The Stourbridge Observer, Cradley Heath, Halesowen & District Chronicle.
Stourbridge, West Midlands, England, 1872-08-24 00:00:00

THE IRON AND COAL TRADES.

The demand for household coals at the northern pits has
not been so great during the past fortnight, on account of
the reduction of prices in the London Coal-Exchange, and
there is an impresmon upon 'Change at Newcastle. that the
extremely high prices catalog Is, Bush:l.lllrd. In corromoration
of what was stated last ,ne,k with regard to the
Iron trade and the prssent prices, the iron and Coal
Trades' Eerie.% the organ of the Cleveland ironmasters, re-
ports :
• • • • • s•

"As far as can be gathered, the amount of new
work now coming to hand is not equal to the make of
the district, no that it is apprehended that as the
existing contracts are completed, more difficulty will
be experienced in procuring sufficient work to keep
the mills in steady operation—that is, at anything
like the high prices now prevailing. On the other
hand, looking at the cost of raw materials, and at the
numerous advances that have been made in the wages
both of ironworkers and colliers, „it is hard to see 'row
finished iron can be produced at anything like a
profit, unless present selling prices are kept up. The
first indications of reaction are, however, beginning to
make themselves felt. especially in some of the manu-
facturing districts, which depend, to a large extent,
upon the local consumption of the iron they turn out.
The reports coming in from all parts of the counts y are
to the effect that ir nmongers and other disttibutors of
iron- goods generally are, only now pnrcba.sing very
a-nal quantities for home purposes. The prevailing
high quotations for iron offer a great inducement to
substitute wsio I for it, wherever it is prase icable. This
can be done very I irgely in the manufacture of agri-
cultural machinery and implenn nts. Mcr hunts
also think that rates will go down instead of advsnce,
for they are committing themselves very spar-
ingly on account of the future. As previously in-
dicated, the iron ship builders are not receiving many
orders; in fact, there seems to be a complete lull in
this branch of industry, but as firms have a good
supply of contracts still unexecutsd, the effect of this
falling off in demand for steamers will not make itself
very strongly felt for some time yet. The demand
for rails is not at all brisk, as the leading merchants
are not disposed to speculate at present prices, and
except on American account, and for orders that must
be completed almost irrespective of cost, the purchases
are few. The existing state of things is calculssed to
prevent the execution of new projects that are i•i con
templation, and it is fortunate for English rail-ricakers
that in America the mileage of new roads already in
course of construction is so enoirous that it must be
sufficient to keep the American rail mills going, and
also leave a very handsome margin to come to this
country."
There lens present reduction upon the high prices of
coals at the pit. But the market will be ruled during
the next few months to a very large extent by the
prospects of the iron trade. If there had been any
material falling off in that trade it seems almost certain
that the present price of coals could not be upheld.
The demand for coals for shipment to the Baltic is well
sustained, and the merchant+, at the byeporta are very

anxious to have more coals on stock before the winter
sets in. A very large number of sailing ships and
steamers are in the Tyne, Wear, and Hartlepool. Small
eositert continue to be engaged well in advance. Some
of themget ready terms where the collieries wauttocom-
plete their contrasts. The gas companiestshowno an xiety
to enter upon new contracts,. Many of them prefer to
deal in the open in irket sooner than inike long engage.
meats at the present rates. The pits are working very
steadily, and wen are making fair time. In the iron
shipping trade freights from the Blak and Sea of
Azoff continue dull for steamers. Iterehante, for the
present, prefer sdling ships to strayers for the corn
business, hut if the present wet and uncertain weather
continues much longer, it is &truest certain that there
will he a considerable resction in fa, our of steamers,
and ocrisequilitly easier coal r.VrA frdir Great Brit.in
the Minliterra .e in: There is jrs• row great diffi-
culty in finding lucrative ws.pioymert for iron
steamers.