The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1905-07-22
PIG IRON IS NOW
UP TO S12 A TON
Market Very Active for Ten
Days Past
LARGE CONTRACTS BOOKED
Past Week the Most Satisfactory In
Months-The Iron Tonnage Has
Been Well DISTINGUISHES.
BILE Market Very Active.
LARGE CONTRACTS BOOKED

The Birmingham iron market is now
firm at $12 on a No. basis The buying
movement which sarted early in July
and which became unusually brisk week
ago, has resulted in the booking of large
contracts. Within the past ten days or two
weeks something like 10000 tons OF Bir-
mingham pig metal have been sold. The
price was marked up to s12 day before
yesterday and 1t is said that no manu-
facturer is offering to shade that quota
ton. Shipments on a big scale will be-
gin before the end of the month.
Rogers, Brown & Co.'S Cincinnati re-
port of yesterdays date follows:
The improved condition noted a week
ago has developed into an excellent buy
Ing movement. The psychological moment
was recognized by a large number of
buyers, with the result that there have
been larger and better sales, for more ex-
tended delivery. than at any time with
In the past four months
There Is an under current of earnest
ness about inquiries and a feeling In con-
nection with them that can only promise
well. Advances haze been effected and
the market Is established on basis of $11. so
Birmingham. The market had simply
reached the point where the effect of fur
Their pounding down of prices was not
apparent and buyers judged that it had
reached Its minimum. AS the second half
was well started with the fewest pos
sible number of contracts closed, 1t was
natural that when the turn came 1t should
q nf no rr 10 10
to say whether the present furry is one
which will develop into a steady stride of
satisfactory business, such as has been
predicted for the last half. or whether 1t
will resolve itself into only a -nomentary
activity. Indications on all sides. and
the opinion of those best fitted TO Judge,
point to its being the starting off of the
last half years excellent record.
In the matter of records 1t is interest
ing to note in one line the tremendous
Increase which has been registered over
previous years. Construction and building
operations of all kinds in this country
are proceeding now at rate never here
tofore so generally maintained. This con-
struction, of course. enters largely into
all calculations referring to iron and
steel. General building in twenty-seven
CT the principal cities for the first six
months shows an increase of practically
20 per cent in value Of buildings erected
over the corresponding period a year
ago. This covered about 5000 buildings.
During the same period permits were is
sued in these cities for the construction
of over $1,000 buildings, as against sS.Uvo
last year. This Is p most remarkable
showing, and as 1t embraces only TWEEN
ty-seven cities should impress all with
the greatness of the building industry
now going on. There is no falling of in
this branch of activity. and the increase
is only limited by inability of contrac-
tors to obtain sufficient material.
Coke. which for the past few weeks has
been going entirely independent of the
then weak pig iron market, has felt the
influence Of pig iron Improvement, and
has been in good demand. with prices
steady. Doubtless the recent extreme heat
In the central and eastern portions will
serve to interfere somewhat with pro-
duction. Virginia coke continues to move
in good quantities into the Birmingham
district; late evidence of the labor diff
cculties there over year ago.
Matthew Addy and company's pig iron
report for the week ending today. Gays:
The past week has been the most sat-
isfactory one In pig iron for many months.
A large tonnage of iron has been placed
and the business has been well distribute
ed The buying has not been confined to
any particular kind of iron OF any class
of purchasers. but has been general and
extremely satisfactory in every way. In
from big consumers and from small AL
though large part of the orders are for
shipment over the present quarter. many
are now covering their wants for the