The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1906-10-20
Pic IRON MARKET
IS VERY EXCITED
Spot Iron Scarce and Price is
Advancing
BUYING FOR 1907
Movement of Raw Material Exasperat-
inely Slow-Coke Market Won
derfully Brisk-coke Situa-
ton About as Iron.

The Birmingham iron market has adj
vanced so cents this week, which means
that No foundry for delivery in the
first half of 1907 is quoted at $3.50 in
stead of $16 The market is excited and
quick delivery iron in small lots is SELL
ing above SIS ON No. ? foundry basis.
Governed by recent northern sales, $25
for No. 2 for immediate delivery the
price here would be little above 800. Sell
ing for the second half of 1907 does not
seem to have begun in this market, but
there is comparatively little foundry iron
unsold for the first half.
Rogers, Brown & Co.'S Cincinnati re-
port for the current week follows:
Conditions during the past few weeks
are unchanged, except for being en-
phasized. Spot iron in all districts Is
scarce article and what little Is available
brings fancy prices. The increase in pro-
duetion during September which marked
turn upward from the decline In pig
iron manufacture which has been pro-
ceeding since March. has had little eff
feet. production being still much below
the normal of what 1t should be under
existing conditions. The demand for all
grades continues brisk and a number of
furnaces on account of the sold-up con-
dition of their order hooks, are out Of
the market for the first quarter in order
to be on the safe side and discount any
| tod
ment of raw material and finished pro-
duct by the railroads continues exasperat-
ingly slow and there is much ineonven-
fence in consequence.
Coke Is as active as pig iron and an
excellent business has been transacted
during the week. Foundry business for
first half and all of 1907 is being freely
placed at ruling figures.
Matthew Addy & Co.'S Cincinnati report
for the week says:
Worse and more of it, was the way
one of the heavy meters of pig iron sum-
married. the situation today. BY this he
meant that during the week strenuous
conditions in the iron trade have been
Intensified. There has been heavy buy
ing for the first six months of next year,
and there has been an increased demand
for iron, either for spot shipment or ship
ment over October, November and Decem-
| ber Most of these latter inquiries have
been fruitless. The 1906 iron that has been
sold has brought all kinds of premiums
from a dollar to two dollars and half,
the latter price being paid for partieu-
lary good iron which was guaranteed to
be delivered within twenty-fonr hours.
Prices for this year are too irregular
| to be quoted. For next year $50 Is the
| ruling price for No. northern and slb
| for No. southern, and the market has
an upward tendency Sales have been
large Apparently most of ,the basic that
can be made for long time to come
has been bought Malleable, too, has been
taken in large blocks Foundry iron has
| been active. In fact everything that bears
the name of iron has found a ready sale.
| Coke sales have been excellent. There
is more than the usual trouble in getting
enough cars in which to move coke and
the ovens in all districts are distressed
on this account. In coke the situation is
| just about as in pig iron.
The southern furnaces have been ia
vored for ten days now with fine clear
weather, and things in that section are
getting into something like normal shape,
except that there is a chronic lack of la
Dor and railroad cars A valued cores
pendent in Alabama writes us;
For several days now we have been
short of emptes at our plants for load
ing pig iron. This. of course, democrat
ICES our loading forces 1t looks to me
| like we are going to have continual trou-
BILE of one kind or another all the Win
ter through The present high price o.
cotton is causing a rush of that staple
to the markets, and you know how the
railroads do us when it comes to moving
cotton crop They simply let the iron lie
on the yard because it will keep, and the
cotton, they consider, has TO move in
preference to anything else simply men,
ton these troubles, along with others, so
that our trade may know the actual sit
| uaton."