The Birmingham age-herald., 1905-10-28
IRON CONSUME T|0N
 UNPRECEDENTED Market is Firmly Established
 at S14 Basis LOCAL SITUATION QUIET Remarkably Large Orders Placed for Railroad Equipment-Market Is Steadily Advancing-Coke
 Situation Is Bad.
LOCAL SITUATION QUIET

The Birmingham market Is now quite
 well established on a s14. No. ?, basis. A
 few small lots for quick delivery have brought S1450 this week. The market
 was without special feature yesterday but an active buying movement is ex- pected soon.
 Rogers Brown & Co.'S Cincinnati report
 or yesterdays date follows:
 steadily advancing market with volume of business good, expresses the
 present situation. The total tonnage booked during the week will be smaller than for several weeks past. The efforts
 which have been made to prevent run
 away market have had their effect, and the sentiment against speculative pur-
 chase has been growing. Considering the tremendous volume of business which Is In progress everywhere. the sanity ana
 moderation in advancing prices are highly satisfactory sign. If this same attitude can be maintained for the next six months the country will have passed through the most successful period in Its history. The furnaces everywhere, when not out of the market, are limiting the
 tonnage on which they quote and stiil considering anxiously the prospect or
 cost for the ensuing year. Heavy buying In rails and equipment continues to De the feature.
 The following table, showing orders placed for railroad equipment this year. is interesting as confirming reports Of large buying for this class of equipment, which has been going on for several
 months The 1905 record is only for the
 42 weeks up to the present time: 1903 1904 1905
 Freight cars JOS, ,9S6 136,56l 216672 Passenger cars ...... 2,310 2,21S 22s7 Locomotives ...... 3,2S3 2.5SS 41a
 If there had been more iron available for the first quarter and hrst nait oi
 next year. 1t would all have been bought. As it is, with so many leading interests
 out of the market, buyers have been con- tent with what they could get and have not pressed their efforts, which would | necessarily hasten further advances. Un- der present conditions it Is probable that 1 furnace stocks will be heavily reduced in October, notwithstanding increased ] production.
  capacity of anthracite coke and charcoal 1 iron furnaces at the present time is over 1 5OO.OOO tons The coke market continues active and spot coke, where available, is only obtainable at largely increased prices. There have been num- Der of furnace contracts closed dur 1 ing the week, and other contracts un- der consideration
 The transportation problem is still as black as ever and cutting large figure I in the situation.
 Matthew Addy & Co.'S Cincinnati report says:
 l It is more and more evident that con- | sumption of pig iron at the present time l is at rate absolutely unprecedented in | this country. In every direction indivi- ], dual foundries are breaking their records, | and are using iron far in excess of their l expectations. Spot iron is in decided demand This comes from the fact that 1 concerns that thought themselves fully | covered for all the pig iron they are go- | ing to need for several months are using
 up their supplies faster than they are | coming in under old contracts, and are obliged to purchase new material in or
 der to keep running to the full limit. There is a growing difficulty in getting
 raw materials on account of the shortage | Of cars.
 1 The coke situation is bad now, and is ] rapidly becoming worse. In the Virginia