The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1907-02-02
Pic IRON MARKET
STRONG AS EVER
Brisk Selling fo' the Last
Half at $19
PRODUCTION is PUSHED
Prices of Iron North and South Are
More Unlform-Large Railroad
Contracts Placed-Coke
and the Weather,

| If there has been any tagging in the
iron trade it has not been reflected here.
| The Birmingham market could not be
stronger. Some large sales were made
this week, for last half delivery, on a
basis of $40 for No. ?.
Rogers, Brown & Co.'s Cincinnati re-
| port for the current week follows:
Steady business in good volume marks
| the course of the pig iron market during
the week. Buying is general for the last
| half and good business has been done FOR
this delivery with large and small con-
Germs alike. The small consumer is gem
orally the last one TO come into the mar
ket for far ahead delivery and the pres
ence of a number of this class has been
feature
Prices are firm, and while the tendency
is to advance them, 1t will only be done
under press of conditions which make IL
imperative. 1t seems to be a time when
a number of consumers large and small,
are not as well fixed for second quarter
as has been the general idea, and this
will mean that they are going to have
trouble in getting iron for this delivery
in sufficient quantity Production is go
ing on at a tremendous rate; every fur
mace is being pushed to its limit and
numbers that under ordinary conditions
would be down and out for repairs, are
being continued to the last limit of their
physical strength.
Prices on both southern and northern
iron for last half delivery, are very much
more uniform than they have been, buy
ers' ideas seeming to conincde with those
of sellers to the extent of making thef
figures of different producers more near
ly equal. 1t is quite generally the case
when figuring for the last half. buyers
are able to get slight concession from
prices made for third quarter business
only. Locally, some companies have
bought the past week for the last hall.
which two weeks ago, decided that they
would wait some time longer before COM
ing in for this delivery In the case of
several of them, iron requirements for
l5o are more than two-thrds provided
for.
Contracts placed by the railroads for
new equipment, have been of large size
and the action of the Pennsylvania COM
pany in providing funds to cover the
purchase of a great amount of equip
ment, shows an effect on the part If
carrying companies to meet the conCl
tions as they now exist. II these steps
could have been taken earlier, the un-
fortunate state of affairs in which the
railroads now find themselves would have
been largely eliminated
In spite of the tremendous tonnage of
steel shapes in addition to rails which
| was carried over from 1906, the open win
| ter has been productive of general build
| ing and resulted in the placing of large
! tonnage for structural steel since the
| first of the year. The total sales so far
| FOR 1907 of standard seel rails, including
! the tonnage brought over from 1860.
amounts to over 5000 600 tons A feature
i ..F ts..tt. l. 4. Il.
| has its influence on the metal market, IS
| the increasing demand for light section
/ rails for these newly projected lines.
! There are between seyenty-fiye and one
| hundred thousand tons OF business pend
ing for shipment prior to July and IL is
! going to he difficult to make deliveries
is called for
The demand for malleable Bessemer
| and basic iron seems to be increasing.
! Sales for the week cover deliveries ex-
| tending through the second and third
quarters.
The rate advance from the south to
| points north of the Ohio river, which
| was published to take effect February
]. caused much hard feeling on the part
| of southern producers, who have been
| meeting with unprecedented difficulty In
| Gettin equipments off furnace yards dir
| ing the last two or three weeks. 1t Is
reported that this advance has been de-
| Iiyeu ana VIII not go into erect until
| March 3. This is relief under present
| conditions.
Coke production and shipments from all
| districts has been vastly interfered with
| on account of weather conditions Winter
with vengeance has struck the various
| operating centers, and this. coupled with
! the serious flood In the Ohio valley, has
made the shipment OF fuel very much re-
duced. Coke prices are without change
and there is not much spot coke offerinir
| Contracts covering six months and a.
| years period, are being considered and
several of these have been placed during
| the week