The Sun.
London, England, 1860-04-06 00:00:00

THE SUN, LONDON, FRIDAY • EVENING, APRIL 6, 186-0.

2' dB S (~'

TRADE.

(Rom Air. Thaiburn' .5 Quarterit Circular of March 31.)
The first quarter of 1860 sVall ever be memorable
in the iron trade. Of the 125 furnaces in blast in
January last 80 were stopped, for fully five weeks,
owing to the " strike" among the colliers and miners
at the Govan Works. The production has been in
consequence diminished 75,000 tons.
The export of pig iron was retarded by political
possibilities and the scarcity of tonnage, but, com-
bined with the local consumption, the total quantity
absorbed in the quarter just closing amounts to
202,000 tons—the make in the same period being
only 170,000 tons,- the stock has thus been reduced
32,000 tons, and is now 298,000 tons lying in ware-
honse-keepers' and makers' stores.
The perplexities which beset the settletnent of
Italian affairs at the opening of the year caused de-
clining prices—as low as 353 6d was accepted for
mixed numbers. liut the -" strike" and damping of
the furnaces, coupled with that great event of com-
mercial and financial importance—the unexpected
commercial treaty with France, and the adoption
by that country of the principles of free trade, gave
a stimulus to the market, and extensive operations
were entered into at from 56s 6d. to 61s 6d per ton
before the fourth of last month. The hope-
ful anticipatiOns which 'arose on the appearance
of the Imperial programme were, however, neutra-
lised by the distrust and uncertainty excited by the
annexation of the Cis-Alpine provinces of Sardinia
to France. The price in consequence has gradually
declined with an occasional rally of about is per
ton, and averaged in January. 575, February 60a,
and-March 57s 9d.
It is remarkable, in contrasting the "strike" just
terminated with that of 1856—(when only 40 fur-
naces were out of blast, and the production cur-
tailed by only 40,000 tors)—that the price then ad-
vanced from 66s to 80 ton, whereas the price is
to-day is 6d per ton Tess than it was immediately
preceding the commencement of the "strike:"
The general condition of the trade of this city
and Surrounding districtS is in all respects eminently
satisfactory. The malleable works, foundries, and
shipbnildin g yards- continue actively employed. The
Canadian orders for the season are now in course of
execution; these have been comparatively small,
though greater than for the previous two years. An
increased demand is expected to set in from Eng-
land. United States, and the C6ntinent of Europe.
Without indulging in extravagant estimates of
the future, I venture to say that, taking into account
the present prosperous trade of the country gene-
rally,—the commercial advantages which must be
derived from the vast extension of exports to France
Russia, and Naples, consequent upon the important
reduetion, of their, import duties on iron, a quick
and:substantial recovery from the existing depres
sion Will:shortly be realised.

•
Subjoined are the present quotations :—No. 1
Gartsherrie, 58s ; No. 1 Coltness and Calder, 56s ;
No. 3 Gartsherrie, Langloan and Glengarnocir, 55s
3d ; Nos. 1 and 3 G.M.B , 555; Mixed Nos. War-
rants; 55s 3d. Ayrshire Brands, 54s 6d to 55s 6d;
East Coast Brands, 54s 63 for mixed numbers.
Bars, £7 5s to £7 15s ; plates, £8 10s to £9 ; rails,
£7 to £7 lOs ; railway chairs, £4 7s 6d to £4 15s ;
iron pipes, £5 5s to £6 per ton.