The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1905-09-09
IRON MARKET WILL
PROBABLY ADVANCE
Strong at $12 But Sl3 Iron
Is Expected
TRADE IN FINE CONDITION
Demand for Coke Largely Increased.
Activity Due to Picking Up of
Fall Business and Diff
ficulty In Shipping.
TRADE IN FINE CONDITION

-~ue birmingham iron market remains
strong at $12 for No. q While this week
sales have not been large inquiries have
haen plentiful. and it is believed that
big buying will be In evidence soon. 1t 10
thought that Iron will advance to $1S.
Rogers, Brown s. Co.'s Cincinnati report
of Yesterdays date follows:
Improvement is the order of the day,
with prospects growing better. The first
nf the month was of interest on account
of the purchase of Bessemer iron by the
Steel corporation. The size of the pur-
chase not as large as some anticipated
was offset by the prices, which are
claimed to have been paid, and which will
give tone to the entire range of iron
figures. Although this iron was bought
for September delivery only, 1t is under-
stood that 1t will be followed very short
" by another purchase for October deliV-
cry, and probably at a higher figure tnan
the September business. That the cor
poration is buying and figuring on addi-
tionaI iron at the same time with over
g. per cent of their furnaces in blast
is significant.
The week has been noticeable, princi-
Daily LOT InS RODu DublntSS WhASA AAeAS
been placed, and for the efforts being
continually made to obtain prices for ex-
tended delivery during 1906. As yet the
furnace companies are very reluctant to
do this much beyond the first quarter, and
premiums are in order. The decision to
maintain the price of steel rails for 1906
at $2S per ton, has been published AT
the same time large purchases of this ma
terial for 1906 have been made, one large
western manufacturer being practically
filled with orders to July / of next year.
The market has also seen an advance
in the price of structural material, which
places It at a point higher than at any
time since 1901. Reports from all quar-
tiers Indicate efforts on the part of
great number of concerns to increase
their producing capacity, and with many
of them this increase will be in evidence
next year.
Prices on both northern and southern
pig iron are strong without change. and
as there did not seem to be any chance
for an increase of furnace stocks In the
south during August with southern pro-
duction heavy and material moving fast
er than 1t is produced. they should con-
tinue firm.
Coke is active. due to the usual picking
up of fall trade and the increased diff
ficulty in moving the product on account
of scarcity of railroad equipment num-
Der of orders for both furnace and lfoun-
dry product have been closed, and prices
are firm without change, but with an adj
vancing tendency Some interests have
he rot
for delivery next year. and are waiting
with the evident expectation that prices
will advance in the near future.
Matthew, Addy & Co.'s report for the
week ending today says
It is pleasant to chronicle such a week
as the present. Everything has been just
right. The man in the pig iron business
who is not satisfied now certainly must
be hard to please. Or course sellers
would be better pleased If prices were
higher, and it looks as IL probably they
would be better pleased before great
while. This week has seen a continuation
of the free buying that began a fortnight
since. The purchasing, however, has been
on a wider and broader scale. This buy
ing movement is not lopsded In that no
one particular kind of iron has had the
preference. General business is so good
in every direction that the call for iron
seems to come from every branch of the
trade, and the mills, as well as the highly
specialized foundries, together with all
the industries between these two extremes
of the trade, have been purchasing for
large and small lots.
The most particular feature of the pres
ent business is the buying of heavy lots
by very large consumers for as far ahead
delivery as can be obtained. Most sellers
are unwilling to go beyond the first
quarter of next year, although In some
cases delivery through the first half of
next year has been made.
Prices are firm on the basis of $12 Bir-
mingham. There has been no change in
this quotation for some time, although
of course the situation of the furnaces
has been very decidedly improved and
they are in very much better position to
ask for and obtain an advance than was
the case a little while ago.
There is already a shortage of coke,
and the demand for coke is largely in
creased without any doubt at all when
the bad weather comes there will be
trouble in getting enough coke to sup
ply the country's needs. and the con-
sumner who can accumulate a store at
the present time is wise.