The Birmingham age-herald., 1905-10-07
Large Sales for First Quarter
 at SIS
THE TENDENCY UPWARD
Consumers of Southern Iron Are Be- aiming to Cover for First Half of 1906-Septembe Production
 Makes Good Showing.

cidedly upward tendency.
 Small lots for quick delivery have been bringing s13 and even s135O for several days past, but the market did not harden until large sales were made for next years delivery. The Sloss-Sheffield com- pany has sold 44,OoO tons at SIS for No. 2-the bulk of 1t for delivery in the first quarter. There Is very little iron to be had for 1905 delivery. Now that the buy ing movement for 1906 has set in large totals will probably be reported within the next few. days. One or more con- cerns are said to have turned down busi- ness on a SIS basis.
 The advance from s12.50 to SIS coming suddenly the latter part of the week the trade papers will not report the new busi- ness until next week.
 Rogers, Brown & Co.'S Cincinnati cir cular of yesterdays date says;
 Lively trading at advanced figure in all markets has characterized the week. Ad- vances in price of northern and southern iron have taken place, and have been repeated at intervals. A number of fur naces in the north are now out of the market for the balance of this year, and others are holding firm at sl5.5O. Spot iron In all markets is at premium. Many of the furnaces have sales booked which will carry them well into next year, and it appears that present satisfactory con ditions are due to carry some time after January 1, at least. The week has seen no slackening In the demand, and as re- ports indicate no prospect of decrease In consumption, producers and consumers alike are viewing the remainder of the year with much complacency.
 The majority of southern furnaces are out of the market for the balance of this year, and are very reluctant to quote for deliveries during 1906. When such figures are named by them they are 30 cents higher than the market for the last half. It Is hard to note any one feature of special interest, as the entire market condition has been so satisfactory in all lines as to become a star feature as whole. There Is feeling of optimism which seems to be genuine, and certainly the condition for the past two weeks with present business and future pros poets justify it. The advances which have been made in prices have been orderly, and there Is an entire absence Of any thing like a panicky feeling that so often presents itself on similar occasions. As noted heretofore the present buying Is undoubtedly a movement to cover legiti- mate needs, and it is assuring to note that in spite of the heavy purchases re- gently made, there are still a number of buyers who are to come into the mar ket later
 Without question. the reports for Sep tember of production and consumption will show up better than since the early part of the year. Production is now be-
 ing interferred with in all districts on account of the extreme difficulty in ob- taining raw material, due to car short age and hindrances to furnace operation on account of shortage of labor. This lat ter is particularly true of the south. As anticipated the car situation Is assum- ing unusual proportions, and the pros poets for anything like adequate move ment cannot be drawn too darkly. It js greatly to be feared that the situa- ton in this respect during the coming fall and winter will surpass anything of the kind ever known.
 Coke during the week has been of first interest. The tonnage of furnace fuel closed is of large size. The business placed by the various steel companies, aggregatng as 1t does over million tons for delivery during 1906 at from $2.50 to s2e0 establishes a strong base for next year
 Matthew Addy's report follows:
 There is always uncertainty as to how an advance in prices will effect the pig iron market The situation was so strong when the recent advance was made that there really seemed to be no room for doubt regarding the outcome. and matters have turned out the right way. Business during the week has been steady, of satis- factory volume and the higher prices are being paid cheerfully. Sales of iron for prompt shipment have been incon- siderable, as the bulk of the inquiry at the present time Is for delivery over the first quarter of next year. Buyers are very anxious to purchase for much longer deliveries than the furnaces are willing to make. and if the iron mas ters wish to double their present sales, all they would have to do would be to make contracts for the first six months instead of the first three months of 1906.
 The great fact in the situation today is the enormous consumption of pig iron. At the present time the country is using more iron than ever before in It's history. Sixty days ago 1t was thought that prac- tically all of the pig iron that was needed for the balance of the year had been purchased, but In the last thirty days very heavy contracts have been let for prompt shipment, or for shipment over orders have been placed oftentimes by concerns that announced in July and Au- gust that they had bought every ton that they could possibly need for the balance of this year; yet their business has so expanded that instead of having enough iron, or a surplus as some of them thought, they have found themselves short, and have been obliged to purchase for quick delivery. This tremendous use of iron is one of the greatest testimonies possible to the general prosperity of the country. and to it's immense industrial activity.
 The producers are beginning to have serious trouble from lack of cars and the outlook in this respect Is ominous. In the south there is a shortage of labor that Is extremely distressing The north