The Stourbridge Observer, Cradley Heath, Halesowen & District Chronicle.
Stourbridge, West Midlands, England, 1874-09-12 00:00:00

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SATURDAY, SEPfEMBER LI, 1874.

THE IRON TRADE

THE NEW ROTATING FURNACES

WOLVERHAMPTON, Wednesday.

There was considerable animation at the weekly
meeting of coal and ironuutsters here to-day. Buy-
ers of finished-iron were present who wished t
place specifications for general merchant iron even
on makers' terms, but were • unable to get them
accepted with the stipulated condition of immediate
delivery. Makers of goods for export northwards,
and merchants who send oat iron to the same mar-
kets, have left off buying, till they now find them-
selves in danger of being unable to despatch the
goods in time. Unhappily, however, the number
of buyers so situated is fewer than it usually is in
September, and the quantities a which they have
delayed the purchasing represent a very much
smaller aggregate than upon the average of years.
Makers of good iron are firm at—Bars. 211.; sheets
(singles), £l3. 65.; and boiler plates, .213. 10s. A
really good specification for singles might have
been placed this afternoon at 213. Is. was the
price demanded. The lowest price at which South
Staffordshire pigs could be bought was £3. Is., a
good offer at is. 3d. less being peremptorily refused.
For all-mine pigs as high a figure as 20. ton was
named, but the very much lower terms (from £4.
12s. 6d. to .2.4. 155.) on which Barrow iron could
be got prevented much business in all-mine quali-
ties

. i •
Coal is inactive, notwithstanding some colliery
proprietors are trying to stimulate purchases by
ow quotatkus• buyers are the less disposed to
close at sdch s'', is being made hnown that
a meeting of thelcmu.nis.ers Association is about
to beheld.

A fair amount of laciness was transacted at the
meet.iig the trade, on lhursday, and prices, so
kar tro.o exhibiting any dowaward tendency, were
considerably firmer than has been the case for
some time pa,t. It is quite clear that the trade
• .:covered from the depression of the early
part of the year, and the feeling of confidence
which now marks all transactions alone shows the
improvement which has taken place. Pig-iron is
in active demand, and last week's quotations of £3.
be. for cinder and £5. los. to £5. iss, for all-mine,
showed so much firmness as to suggest au advance.
Prices are steady for bars and all other descriptions.
Makers are so well off now that they have quite as
much work as they can do, and additional furnaces
are being put to work every week. Beyond the
completion of orders for shipping, the majority of
the orders now given out are not of an important
character, the impression being that the end of the
quarter will witness sonic favourable change as to
prices. Standard rates are, however, so little re-
garded by colliery owners that the probability of
a fall is so great that an official reduction may be
almost discounted at the present moment by deal-
ers.

REDUCTION IN THE PRICE OF COAL.
At a meeting of colliery proprietors held at the
Dudley Arms Hotel, Dudley, yesterday afternoon, it
was resolved—" That 14 days' notice be given to the
colliers on Saturday, the 19th inst, for a reduction of
6tl per day off thick coal, and 3d per day off thin
miners' wages." The understanding being that the
price of the Earl of Dudley's furnace coal on the east
of Dudley, will be reduced from 16s per ton to 13s
pr ton, from the 30th of September, and this reduc-
tion in wag s follows in accordance with the agree-
ment entered into at Birmingham on the 10th of July
last, nuder the auspices of the Mayor. Engineers
and outsiders wages are to be reduced in the same
proportion.