The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1907-02-09
NO NEW FEATURES
IN Pig IRON TRADE
YEAR STARTED OFF WELL, WITH
JANUARY AS ALMOST A RECORD
MONTH FOR BuslNESs-cokE
is VERY STRONG.

The Birmingham iron market is without
change this week. 1t is strong for the
last half of the year at $l9 on a No.
basis.
Rogers Brown & Co.'S Cincinnati report
for the current week follows:
The year started off well, January de-
veloping almost a record month of BUSH
| ness. The market during the week has
been srtong without unusual feature
Prices are firm and there is continued
, interest in business for the last half as
well as eagerness ON the part~-ef-western
buyers to cover for immediate needs in
small quantity whenever the iron is Of
fered A large part of requirements for
last half delivery have now been covered
and number of buyers have reached the
point where they prefer to wait until later
before covering their remaining tonnage.
| 1t is of interest to note imports and ex-
| ports Of iron and steel products during
1906 Gains are shown in both. Imports
of foreign pig iron were 379,S28 tons,
against 212,466 tons in 1906. Exports of
steel rails for 1906, 32S 036 tons, against
295,023 tons in 1905. There has never been
time when the demands on makers of
| structural steel were greater than at pres
| emit 1t is estimated that something like
+, 100000 tons of structural shapes are
| planned for. 1t is stated that some $1,000
| tons have been contracted for since the
ilrst OF the year, including building and
| railroad construction work of all kinds.
the feature of transportation conditions
! during the last few weeks has been the
| large number of cars and locomotives
| winch nave been ordered, as against q
] falling off in railroad contracts for
bridges and rails. All steel cars are very
i much In evidence in recent contracts.
Many have looked with apprehension at
! the decline in stock values during the past
two weeks, and the unsettled condition OF
| securities as an indication as to the ten
dency OF the country's prosperity 1t has
| been acknowledged that the decline was
| due most largely to artificial causes apart
from any tendency in trade conditions
The most conservative feel that 1t will
! hardly be possible for the activity of the
| country to suffer during 1907 anything
more than slowing up. For years those
most largely interested in our financial
| and industrial life have been preaching
care and conservatism in the conduct of
| our business and 1906 was an example of
| conservative influence brought to bear on
! what ten years ago would probably have
| been prosperity run mad: 1907, with eondi-
| ions summed up and judged by every
! prospect of the business in sight in large
| lines, resolves itself into continuation of
| 1906 conducted with the same eonserva-
tive elements. 1t is largely conceded that
! this is positive for the first six months
and the balance of the year depends
mainly on satisfactory crop reports.
I An unusual feature of productive ca
| paeity in this country during the last six
! months has been the absence of a revival
OF old stacks. In former periods of pig
| iron prosperity every advance in prices
| has been accompanied by old plants being
quickly made ready and run to take adj
! vantage of the market. which ordinarily
! their costs would not permit their en-
| tering. During the last six months the
lack of supply of raw material and the in
I ability of railroads to get 1t to plants Of
| this character has prevented the usual
| leading accompaniment to an advancing
market. The productive capacity of ac-
tive blast furnaces is at higher figure
! than for many years. and is the result of
the continuous building of new plants and
the high level at which pig iron prices
| have been ruling.
| Coke in all districts is strong without
/ marked change in prices Production is
/ Oft particularly in the West Virginia and
Virginia fields and poor railroad service
is causing as much trouble as ever Sew
| eral contracts for extended delivery have
| been under consideration. The more pom
| ular brands are well sold up for the first
1 half against their estimated output and
| unless good weather or other fortunate
! circumstances make 1t possible for them
| to increase this changes in brands viii
/ he necessary with many consumers who
have hesitated placing their coke business
during the early part of 1907.