The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1906-06-09
LOCAL IRON TRADE
STILL VERY DULL
BUT OUTLOOK is BRIGHT
Inquiries Are Beginning to Be More
Numerous and an Active July Mar
ket Is redicted-Furnaces
Out for Repair.

Inc Birmingham iron market is eN-
ceedingly quiet There is little or no sell
ing, but within the past few days in
quiries have been more numerous. The
SD quotation is being maintained, and
Birmingham iron makers are expecting an
active market for foundry stock by the
1st of July.
Rogers, Brown & Co.'S Cincinnati report
for the current week follows:
Trading in iron and steel continues on
moderate scale with general business
conditions somewhat improved. There is
an absence of any unusual developments,
and the excellent conditions which have
prevailed for several weeks past continue
It is estimated that buying for the week
has been fully up to production during the
Sc me period, and as far as can be learned
consumption is still proceeding at an undi-
ninished rate.
Steel makers generally have been pur-
chasers of Bessemer Iron, and the market
for both Bessemer and basic is strong
with both grades scarce.
Southern furnaces with full order books
for several months ahead, and Virginia
| and northern furnaces in same condition.
with practically no stocks on hand at any
point are not in favor of making any
| concessions to add to the present volume
of sales, which, while not up to some
records In the recent past, is still of such
a satisfactory and stable nature as to
cause no complaint.
Locally there has been quite furry
of small orders from the general foundry
1n vi 4ar
larger tonnage for delivery during sixty
and ninety days has made the week of
considerable interest. In all manufacture
ing lines remarkable activity continues
this being especially true of malleable
iron consumers and all steel producers
Makers of cast iron pipe report unprece-
Gented business and repeated opportunl-
ties to dispose of their product, in small
PIPE especially, for twelve and eighteen
months ahead, provided it were available
There is complaint among buyers at the
tardy deliveries of finished material from
foundries generally; those which are NOT
behind on contracts are an exception.
II would be a surprise to many to know
what dependence is placed on the crop re-
ports of this country by those intimately
! connected with the iron ana steel trade
The old saying that the wealth and pros
perty of a country depend on what comes
| out of the ground, still holds, and II
the result of this years planting should
be as much as a year ago, or If it SHOULD
prove to be only fair, it is the opinion
OF most of the conservative observers Of
| financial and economic affairs that a
least one more years undiminished bust
| ness activity and prosperity lies before
| the country. This week has seen in gen.
eral way reports on crops which are mos
! rcassuring and lead those interested tt
| believe that these will he eminently salts.
factory. The stock market has already
reflected this favorable report and the
| two factors in the market at present, the
money available at reasonable rates and
the state of these same crops, seem tc
stand now in an extremely favorable
| light. Viewed from all sides and taking
| into consideration various contingencies
which may arise, the croaker and the mar
with cold feet are at a heavy discount
When found they should be made note of
| On account of recent accidents to one
or two of the southern furnaces produc-
tion in the Birmingham district will be
quite seriously interfered with for two oil
, three weeks.
Coke continues in good demand and is
moving freely from all districts There Is
no change in prices which are favorable
for consumers at this time Figures being
made on business prior to January next
are advantageous and have resulted In
good business.
Matthew Addy e. Co.'S Cincinnati report
for the week says:
The distinguishing feature of the week
Is the active demand for steel making
irons. The scarcity OF Bessemer Is be-
coming more and more pronounced. and
good basic iron for anything like prompt
shipment is out of the market On the
other hand the general apathy in re-
gard to foundry grades of iron continues
The weeks foundry business has again
been made up mostly of small lots rang
ing from carloads to blocks of 200 or 300
tons. Quite number OF inquiries for
iron of special analysis have come to
light, and meters arc evidently looking
for iron to help~use up the odd lots that
they have on their yards. The large
consumers are still waiting" and al
though they apparently show no interest
in present prices 1t is evident that they
are keeping in close touch with the sit
uation and will buy when they think
the suspicious moment has come.
In the Birmingham district several fur
naces are out for repairs and there Is
not likely to be any accumula ton for
some time. Many of the furnaces are be-
midland on orders for higher grades of
iron, and requests for hurry shipment
continue to come in While there Is no