The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1906-05-26
IRON MARKET DULL
BUT SOME INQUIRY
The Situation Seems to be
Somewhat Peculiar
BRISK BUYING OF RAILS
Over Million Tons for 1907 Delivery
Already Contracted for Breaks All
Reoord--RaIroads Evidently
See Big Business Ahead.
BRISK BUYING OF RAILS

The Birmingham iron market has been
quiet all the week but prices hold quite
firm.
Rogers, Brown & Co.'S Cincinnati re-
port for the current week follows:
Any feature of unusual nature has been
| absolutely lacking during the past week.
There has been little, IL any, change in
the local situation as regards inquiries
and sales.
BY far the most interesting thing in
connection with metal markets has been
the unprecedented buying of rails. Over
million tons for 1907 delivery already
contracted for, breaks all records and
proves conclusively that the railroads are
looking to the future with greater eff
forts to prepare themselves for increased
business than ever before. 1t is undoubt-
eddy a case where the railroads can be-
gin to see the demands that will be
made on them for several years to come,
and are willing to make strong efforts
to take care of these demands in better
shape than has been done up to the pres
ent time. There is no question about the
present prosperity of transportation in
the United States and every prospect of
its so continuing.
Consumption of iron is proceeding at an
undimnished rate and there is no let up
to the movement from furnaces There is
no accumulation of furnace stocks and
iron is being used Immediately on ar
rival
Coke is without noticeable change.
There are some inquiries for furnace fuel
which aggregate a good tonnage and
which will doubtless be closed before
next week.
Matthew Addy & Co.'S Cincinnati report
says:
The week just ending has developed
no material change in the pig iron stu
alton. A good amount of inquiry and a
satisfactory scattering of orders marks
the weeks business. Buyers continue to
display a disposition to put off their pur-
chases as long as possible, most of them
being content to cover their require
ments from month to month.
The situation is rather peculiar one,
in that this state of affairs appears to
have no effect on the views of the fur
nacemen. When a buyer comes into the
market there is a general response to
his inquiry, but there seems no disposi-
ton to cut prices on the part of the
pig iron manufacturer, who argues that
while his stocks are so low, while con-
sumption continues at its present enor-
nous rate, and so many consumers are
not covered into the future, 1t would be
foolish to do anything else than stand
firm. In a number of sections throughout
the country the moulders' strike has had
a somewhat depressing effect on the de-
mand for regular foundry grades of iron.
There continues to be a brisk demand for
Bessemer. Several of the largest consum-
ers of this metal are negotiating for ad-
ditional quantities for June shipment, but
its extreme scarcity prevents its being
quoted in any large quantity.
Among the northern furnaces, while
foundry grades are somewhat more plen-
tiful than in the south, prices continue
steady, and the furnacemen are inclined
to let any business go rather than take
it on below their ruling schedule of
prices.