OCR Text |
Show Depression In the European Iron TruUe. London, 26. A memorandum furnished fur-nished ihe foreign office by the president presi-dent of the British iron trade association associa-tion states that a large proportion of the furnaces are out ol blast, and a still larger proportion of the forges and mills for the production of mal-ableiron mal-ableiron Me closed. Thousands of workmen have been discharged, and the wages of those retained materially materi-ally reduced. The distress is greatest in the remaining districts of South Wales and the north ol England, but is also very great in Staffordshire and Midland counties and in Scotland. The deDrecsion is not confined to Eug land, but it? felt on the continent with the utmost severity. Germany and Belgium are thu greateit sufferers. France is not so bad off, but even their prices are extremely low, and the trade is evidently in a critical and unsound un-sound condition. |