The Birmingham age-herald., 1906-08-18
.PIG IRON MARKET
 ACTIVE AND HIGH Firm at $15 With Upward
 Tendency IRON NOW VERY SCARCE Large Buying Within Present Week Iron Selling Readily at Higher Level of Prlees-Runaway
 Prices Deprecated.
IRON NOW VERY SCARCE

The Birmingham iron market is active at s15 on a No. basis and the tendency continues upward. No. 1 and No. foun- dry grades are exceedingly scarce.
 Rogers, Brown & Co.'S Cincinnati report for the current week follows;
 The week has registered the heaviest buying, largest inquiry and greatest ac- | tivity in both pig iron and coke of any week this year. This has resulted in an advance in prices all along the line. Wherever there was any iron available for 1906 delivery it has been promptly bought.
 The prices made on deliveries during the first quarter and first half, for which inquiry has been very free, have been for the most part on basis of market fig ures at the present time, which are from S1 to S1.50 of an advance to what they were two weeks ago.
 As has been predicted for several months past, the continued tremendous consumption in all lines, together with the letting down in production and it's serious curtaiment during the last two months, have had the inevitable result of creating shortage during the last quar- ter.
 It is to be hoped that most consumers have properly covered for the greater part of their requirements prior to January, 1907. If this is the case. 1t will be only exceptional demands and then only in limited number, which will be made on the furnaces in addition to what they have already booked, and it is no doubt likely they can be taken care of It would be unfortunate if the sane basis on which pig iron trading has progressed so far this year, and on the strength of which consumers and producers were mutually congratulating themselves, should cease to hold to the end.
 Any run away conditions or abnormal | advance in the way of prices is to be most heartily deplored. Conditions gen. orally are of too optimistic and healthy character to be dulled by a false or unre- liable condition in the iron trade. The situation from furnace standpoint is very strong. Instead of one or two furnaces being out of the market for the balance of this year, 1t is now case of the majority in both the north and south unwilling to take on business prior | to January.
 1 Lack of labor is now one of the most se- rious problems with which the coke oper- ators and furnace men have to contend. The curtailment of out-put in both pig iron and coke is more largely due to this cause than to any other.
 There is a scarcity of better grades of foundry coke for prompt shipment and several of the largest operators in the l Connellsville and Virginia fields have | withdrawn from the market for this years delivery All grades of coke are ruling higher and the market is strong with an upward tendency.
 | Matthew Addy & Co.'s Cincinnati report says:
 Pig iron for the balance of the year is | going to be difficult to secure on new orders. The continuous inquiry this week has developed the fact that practically all the Iron which the country can make during 1906 has been sold There may still be a little iron here and there for the last two or three months of the year, but there is no large quantity available. and | spot shipment on new orders Is simply | out of the question. As rule the big | fall buying comes in September or Oc- tober but this year it started in July. | and has kept up ever since until the fur | mace order books are filled as they have not been filled at this season for years. | The buying started with No. ? northern | iron at about $16 and 1t has now gone | to SIS; southern No. started between SIS | and s1350 and Is now at $15, with every chance of still further advances. The northern ironmasters are facing higher | costs next year. Lake ore is sold in De- cember for the following year. and while all the ore men announce that they would like to see the price of ore stay where it | is, yet that ore will be higher is a fore- gone conclusion. Coke prices are also stiff fening.
 | Probably the main event of the week in | a news way Is the fact that 1907 busi- ness is being booked. Several orders for next year have been placed at top mar | ket prices, and many more are in process of negotiation. It looks as if the largest | consumers were bound to take no chances regarding their supply of iron, but were | going to cover now
 Inquiry during the wee khas been very large. and many users of iron have been disappointed in not being able to get what they wanted when they wanted it. This is the season of the year when furnaces work their worst, and in every part of the country there is serious complaint on this score It does not seem possible to increase the output in the south because of a lack of coke. Already the supply of coke is so short, because of lack of labor in the coal mines and at the ovens, as to cause much inconvenience. In the north ore is scarce and the supply can not be increased.