The Stourbridge Observer, Cradley Heath, Halesowen & District Chronicle.
Stourbridge, West Midlands, England, 1875-06-05 00:00:00

THE IRON TRADE.

V7OLTERHA,MPTON, Wednesday.

The tore of to-day's meeting was fiat, in
sympathy with the London and other markets.
It dot s not appear that this district will stiffer
to any extent, from the recent collapse in London
and Sontli Wales, but the influence of such
gigantic failures, and the uncertainty as to their
effect in other quarters, naturally will be felt,
more or less, in a district so deeply interested
in the iron trade as South Staffordshire. Well-
informed members of the trade present on
'Change this afternoon were not apprehensive
that any permanent injury to the course of
business will arise from the collapse in question.
The latter will rather have the effect of puri-
fying credit, and restoring confidence by clearing
away the shadow of itnpending disasters, whieh
for, some:time past has haunted theiron trade and
allied industries. There can be no doubt as to
the inherent soundness of the trade, stocks
everywhere being low, and the advices from
most of the leading sources of the leading
sources of the demand—the United States ex-
eepted—being, to say the least, fairly satisfac-
tory. It needs but an adjustment of the course
of prices to the tone and condition of the market
to bring about the return of buoyant trade. Such
at least is the inference to be drawn from the
present experience of members of the heavy
ironfoundry trade. During the regime of excess
sive prices—that is to say from the latter end of
1871 to the beginning of 1874—buyers of ga-
and water mains, and such like produce, restric-
ted their purchases within the narrowest possible
limits. Now that prices are reduced to a mode-
rate standard the demand is excessive, and the
activity at all the leading establishments of the
district greater than has been the case for seve-
ral years past. The course of prices, though
without much actual change, had on the whole
a somewhat easier tendency this afternoon.
" Foreign " pigs were to be had at 2s. 6d. per
ton lower than the rates ruling a fortnight ago.
South Staffordshire common cinder pig ruled
from £3 to £3 ss. ; and best native all-mine, .R 5
to £5 ss. per ton. A very fair medium quality
pig, mixed cinder and mine, was to be had this
afternoon at £3 17s. 6d. per ton. Considerable
firmness continues to prevail injthe price of foun-
dry pigs of all the descriptions adapted to local
consumption. The number of furnaces blow-
ing in the district is eighty, being one more than
the number last noted. Arrangements are being
made for putting several additional furnaces into
operation. The feature in the finished iron de-
partment is the continued demand for sheets,
all classes of which are well under order. Com-
mon unmarked bars are offering in some cases
at £8 7s. 6d. per ton, and other classes of fin-
ished iron (except sheets) in the usual propor-
tion to that standard. There is no change in
branded iron on the bans of £lO 10s., £ll, and
£ll 12s. 6d. for the three ruling qualities of
bars. The hot weather is this week greatly in-
terfering with the operations at the finished
ironworks of the district, and, should it long
continue, it will have the effect of somewhat
strengthening prices.