The Stourbridge Observer, Cradley Heath, Halesowen & District Chronicle.
Stourbridge, West Midlands, England, 1873-05-03 00:00:00

THE IRON TRADE.

WoLVERIIAMPTON, irednedday.

Daring the past week very :i tie business has
transacteit in coatis:6'4mi with the trade of
t.i listriet. Orders are scarce, and st present
thrre is little prospect of any improvement
Viking place. Prices remain unaltered, and
ii:e.etiants tre holding back orders in the hope
that, before leutt, the iptotations will tat easier.
Waether sue 't will be the case or not is at pre-
s. zit doddtfal, foe tine increased wages aunt high
prices paid fsr fuei wiil pr:vent makers reducing
tliir qaotatious. Froai inquiries made it ap•
tirit the men are wersin4 tuore regularly
new than Was the case a week or two ago, and
as regards the difference which has been oc-
casioned with reference to the five heat system
it seems that at present it is confined to one or
two firms iu the district. No alteration has
taken place in tine price of coal, and, as far us
this district is concerned, the supply is not

equal to om demand. There was a good deal of
talk on 'Change to-day respecting the new coal-
fields which have been discovered in the neigh-
bourhood of Cannock, and also the extension at
Sandwell. Such discoveries are looked upon as
likely to prove moat b meliciai to the trade of
the South Staffordshire district. There was but
a moderate attendance to-day, and very little
business was transacted.

There was but a moderate attendance at the
weekly meeting of the trade in Birmingham on
Thursday, end little business was transacted on
'Change. Buyers are still holding aloof, or
limiting their purchases to actual necessities, in
the belief that prices tuust soon be lower. At
present, however, there is little indication of
yielding on the part, at all events, of the leading
houses, who are for the toot part well under
order still for Australia, India, and the north of
Europe ; but second-class makers, whilst pro-
tecting the impossibility of any reduction whilst
coal and labour continue so high, are driven by
competition in many cases to make lower quota-
tions. Marked bars continue to stand at £l6,
or £l6 12s 6,1 for Lord Dudley's make. Sheets
(singles) are quoted .£l9 to £23, and £24 for
Messrs. Baldwin's B. Wilden ; nail-rods, £l5
10s to £l6 10; hoops, ..£l6 to £l7, and other
kinds in proportion. Inferior qualities may be
had at from £1 to £2 below these quotations.
Pigiron continues steady, at £5 to £8 58 for
hot-blast native all-mine, and £9 for cold-blast.
Cinder pig ranges from £5 15s to .£6 Sc. No
improvement Can be reported at present in the
shipping demand for finished iron, as the
United States merehants are not buyers at pre-
sent prices. in regard to home requirements, a
tolerable amount of iron is going into consump-
tion in the local hardware trades, and especially
the galvanised sheet, nail, tube, machinery, and
wire branches; but a good deal of it was con-
tracted for before prices had reached their pre-
sent standard, and new orders are very scarce.
The course of prices now depends almost en-
tirely upon the coal market, in which there are
yet no indications of greater ease. Demand is
certainly quieter, but the uncompleted orders
are still so large that an early reduction is, to
say the least, improbable. A specimen of the
11-inch coal just discovered at Sandwell Park
sinking was exhibited on 'Change on Thursday,
and attracted a good dual of attention; but the
general opinion seemed to be that it was 'in-
conclusive of the ultimate success of the uudert
taking, and that a considerable depth will have
to be sunk yet to determine the question of the
existence of regular coal measures.