The Sun.
London, England, 1868-01-09 00:00:00

NORTHERN OF BUENOS AYRES.

It appears that the committee appuinted by the
meeting held at the London Tavern on the 20th
ult. to confer with the directors :•ill not be pre-
pared to submit their report on Friday next, but
that due notice will be given of the meeting at which
the committee's report will be submitted.

IRONMASTERS' QUARTERLY MEETINGS.

WOLVERHAMPTON, Wednesday Evening.

The quarterly assemblies of the ironmasters of
this district commenced iu this town this afternoon.
There was a poor attendance, and little business of
any kind was transacted ; a very gloomy feeling
prevailed, and not without good cause, for, after
some 15 or 18 months of quiet, and latterly of ex-
treme depression, there is no apparent prospect of
reaction or improvement. In the course of the period
referred to failure after failure has occurred, and
rumours more or less unfavourable again to-day,
whether well or ill-founded, had a tendency to in-
crease the existing uneasiness. At no time within•
living memoryhas the iron trade of South Staffordshire
been in a more awkward condition. The resolution
passed at the preliminary meeting was almost forced
upon the assembly by two or three influential mem-
bers of the association, and in the fortnight which
has since elapsed the dissentients have become more
outspoken against the course then adopted. In such
circumstances it is impossible to foresee what
change may take place ; but it is quite certain that
very few orders have come in since the meeting re-
ferred to, and the anticipations are anything but
cheering as to the contracts likely to be entered
into at the meeting at Birmingham on Thursday.
It is quite certain, however, that they will be on a
very moderate scale ; the only favourable circum-
stance is that stocks of finished iron throughout
the country are ascertained beyond all doubt to be

The market for pig-iron is in anything but a
satisfactory state, and, large as is the number of
furnaces out of blast, it
.is not improbable that
there may be an increase in that respect before
many weeks are over.
The North Staffordshire ironmasters in the Ex-
change to-day spoke of their fixed determination to
adhere to the resolution passed by them last Thurs-
day to reduce the wages scale ; they desire to put the
rate back to what it was prior to the last great
strike; and they assign as their reason for this re-
solve that they are selling manufactured iron at 15s
per ton less than was fixed last January, so that
practically the price is down, though it has not been
actually declared lower.

The first general meeting of the north of Eng-
land iron trade was held on Tuesday, at Newcastle-
on-Tyne. These meetings, on the plan of the
Birmingham meetings of the Midland trade, are
to be held alternately at Newcastle, Darling-
ton, and Middlesborough. There was a good
attendance, and a few representatives from Glas-
gow, Barrow, and Manchester. The finished iron
trade vas reported dull, particularly iu the rail de-
partments. Platemakers report a few more orders,
but at unsatisfactory prices. In pig iron there was
a moderate demand, and prices were fairly main-
tained. No. 1 was quoted 465. 6d., and No. 3,
435. 6d., net cash. It was officially stated that the
quantity of pig iron made in the Cleveland district
in 1867 had been upwards of 1,142,000 tons, which
is considerably above the production of any other
locality. Mr. Isaac Louthian Bell presided at the
trade dinner after the close of the business meeting.
' The movement for establishing these periodical
meetings seems to have been well received by mem-
bers of the local trade.