The Birmingham age-herald., 1905-08-10
IRON MARKET HAS UPWARD TENDENCY Demand for the High Grades
 is Very Brisk OUTPUT TO BE INCREASED The Total Production in Alabama This Year Will Probably Reach 100000
 Tons-Large Industries Are
 Soon to Locate Here.

The local iron market is firm at SIP for No. foundry with an upward tendency. | High grades are scarce and the demand
 for No. 1 and No. foundry and No. soft, is exceptionally brisk Sales for these over quotations.
 The Tennessee company is repairing the
 stoves in Nos. 1 and ? furnaces at Besse-
 mer and these furnaces will go in blast
 before the end of August. The Tennessee l Oxmoor stack will also be lighted soon. | One of the Ensey furnaces is out Tor | repairs but the new furnace makes more l iron than any two of the old furnaces. | Iron production in the Birmingham dis
 trict will be larger during the coming
 fall than in any period of the past twelve
 months. It is estimated that Alabama s output will reach about 100000 tons in
 the present year.
 1 The Tennessee's steel rail mill is making
 a good record this summer dispite the
 excessively hot weather.
 The American Cast Iron Pipe and Foun- l dry company of which E. E. Linthicum is
 general manager, has not yet secured a site, but 1t has been definitely settled that | the company will build in Jefferson
 county. Ground will be broken for their plant within the next few weeks. The l company will start with a melting ca- | pacity of about 150 tons a day and will l expand it's works from time to time. | The executive committee of the Amer
 ican Car and Foundry company will meet | in St. Louis this month and consider | the question of building large plant in
 the Birmingham district. M. F. Duncan,
 a representatives of the company, visited
 Birmingham week before last for the pur- 1 pose of looking over the sites. He will
 make his report to the executive com
 mittee and it is believed that action fay | orable to locating a plant in Jefferson
 county will be taken. MT. Duncan exam
 ined sites near North Birmingham, Besse- mer and Ensley
 A Chicago special to the St. Louis
 Globe Democrat. of August 8, says: Re
 ports that the southern iron merger aban-
 doned after some pyrotechnical displays
 in the stock markets last April, has been
 reopened, and is in a fair way to being
 consummated, were in circulation in Chi
 cago and New York today in the iron
 trade. as we'll as among bankers and in speculative quarters.
 Accompanying the reports there was a l sharp advance in the securities of the
 principal companies involved. Republic Iron and Steel advanced l for the com
 mon and 24 for the preferred. Sloss | Sheffield Steel and Iron ran up 414 to | 93I4, and Tennessee Coal and Iron gain- ed 1ss to 1s4.
 Prominent Chicago interests in the Re- where they are supposed to be in con- ference with representatives of the Sloss. | Tennessee and Republic companies, as | well as the owiers of some of the other properties, including Alabama Consoi- dated and the Sheffield Steel and Wire company.
 "In addition to the reports of a renewal of merger negotiations, there was also a repetition of the former report that the controlling interests in the Republic Iron and Steel company are about to announce a plan for paying off the 12 per cent of accrued dividends on the preferred stock and resuming regular dividend payments on the preferred issue. It is understood there will be no payment before October, | but a meeting at which the dividend will | be declared is to be held in New York ] in the near future"
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