The Birmingham age-herald., 1911-09-01
SUMMER WAS NOT
 D|SCOURAG|NG First Nationals Review of Alabama Conditions RECORD CORN CROP Alabama's Proportion of Total Cotton Crop Promises to Be Very
 Much Larger Than
 Usual
RECORD CORN CROP

The First National Bank of Birming- ham, in it's monthly financial and com mercial review of September 1 date says;
 "We have reached the end of an un- usually dull, but by no means discour- aging summer. In this district there have been no commercial failures of any consequence. labor has been fairly well employed, our industrial plants are near ly all in operation, and many of those who work into finished shapes various forms of iron and steel report a very satisfactory business.
 Probably record breaking corn crop is now assured in this state, and while there are many complaints of deterior- ation of the cotton crop. and much ap- prehension is felt as to the ravages of the cotton worm, there seems to be no reason to doubt that this state has in sight at least a full average crop. The season appears to have been more fa- vorable in Alabama than it has been in other cotton states, and it seems cer- tain that the proportion of the Alabama crop to the total will be larger this year than is usually the case. Thirty days ago, it was feared that the very large production of cotton then indicated would force the price down to an un- profitable point but there now seems to be no reason to expect low prices this season, as a 13,00o.0OO bale crop, wich many look upon as the maximum pos sible, is commercial necessity.
 The farmers, country merchants and country banks have never been in so strong a position as they are at this time, and there is no question as to the ability of producers to hold large percentage of their crop for many months, should prices this fall prove unsatisfactory.
 The textile trade has been greatly un- settled by reason of the fluctuations In the price of cotton during the past 60 days, and the majority of the mills have been running on limited time Within the next two or three weeks it will be pos sible to figure with some certainty as to the size of the crop, and conditions in the cotton manufacturing trade ought soon to become normal.
 Coal Market Dull
 "The coal market during the summer just past has been dull, as compared with last year. when there was an unexpected temporary demand for coal in this district
 
 of us. The coal trade has been further depressed by reason of the fact that many cotton mills and industrial plants have been running on short time, and their consumption of coal has been greatly re- duced. When this curtailment began all the mines were running full time, so that there was a surplus of coal and many of the mines have been obliged to run on short time during the last three or hC Tbaye tc plraadV hOWaVpr a decided improvement noted in the steam coal market, which should be sustained for some time, owing to the more general industrial operations, and to the activi- ties of the cotton gins and oil mills now about to begin. The domestic coal sit- uation is reported as being in a satisfac- tory shape, and coal operators generally express themselves as expecting large business through the fall and winter months.
 The Cotton Trade
 "A local authority advises us that the presnt advance from the $10 price of pig iron has tended to shut off buy ing for the present. He states, how ever, that furnace companies are main l. taining a very firm position as to the s1O 50 schedule for No. ? foundry, for prompt shipment or for delivery during the remainder of 1911. As to the prob able situation in pig iron for the next 12 or IS months, or until after the next presidential election. we are in- clined to the opinion that pig iron prices will range from s10 to $ls per ton, Birmingham, for No. foundry. With pig iron at $1O, Birmingham, II Is possible that with number of producers of foundry iron here, an approximate cost basis has been reached. Although pig iron production in the United States during the six months ended June 30, 1911, according to figures ascertained by the Iron and Steel association, amounted to only Il .665.796 tons, against 12,324s29 tons in the second half of 1910; 14,- 97s72S in the first half of 1910, and 14,773.125 in the second half of 1909, there is an actual productice capacity in the country of 35.000,000 tons per arnurn that if is not difficult lo