The Birmingham age-herald., 1906-08-11
PIG IRON PRICES
 STILL ADVANCING Market Hardening at S1450
 on No. 2 Basis SLOSS- -SHEFFIELD'S SALES This Company Has Booked Orders Since the First of August Aggre- eatins ss,ooo Tons-cOnsum-
 CTS Need More Iron.
SLOSS- SHEFFIELD'S SALES

and a few small sales are reported at $l5 for No. 2.
 Since the lst of August the sloss-shef- field company has sold 5000 tons. Most of this was booked at Sl4 on No. 2 basis, but this week the price obtained for prompt delivery lots was s145o. Con- servatlve makers of iron say that s14.5O or $15 is high enough, but some men in the trade predict that 1t will go higher.
 Rogers, Brown & Co.'s Cincinnati re- port for the current week follows
 Marked activity among buyers is a feature of the week. Those who have not covered for their requirements prior to January, 1907. are experiencing no little difficulty in getting furnaces to entertain l the business in any shape. In many cases | furnaces in both the north and south, with bare yards, behind on current de- liveres and with make practically sold up for 1906, are refusing to consider any of the inquiries coming up for these deliv- | cries. The number of furnaces so situ- ated is increasing daily. Prices are strong l dicted have materalized on schedule time; not, however. through any artificial fore ing process or through arbitrary action of furnace men. but as a direct result of the condition of order books and business l generally taken in connection with the increasing demands of consumers, which, during the last two months, have out stripped production to an exceptional de- gree. In connection with the interest man. ifested for this years delivery comes an increase in inquiry for the first quarter and first half of 1907. So far prices made on this business have been largely in the nature of guess work and furnaces have been discouraging the idea of figuring on these deliveries.
 Locally the week has been an excel lent one, the best for some time, which Is a reflection of active buying fin all dis triets west and east as far as furnaces would take on business. Large tonnage has been rejected by them for this years delivery There is marked scarcity of special irons and higher foundry grades, with Bessemer and basic practically i'm possible to obtain.
 It is reported that in line with the prosperity in the west particularly, July was the best summer month ever known in railroad history for tonnage hauled, passengers carried and revenue received; all sections of the west and northwest participating in the phenomenal activ- ity. rH
 On account of difficulty in obtaining foundry iron at northern furnaces, bust ness has been placed for southern iron | with very little consideration for prices From all sides and in every line of man. | ufacture continue the reports of excep- tional sales unprecedented energy in manufacture and inability to meet de- mands made by customers of finished material everywhere. From every point come the reports of records broken and outlook the best.
 The government cotton report is a source of more assurance, but surpassing all else was resumption of dividends on common stock of the steel corporation. due to the tremendous business of this company during the quarter ending June | 90. In this time the corporation earned nearly double years dividend at the rate adopted by their directors. Such testi- monies of the prosperity of one of the country's leading industries is of special | importance.
 Coke is strong and active, with prices advanced over a week ago and spot ship ment material hard to obtain at pre- mium.
 Matthew, Addy & Co.'S Cincinnati re- port for the week says
 "The cry is still they come.' Shake speare was not exactly alluding to pig iron inquiries when he said this, but nothing could more aptly or fully describe i the situation. During the week there has been a steady demand for all varieties of | iron and for all kinds of quantities The I largest lots are wanted for shipment over | the first quarter the first half of next | year. For early 1907 delivery there are several very notable inquiries ranging from 5000 up to 20000 tons. There seems to be a feeling on the part of some of the large buyers that there should be | something special in the way of price for these forward deliveries. But sellers are not anxious to name any price, and eer- tainly not price lower than present cur rent quotations The attitute of sellers generally is to let the future take care
 
 end of this year. As yet the prices of | ore and coke for next year are uncer- tain quantities. and to sell iron now for I then Is something of leap in the dark. | Actual business this week has been heavy, but it would have been much lar | ger if there mad been the iron to offer h. | tending buyers have nearly all found it | impossible 10 get just what they wanted. l They have had to take what they could get and for such deliveries as were of | fered Probably more than half the in- 1 quiries made have been met with a re- | fusal to quote.
 | The week has developed decided short age in foundry irons for spot shipments. and it is very plain indeed that in this | respect the visible supply Is not by any | means equal to the demand.
 l From all furnace and coke districts | there is a complaint of a shortage of la 1 bor. There seems to be no probability of | increasing production for some time to l come, while it Is very sure that consump- | ton is constantly growing
 | The situation Is one entirely in favor of | the seller, and 1t Is no wonder that he | takes an optimistic view of the situation | Tn Birmingham they are predicting that | No. foundry will go to s15 or $16, the