The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1906-03-10
IMPROVEMENT IN
IRON TRADE NOTED
More Inquiries and Sales Are
Now Reported
APATHY IS DISAPPEARING
Production Is Still Proceeding at a
Great Rate-Advance In Railroad
Rate riticised-Demand
for Coke Is Good.
APATHY is DISAPPEARING

The Birmingham iron market is without
special features, but inquiries are more
numerous.
Rogers. Brown & Co.'S Cincinnati report
for the current week follows:
Distinct Improvement is shown in both
inquiries and sales. The apathy which
has been in evidence for some time has
given place to more lively inquiry, which
has resulted in several sales of good
sized tonnage. This improvement is
Judged to be the forerunner of buying
which must be done in large volume for
the remainder of the year from April !.
There has been little inquiry for delivery
during the second half. and a very small
percentage of the requirements needed af-
ter July has yet been provided for; un-
questionably the tonnage which must be
bought for second quarter delivery IS
larger than is generally supposed. Ali
this is more evident as the second quar-
ter approaches. Small business continues
in good volume and buyers are pressing
for prompt shipment and anticipation OF
delivery on contracts When it is consid-
cred that a large part of the southern
iron shipped in February was in antici-
patton on contracts and to avoid the adj
vance of % cents in rates, it would not
have been surprising If for some time the
demand for prompt shipments OF south
ern iron experienced lull So far in
March, however, this has not been the
case, as there has been a marked tendency
in the other direction
Production is stil1 proceeding at great
rate. but many of the furnaces generally
expected to have been blown in by this
time have not materialized. This is due
largely to the increased cost of manu-
facture and the scarcity of labor To this
non-productive list must be added those
recently blown out at several points III
the north and south. Record breaking
consumption with ever-diminlshing fur
mace stocks continues. In the face of the
present waiting attitude of buyers, the
frmness of prices shows how satisfactory
market conditions are judged to be by the
furuacemen.
There is great business in finished steel
forms. The mills have larger tonnage
ahead of them than ever before. Unless
all signs fail, the rail business for 1906
will exceed three million tons, which is
practically the present capacity Of the
rail mills and means full operation FOR
these plants during 1906.
An interesting feature of industrial eX-
pansion of the country is shown by the
capital totals of new interpretations dur
ing January and February of this year.
For January the total of these incorpora-
tons. with authorized capital of $l,0O0OOO
or over, amounted to $411,9i5,O0o. For Feb
ruary s202, $50 600. This is an Increase OF
$500 100000 over the first two months of
last year and over 900 advance of
1904.
Although the output of coke is very
much greater than usual at this time of
year, and following as it does on large
output for the past two months, due to
favorable weather, present prices are tirm
and demand is good. Second quartepcon-
tracts for coke are contemplated both
bv furnaces and foundries and the
amount under offer is of good size
Matthew Addy & Co.'S Cincinnati re-
port says
Never has an advance in pig iron
freights been made at more inoppor-
tune time than the D cents that has just
been added to the rate on iron from the
south Both consumers and producers
criticize it-and coming at time when
there is but little new business, but when
old business is being shipped out in large
volume ii really amounts to tax on
trade.
Buyers are so busy melting iron these
days that they apparently have not much
time for anything else. The tonnage OF
iron now being put into various forms oil
finished material Is tremendous In this
lies the strength of the situation. There
is no accumulation of iron either in con-
sumers' yards or at the furnaces, and the
pressure TO have shipments made as fast
as possible docs not let up at all. In fact
consumers are in many cases asking to
have shipments made before they are
due. This fact speaks for itself. There
is not a great deal of current trading.
OF course there is fair buying of spot
iron right along, but consumers are not
yet in tho mood to anticipate their tu-
ture needs in a wholesale way. That pre-
sently they Will be obliged to go into the
market and purchase or else shut down,
is an undeniable fact There Is nothing
particularly new and certainly nothing
very significant in the present situation.
Every year we pass through several such
quiet periods. They are~as natural to
the pig iron trade as are the resting sea
sons Of nature in this latitude. After
period of great activity there comes
time of quiet and we are in such time
now.
Coke is hard TO get shipped on time.
Nearly all the coke ovens are behind on
deliveries. and there is much inconven-
fence among consumers on this account.
m nCuurt m tn mTInNnn