The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1912-07-02

as follows:
July l, 1872
1.-The first half of the year has closed
with marked Improvement in the iron
and steel business. and with some better
ment and hopeful feeling in nearly every
line of trade and industry. The adverse
conditions affecting crops which We're in
evidence six weeke ago have been over
come, except in portions of the Missis-
sippi valley. and conditions in this state
are now fully up to a ten year average.
Some apprehension is being expressed
as to tho probable ravages of the army
worm and tho boil weevil, and as the sea-
son advances there will no doubt be much
complaint as to these pests. Unfavorable
factors. however, are generally exag-
gerated, and while it is too early to make
a prediction as to the final outcome, we
see no reason at the present time to doubt
that a good average crop will be made
in this state, both of corn and cotton.
Basic conditions all over the country are
sound, and money rates still continue
low, although indications are multiplying
that there will be an active demand at
higher rates in the fall This will particu-
| larry be the case should the yield of cot
| ton prove to be above the average, as
the success of the holding movement, last
year will doubtless stimulate the farmers
+, to hold again this seaon should there be
| a break in prices. The surplus of the
crop of 1911 will not be nearly as large as
was anticipated. Unless there should be
an unexpected falling off in demand from
the spinners, we are confident that the
south will succeed in selling the coming
crop at fair prices, and feel assured of
the disposition and ability of southern
banks to furnish any financial aid that
may be necessary to market it properly.
Pig Iron Firm
1.-THE Birmingham pig iron market is
very firm; spot sales are being made on
a basis of s1150 per ton for No 2 foundry,
and the larger interests are quoting $12
for delivery in the fourth quarter. These
figures are above the northern parity.
but are accounted for by the heavy de-
mands of the cast iron pipe manufact-
urers. The steel market is strong. and In
the last few days there have been ad-
vances in tho price of structural steel
and steel bars of 81 per ton: 50 per ton
In steel billets and steel shaftlng; 81 per
ton In steel bands, and So per ton In steel
rivets The rail mill at Ensley is reported
as running on double turn, and the state
ment had been made that orders in hand
are sufficient to keep 1t running on full
time all summer.
1.-THE close of panic period and the
beginning of new boom era is usually
marked by the elimination of weaker con-
Germs which have been struggling for
years under adverse circumstances. The
receivership of the Alabama Consolidated
Coal and Iron company is a case in point,
and the reorganization of that company
and of any others similarly situated is a
logical development, which will hasten the
return of good times in the Birmingham
district
Real Estate Dull
1.-THE real estate market is compare
lively dull, having been disturbed by the
heavy raises made by the state tax COM
mission and by the tax commissioner of
Jefferson county Many of these cases
have been compromised, however on a
reasonable basis. but some of
them have been appealed. so that
1t may be several months be-
fore final adjudication is reached.
Should the proposed assessments be per-
mitted to stand. the revenues of the coun-
ty would be SO greatly increased that a
reduction of the county tax rate might
we'll be considered. The board of revenue
has called an election for August u,
to authorize an issue of Jefferson county
bonds to the extent of s1,1oo,ooo to bear
interest at the rate of AZ per cent, and
due in 80 years; s1,0oo000 of this amount
to be used in the erection of a court
house and Jail at Birmingham and a
courthouse at Bessemer, and 100000 to
! be used In adding to the Hilman hospital.
which has been owned by the county for
several years past The object of this
issue are most meritorious, as these adj
ditional facilities are imperatively needed,
and IL is hoped and believed that the
voters of the county will authorize the
issue.
The present court house was built Is
years ago. when the population of the
county was about one fourth of what it
is now. and is entirely inadequate for
present needs. II is not of fire-proof con-
struction. and all the valuable public re-
cords are liable to be destroyed by fire at
any time. Should these records, espec-
tally of deeds and mortgages be destroyed
untold loss and confusion would result,
but all danger of this can be obviated by
a new building. in which fire-proof vaults
can be constructed for the safe keeping
of these records. The present Jail is I'M
sanitary, and is menace not only to the
health of its inmates. but to the public
generally, and the state health authori-
ties have peremptorily ordered a new one
built. The Hillman hospital was also
constructed several years ago. and is to-
upon its present capacity. so there is
every reason, both from practical and hu-
manitarian standpoints why the voters
should authorize the bond issue for these
purposes.
Effect of Conventions
1.-The sessions of the national conven-
tions of the two great political parties
during the past two weeks. have natur-
ally had quoting effect upon business in
many lines, but 1t is remarkable how
small an effect all the political turmoil
through which we have been passing for
several months. has had upon legitimate
business. As this review is written 1t is
impossible TO predict the result at Balti-
more, nor is it possible TO estimate the
strength that Mr.. Roosevelt will be able