The Birmingham age-herald., 1909-04-03
MORE FAVORABLE
 SIGNS IN MARKET
ORDERS FOR SMALL LOTS IN- CREASE IN NUMBER AND THERE APPEARS MORE LIBERAL PUR- CHASING OF COKE.

Little change is noted in the local iron market.
 Matthew, Addy & Co.'S weekly report says:
 There have been some more favorable signs this week. In the first place, there has been more buying of iron. The pur- chasing has not only consisted of the same old small lots that consumers had to have or quit, but there have been some large orders placed by the very heaviest users in the market. They have bought because they have been tempted by the extremely low prices which have been offered Apparently one or two of the large furnace companies have concluded that the only way to start buying movement was to make prices so low that 1t was cheaper to buy iron than to go without it; in fact, to make prices so low that it would be almost criminal to 6eclne to take advantage of them Two or three weeks ago, when these bargains were first offered consumers seemed to be afraid of them, but consumers now have begun to take them up, so there is fair prospect of the situation beginning to clear in this manner Of course, there is no question but that the prices which can be obtained now, whether on northern or southern iron, are below the cost of production.
 Another favorable sign is the fact that there has been more liberal purchasing of coke and also a request for faster shipments on coke orders. This undoubt- edly means that more iron is being melt ed It is little too early possibly to say this definitely, but coke is one of the very sure indications of a resumption of actual business. When coke shipments fall off iron is not being melted, and when ship ments of coke increase it means the melt ing of iron is increasing. Of course, things have been so bad recently that there could not be any change except for the better"
 Rogers, Brown & Go. send out the fol- lowing review for the week:
 Enquiries for pig iron during the past week have been rather more numerous and for larger amounts with delivery ex- tending throughout the year. Most of them have apparently been for the pur- pose of testing the market and ascer- taining whether or not the rumors of ex- treme low prices are true. Not many deals of importance have been closed, for the large buyers seem to think that rather than to decrease production by shutting down blast furnaces the producers will take on business for the last half at less than cost. The generally expressed senti- ment of blast furnace companies, how ever, is that they will blow out their stacSs and remain idle rather than to at tempt to meet competition of the lowest priced sellers.
 'Tbe largest reported transaction Is an az gregate purchase of 10000 tons of basic iron in the St. Louis district ''While there has been a sharp decline in the price of southern iron, the statistical condition there indicates that the fur naces are in better condition than else where, most of them having practically no iron on their yards and fair tonnage sold ahead. It Is thought that @ few large purchases would materially change the views of some of those now most anxious for business.
 "The coke market is unchanged"