The Sun.
London, England, 1847-10-09 00:00:00

THE IRON TRADE.

The preliminary meeting of the ironmasters of
this district took place on Tuesday, at Wolverhamp-
ton, and we are happy to state that the result
was satisfactory. The prices of manufactured iron
(bars, hoops, and sheets) remain the same. The
home demand is very good, and this, considering
the time of the year, and the fact that the ship-
ping season will soon be drawing to a close,
fully warrants the conclusion arrived at by the
trade. Pig-iron maintains its price : the principal
makers are already full of orders for the next quar-
ter's delivery; indeed, the quantity made in South
Staffordshire is not equal to the demand. So much is
being used for casting, for railway, and other pur-
poses, and so large a quantity is converted into manu-
factured iron, that were it not for the pig-iron im-
ported from other districts, the scarcity would, we
have no doubt, be material. There cannot be any
considerable reduction, either in the price of pig or
manufactured iron, so long as the value of labour is
so high, the raw material so dear, and the demand so
great. _

The large failures in the city and elsewhere have
not as yet affected the iron trade. It is true that
several iron merchants have failed, but the business done
by them in this district was very limited. Notwith-
standing the pressure upon the money market, we have
every reason to believe that the engagements will be
promptly met, and the payments punctually made at
the ensuing quarter-day. The manufacture of railway
bars is a distinct branch of the iron trade, and the
price is not settled at the general meetings. The re•
quirements of bona fide railway companies—of those
who can afford to pay for the rails contracted for,
and who cannot do without them—will be suffi-
cient to keep this department of the trade in full
operation for some time to come ; indeed, we
speak advisedly when we declare that we have not
heard of one single order for rails being post-
poned through "railway embarrassment.' That
the iron trade should pass through a great commercial
panic, meet the heavy pressure in the money market,
and not be ultimately affected by it in some degree,
is almost too much to be expected ; but, we believe,
when the panic is over, and the pressure is removed,
it will be found that the iron has been comparatively
unaffected, or, at all events, that it has enjoyed an
extraordinary exemption.—Birmingham Advertiser.

PANAMA, AUGUST.—The Pacific Steam Navigation
Company's steamship Ecuador, from Callao, arrived
here, bringing, in addition to her usual passengers and
cargo, the mails in continuation with the Company's
steamer New Grenada, which left Valparaiso July 28,
from the undermentioned porta in Chile, Bolivia, Peru,
Ecuador, and New Grenada, of the respective dates as
under noted :—Chile—Valparaiso, July 26; Coquimbo,
29; Huasco, 30; Copaipo, 30. Bolivia—Cobija, Aug. 1.
Peru—lquique, 2; Arica, 3; Islay,4; Pisco, 6; Callao,
1I ; Payta, 14. Ecuador—Guayaquil, 16. New Granada
—Buenaventura, 19.

FATAL ACCIDENT.—AS a seaman, named Attrill,
of Viscount Milton's yacht Merlin, was engaged scrap-
ing the bowsprit, the chain bowsprit shroud broke, and
he fell into the ship-yard, Ratsey's, at Cowes, and was
so seriously injured that he died the same evening. On
the Coroner's inquest, it appeared that the accident was
occasioned by the defective clinching of the eyebolt into
the iron hoop at the bowsprit end, the trifling weight of
the man drawing the eyebolt. The work, it appears,
was done at Gosport, and the jury expressed themselves
strongl7 on its defective nature.