The Birmingham age-herald., 1912-08-29
BUYING UNCHECKED BY PRICE ADVANCE Orders Pile Up Faster Than
 Deliveries SOUTH E RN IR ON Foundry Company, Places Additional Order of 25,0O0 Tons With Ala bama Producer-RecOrd for
 Export Business Promised


 l Cleveland, August Special. The
 Iron Trade Review tomorrow will say;
 Steadily advancing prices of pig liron | have not checked buying, which con- tinues to be very heavy In finished | lines greatest possible productions is being turned out and every effort is being exerted to hasten deliveries. In | spite of all efforts, however, orders pile l up more rapidly than shipments are
 made. Most important sprice advances of the week were in wire and wire
 nails bolts, nuts. rivets and spikes. Iron and steel export business prom ises to establish new record for this year. The steel corporation will prob ably export 2,500000 tons. Trade con ditions in foreign markets remain very strong and active. In all finished lines heavy tonnage continue to be placed. Consumers are hastening to get under cover for their requirements through periods of the next year, especially for the first quarter.
 Nearly all manufacturers are slow to commit themselves for delivery after the first of the year. The American Bridge company has enough business on it's books to warrant practically full operation for six months.
 A very favorable feature of the pres ent situation Is the absence of specula- tion. Of orders aggregating 5000, 900 tons on the book of the Steel corpora
 ton about2 800, 900 tons represent spe- cifications. The Steel corporation continues to book new orders in ex- cess of shipments, and one leading eastern mill during the past week booked 50 per cent more tonnage than it was able to ship. Purchases of pig iron by leading cast iron pipe inter ests during the pass two weeks are estimated at fully 100000 tons. | In addition to purchase of 6o,000 tons | from the Tennessee Coal Iron and Rail road company reported last week, the Limited States Cast Iron Pipe and Foundry company has taken 25,o00 tons from another Alabama producer, also
 on basis of $12.50, Birmingham A southern steel company has purchased l 5000 tons on southern basis for de- llivery during the first half of next | year at SIS, Round lots basis, aggre- gating fully 20.000 tons. have been sold
 at Philadelphia The Pennsylvania
 railroad has closed for 1O,S00 tons for
 delivery at Altoona this year An of-
 fer to purchase 27,000 tons of Besse-
 mer at $15, Valley, was refused | New York, August -(Special.) J. | The Iron Age win say tomorrow Broadening activity in pig iron has
 been the pronounced feature of the market for the past week and the buy | ing movement now under way is one of
 the largest in years. Prices are up in all districts and heavy sales have been
 made at the higher levels for delivery | in the first quarter and the first half | of next year
 | A large factor in the buying in the central western markets has been the | iron taken by malleable and other foundries manufacturing railroad equipment.
 l The s12.50 price for southern iron for next year is well established and some sales have been made by southern fur naces at SIS for the first quarter Ohio 1 furnaces have advanced foundry iron prices 25 to 90 cents.
 l The situation in finished material only accentuates what has existed in
 recent weeks. The Steel corporation | with roundly 6,000,000 tons of thrilled | jper cent of this tonnage. It's rail or ders for 1913 are now about 350.000 | tons. Other rail companies are nego- l tiarlng also for next years business. | Prices for bars, plates and struc. tural steel are unchanged, with the l quotations of the leading interest about | s1 ton below those of Independent lcompanies. Little has been done for lla13 as yet. The discouraging of pre- miums has tended to prevent precipi-
 tate covering for the distant future.
 as fear of sharp advances has lessened h. A s1 advance in wire prices by the I leading Seller brings wire nails to $1.70.
 A Gentle Hint
 | From the Boston Transcript.
 swhat are you cutting out of the | papsr?'
 About a California man securing di- 1 vorce because his wife went through his 1 pockets.
 1 What are you going to do with it?''
 Put it in my pocket.~