The Birmingham age-herald., 1909-04-23

The tennessee company steel plant at Ensley, which it was thought some weeks ago would be shut down for the want of rail orders, Is not only in operation, but it will continue at work indefinitely. The export order for rails announced last week has been increased, and with improved conditions in general it seems only natural that considerable new business would be coming this way.
 The pig iron market is already fairly ac- tive, and the tone was firmer yesterday than at any time in several weeks past. The Tennessee company, which had been selling iron at $11 on a No. basis, has marked it's price up to s11.5O. The market is now uniform at $11 50, and the tendency is decidedly upward.
 Rogers, Brown & Co.'S Cincinnati cir eular for the current week follows:
 'The improvement indicated week ago in this territory has kept up and is grow" ing in other quarters. Inquiries are more in evidence, the tonnage Is greater and there is active interest in last half buy ing. The minimum price for given deliv- cries i'm both north and south is firmer and there is nothing like the evident eff fort to get business at prices conceded to be below producing cost that has hereto fore existed. Some furnaces are holding out for from 50 cents to $1 per ton above price acceptable to others and frequently getting it on account of popularity of the brands they represent.
 "It is encouraging to note the attitude 1.rr4 41, 1or httx-a m heinz earnestly in the market and purchasing for good round tonnages during the last few days. At present figures acceptable to most furnaces and considering the con- dition of stocks and the probable output during the next three or four months, 1t is hard to see where careful buyers can figure out anything against the advis- ability of purchasing a fairly large part of their requirements at the present time. It seems to be a case of their having nothing to lose and everything to gain.
 Some furnaces have withdrawn from the market, whereas others are arranging to blow out so as to make necessary re- pairs and await further developments. '"The steel business in both structural shapes and rails has been active, and there is reported to be very large ton- mage under quotation for early closing.
 "ConsumptIon appears to be uniform in the main, and with slight improvement. There are a few classes of manufacturers who have been idle for some time. and who are still without any encouraging re- ports but the bulk of the general foundry business is fair and in some special lines very brisk"
 The American Radiator company is f1t- ting up the plant which 1t recently leased here and will begin to melt Iron about June l. This is one of the strongest cor porations in the United States, and owns and operates large plants in the north. It's Birmingham branch will be the only radiator plant in the south. It will give employment to large number of men. The Wall Street Journal of Wednesday contains this:
 Judge E.. H. Gary, chairman of the United States Steel corporation, has dic- tated the following as correction of the statement printed in connection with his talk to shareholders at the annual meet
 ing Monday:
 The United States Steel corporation did not intend to purchase the properties of the Tennessee Coal, Iron and Railroad company up to the time of the panic. After the panic when these properties were offered we negotiated on the basis of a lower price than the price paid but found deliveries could not be made on that basis, and, therefore, finally closed | at the higher price. MT. Prick and I stat | ed to the President that we would not make the purchase proposed except for | the financial depression which existed l which is true, although even at the price | paid we shall no doubt ultimately, by | making additional expenditures, realize l material benefits.' /"