The Birmingham age-herald., 1905-11-11
P|G IRON MARKET VERY STRONG AND
 PRICE ADVANCING Small Lots Sell at S14.50 and S15, But S14 Accept
 ed Quotation
PRODUCTION IN OCTOBER
 MADE A GREAT RECORD
Largest Months Output of Pig Iron In History of the Trade-Much Trouble Over the Short
 Coke Supply.

The Birmingham iron market was with out feature yesterday. Prices are upward in their tendency but the regular quota ton is still at s14 on a No. ? basis. Small lots have been sold this week for $145O and one concern reported a sale at s15.
 Rogers, Brown & Co.'S Cincinnati report of yesterdays date says:
 Iron and steel are the leaders in trade conditions of almost unprecedented activ- fly
 Strength and free buying continue to characterize the pig iron market in all Its branches.
 That the recent remarkable business in iron and allied products was founded, and is proceeding on the firmest possible basis, becomes more evident daily. Trad ing, large in the aggregate, is only limit ed by the ability of furnaces to meet buyers views regarding extended delivery. The immense tonnage recently booked and the impossibility of operators figuring cost for next year, make it doubly diff ficult for them to offer for as long period ahead as buyers generally wish.
 Leading buying interests in all parts of the country are re-entering the market and the tonnage now under consideration Is extremely large, considering the amoent of iron sold the past two months.
 Southern iron is strong at s14 Birming- ham and foundry grades hard to secure. Sales have been made at $l4.50 Birmug- ham for No. ?.
 Northern foundry iron has advanced, as well as Bessemer and basic. Late heavy purchases of the latter have clea T. ed up the market and sellers ideas are high accordingly. The local situation is but a reflection of the country generally. Inquiries and sales are good, with a large tonnage under offer Orders and requests for spot shipment are still very numerous. Two features are of especial interest at this time as indicating general welfare The countrys bank clearings for October surpassed the previous month, as well as any October total in the countrys history. They fell only a trifie short of March, 1905, which reached the largest months total ever recorded. Tha- this is the true index of the industrial situ atjon is best shown by the fact that the total outside of New York city has never before been equaled. Commercial failures for October were a third less than last year. and make the best showing on record for low average of indebtedness. So far during November there has been absolutely no let up to the business nlaced in the heavier lines of finished ma terial It is estimated that contracts Tor 10000 tons of structural steel have been closed with from 60,000 to 7O,O0O still pend ing. So far the month has also seen about s50O0 tons additional rail orders placed on top of previous enormous purchases
 Coke is strong, with the views of oper- ntors advancing and 1t Is only matter of short time before further incTaase in prices will be registered
 The transportation situation is desper- ate and will probably so continue. snip pers of both coke and iron are much exer- cised over the condition and especially on account of the arbitrary ruling of certain roads which will not permit equipment to leave their tracks.
 Matthew, Addy & Co.'s Cincinnati report for the week ending today follows:
 It has been another big week in pig iron. More than one pig iron record has been made of late. Last month there was the greatest production of pig iron that x the United States has ever known. Un- doubtedly this was matched by an un- paralleled rate of consumption. The other record that has been broken is that of pre- vious buying movements. There has been now since the middle of July buying on a very large scale. Day by day the pur- chasing has gone on and the tonnage of iron that has been bought exceeds in the aggregate tonnage anything that the country has known before. The most re- markable thing about it is that the end is not yet in sight. However, there is