The Birmingham age-herald., 1921-05-02
IRON MARKET IS REPORTED ID BE IN
 BETTER CONDITION
Resume of Industrial Coalition Reveals Signs of Improve ment - Bank CIearings
 for April a Surprise

Simultaneous with another low point of production the iron market everywhere is reported in better con- dition.
 The New York Journal of Com- merce says: >"The gross volume of sales is still light and cannot be con- , sidered satisfactory, but the number of inquiries and resultant small sales is increasing and denotes that the foundries as a whole are running short of material"
 Of the steel mills, the same high au thority says: 'The steel mills are buster than they have been for some capacity has increased until in some lines, as in sheets, it is estimated to have reached close to 50 per cent"
 Pig iron business of the Birmingham district last week was marked by many sales of small lots. One maker booked loads to 100 tons and one order for 5J0 tons.
 Prevailing base is s23 and makers are holding with more firmness than at any level since the decline from the $42 peak began.
 BESSEMER FURNACES
 Putting the two active stacks of the Tennessee at Bessemer on the temporary idle list is not significant. One of these stacks was on foundry iron, the other on ferro-manganese. The production or ferro-manganese is always intermittent, because it is easy to accumulate more than the steel mills at Fairfield and Ensley where it is consumed, for the time being may need. Foundry furnace activity has resulted in an accumula- tion.
 Alabama iron production Is thus re- duced to eight stacks, the five of the Tennessee company at Ensley on steel making iron and one each of the Sloss- Sheffield, Alabama and Woodward Iron on foundry. This establishes a new low point of production.
 GULF STATES STEEL
 Definite announcement of the Gulf States Steel work schedule has been post ed at Gadsden. Blast furnace is to re- SDme Monday, Mdy J, ana four OI enS open-hearth furnace two days later. Blooming mill is to run three to four days per week and other departments to continue as now. The notice says that resumption at the idle departments is ito keep the forces intact more than on account of any improvement in business. At the same time the improvement in the steel business in April was marked The Gulf States bar and wire mills are of car, apifN compared with a low of 10 per cent April bookings were around twice those Of March, The improvement is credited to the building movement in its reflected demand for steel products.
 STEAMSHIP LEAVE
 Steamships Howick Hall and Selma City, corporation vessels, leave Mobile this week with Birmingham steel rails and plates for China, Japan and the orient at large. The Anniston City, lat est product of the Chickasaw yards, will make it's maiden voyage to the Pacific coast, touching at all important points from Los Angeles to Vancouver. It will carry steel products and cast iron pipe. as well as all other cargo that is offered. National Cast Iron Pipe company has secured orders for 300 tons of water pipe for Toledo and 250 for Akron, Ohio, ana < the American Cast Iron Pipe company l has orders for 150 tons each for Rochester, Minn,, and Fondulac. Inquiries for pig iron by pipemakers during the week in- dicate need of iron for pipe making.
 COKE TRADE
 Founrdy coke trade continues more ac- tive. Some additional ovens have blown in Current capacity of production IS moving promptly. Foundries seem 10 be getting out of coke as well as pig iron. Low price on standard foundry ;c under the peak.
 Seventeen soil pipe shops in Alabama are now in operation. None IS on fuii turn, but the activity in the building trades seems to justify the many re- sumptions that have taken place. The schedule is $50 per ton, which Is one-haif of the 1920 high price.
 Building brick plants are about to re- sume An order for S00,o0O brick for a hotel at Orlando, Fla, is one of those recently received.
 BANK CLEARING
 Financial circles were surprised ana gratified on noting that April bank clearings ran more than $S,OOO,00O over those of March, thus reversing the cus- tomary order. This April has established a new record for that month and indi- cates substantial improvement oNei March conditions.
 Investment in new corporations for the four months of the year show over $S,OOc,- GOO. which establishes new high record there also
 The Alabama Power company sold more of it's T per cent preferred stock in April than in any other month since last Au- gust.
 Waterworks company is meeting with distinct success in sale of its preferred cumulative per cent stock.
 Alabamians have bought more sound securities issued by their own substan- tial concerns recently than ever before.