The Sun.
London, England, 1857-12-31 00:00:00

THE SCOTCH IRON TRADE.

The following is Mr. Thos. Thorburn's annual
report of the Scotch iron trade, dated Glasgow,
Dec. 31 :

Though the year 1857 marks the decennial period of
commercial disasters, yet it has proved upon the whole
a prosperous one to the iron trade, in which—notwith-
standing severe monetary convulsions, and a fall in
value of about 30s. per ton—not a single failure or sus-
pension has occurred. It may be here appropriately
stated, that since 1847 the immense transactions in the
article have principally been conducted upon cash prin
ciples, and but in few cases was dominion of the iron, or
the warrant which represents it, given until the money
was paid. Hence the continued soundness of the trade,
and its immunity in a great measure from those evils
which have recently so afflicted several other branches
•f commerce. .

.Owing to the high prices which prevailed during the
last five years, having averaged 70s. 6d. per ton, com-
bined with the great expenditure of the Governments of
the United Kingdom, France, and Russia, in the late
war, and the progressive development of the railway
system over the world, the production was greatly
stimulated, and amounts in the year just closing to the
unprecedented quantity of 915,000 tons. Notwith-
standing the local consumption and exports, foreign and
coastwise, having reached 843,000 tons, the stocks have
considerably increased, and are now [the stock afearron
not included, which is about 30,000 tons] 160,000 tons
against 88,000 tons twelve months ago.
The highest price during the year was in June, when
it touched 83s. for mixed Nos. and 84s. for No. 1 Gart-
eherrie—the lowest price this month, when 48s. 63. was
accepted for mixed Nos. and 575. for No. 1 Gartsherrie.
The reduction in wages of one shilling per day sub-
mitted to lately by the colliers and miners lessens the
cost of production about 7s. per ton ; and the makers
generally have been selling at 555. down to 48s. 6d.
Bars, rails, and almost every kind of manufactured iron
continuing in a depressed state, a few of the malleable
iron works have been stopped for want of orders. The
iron founders, too, are much slacker, and the local
consumption has in consequence fallen off considerably.
Whilst the year closes gloomily enough, and the
prevailing distress in the manufacturing districts may
yet be deepened ; still, with the Indian insurrection
virtually quelled—with returning confidence and revi-
ving activity, already felt at home and abroad—and
with cheapening money, consequent, among other
causes, upon the influx of gold, it is gratifying to
anticipate the rapid restoration of commerce to its
sound and legitimate channels, and the progress of that
enterprise which always shows itself in the demand
for iron, the consumption of which is an infallible gunge
of material prosperity.

IRONMASTERS' MEETING.—DUDLEY, Wednesday Even •
ing.—The usual preliminary quarterly meeting of the
iron trade was held at the hotel in this town this after-
noon. There was a numerous attendance of ironmasters.
Mr. Philip Williams, the chairman of the trade associa-
tion, presided, and most of the leading firms of the dis-
trict were represented. After considerable discussion it
was resolved that the price of Staffordshire bars for the
next quarter be 8/. ; hoops, 9/. ; and sheets and plates,
91. 108. per ton at the works. This is a reduction of
20s. per ton on the published lists for marked iron. It
was also resolved that 14 days' notice be given from Sa-
turday next, 2d Jan., to reduce puddlers' wages ls. per
ton, and a corresponding reduction in millmen's wages.
DISTRIBUTION OF GOOD-SERVICE MEDALS.—A parade
for the distribution of medals for long service and good
conduct took place yesterday at eleven o'clock on
the esplanade in ;root of the Royal Barracks. The
honoured recipients were, one soldier of the Scots
Greys and six soldiers of the 55th Regiment. The
Greys (dismounted), the whole of the 55th Regiment,
commanded by Colonel Daubeny, C.B , one of the
Crimean heroes, with detachments, two companies each,
from all the other regiments in the garrison, Guards,
30th, 76th, Shropshire and Aberdeenshire Militia, and a
portion of the Royal Artillery and Engineers, together
with a squadron of the Royal Dragoons, were on the
ground. In the unavoidable absence of the commander-
in-chief, Col. Gascoyne addressed the select party, saying
he had received their medals from her Majesty. He
expatiated on the distinction it was to each man to
possess such a mark of honour. He complimented the
55th Regiment on their good conduct and the splendid
appearance of the men, so many wearing on their breasts
the trophies of their war services. It was a most
gratifying fact that so many as six men out of one
regiment entitled themselves to this proud mark of
distinction.