The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1906-01-20
IRON MARKET STILL
AT QUOTED PRICES
Active Inquiries Indicate an Early
Buying Movement
QUICK DELIVERY ORDERS
Consumers Are Generally Buying From
Month to Month Needs-stooks
Low-open Winter Favor
able to Coke Situation.

me big iron market continues exceed
ingly strong at quotations. $3.50 for No. 2
foundry being the basis. PROMPT delivery
orders are being placed for small lots and
brisk buying movement is expected
later In the month.
Inc tendency on the part OF consumers
Is more and more for present needs In
stead of placing orders for a quarter many
large buyers seem to cover for only
month at time. This rule grows out of
the TACT that consumers hope to see low
er prices. But SO great will be the de-
mand between now and summer that local
manufacturers are inclined 10 think the
quotations will be marked up instead OF
down.
Rogers, Brown & Co.'S Cincinnati report
of yesterdays date says.
The first three weeks of the year con-
firm the promise with which 1906 started
There Is continued good number of in
quiries and an unusual anxiety manifest
ed by many buyers to pick up odd lots
of iron. There is renewed interest among
rolling mills for grey forge and notified,
and they have bought a good tonnage
Steel makers are particularly short of
iron They are extremely busy and may
be said to be almost continually In the
market. Anticipation of shipments is
urged by all customers and furnaces are
meeting with much trouble in living up to
deliveries demanded. In some quarters
the year so far has shown a better ton
mage than the entire month of December
nd af.-A- fafs. IL.
are predicting that all indications point
to their being much buster about the first
of February.
Basic and Bessemer irons are In great
demand and increasing scarcity. The pur-
chase by the Steel corporation of 10000
tons for delivery during the first half
comes at an opportune time and has been
under negotiation for over four weeks
The firm stand taken by sellers of this
lot and the report that the corporation
will take not only this but more If 1t can
be made available during the second quar-
ter, will influence conditions very strong
ly. Already there is no chance of getting
Bessemer at less than ST. 90, Valley fur
naces, and there are some quotations at
SIS 90 which will doubtless later see an
advance.
Pipe manufacturers have been recent
heavy buyers and the last three weeks
business for foundry iron has seen no
concession from figures registered Janu-
airy 1; on the other hand there may be
said to be generally stronger feeling.
Stocks on hand at furnaces and in the
hands of buyers are very low and both
yards would be practically bare could the
furnaces have moved during the last
three months the iron that they had sold
A number of figures are now available
covering the tremendous progress in COM
MERGE and manufactures recorded in 1906
1t is interesting to note, these as they are
all related to one another in the advance
ment of the greatness of this country. Our
domestic exports for last year were in
creased by sos, 100000 over the preceding
year, and more than half of this amount
was contributed by the classification of
bread stuffs. showing the large crops of
the year and the establishment of an ex-
port surplus of wheat
The open winter still continues to favor
the coke market. and supply and ship
ments are much easier. There has not
not yet been any appreciable effect on the
price, which is holding firm at last weeks
quotation. Several good sized sales have
been made for both foundry and furpace
coke Southern furnaces have recently
closed contracts for fuel and there is
still fair tonnage under negotiation The
districts have recovered from the holiday
l..
larger than usual at this time of year.
Inc advent of regular winter weather,
which may come any day, will serve to
throw around the operation and move
ment the same difficulties which are al
ways experienced under similar condi-
tions.
Matthew, Addy & Co.'s Cincinnati report
for the week of January 10 to 20 fol-
lows:
There have been during the week some
very large purchases of Bessemer and of
pipe irons These purchases run into six
figures Apart from this wholesale buy
ing the market has been characterized
by wide spread dealings in odd lots of all
kinds of material and for quantities run
ming from cdTlOduS up 10 htNtIdl HuHuTtu
tons. Some considerable iron has been
sold for shipment over the third quarter
of the year, and there are several sig
nificant inquiries now under negotiation
for this delivery. A good many consum-
ers, however, are purchasing as their inn
mediate necessities require. Prices are
firm, and sellers IN many cases are hav-
ing trouble in meeting contract specifca-
tions. 1t is probable today that most OF
the merchant furnace companies are act
ually behind hand on shipments.
There is much discussion over the adj
vance In freight rates on southern iron
March /. The general feeling is that this
advance is a mistake. 1t will tend TO les
sen the shipments of southern iron and
work a hardship on the producers and
consumers alike AS matter of fact. the
southern pig iron freight rates are al
ready high, and there is no real or justi-
fable reason at present why they should
be advanced.
Not for years has the situation in coke
at this season of the year been as 1t is
at present The exceedingly open weather
has prevented the customary coke famine,
so there is more coke than there has been
in January at any time since 1900. OF
course this is a great advantage to the
trade as without doubt lack of coke In
preyious winters has not only greatly en-
barrassed but decidedly curtailed indus
trial operations
Bishop Keener Is Dead.
Ns,x Orleans. January 19-Bishop John