The Montgomery advertiser., 1909-10-18
AND STEEL REKzE "

Birmingham, Oct. 17.-(Special.)-- While the selling of pig Iron m the Southern territory has been naiteo little because of another advance made in the price for the product the man. ufacturers are not in the least worried and are stfli answering promptly all inquiries. There Is no doubt but that the need of iron will aggregate well and the buying will start in before long despite the high price.
 No. foundry ts now being held on minimum basis of SIS per ton with $15.50 being asked for delivery during the first quarter of the coming year. There Is not a great amount of imme- diate delivery iron to be obtained in this district though the furnaces in op- eration are doing splendidly in the way of production.
 A most interesting incident took place few days ago when meeting of the prominent iron manufacturers and coal operators was held for dis cussion of conditions in the iron and coal markets. It was announced after the meeting was over that practically all of the business transacted was a depreciation of the runaway iron mar ket Idea. that the sudden advancing of the quotations did not bring about as much good as a steady increase in the prices and that the manufacturers did better In the long run with. moderate price than with the large quotations. Fifteen dollar iron was talked of as good profit-making price. Attention was called to the fact that there was much iron now being handled out of the district at a rate of from g to $4 under the prevailing price.
 Two or three companies in this dis trict continue to announce being out of the iron market so far as the defiv- cry for this year is concerned The make is improving right along. The weather has been most favorable for a happy output at the furnaces in blast In operation just as quickly as they are ready for the torch.
 Complaint has been made by some of the manufacturers in this district that trade papers have been taking the low est quotation possible for iron manu- factured in the Birmingham district whereas. the Iron is not to be had at some of the prices they are making public. An explanation has been off, fered that correspondence through this district has been from brokerare of- Aces and that the sentiment, bui1ish or bearish. is expressed
 The manufacturers in the Birrrirr- hem district are pretty near together on the s15 Der ton rate. No. foun- dry. while some reports have eone out that s14.5o per ton is a prevailing he- ure. One Of more pessfnistic iron men in the district who Is at the hpad of the most successful company in this district at the same time. e company that has less than : 00o or 5000 tons of iron on hand. In expressinV his dep- recation of the sudden advancing of the iron market. exultingiv remarked 'I am willing to sell 100000 tons of sNa. ..N. Yzas &aS
 ton." When asked if he was selling any iron for this years delivery. he said that the probable make had been pretty well covered He also asserted that the buying for the second auar- ter of the coming year had not yet started in and he intimated that he could not say when 1t would. He de- nied that there was any Iron selling at $1f.5o per ton, delivery during the first quarter of next year. 80 far as his company was concerned. anyway.
 There will he no increase Tn wages for the laborers at the iron or steel plants or in the coal mines for a while at least. It is not denied that large proportion of the iron that Is now being delivered from this district is iron that was sold at SIP and even shipped out there will hardly be any general advance in wages to the men. Every effort is being made to get out as much Of the high priced iron as possible. -s
 There is no telling when the iron nrice advancing will stop. The SIS En per ton rate has caused a halt in the buying for a while at least.
 Tn the steel circles in this State great activity is noted at Ensieyn where the big piant of the Tennessee Cool. Iron and Railroad Company is located. The Tennessee Companv has let contracts for the construction of two additional open hearth furnaces at the big steel plant which means that there will he an appreciahle increase in the outnut when the additional plants have been put in. The orders on hand for steel rail will reouire steady operation of that part of the plant that has been in operation now for some time through several motnhs at least.
 Statements made few days ago re- iterate the semi official announcements made some months ago that recommen- dations had been made by President George G. Crawford. of the Tennessee Coal. Iron and Railroad Comnany. for improvements and developments which carried with them appropriations amounting to something like $15.00O. 900 to $17000. 900. and that these recom- mendations had been favorably receiv- ed by officials of the United States Steel