The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1908-11-07
Pic IRON TRADE IS
MUCH MORE ACTIVE
tendency of the Market Is
Upward
GOOD BUYING MOpEM EMIT
1t Is Expected That Next Week Will
See Prices Harden at $3.50 to
$f4-Best Week of
the Year.
GOOD BUYING MOg'EM ENT

The pig iron trade is increasing in ae-
tivity and prices are upward. For several
weeks past quotations ranged from $l2. 80
to S1S on No. 2 basis, but since Tuesday
the market has been firm at $13 to $13 90.
A buying movement OF good proportions
is in evidence and it is generally felt that
next week will see prices harden at $IS.5O
to $14
Matthew, Addy & Co.'S Cincinnati week
ly report says:
This week has been the best of the
whole year without exception. There
has been heavy buying all along the line.
Most of the orders have been for small
lots, indicating the general character of
the buying few large consumers have
not bought a few large lots. On the con-
trary, the feature of the situation has
rather been the absence of large orders
and the great numbers of small orders.
Then, too, there was a considerable ton
mage of iron sold subject to Taft's cleo
ton, and that coming to pass made the
orders as good as gold
Prices have felt the stimulus of the
wholesale buying and the market ten
dency is upward. No. 2 foundry is now
held in the valley at $15.25 as against
s145O a week or so ago. In the south
the price of $12.o0 is now a back number
and quotations range from S13 to s14, de-
pending on the individual views of the
seller There is not much free iron in
the south and the situation there is
stronger than anywhere else in the coun-
try.
Consumers are buster than they WERE
There is more real business and the
events of the week have not been en-
tirely based on sentiment. One of our
machine tool customers told us yester-
day that for the first time in II months
he had received a stock order from a
jobber. For that time he had only had
orders for machines that were actually
sold, but here is a jobber who is buy
ing machines to put in stock in his sales
rooms. This is decidedly encouraging.
As a matter of fact, all the trend of the
market is encouraging-the storm clouds
seem to be rolling away and the sun
while not yet shining with monday
brightness is beginning to glimmer
through the riffs.
Rogers, Brown & Co.'S report follows.
Previous to the election quite q large
number of consumers of pig iron ap-
parently decided that the result would
be satisfactory and flood Of orders
poured in, many of them of considerable
size A strong effort was made TO in
duce buyers to give options good until
November 4. In some cases these re-
quests were granted, but refused in
others. .+.s.
The heavy demand continues and it is
apparent that majority of the users of
iron are trying to cover their probable
wants for the first half of 1909. The
furnace interests are divided in their
views as to the advisabflity of booking
business now so far ahead. Some of them
still wish to sell for November and De-
cember only; others are offering for the
first quarter, and the remainder are will
ling to accommodate their regular Gus
toners at price for the first half.
In consequence of the heavy tonnage
booked during the past two weeks a num-
Der of the furnaces VINO nave heretofore
been anxious to sell have found that
their output for a NUMBER OF months
ahead has been disposed of, and have adj
vanced prices SOC per ton The market
is very firm with an upward tendency.
An encouraging feature of the stu
alton is the Increased buying by railroads
and the starting up if some Of their
hitherto idle shops. Specifications are be-
ing received from car wheel makers who
have been holding up shipments, and the
general feeling is decidedly better.
The coke market is more active A
number of large furnace deals have re-
Gently been closed and numerous others
are pending.