The Sun.
London, England, 1855-11-29 00:00:00

THE IRON AND COAL TRADE.

The iron trade remains in much the same state as we
last reported it. The leading members of the trade are
well off for orders. The demand throughout the quarter
has been sufficient to keep the mills and forges fully
employed. The complaint now is of the high price of
pigs, when compared with that of finished iron, but
when the high rate of wages and the price of coal and
ironstone are taken into account, the margin of profits
for pig makers is not very large. There are parties who
are underselling both in pig and malleable iron, but this
cannot be carried on long under existing circumstances,
nor to any very great extent. This is the dullest quar-
ter of the year, owing to continental orders falling off ;
notwithstanding this, however, the trade maintains its
ordinarily healthy tone, and when spring arrives there is
no doubt a stronger impetus will be given to it. The
coal trade continues very brisk, owing, in a great mea-
sure, to the outlet by rail. The Cannock Chase coal,
which is now being introduced, may do for household
purposes, but cannot be compared with the thick coal
bed of Bilston, Tipton, West Bromwich, and Dudley,
for making iron. It is one of the finest beds ever ex-
plored, and has been known to produce between 20,010
and 30,000 tons to the acre ; and, under what may be
considered favourable leases, has paid to the lessor
2,0001. per acre. The principal complaint now is the
unusually high rate of wages and material, the latter
beyond any precedent in tke annals of this district, and
more than proportionate with the prices obtained for
iron, which might probably have ruled higher and borne
a more equitable relation to the cost of production ; but
it is an acknowledged fact that the trade showed a wise
discretion at quarter day in not forcing the prices up
beyond their present rates, although urged to do so, and
they will have good cause to congratulate themselves on
the result of their prudence.
It may be mentioned, as a gratifying indication of the
future prospects of the iron trade, that during the week
several agents from France have visited the district with
a view of arranging purchases, and that the late altera-
tion of the French import duties promises well for the
manufacturing interests of the neighbourhood.
The leading particulars of the reduced duties imposed
by the new Spanish tariff have been published. In iron
wares the duties on most kinds are to be reduced, and
also the differential ones. This is the case on both the
finer and more ordinary kind of manufactured articles,
as articles for kitchen use, varnished, ornamented, &c.,
and carpenters', shoemakers', and other ordinary iron
implements employed by artisans ; the reduction pro-
posed in the former being about 50 per cent.—namely,
from 150 and 180 reals per quintal to 80 and 90 reals,
and in the latter from 70 and 87 reals to 56 and 66. The
finer kinds of iron tools, which now pay 1 20-100 and
1 45.100 reals per pound weight are to pay 85-100 and
90-100 reals. The duty on cast iron in bars is fixed at 6
and 10 reals per quintal, instead of 8. and 9 2-3 reals ;
that on iron cables remains at 6 reals per quintal under
the national flag, and is increased from 8 to 16 reals
under a foreign flag, and on iron chains from 18i and 25
reals to 20 and 30 reals. The duty on coal imported in
Spanish vessels is to be reduced from 1 reels to three-
fifths of a real per quintal, and that imported under a
foreign flag, on the other hand, to be increased from 2 to
2 1-10 reals per quintal. —Wave:4l4mpg on Chronicle.

IMPORTANT TO MARINERS IN THE
AUSTRALIAN TRADE.

LIVERPOOL, WEDNESDAY.

The owners of the Arabian (Messrs. Pilkington and
Wilson) have received the logbook of that vessel on her
recent voyage to Melbourne, from which we make the
following important extract :—" July 25. Wind N.N.E.
and N. Midnight, very thick weather. At 4 a.m. the
fog dispersed for a few minutes, and we discovered the
land (one of Crozet's Islands) right ahead. Hove the
helm up and wore clear. Stood out to the westward
two hours, and the weather clearing a little, wore and
kept by the wind, expecting to reach out to the north-
ward. At 8 a.m. the weather again became very thick,
and at the same moment we discovered the land sur-
rounded by very high breakers, extending out on the
weather bow, and no extremity to leeward, owing to the
excessive thickness of the weather. By the promptitude
with which the ship obeyed her helm, and the assistance
rendered by the passengers, under the blessing of
Almighty God, the ship was saved from utter destruc-
tion, and the lives of all on board preserved. By Hors-
burgh's chart and book of directions we were ab nit 130
miles past the island, and by a chart of the chief mate,
used on the last passage out, we were abreast of them at
noon yesterday. Consequently at the moment we saw
them this morning they must be out by that chart 182
miles. My new chart, however, with additions up to
1854, places the group in about lat. 50.40 E., and long.
46.20 S. My opinion, however, is that they are all
wrong together, although I had no chance of proving
my opinion, owing to the extreme thickness of the wea-
ther, I have, however, taken the precaution to circum-
scribe the group with a circle, and mark them very
doubtful and dangerous. I take this opportunity of ex-
pressing my thanks to my first officer, Mr. John White,
for the promptitude and decision he displayed when the
land was first observed at 4 a.m.—N. BANNATYNE, Cap-
tain, Arabian (since dead.)

The Wurtzberg New Gazette says :—" Accounts
from Vienna state that Prince Gortscbakoff has
declared to Count Buol that he was charged to pro-
test against any decision taken with respect to the
Principalities without the participation of Russia.
Russia, he is stated to have said, will not recog-
nise any decision which may prejudice her rights."
It is stated at Turin that Count Cavour will
take advantage of his present journey to make
preliminary arrangements for the negotiation of
the new Piedmontes© loan of 3) millions, which i 8
at preient under consideration by the Chambers. f