The Birmingham age-herald., 1905-12-09
STEADY BUSINESS
 IN IRON MARKET No Excitement But Good
 Volume of Trade CAR SITUATION SERIOUS No Cessation In Urgency of Buyers Demands for Quick Delivery-Great
 Tonnage of Pig Is Be-
 ing Melted.

The Birmingham iron market remains firm at s145o on No. foundry, basis.
 Rogers. Brown & Co.'S Cincinnati report of yesterdays date follows:
 Fortunately for all concerned, the pig iron trade has settled down into an easy stride of good volume. The market has not seen any specially large lots of tonnage placed. but it is a steady transacting of good business which marks the most sat- isfactory condition. With practically all the output of furnaces sold for the first few months of 1906. there is little effort being made to increase sales for first half delivery. What tonnage remains available will be more than cared for as spots hipment when the proper time comes. Prices continue strong and the outlook is extremely favorable for their remaining so. The majority of producers are still out of the market and the ready sale which to be had for small lots of slightly off material offered from time to time shows that there is an eager market
 for any class of iron which can be util- ized.
 Although the remarkable pace of pro- duction in this country has been com mented upon from time to time In these reports, it is doubtful whether the ma
 jority of readers have an adequate idea
 of the tremendous volume of business which has been accomplished during the present year. Statistics recently com- piled show this most forcibly. Among
 the leading resources of the country the largest per cent of increase over the previous year was reached in the lake shipments of iron ore. this being 51 per cent in advance of 1904. The next largest was that of S9 per cent in the production of pig iron. This was figured on basis of 23 100000 for 1905, against 16,457,OO0 for 1904 That this remarkable production
 could have been made and practically all absorbed with the years exit showing prices at the present level, Is one to excite comment These two records are way ahead of any of the other of our re- sources, the nearest to them being the increase in bank clearings of about 33 per cent.
 There is no let up in the urgency of
 buyers demands for quick shipment of iron on contracts. The large consumers.
 as well as the general foundry trade, all
 seem to be melting more iron than had been figured on and are pushing accord ingly. Charcoal iron, the higher grades of southern foundry iron and specialties are scarce.
 The car situation is still serious and now it becomes only question as to how long it will be before adverse wealth CT conditions make 1t worse than at any
 time heretofore.
 Coke continues in excellent demand and the prices are strong. There are still a number of contracts for first half and years requirements for 1906 pend- ing. and the volume of business con-
 tinues good.
 Matthew Addy and company's Cincin- natl report for the week of December
 to 9, says:
 As yet the approaching winter has had no effect on the iron trade. So far the weather has been perfect and has been rather helpful than otherwise, ex- cept for too much rain in the south for open air ore operations. The volume of trade is tremendous. Furnaces are ship hing to the limit of their capacity and consumers are using iron as rapidly as | if is received. The latter, while they have bought heavily, are not accumulat- | ing iron. Of course some far-sighted foun- | drymen have been able to pile enough iron to feel easy no matter what happens in | the future, but they are decidedly the | exception rather than the rule. | The troublesome times as regards the shipping of coke have been postponed. | That is, the railroads have been able 1 to furnish more cars than were antic- ipated and shipments have been heavier than at this time last year. But in the | Wise county, Virginia, and West Virginia | districts, there Is a car shortage that
 f., almost paralyzing to regular coke oper- ations. And the worst of it Is that the
 first genuine winter storm will make mat [ ters much worse.
 Actual buying during the week has
 been small Users of pig iron have been
 buving for five months and they are now taking a rest. Prices are firm. Coke buying has, however. been of large dimensions The furnaces have been heavy purchasers and practically all their contracts are for shipment over the first half of next year.