The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1906-09-08
Pic IRON MARKET
ON A HIGH LEVEL
Price for First Half Harden8
at $3.50
GOOD TONNAGE SELLING
Features of Market Reported From
Cincinnati Is Continued Steady In
qulry, Especially for Deliver
Ing In First Half of 1907.

The Birmingham Iron market has been
without special feature during the past
few days. It continues strong and re-
cent high levels-s16 on a No. basis for
1906 delivery and 1850 for the first half
of 1907. No. foundry spot in small lots
brings a premium but the figures above
mentioned are those at which the Sloss-
Sheffield company is selling. The Sloss
has sold 10000 tons for 1907. OF this ton
mage two-thirds were booked at SIS on
a No. 2 basis. About the 10Th of August
the price was marked up to 1880 and
$1,000 tons have been sold at that price.
Rogers, Brown & Co.'s Cincinnati re-
port for the current week follows:
The feature of the marka Is the con-
tinued steady inquiry, especially for de-
year. covering all grades The demand for
spot iron, while not SO great as a week
ago, Is nevertheless of sufficient volume
to absorb any iron that may be offered
and trouble is being experienced in secur-
Ing the higher grades or iron Of certain
specifications. High silicon irons are in
good demand. Steel making grades are
scarce and all furnaces are sold up solid
for this year and well into next on basic
and Bessemer.
The continued shortage of labor from
which there is no relief in sight, makes
1t very difficult for furnaces to operate
advantageously and keeps the coke pro-
duction down. Some difficulty is also ex-
perienced in securing cars for the move
ment of iron and coke.
There Is good demand for all grades
of coke and prices are advancing
Matthew Addy & Co.'s Cincinnati re-
port says:
The present active pig iron market has
lasted so long that 1t now seems to be
quite the natural and usual state of af-
fairs. For more than nine solid weeks
now there has been steady buying,
constant inquiry, and a shortage of good
grades for immediate shipment. And
these are the three features of the past
week The buying has been steady-most
of it being for shipment over the first
part of 1907; inquiry has not let up at
ALL and 1t is in large part for iron and
deliveries that are impossible to secure;
and as for iron for prompt delivery while
there are a few odd lots here and there
yet they are only a drop in the bucket
compared to what Is wanted.
It looks as If we might this fall have
more than the usual difficulties from
freight blockades. Already in the south
there is such a shortage of cars that the
coke districts are seriously embarrassed.
Not only this but several furnaces de-
pending on merchant coke are In dire dis
tress and one of them to our knowledge
has been forced to bank. and there Is no
relief in sight. Pig iron and coke ship
ments are making as a rule very poor
time, and the delays In transit coming at
this time when raw materials are in such
short supply are exasperating beyond
words. But apparently there is no use
finding fault, as these troubles come, 1t
seems, not from any mismanagement but
simply from too much prosperity. That
is the railroads are being given more to
do than they can do with their pres
ent equipment. The Cincinnati Southern
and the Louisville and Nashville are par
ticularly in evidence. They have for the
most part only a single track between
here and Chattanooga. Knoxville, Nash
Vile, Birmingham and the Wise county
coke fields. Double tracks and a larger
equipment of cars are vitality necessary
to keep up with the expanding business
Of the south.
Coke is following pig closely, and the
record of one Is almost the record of the
other.