The Birmingham age-herald., 1905-05-20
IRON MARKET IS
 EXTREMELY QUIET
Marked Waiting Attitude is Ex-
 hibited All Round
TIE OUTLOOK IS BRIGHT
Pi, Iron and Coke Are Both Moving Very Freely-Manufactu of Finished Product Are Run-
 ming on Full Time.

The pig iron market continues quiet and prices are being shaded, while Bir- mingham is quoted at SIS on a No. 2 foundry basis, few orders have been booked at lower figures. The outlook for an advance with in the next few weeks is bright. Furnace men seem con tident that the price will get back to s1S.50 before July
 Rogers, Brown & Co.'s Cincinnati re- port of yesterdays date says:
 With the exception of good orders placed by the railroads and some medi- um-slzed general business in the east, the week has been quiet. Inquiries and sales are at a minimum and there is a marked waiting attitude exhibited on the part of both buyers and sellers. In the absence of actual transactions, 1t has been pointed out that the present Hull is attributable to each of several diff ferent causes, but viewed broadly it can not be traced to any particular one. A combination of circumstances and senti- ment is responsible for it, and on many sides it is judged to be more of a satis- factory reaction than otherwise
 
 until July, and that the amount of iron contracted for during the last six months is very small, are recognized facts and should result in an increased buying movement in the near future. The exact amount of iron on contracts which will lap over in delivery after the first of July is another item for consideration.
 Contrasted with the quietness in pig iron and coke. the brisk trade in finished products continues. and II heavier lines is remarkable. Mills and shops are run ming full time, with such business ahead as places them in a very comfortable position. There seems to be a ratio be- tween weight in manufactured material and demand for it, which decreases as the weight decreases. No charge is yet evident in the rate of consumption, which is proceeding in most satisfactory man. ner. In the next month or six weeks crop reports will have a large influence in de- termning policy and within that time 1t is expected a marked change will be noted.
 Pig iron and coke are both moving freely, the latter better than at any time since the first of the year, although the recent storms of unusual severity have had their effect in some quarters. 1 Matthew Addy & Co.'S report for the week ending today says:
 | It is quite evident that consumers are
 coming nearer and nearer to the time
 when they must go into the market for fresh supplies of pig iron. The increase in
 inquiry demonstrates this. There are at the present time great many consumers of 1 pig iron who are feeling the market They are posting themselves on current ] conditions. Only a very inconsiderable amount of iron was sold for delivery over | the second half of the year. when the big | buying movement occurred in the late winter. Some consumers may have a lit- | tie in stock to carry them along for a | short time, but the great bulk must buy 1 presently or shut down.
 | During the week there have been no | significant transactions in pig iron There | has been buying right along, mainly of l a small retail nature. All the buying that has been done has been on the basis l of $13 f. O. b. Birmingham for No foundry and nearly all purchases are for nearby shipment.
 Coke just now is decidedly more active
 than pig iron. Contracts not only for
 prompt shipment but for shipment over
 the last half of the year are being free ly made.