The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1892-09-13
WELSH TIN PLATE.
The Mckinley Bill Has Doomed
the Industry in Great Britain.
OTHER ENGLISH INDUSTRIES.
Wool and Lace Markets In Bad Com
ditlon.-.-Failures Immincnt----The
Mckinley Bill Bringing tho Tin
Plate Business to the United States.

LONDON, September 1.-THE feeling
Is growing in Wales that the tin plate
trade with America is doomed to vir-
tual extinction. Tin plate works in
Wales are closing every week, and the
best men that have been employed in
them are going to the United States.
Those who have taken an optimistic
view OF the situation predict that the
trade will be saved from destruction by
the capture OF new markets to take the
place Of the American. It is asserted
that Norwood & Co., OF Llanelly, have
invented a machine enabling them to
dispense with the work OF tinmen and
washmen and to make tin sufficiently
cheap to overcome the difference in Ia
yor OF the American manufacturer Gre
ated by the Mckinley tariff.
On the other hand those who take Q
pessimistic view OF the situation and
prospects point to the fact that sixty
factories in England and Wales, for.
merly engaged in the manufacture OF
tin plate, have stopped, and that doz-
en- more are preparing to close. They
curse Mckinley US responsible for all
this.
The decline OF tin plate manufacture
and other causes are menacing the iron
industries OF Wales. As evidence OF
the depressed condition OF the iron in
dustries 1t may be mentioned that the
famous Tredegar iron works is dismiss
ing n number OF workmen. and the
management is considering whether it
may not be necessary to shut down.
The ironmasters complain that the
coal owners arc gradually crushing the
iron trade to death.
WOOL MARKET DEPRESSED.
The wool market is in worse con-
dition than for twenty years past. A
series OF local failures has paralyzed
Bradford, the four largest failures ag-
gregating $5,000.000 OF liabilities, and
the smaller failures being numerous.
One OF the largest spinning firms, en-
ploying 1000 hands, is said to be
trembling in the balance. Confidence
> is destroyed and speculation dead.
Prices are generally the lowest for fifty
years, and the sales to be held next
week in London and Bristol Will be q
test Of the belief expressed in Bradford
that prices have reached zero, and are
sure to rise.
Other causes besides the Mckinley
law have served to bring this about, the
chief OF these being excessive produc-
ton by manufacturers who have greatly
increased their production by means OF
new machinery. It is now apparent
that they would have been wiser to
have kept in bank the money expended
for the machinery. AS it is, not only
is the market overstocked at home, but
the South American and colonial mar
kets are said to have supplies enough
for two years to come.
THE LACE MARKET Dad.
The market for lace is also bad, al
most the only exception to the general
depression being the demand for cotton
lace, the export Of which in the month
OF August shows an increase Of $4,000
pounds, while the silk lace exported to
America has doubled in value in each
OF the last three years. These, however,
are petty gains compared with tho pre-
valent depression. The feeling in the
city Of London is OF tho gloomiest char
acter, and the failures Of at least one
bank, one Scotch insurance company
and several joint stock companies con-
nected with land and building are be-
lieved to be impending, A firm OF
builders with enormous contracts in the
West End will probably fail on Monday
for G500,000.