The Birmingham age-herald., 1912-03-01
MUCH COTTON SOLD DURING PAST MONTH Encouraging Features of
 the Trade Situation IRON OUTLOOK GOOD First National Banks Monthly Review Points Out That Business Has
 Not Been Seriously Affected
 by Politics
IRON OUTLOOK GOOD

l The monthly financial and commercial review issued by the First National bank of Birmingham is as follows:
 l March l. 1912. Values in cotton have been well sus- 1 tained during the month of February, and there has been a great deal of sell 1 ing by those who have been holding. In l fact. the February cotton movement has been almost as heavy in some sections as the November movement in average l years. According to the Financial Ghron- 1 icle the total exports of cotton from 1 September 1 to February 24 were 7,601 1 16i bales, against 6l39,151 last season. l Northern spinners have taken 1,542 4i2 1 bales. against 1,642S7s last season. and I southern mills have taken 1,232, 600, against l 1.1ss,000 last year. The total number of bales brought into sight since Septem- Der has been 12,196S16, against 10,059327 l last year Foreign spinners have taken about 150O,oO0 bales more than they had i taken at the same time last season, and l their contracts for future deliveries have i been heavy, that there now seems to be disposition on their part to await 1 further developments before making ad- ditonal purchases.
 1 "A general feeling of. unrest is noted all over Europe high cost of living and fexeessiye taxation being assigned as the l cause. In England the most unfavor- able feature is the threatened strike of l the coal miners. about 900.0c0 in num- Der. The foreign cotton trade. there | fore, is in waiting position at present and should these troubles materialize il would seem impossible for the consump- ton of cotton abroad to reach the figures that have been predicted. On the other hand, the northern spinners have moi 1 taken as much as a year ago. Mills are reported to be running on an aver age of about 80 per cent of their capaci- ty. It is conceded that there Is a sur plus of about 100000 bales in the present crop, and the future course of the mar ket depends greatly upon the pfepara- ton and prospects for the new crop Owing to the severe winter the first oi March finds practically no preparatior for planting except in Florida and south ern Texas. In Alabama fertilizer sales are reported as being from 25 to 30 per cent less than last year. and the farm CTS are from 30 to 40 days behind in 1 the preparation of land. The crop will be backward and will have to encounter all the dangers attendant, upon lalt crop.
 Iron and Steel
 "A local brokerage house reports bus | I |, ing far from bad during the month 0 |, | February. The statistical position in irol Is strong, and prices are firm at BIO. 2 to slO.5O basis No. foundry, for deliver. over the first half of the year, and slo.b minimum for the second half The sever weather all over the country for severa weeks past has retarded all outside worl but there has been strong demand fo Shipments on orders, and reduction O stocks on furnace yards. During tn past SO days southern stocks have beei } slightly reduced, and buying move ment of large proportions Is expected b. many in the spring. The market In fin ished products is weak in some line and strong in others, Plates. bars am shapes are weak, and wire products ar strong. Orders on the books of tn American Steel and Wire company ar reported to be the largest In its his tory. There is pronounced car short age in the north which gives color t the reports that the railroads are abou to place large orders for equipment. Thi would result in increased demand fo bars, plates and shapes and would hav q beneficial effect on all steel and irol products. The continued cold weathe has made the coal business unusual. good. Local yards are bare and tn actual consumptive demand is extend ing over the period when the stoekin, demand usually commences. There is a, unusual amount of building in evidenc, for this season of the year. and ther, will undoubtedly be a. still further ex pansion in building lines with the open
 ing of spring. In merchandise lines botf iobbers and retailers report a satisfac tory business and altogether the stua tion locally is far brighter than a veal ago.
 "The London Statist is authority fol the statement that in round figures fh. | SOiu BlVdhNliol bi iHt NoTlu Oufl1lS Ins year 1911 was s5o0.0Oo0oo, which compare, with an estimated production in 1881 o si02, ,5o0,o00. This enormous production i. undoubtedly having an effect upon req estate and commodity values. and i. partly responsible for the high cost o living. which is noted throughout tho world.
 Politics and Business
 1 stllpSipeSS hoe C.. affected by the political activities incident to the pending elections The Stanle, committee has brought out some enter taining "reminiscences of the early days of the steel industry. and the investiea. tion of the so-called money trust by the House committee on banking and currency will no doubt bring to light some interesting facts regarding the pro. motion and financing of large corporate C enterprises. The contest for the presl. dential nomination of both parties Is be- coming acute. and at the moment Colo nel Roosevelts announcement is being more widely discussed than any other single topic We see no occasion for bus mess interests to be disturbed by cur rent poiitieal developments. and we fail to recall an instance where radical ideas have been forced upon this country. be. fore the people were ready to absort them. David Harum remarked that "a reasonable amount of fieas is good foi dog they keep him from broodin' over bein dog and so moderate amount Of political agitation is not harmful tc business interests. as it keeps them from becoming too self centered and arbitrary There are many strong features in the situation. such as the satisfactory con dition of our foreign trade, increased volume of exports over imports, large bank deposits all over the country. abund-