The Stourbridge Observer, Cradley Heath, Halesowen & District Chronicle.
Stourbridge, West Midlands, England, 1879-11-01 00:00:00

THE IRON TRADE.

WOLVERITAMPION, Wednesday.

There was bat a moderate attendance at
the opening ol the meeting on 'Change this
afternoon, but later on there was a large in-
crease, and the business tone became some-
what animated, consequent upon the agree-
ment of the Coalmasters' Association, arrived
at during the afternoon, to advance the price
of coal is per ton. This decision in some
quarters was not received with entire satis-
faction, a number of the producers urging
that 2s should have been added to the price,
a step which the men for the last few weeks
at nearly all their meetings have spoken in
iavour of being taken. Some of the masters
also state that they Ear their men will not
accept the small advance of 3d and id a
day which the increased value of the coal
will entitle them to receive under the Bir-
mingliarn agreement. The demand on
'Change for medium sorts of finished iron
was fairly brisk, and many of the houses
being well up on the advanced rates which
they have been takiug lately, they conse-
quently do not care to make fresh bargains
unless they get more money. This was ar-
ticularly the case with bar, sheet, and hoop
firms. Boiler plates for Government dock-
yard work fire, in little stronger request, and
prices are firmer. Mark -A. bars at present
remain at lOs per ton, though a rise of
lr.',‘3 per ton is anxiously looked forward to
owing to the dearer value of fuel. Angles
and gas tube strip met with a better sale.
The demand for nail rods has fallen off—a
result due, no doubt, to the threatened strike
in the nail trade. Pigs were briskly called
for. A:1 the part-mine firms are selling at
a good rate, and prices are against the par-
chaser. Derbyshire and Northampton pigs
are in steady inquiry, and for hematites pro-
hibitiva prices are asked. The Wolverhamp-
ton Corrugated Iron Company have ad-
vanced their prices £1 per ton as a result of
the increased quotations for sheets. Iron-
stone has a large sale, and manufacturing
fuel is being ordered in heavy lots. Many
of the consumers, having anticipated the
rise in price, have been seeking to get for-
ward contracts booked, but have only suc-
ceeded in a few iustances.

BIRNINGIZAM, Thitr3,lliy.
An increased dispositian to buy at the
enhanced terms was shown this afternoon,
a rmnber of consumers having held aloof
until necessity compelled them to accept
producers' terms. Nearly all the leading
manufacturers have bought la,r7ely of pig
iron, having anticipated the advance to a
great extent. It is reported that a War
rmgton firm has recently bought 100,000
tons of pig i7on from the different districts
a proportion being from South Stafford-
' shire. While the purchase is no doubt to a
certain extent of a specala,tive character, it
itirlicates a great amount of confidence on
the part of large consumers of iron in the
stability of the revival in the iron trade.
A meeting of the repre3entativcs of the
"list" houses was held on 'Change to-day
to consider the advisability of advancing
the standard quotations as a result of the
enhanced cost of raw material and of fuel.
It was urged that an alteration of the "list"
price::: would invc.,lvA an additional percent-
age to the paddlers and tonnage men,
which would absorb a large proportion of
the increase, while it would tend to unsettle
the relations between marked and unmarked
iron and operate to check the improvement
in demand. At present unmarked iron is
slightly below the minimum average of the
past fifteen years, and marked iron is only
just at the minimum. As basiness is still
largely of a specultitory character it was not
thought desirable to raise the quotations,
hat it was decided to withdraw the "list"
now regulating prices in the iron trade,
leaving to individual masters to make special
contra,cts.in regard to new business, while
it will enable them to clear off the orders
they have in hand at the existing rates, and
will guard them against Teeing compelled to
accept longforward contracts at the list quo-
tations. The ironworkers claim an advance
of wages as a conseptence of the improve-
mcnt in trade, and Mr. Chamberlain M.P.,
has convened a meeting of the. Iron Trade
Wages Board for Tuesday nqxt, when the
terms of the last arrangement will be re-
considered. The coalmasters have declared
an advance of Is. a ton on coal and lamps,
to come into effect on November Ist, and
wages will be raised 3d. per ton for thick
coal miners and ltd. for thin coal men.
Notwithstanding the strike in the nail trade
there was a good demand for nail rods and
nail sheets, principally for export., and the
leading manufacturers are well booked for-
ward.