eloquent proof of the current consumption.
 Although a little more billet producing capacity is in sight from eastern steel works, the opportunities for importing foreign steel continue and some round sales have been made of slabs billets and sheet bars.
 The structural trade is somewhat hamp- cred by labor troubles, but a very large tonnage Is in sight. Thus leading firm of Chicago architects are completing plans for buildings which will require from 45,- GOO to 50,000 tons of material, these includ- ing two Wanamaker buildings in New York and Philadelphia. There are some large bridges coming out. including one over the Potomac and another near Bos- ton, while Chicago reports inquiries for 15.OOO tons of bridge work.
 The bar trade is rather quiet. The western makers of steel bars have reaf- firmed prices, as have also the manufac- turers of shafting.