The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1905-07-29
LOCAL IRON TRADE,
FIRM BUT QUIET
The Volume of Recent Sales
Very Large
ON A SOLID SIP BASIS
Demand for All Grades Said to Be
Good-General Business Prosperity.
Activity in Iron Not Mere
Iy Squirt.

interests being reluctant TO oher at tins
apure on account of order books being
we'll filed for early delivery. Northern
,rors are strong at an advance of SOC
per ton over last weeks prices.
The demand for all grades IS good anu
the tonnage sold has been widely scat
tered. There are q number OF inquiries
pending which will doubtless develop mt
sales during the coming week. A pecuhaf-
ity has been the large number OIL IN
o,,,ries received for delivery extending TO
July l. 1906 A great majority OF these
have been refused by furnace companies
except at a premium for the delivery after
January /, 1906.
Reports received from prominent con-
sumers bear out all that has been said
about continued excellent business in va
rious lines. and the majority of them are
figuring on consuming more iron IN 'he
next six or eight months than In the
same period any time heretofore.
business in heavy lines continues TO De
placed and the week has shown up large
orders for steel rails. OF total OF some
10000 tons being figured, over 7o,oVo TONS
have been placed with the mills. ms IN
addition to the tremendous quanuv
bought earlier in the year will keep the
rail makers busy.
coke has felt the advancing influence,
and while production in some districts Is
being temporarily decreased, prices are
firm, in some instances registering an al
vance. and the movement is general De-
mand is good and more interest IS peihs
shown in this branch than for some tiii'e'
Having turned the first half of the
x,oar ~ Is Interesting to consider some
records made as a forecast for the SIX
months to come.
Present prosperity in the railroad busi-
ness. steel trade and copper industry mas
heen evidenced by the Increased divi-
dends distributed in the last few days.
As an indication of what has Just been
accomplished, it is noted that fifteen rail-
road companies beside six industrials an
nounced an increase in the dividend rate.
A survey of this list shows that no par
tic,lar section of the country mas peeh
more fortunate than another in TINS ois-
bursement. Each week brings reports OF
steady growth in railroad es iings. Gross
receipts for the first two weeks of July
indicate gain Of over per cent, COM
pared with the same period of 1904.
The foreign commerce of the United
States for the year ending July exceeds
that of any previous year, being about
5000. 600 900 more than 1904, the record year.
Both imports and exports made new high
records, imports being over Sl,looVoooo
and exports over 81 500, 100000, not only sur
passing the record of 1901, but for the
first time in the history of our commerce
surprising the s1,5oo,00O,000 limit. These
and numerous other indications are OF
great satisfaction to those who study the
general welfare. and looking closer TO
the iron market and its branches, one
cannot but anticipate the best OF records
for the ensuing six months.
Matthew Addy 81 Co.'s Cincinnati report
for the week ending yesterday says:
II is obvious that the activity we are
now experiencing in the pig iron market
is not merely squirt but a real buying
movement. Consumers both large and
small, who have been dilly-dallying for
several months and who have not beeen
able to make up their minds whether or
not to buy, have almost with one accord
come into the market The southern fur
naces are now practically sold up Tor
the third quarter, while many of them are
taken care of we'll into the fourth quar-
ter.
Although demand has been for almost
all grades and classes Of pig iron, calls
for higher grades of soft irons and for
No. 2 foundry have been unusual and the
sales of these grades have pretty well
tied the furnaces up. While the greater
part of the tonnage booked Is for ship
ment over the third quarter great many
consumers have covered for the entire
last half Inquiries for deliveries extend
ing through the entire first half of 1906
have been quite numerous but as yet the
furnacemen In the north and south are
ayerse to taking on any 1906 business.
They are all feeling independent and be-
lieve that If they hold off for a while
they are going to get more money for
their iron for next year delivery.
Demands for immediate shipment con-
tinue, and almost every mall brings
flood of letters from consumers, who
write us that they are in a serious condi-
ton for want of iron. and who urge us
to do everything we can for them to have
their iron hurried along. Iron Is moving
freely from the south, but the enormous
tonnage booked for third quarter delivery
and for shipment beginning at once, has
placed our southern friends in a hard
position in view of the fact that they
are still having trouble in getting hold
of sufficient labor. They have the iron,
but 1t is almost impossible to get a large
enough force to load it into the cars.
Northern furnaces have had a large
share of recent business and their owners
are naturally feeling independent. Their
books are we'll filed and some of them