The Birmingham age-herald., 1923-08-04
Daily Business,
 Editorial
Masterful Iron Men
By RICHARD F. JOHNSTON


 Birmingham iron makers have shown boise to point of grimness. Markets in the east went to pieces and prices dropped. Twenty-seven eastern furnaces blew out last month. They could not bear up under cost of production and sales price.
 Birmingham makers have not tried to force a reluctant market. There is but one outcome to that. One drop in stagnant market means another and two mean a toboggan. Time to consider a change in base price is when there is disposition to purchase.
 Some Alabama iron was offered at $2 and $3 under the Birmingham base of $27. That has gone into melters' hands almost as slowly as the $27 iron. There was no rush for the cheaper iron. There never is rush for a commodity which shows an inclination to give in. They do not buy on a downward market.
 A status quo is about to be es- tablished. The Philadelphia district alone bought 125,0 tons of mer- chant iron in July. Greater activ- ity is noted in the entire east Buff falo furnaces who booked 100000 tons. It is much better in Pitts burg.
 Alabama has the same number of furnaces active now as on July l. Merchant stacks did not blow out because they had orders for third quarter capacity. Large melters have not sought the mar ket because they have ordered this iron. Just hiatus, siesta, an in- terregunum, so to speak.
 There is always lassitude around July l. The year takes rest before it goes on another bus mess turn. Business must have inspiration from the new crop prospect before it leaps ahead. There is steady improvement from the low point of July 1 through that month, but it remains for the scene of corn and cotton, hay and sorghum and wheat to impart the real impetus.
 Again the Alabama industrial field has the best of it. It is not the first time that our blast fur naces have kept going as those in the east shut down. It is not the first time that our export and other far afield business has demon- strated the distributing advantages of the Birmingham district.
 The best of it is that Birming- ham business men of whatsoever line maintain boise. They keep their head. They do not govern by the furry of the market fluctuations in between real of supply and demand, but they go by the outstanding laws of their business taught by expe- rience.
 The Birmingham iron maker has gone through trying period. He has shown himself master of him. self. That argues we'll for him and for that which he represents.
 Germany has not been eliminated from world commerce. She does more business with this country than France. Reports of imports and exports to and from these countries for the 12 months end ing June 30 is as follows:
 Germany: Imports from United States, $293,131, ,ooo; exported to this country, $142,4s5; grand total, S436, ,116, ,000.
 France: Imports from United States, 69,145,000; exported to this country, $151,757,000; grand total of $420,795,000.
 Germany must have money to take that much of American prod ucts; seemingly more than France.
 Expert compilers of structural records note the tremendous in- crease in residence building in the suburbs of the American cities. A recent survey of this movement showed that 63 per cent of Ameri- can cities were feeding it in pro- nounced manner.
 The automobile has done it. It has killed distances and revived mans natural love for roominess and the smell of that which grows.
 WOOL MARKET