The Birmingham age-herald., 1907-05-11
.PIG IRON MARKET
 IS VERY BULLISH
Birmingham Sales Are Report
 ed at Fancy Prices
DECREASE IN PRODUCTION
Eager Demand for Late Fall Delivery. Higher Prices Now Predicted. Spot Iron Will Look
 Cheap at $25.

Cheap at S25,
 The Birmingham iron market was re- ported yesterday more active and excited than usual. While most of the large com panies have sold nearly all their output for the last quarter, contracts for late fall delivery are said to have been made at fancy figures-$22 on a No. basis. Spot iron is relatively higher and some brokers are inclined to think that $25 for prompt delivery will sound cheap before another week passes.
 Production in the Birmingham district will show a decided failing off for the first half of the year. compared with the first six months of 19o6 This is not due so much to labor scarcity. As a matter of fact the labor situation is much bet ter than 1t was this time last year. But various causes contribute to the decrease in output. Several furnaces are out of blast for repairs and several others are shut down on account of mining develop ments not being sufficiently advanced to supply all the needed raw material.
 Rogers, Brown & Co., Cincinnati report says:
 Increased strength and higher prices are again the feature of lively pig Iron market. Steady sales in large quantity during two weeks past, have brought many furnaces in both the north and south to a point where they must with draw from the market for the third quar- ter and in some instances, balance of the year delivery. All this has resulted in advanced figures on southern and north ern brands of 50 cents and Sl a ton. Sev- eral sales have been reported as being made for early part of next year. Con- ditions generally, are better and the out look for the balance of the year appears more certain than at any time heretofore. For two or three months past, the idea has been current that there must be business contraction of some kind in this country in the near future and some gloomy feeling in certain quarters was developed. Now, however, it can be claimed that this sentiment Is past Those consumers in various lines who have been putting off purchasing until the very last moment in the hope that lower prices might be obtained, have been mistaken in the inherent strength of affairs and furnaces have been in a position where they did not have to press matters. The result has been a resumption of buying, the direct result of necessity for so do- ing and this natural impetus has been felt throughout the entire business world. Steel makers report considerable activi- ty in structural shapes and business for rails continues right up to the mark for all that companies are willing to under take for 1907 delivery. The booking of orders for 1908 has begun and the outlook Is favorable.
 An indication of the unusual activity in manufacturing In this country Is statement covering the importation of foreign materials for use by American manufacturers during nine months end ing March S1 The value of such imported materials, crude or partially manufac- tured, for 1907, is more than one hundred million dollars larger than any preceding year. Last years same group of im- ports showed about sixty-seven million dollar increase over the year before.
 Car makers are having more business submitted to them than they can handle, which is particularly true of steel car makers, recent heavy business having broken all records.
 Coke continues without change. There is a good supply available and movement Is easier.