The Stourbridge Observer, Cradley Heath, Halesowen & District Chronicle.
Stourbridge, West Midlands, England, 1876-08-26 00:00:00

THE IRON TRADE.

BIRMINGHAM, THURSDAY.

The long-expected real and substantial im-
provement in the iron trade of this district has
not yet taken place. It is true that of late there
has been a slight change for the better, and last
week there were apparently some good reasons
for believing that the improvement which had
set in would continue. To-day, however, al-
though manufacturers agreed that the lowest
point had been touched, confidence was some-
what shaken by ominous rumours of impending
disasters in the trade—rumours, which of course
tended in some degree to make manufacturers
very cautious. In the event of these tlireatened
failures being declared, and however serious the
consequences may be, very little surprise can be
manifested when the depression which has so
long characterised the trade is taken into con-
sideration. In fact, the losses sustained by
manufacturers for months past have been so
great, and the a•nount of business transacted so
small, that the wonder is there have not been
more failures. For the present matters can
scarcely be expected to undergo any radical im-
provement, and the next quarter-day will be
looked forward to as anxiously as was the last,
although it is hoped there will after all be a
greater realisation of the anticipated better
prospects. South Staffordshire is fortunate in
having secured some large orders for iron to be
used in the construction of the new Law Courts
at London, and the execution of which will,
combined with other work- which has yet been
withheld, cause mills here and hereabout to
assume something like briskness. The employes
in the Black Country, after so long a season of.
iumtiTith will be oily too glad to Apd than

selves more regularly engaged, whilst a con-
tinuance of slack trade duringthe winter months
cannot but be attended with painful results.
There is little change to report in respect to
prices. Branded iron remains fixed at £8 10s.
to .0 12s. 6d. Unmarked bars are readily ob-
tainable at less than £7. There is a tolerably
good demand for sheets. The pig-iron market
was reported somewhat firmer and although a
n:onth ago stocks were increasing, the tide has
now turned. Mine pigs were quoted at £4 ss.
to £4 15s, second-class about £3 17s. 6d., and
common make about £2 15S. There was more
enquiry after pigs generally this afternoon, and
traders were looking to an upward tendency
rather than, as was the case a few weeks ago, a
reduction. It was currently reported on 'Change
that a large firm on the other side of Dudley had
increased the price of forged pig by half-a-crown
per ton, making the price about .R 3 7s. 6d.
Any improvement since last week in the coal
trade must be attributed chiefly to change in
the weather. Coal for domestic purposes finds
a somewhat readier sale although coalraasters
are yet badly off for orders. There is still a
general impression that wares must come down
and that the reduction will be followed by in-
creased trade and increased receipts. It re-
mains to be seen, however, how colliers will look
upon any attempt to reduce their wages.