The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1906-11-17
IRON CONDITIONS
ARE INTENSIFIED
All Spot Metal is Quickly
Gobbled Up
CAR SHORTAGE SERIOUS
Importation of Foreign Iron Is Pro-
ceedlng Rapldly-The Coke Mar
ket Is Exceedingly Strong
and Prices Advanced.

The Birmingham iron market is without
change this week. Spot iron is exceeding
ly scarce and brings almost any fancy
price. Second quarter iron is quoted all
the way from $3.50 to $40 on a No. 2
basis.
Rogers, Brown &c Co.'S Cincinnati report
for the current week follows:
Conditions the past week are intensified
in respect to demands for prompt ship
ment and difficulty furnace companies are
having with labor and regular supply of
raw materials, and where these are salts
factory, inability of railroads to furnish
anything like sufficient number of cars
to move tonnage on existing orders. As
the seasons Indictment weather APP
proaches these conditions are likely to be-
come more strained than they are at
present. The tone of the market for all
kinds of iron is strong and higher prices
are prevailing this week than were cur
rent a week ago for both foreign and
American pig. Locally, buying has been
somewhat quieter in respect to large lots
and extended delivery. Pressure for small
lots and prompt shipment is as strong
as ever. Prices for the business are so
irregular as to make each proposition a
class by itself.
The importation of foreign iron is pro-
ceeding rapidly. The class of iron coming
is of excellent quality, Scotch and Mid
dlesboro brands. The movement of this
material has had a stable effect on the
market.
The week has been productive of publ
cations in many lines of output for Oc-
tober, which show that industries
throughout the country, particularly in
the metal producing lines, have been
breaking records for previous production.
In New York and the New England
states it is stated that the trade in
general have covered so far for but %
per cent of their estimated requirements
during the first half of next year.
Heavy buying of Lake Superior ores
has taken place during the week, and it
is stated that the estimated output for
the season of 1907 Is practically sold at
price varying from 60 to 80 cents per ton
advance over ore being shipped on cur
rent contracts. The contracts closed cover
the period to June /, 1908, with a result
that during that time there will be an
added cost in the manufacture of pig iron
of from 1.25 to $1.75 per ton. This manu-
featuring expense is due to ore advances
alone.
One item which may have escaped gen.
eral notice, but which is full of import for
the south, Is the arrival at Charleston
last week of the first immigrant steamer
in that port, bringing ONE 400 workers
for distribution in the south The class
of labor was of a better grade and the
majority of them will find their places in
the southern mills. This is an experiment
which shows every evidence of being
distinct success which, if such is the
case, will mean tremendous advantage to
the south in all lines of manufacture The
one crying need of that part of the coun-
try and its greatest handicap is lack of
even the most unsklled labor.
Coke is strong and prices have adj
vanced tremendously. The production and
shipments from the Connellsville district
keep up well, but in the Virginia and
West Virginia fields operators are exper-
fencing insufficient car supply. In no
sense is the full capacity of operations
being maintained.
Matthew Addy & Co.'S Cincinnati report
says:
A review of the condition of the pig
iron market for the past week is prac-
tically a repetition of the previous weeks
report, which means that the s..uation is
not only exceedingly strong, but just
about as active as it can possibly be I'M
der the circumstances Spot iron is in ac-
five demand. hut there is cOmpara tyeIv
so little to be had that the aggregate
tonnage of sales for prompt shipment is
not startlingly large.
Whenever a lot of iron for quick deliv-
cry makes its appearance, it is gobbled
up by the hungry consumer almost be-
fore anyone has time to think The par
ticular brand or grade of the iron seems
to be of little consequence, nor does 1t
seem to make much difference to the buy
er whether the iron comes from Virginia,
Alabama or from the north; so long as It
Is in transit or ready to be shipped out
promptly he will pay almost any price
asked for It, Southern furnaces are gem
orally well taken care of for the early
part of the year, and future sales made
during the past week have been mostly
confined to second quarter shipment. AL
ready bona fide inquiries are coming in
y. 49, ID