The Birmingham age-herald., 1919-03-15

Judge Gary. chairman of the
 board of directors of the United
 States Steel corporation, yester- day set at rest the rumors of the
 Woodward Iron company being
 absorbed by the Steel corporation.
 To an Associated Press representa- tive Judge Gary stated that there was no truth in the rumors. That should put quietus on the talk that has been heard in Birmingham recently
 Conditions in the iron and steel mar ket have undergone no material change during the past week. few Wiron sales of small tonnage are reported at the ruling quotations, but consumers are evidently holding off for lower prices in the hope that this will be realized Ill the near future.
 Local iron making companies, how ever. show no dispotition to shade prices very much, if any. preferring to bank their furnaces and await the re- turn of normal conditions rather than sell under prevailing prices or pie up stocks on their yards. They say there is very little profit in pig iron at Sol ion and to accumulate large stocks now might cause heavy losses later on.
 At the present rate of production, If maintained through the year, Ala bama's coal output in 1919 will fall several million tons under that of 1917, the record year. According to reports made to Chief Mine Inspector Charles E. Nesbitt the output in 1918 was less than 19,00O,000 probably nearer 1S,cOo,- 900 tons. which is about 100000 tons less than 1917.
 Production during the first two months of the present year was et the rate of about 16.o00,000 tons de- crease of over 100000 compared with 1917 and 100000 reduction from last years output.
 MT. Nesbitt has not received com plete returns from all the mines 50 far, but those not yet reporting are scattered and of small capacity. He expects to have complete reports Tn hand within another week or so.
 Summarizing iron and steel mar ket conditions for the week ending last night, Rogers, Brown & Go. of Cin- cinatti, say:
 "Pig iron sales consummated the mast week were of small tonnage and for prompt delivery. One purchase. however, was in evcess of 1000 tons or foundry iron for immediate shipment. It is believed that other such pur- chases will be necessary at an early date and that other than foundry grades will be involved. Some foun- dries are we'll stocked with Iron Tor several months; others are at low tide, buying from time to time as their re- quirements demand.
 'The general feeling prevailing or future reduction in prices is no doubt < of npntipned inactivity. ln- til something really develops from Sec retarv Redfields proposed plan of stabiIization, there will, apparently, bo little change.
 '@rhere is some increase in jobbing foundry business. This is particular ly true of those foundries catering to automobile work, most of which are running we'll some of them full. The heavy jobbing foundries, machine tool builders, etc. are not picking up very fast. The light casting makers are showing some improvement, but It Is slow.
 owing to additional furnaces going out of blast, the production of pig iron for the month of March will be less than during February, even though that was short month. What the out put for the current month will pc cannot be closely estimated at this time in View of reports of additional furnaces contemplating going out or blast Scrap iron prices are somewhat on the ascendency. This advance, II continued will no doubt encourage ths return of foundrymen to normal prac- tice, involving a larger percentage Of pig iron in their melt.
 ''There has been a slight improve ment in the ferro alloy line. several ln- uuiries developing into orders. The tonnages, however. were small Sil- very iron is in better demand than the Bessemer ferro silicon grades. there be- ing virtually no inquiry for the lat ter.
 "There has been no change in coks conditions other than occasional 1n- auiries for spot shipment foundry fuel Through the banking and blowing out of a number of blast furnaces, sur plus of furnace fuel has been on the market but to meet the situation. coke operators are putting out additional ovens