The Birmingham age-herald., 1913-04-24
CONDITIONS IN
PIG IRON EASIER
Quotations Are Rapidly Ap-
preaching Cost Line
MARKED HESITANCY
Large Iron Purchase at Birmingham
Rumored-Yalley Iron Seems To
Be Headed for the SIS
Quotation

Cleveland. O., April 23.-f Especially
Iron Trade Review today says: Con-
ditions in both pig iron and finished ma
terials are easier as to specifications and
new business. There is strong evidence
that The melt of pig iron and consump-
ton of finished materials has not been
decreased, but buyers cannot be CON
WINGED Of the wisdom Of placing further
orders at the present time. The promi-
nence which has been given to tariff
discussion recently has undoubtedly had
the effect of increasing the hesitancy Of
buyers as the debates continue through
out the summer they will probably have
less effect upon the market
Quotations of pig iron are rapidly ap-
preaching the cost line, unless there is
change for the better soon, blowing
out of furnaces viii probably be started.
AS long however, as there is no indi-
cations of decrease In melt, and the
stocks of pig iron on hand drain, there
will be no reason for taking a pessimis-
tic view. The stocks of pig iron held by
furnaces in the central west are now
about one-half of what they We're year
ago and the reduction steadily continues
Statistics for March show reduction
of 10000 tons in the stock of the Virginia
Iron, Coal and Coke company, while some
other makers slightly increased their ac-
cumulations. A persistent rumor is that
a leading agricultural interest has pur-
chased 10000 tons of southern iron at $12
Birmingham for No. .. This has not been
&c avid of
siderable quiet figuring on important tom
nages.
The pig iron market in the south and
southern Ohio is weak, and prices have
declined
An increasingly large tonnage of Ala
bama and Tennessee iron is. to be had
at sl2. Birmingham. for delivery during
the next three months. Valley iron is
headed for s15 and some sales have been
made at only 10 TO 10 cents above that
figure
All parties concerned still decline TO
make public the explanation recently
given for not completing the plant of the
steel corporation at Corey, but the cor
poration continues to plan expansion III
the parts of the country and has decided
to enlarge its steel works at Duluth, now
building, by adding three additional open
hearth furnaces, making 10 in all. Addi-
tional construction at the plant at Du-
luth involves about $1000,000, which has
been appropriated. The export market
In steel products continues very active.
Inquiries for large tonnages of railroad
material for shipment to South America
are pending. The Tennessee Coal, Iron
and Railroad company has booked 5000
tons of southern pig iron for Shipment
to Mediterranean points on the basis or
s12.25, Birmingham, for No. 2. The cor
poration has booked 1000 tons OF bridge
material awarded by the Japanese gov
ernmeut Manila. Railways are inquir-
ing for 5000 tons of rails. Additional sales
of about 10000 tons of steel bars have
been made to implement manufacturers
in the Chicago district for delivery to
July 1914.
This has been done in spite of the
determination of some makers not TO sell
for delivery after January l. Bar iron
deliveries are being made more promptly
and prices in some sections are easier.