The Stourbridge Observer, Cradley Heath, Halesowen & District Chronicle.
Stourbridge, West Midlands, England, 1880-06-19 00:00:00

SATURDAY, JUNE 19th, 1880.

THE IRON TRADE.

WOLVERHAMPTON, Wednesday.

There was a moderate attendance on 'Change
this aternoon, but only a limited amount of business
was transacted Some of the manufacturers were
reported to be in receipt of sufficient orders to c .rry
through thliquarter, b zt the prices that have been
aci:epted will I,:ace but a smalr margin of profit,
if, indeed, in some cases there is not a loss on the
transactions. Ma, ked bars are selling rather better
in small quantities, and piices are firm on the basis
•)i £B, but for unmarked iron the quotations are
irregular, varying from £6 to £7 ss. :.ales were
made to-day of a good bar at £5 104. Boiler and
girder plates wer: nut inquired for at over £9 10s.
loops were worth £7, and galvanisers' sheets
(singh.s) were sold for £B. Tin-plates were easisn-,
hut makers hesitated to book except in very limitad
quantities. Th: demand for pig iron was better,
and prices were rather stronger, particularly
for foreign iron, including Derbyshire, IfiAles-
brough, and South Wale.' brands. Local iron was
in most favour amongst the l'oundry people. The
other brands asked atter were hot-air all-mine,
offers being made at £3 15s. Coal had a very
languid sale, and prices showed no improvement.
Coakes were offered at lower figures than have been
taken lately.

BIRMINGFIA3I, Thursday.

The aw!ird ,f Vie Mayor (Mr. R. Chamberlain,)
which establishes the basis of wages in 'ha iron
trade f.-:r the ensuing six months, wid not iti.
th,ught afford the relief to manuiacturers that was
anticipated. An advance of 6d. per ton, in addi' ion
to the shilling for each pound sterling per t. n of
tle average selling price of iron of the twe!ve
selected firms, has been conceded, and it is con-
sidertxl probable that wages w ill be ad vaneed rather
than reduced during the ensuing three months.
The s!id'ng scale comes into operation on July sth.
As a result of the failure of Mr. Joseph Jones. iron-
master of West Bromwich and Tipton, for :e16,000,
following closely upon the failure of Messrs.
Bowater and Sons, a depressing influence was rro-
duced on the iron market this afternoon, as these
are regarded as an indication of in-taAiility in the
local iron trade. Common Staffordshir bars
be obtained as low as .E 5 103. a t-n, the minimum
price of 1879, and common forge iron was sold at as
low as 355. These prices, though exception-il, show
the existing weakness of the iron trade. Inquiries
were fairly numerous, but did not result in any
mat ked increase of busiuess. Some sLeculative
inquiries wore reported to be in the market, and
now that prices have again touched the bo-totn no
doubt some of these will shortly be given out.

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IfOreas itiOo I. 614 iiii4CUPetili DOM Ili Wad