The Birmingham age-herald., 1914-08-26
Mcqueen Says Sloss Com pany Has Booked S6,0O0 TOns-Other Companies
 Sell in Proportion
VERY OPTIMISTIC IN DISCUSSING THE
 MARKET SITUATION
Says Birmingham District Is Not Suf- fering From Effect of War-Iron Broker Says Entry in South
 American Markets Is
 Still Far Off

More than 256.000 tons of pig iron have been sold in this district since August 1. or within 26 days. according to un- official data secured yesterday in local iron circles. That amount of iron at the $25o0,o0O brought to Birmingham this month from the sales of pig iron.
 This tonnage has moved since the war began and is said to be substantial affirmation of the opinion that this dis trict will not be afflicted to any serious extent by the war movements in Europe It is stated that the buying movement which has resulted in the sale locally of this immense aggregate of iron was due to the desire of foundry and other interests to secure iron so they would be prepared for any emergency that might arise by reason of the European con fict
 The local companies are not inclined to make public their sales during the past few weeks. the prices received for the iron or to whom sales have been made. However, there is very rason to believe that the following is conservative es- innate of sales:
 Sloss-Shesfield Steel and Iron company. S6.000 tons.
 Tennessee Coal, Iron and Railroad com pany, 600o0 tons
 Republic Iron and Steel company, 40,- 900 tons
 Woodward Iron company, 7O,0o0 tons.
 Sloss Company Figures Official
 It is entirely probable that the above companies have sold more iron than the estimates credit them with. How ever, there is only one official figure and that is from the Soss- Sheffield Steel and Iron company. As to that tonnage, J.. w Mcqueen, vice president in charge of the sales department. said yesterday that during the present month his com pany had booked orders to the extent of 1000 tons for delivery now and dur ing the next few weeks. He said the price received was in accordance with market prices MT Mcqueen said in addition to announcing the above orders that the situation did not appear at all discour- aging and that he personally was of the opinion that the outlook is exceedingly bright.
 We have no complaint to make
 said Mir Mcqueen '"rhe market
 prices are very good and we have beer able to secure some very good
 orders during the present month We have booked orders so far this month aggregating S6,000 tons. which is, I believe a very satisfactory business for the month of August At least, I hold that opinion
 ''The business conditions elsewhere may be very discouraging or they
 may not. As to that l am not in formed. I will claim, however, for this city position absolutely open and
 above commercial fright. It would
 appear that the iron markets are re-
 ceiving good orders. that the aggre-
 gate tonnage is good and the prices
 remain firm.
 q think the outlook for business in
 Birming ham is very good It appears
 that the industrial companies are go-
 ing on without any cessation and that
 other lines of activities are strong. l believe further that the war abroad will result in Birmingham eventually
 entering the South American mar
 kets and reaping a great harvest"
 Iron for South America In connection with the iron market in Birmingham and the coal situation here, it developed yesterday that South Amer
 
 brokers to let them know what could be done in the way of pig iron ship ments to South America. Local men have been Investigating the South American trade as to iron for some months but nothing definite has been done. It was stated yesterday by Norris Bush of Hammond-By X Co.,, that an inquiry had been received as to what local men could do towards supplying iron to South America in the event the war continued and the South American dealers should become badly in need of l iron
 l A reply is now being prepared. It was | stated by Mir. Bush that the absence of | financial arrangements in South Amer | ca would perhaps prevent local men | from selling to that section. | "The pig iron buyers in South Amer len are accustomed to buying their iron on 60 days to six na0nths' timt,- said MT. Bush. "We sre in no position here to do bushes sthat way as our banks have all the trouble they want from the cotton market and other prOpOsl- tians. If we sold iron tO the South American men at sin months the dis- counts would go through London or Berlin. which will necessitate the loss Of considerable time. We have been asked to furnish information as tO what we could do but I see 1t there In< 1Axu u