The Stourbridge Observer, Cradley Heath, Halesowen & District Chronicle.
Stourbridge, West Midlands, England, 1869-01-16 00:00:00

THE IRON TRADE.

IRONMASTERS' QUARTERLY MEETING.

The Quarterly Meetings of the Tronmasters
of this district commenced at Wolverhampton,
on Wednesday last. The attendance was larger
than it has been of late, and, in addition to those
interested in the immediate locality, several dis-
tant firms (lawyers) were represented. The pro-
ceedings were almost exclusively conversational;
but on all hands it was admitted that the pros-
pects of the trade are better in every respect
than they were twelve months ago. At that
time nothing was foreshadowed but the languor
which spread over so many succeeding months,
anti the feeling of depression was increased by
apprehension of impendiug, failures which actu-
ally occurred soon after Quarter-day. At the
present time matters are very much changed in
that respect, for although there is not much
probability of immediate animation, it is toter.
ably certain that there will be a sufficient demand
for iron to maintain a steady trade, and to keep
the works pretty well on. It is believed also
that Smith Staffordshire has undergone such a
weeding in the course of the last two years, and
that the facilities to luunch out iminederately
have been so much curtailed, that the district is
in a sounder state financially than it has been
for a long time. Such was the tone of the di--
en-coin at at the meeting on 'Wednesday. The
banka have the ma'am:lnce of this position very
notch in their own hands ; mainly they are res•
pondble for pa 4 disasters by enabling the e'Bs;
who ar.) speculative and reckloss, to eatry on
their pine. It L.; pretty certain, however, that
ther,7 will he uo no:urn:nee of that folly for the
next few y 0,11'3 that is, until roe( re caenrretti-es
are in due course forgotten, an.l tl.e advert 11:-
ow class again succeed to power.
Very few transaetions are rep.-trtel it having
teseu plaee at Wednesday's mewing, lint the
C •lifidenee of e, nsnini rs has hen manifesto I
within the lost day or two by th hoire
orders reeei red hsi ye?Al of the pr i el ill firms,
and a firm belief was entail:tined that a fair
amonot wean be done at Itirriingluun on the
following day. Op, rations IItIVO aISO 130,11 IT-
new° I at son, the Bilstoa iilda, but it
twist ha 1 - ,I that It war) of ti,, iii I
11,-ye been et Lick. g until me: n'ly in lb r f arts
of the district. Pra2es are still inuc co tipninced
of

There lea steady dematil for pig-iron, of the
make of this district, and the prive is a little
higher than it was last Qaarter-day.

The chief of the series of ironmasters' meet-
ings for the current quarter was held on Thurs-
day, at the Town Hall, Birmingham. There
was a very large gatheaing, and we believe many
of the principal firms in the metropolis, Man-
chester, Liverpool, Yorkshire, Bristol, were
either present or represente I. Some of the
contracts for mannttetnred iron which are usu-
ally given out at this period were distributed,
but the aggrekate of business was not large.
Merch-nts and shippers at outports are not buy-
ing to any extent as yet. The range of prices,
as fixed at the preliminary meeting was con-
firmed. The price of bars now is £7 at works ;
other sorts in proportion. Buyers are taking
boiler plates and thin sheet iron rather freely,
and nail rods and merchant iron are in fair re-
qnest ; but other descriptions of finished iron
are not active. There is not quite so much do-
ing in pigs. Makers of hest native brands aro
pretty well sold through the next month or two,
hut the attempt made to put up prices beyond
recent quotations has not succeeded, if we may
judge from the transactions in pigs on the floor
of the Hall en Thursday. The prospects of the
trade are doubtless better, hut we still hear of
complaints of unremnnerative prices among the
houses engaged in rolled iron. One of the most
interesting features of the meeting on Thursday
was the exhibition of specimens of horse-shoes
manufactured on the principle just patented by
M. &Mien, of Paris, by means of hydraulic
machinery. Mr. Messiah, the English agent of
the patentee, interested a large proportion of
the ironmasters present with a series of draw-
ings of the new machine, which demonstrated
how, by the operation of a very simple process,
these horseshoes are made by M. Bastien's pa-
tent. There appears to be no doubt that iron-
masters may, by this rapid system of manufac-
ture, run through the mill a ton of completely
finished hnrsehoes at little more cost to them-
selves than the production of a ton of bar iron.
The prospects of the North Staffordshire iron
trade are not more encouraging than they were
a month bark. The month's business, at least,
may be taken as foreshadowed at the recent
meeting of the Masters' Association, whereat it
was without hesitation, and unanimously re-
solved, that there was nothing to warrant any
advance in price or wages, The succeeding two
months will be materially affected by the weather
whhtli regulates the trade with North Europe.
Present appearances are against that trade.