The Birmingham age-herald., 1906-11-03
P|G IRON MARKET
 IS STILL EXCITED
Many Consumers Not Covered
 for First Quarter
FANCY PRICES FOR SPOT
Car Situation Very Bad and Promises to Grow Worse-Coke Market Active--Marked Shortage
 of Coke Oven Labor.

The iron muf.s continues to be excited, although spot metal has been bringing fancy priees-S2O and upwards-long enough for the trade to be used to the conditions. No foundry for the second quarter is quoted at $1750 to SIS.
 Rogers. Brown X Co.'S Cincinnati re- port for the current week says:
 Inquiries for large tonnage of foundry grades for delivery during the first quar- Ter of next year have disclosed the fact that in spite of the large buying which has been done for this period, there are q number of interests whose needs for the first three months are still to be provided for This throws q new light on the sit uation which has been practically consid- cred closed. as the majority of furnaces have withdrawn from the market for first quarter tonnage. The same insistent demand for nearby tonnage continues un- abated. togther with lively inquiries for a large range of grades for 1906 shipment which cannot be quoted on by the fur naces. The week has been especially noticeable for the eager acceptance py buyers of any foundry iron which couio be offered for immediate or nearby de- livery and the purchase of large tonnage for the second quarter Of l90i.
 Prices on any iron for 1906 have regis tered several advances. Inquiries con tinue brisk for first half business in all grades This is particularly true or sleel making irons and the higher or the lo1h- dry grades Prices are largely mater of special making for each transactloh dS if comes np as almost every sale IS nlilde rie generally higher. The continued rise III 1he market at all points is the neVitaple conseouence of the tremendous deillaiu for iron of every sort and the lnapllltN oi furnaces to increase their output to any considerable extent. oo -. September produced some 4oWo toils more than August and it is estimated that production in october will figure up in the neighborhood of lOlOm tons more outnut than September. It is practically certain that production this year Will oe oyer twenty-five million tons.
 The car situation which has been looked ,,pon with much misgiving during the Tall, now nromises to actually beat all records in inability to care for the traffic offered. In a large measure the present condition of furnace contracts is due to thls very thing 1t now seems that car shortage will be the leading feature Of the iron trade this winter. This is affecting all
 
 many cases when there are no storage facilities. some mills have been unable 10 make their full capacity for several Weehs. Tn the south the conditions as to iaoor and freight car service are gong rom bad to worse. .,
 Coke is stronger than ever and the very .n,.,u increase in output as compared WILT tbis time last year, together with large nurchases by the Steel Corroratlon ron independent plants taking some 3oooo tons off the market. have created dls tinct shortage and prices arc influenced accordingly.
 Matthew Addy X Co. $ Cincinnati repor follows +,
 For every car of pig iron that can p' shipped pormptly there are hall dozei customers As for prices on spot 'ron there is a wide range. dependlhS ai,o eether on the quality of the iron' ana the nron,ntness with which delivery can oe made Last week S19 was about the price for No. 9 f. O. b. Birmingham Ioday sz, and s21 are asked, and the predictions tha' s25 will be reached before the end oi tlie vear do not seem at all imposslple' NihSls days ago when the buying movement De a and some of the careful students o1 sa1 oondi+ions announced that $2o iror n,o,ld he seen before the year closed. they were laughed at as Wlo-eyeu uii'ti'9 asts But today the trade generally is o 1he opinion that high water marx ls SUI SUI considerably ahead of us. ana that 'n stringency in pig iron Will last "i,am ,,a.th 1east the middle of next year. III ho' is q r, irn,, there is the same condltlon or ai fairs as in southern. Very nttle hor''iei iron is left unsuld for shipment before LII second quarter of 1907, and Tor that ship ,,ent s21 f O. h. Ohio furnace IS now .h ruling price. ,,,oi+a,,ont 1,
 There is naturally great excitement II ,,,a ,narl<et. Buyers who aie not yet fuli. ,,n,lied for their immediate or luloi x,ants are on the anxious seat
 ,r,,;s week there has been n greater de
 ,,a than eyer for spot iron, ana mos of fl has necessa -ily gone unsa'isileu. IT s,,,ir,, for forward shipment nas III ',,.lnd ad and there have been heavy sales ,'t ,,an1- sellers are entirely out ol In
 ,lsot ar are offering iron m oni' ,;,,ited quantities. and buyers are ooise' ta do a good deal of shopping
 Tn inc south there is d d"cloed siiol 'as of cars Shipments on oiu olu ,, pearlv all furnaces are behltM oIi con '. a. a,,a-ioe Thus consumers are not Se' .',,a what they bought. and thls aads | .he strennmlsness of the situation III iu iu dition it is an rndisputeu iact M .nea l.sa ,.'.; ,,, all foundries have had a iareet ula' ness than was foreseeh ana ln a,'s .ha they are needing fhoi
 oruinally expected. ,,, ,,e,ra is active. and there is livel' s,9ana for large lots for furnace use. ,hn coke ovens there is a pailuui sholtas of labor. This is general not oi.iy III !l u, coke districts, pu' "' ''iO 'i0
 furnaces as we'll o..>,,or .hero ,v,
 .,h,.e,ce in the price of iron Tor spo
 hinunent of three dollars, ana ior TOT s'ard delivery of two dollars ana wha November may bring forth is ent'feig ", t,,,U matt see no backward step.