The Stourbridge Observer, Cradley Heath, Halesowen & District Chronicle.
Stourbridge, West Midlands, England, 1868-04-11 00:00:00

IRONMASTERS' QUARTERLY
MEETING.

The Quarterly Meetings of the Ironmasters
of this district commenced on Wednesday last,
at Wolverhampton. The attendance was much
larger than it has usually been in that town of
late years, but there were very few transactions
of any kind reported. It was admitted on all
hands that the trade has not in the slightest de-
gree improved, and that the demand for finished
iron is on the most moderate scale in this local-
ity. It ia to be feared that the result of yes-
terday's meeting in thattown has not been much
more favourable.

The principal, indeed almost the only topic
dissossed on Wednesday, was in reference to the
notices given to the men for reductions in the
wages scale. It is now felt more strongly than
ever that the time selected for taking this step
is a mistake, and that the men, or some sections
of them, will resist at least for a week or two,
though they will ultimately have to give way, in
all probability there will be an absence of uni-
formity of acticiu on the part of the masters,
which will necessarily aild to the present em-
harassed twit unsatisfactory condition of the
trade, The milli:len are said to be the firmest
in their resolve to stand out.

_
The market for pig-iron was dull; scarcely
any sales having been reported. There was a
rumour afloat that the Lilleshall Company have
it in contemplation to reduce the price of their
pigs Ss per ton.
The North Staffordshire makers who were
present at this meeting reported the trade in
that quarter rather better. They have some
Ciumdiau orders on hand.

Contrary to expectation the men are moving
to resist the reduction in the wages scale. A
meeting of the delegates was hold on Monday,
at Brierloy Hill, at which there were present
representatives from the trade in this district,
North Sidaftordshirs, Eaneashire, and the North
of England. After some discussion a resolu-
tion was passed to the effect that in the opinion
of the meeting the notices of reduction are
"unjust and unwarrantable ;" and if attempted
to be enforced they are to be strenuously op-
posed. _

The mill and forgemen have held a meeting at
Bilston, and come to a similar determination.
At West Bromwich, and in other parts of the
district, meetings have been held, and the like
course has been taken.

It is just-p-o—srsib-leibat the men will persevere
for a week or two, but it is certain that they will
ultimately have to give way.

The second of the Qasrter-day meetings of
the fronmasters of this district was hold in the
Town Hall, Birmingham, on Thursday aftr-
noon. The attendance was largo, and there
was about the average proportion of buyers, but
from the commencement of business it was evi.
dint that they were determined to be cautious
about entering into engagements, and this spirit
prevailed to the close. At the Wolverhampton
meeting little or nothing was done, it having
grown into a custom of late years to leave things
over to Birmingham; and, as a natural cones.
pence of this arrangement, some quantity of
finished iron was sold on Thursday for future
delivery, but undoubtedly the quantity was mo.
&rate—quite below anything which could give


an impetus to the trade, or raise it, even for a
fortnight, from its present depressed condition.
The Works will remain in part standing, as they
have been for months; and prices will be about
as wide as they were prior to the reduction de-
clared at the preliminary meeting. In part.
this is of course attributable to there being no
uniformity in the manufacture (there being first,
second, and third class-qualities) ; and in part
to pecuniary exigencies, which compel some
makers to sell on the best terms that they can
get. That pressure of this kind has been bad
enough the last two years is abundantly shown
by the balance-sheets exhibited in connection
with recent failures, the amount sunk in the
period named in the iron trade of South Stafford-
shire having been greater in proportion than has
ever been known, though, unfortunately, in
every instance it has been those who have given
credit who have snfferad. It is to he hoped that
the worst of this it over; but at this moment
prospects are not good, no trace of an early im-
provement being discernible, though that has
sprung up to a moderate extent in nearly every
other iron producing district. The trade in all
the other iron producing locallities was well re-
presented.