The Birmingham age-herald., 1919-02-09
IRON MARKET IS } UNCHANGED HERE:
 OUTLOOK IS GOOD
Several Furnaces Are Idle, But Foundries Are Running 50 to 75
 Per Cent

No material change from a week ago is noted in local iron market conditions, with furnaces continuing to work on orders booked prior to the cessation or hostilities in Europe, and no consider able amount of new business in sight for the immediate future. Foundries are running at from 50 to 75 per cent of capacity and inquiries coming in recently encourage the belief that busi- ness will improve before very long.
 Several furnaces are idle, about the same number as a week ago, and it is not likely that any of these will be started up within the next few weeks, or at least until there is some indica- tions of an increasing demand for their product.
 ROGERS, BROWN & co. SAY
 In their weekly review of market conditions Rogers, Brown & Co. of Cincinnati, says:
 Pig iron buyers continue to main- tain their apparent policy of purchas- ing what is actually required This is evidenced by the peculiarity of speci- fications as to tonnage and analyses. Hesitation in buying ahead is doubt less due to tho feeling that a fur ther reduction in price will be made. Blast furnace operators contend this is hardly probable until the cost of producing is lowered. With few excep- tions, furnaces are contracted until July for their ore and coke supply, at which time it might be practicable to cut present prices, but there are some who anticipate a more settled condition in the early summer than prevails now. While some foundries are operating at full capacity the majority are melting on basis of about 50 per cent. When the cancellation of so much govern ment business is considered on which most foundries were working conditions are better than might have been eX- pected.
 "A better feeling prevails in the east with respect to machine tools. Orders are coming in, both from abroad and domestic buyers. Information is ob- tained from reliable source to the effect that the published estimates of the value of surplus machine tools are really In excess of the facts. One maker claims to have just received or ders from France which will occupy his capacity for four months, and is now on full time, with only mod crate reuuctlOn III IOrce as to men. Another has received orders which will enable him to operate at maximum ca pacity, while one, who is at present in Europe, has already sent back con- siderable business, and has suggested that his foundry get prepared for 1916 rate of production, which was about 50 tons daily.
 "The coke market is dormant; small lots of Connellsville furnace and foun- dry fuel have been placed at prices under those in effect prior to the cessa- tion of the fuel administrators func- tjoninS. This is brought about prin- cipal1y on account of a number of blast furnaces banking, or going out of blast, and, furthermore, some foundries finding they have sufficient stock to carry them for the next month of two, with consequent requests to suspend shipments on contract.
 '"The alloy market N likewise inac. tive, and until better condition ex- ists in the steel trade it is not thought any large buying will prevail