Moss Bay Hematite Iron and Steel Co

1881

1883

1898

1900.

of Workington, Cumberland.

1871 Moss Bay Hematite Iron Company was reported to be intending to erect 3 blast furnaces at Salter Beck, between Harrington and Workington.

1872 Lease for site dated 24 Jul 1872 shows partners as Peter Kirk, Workington; Charles James Valentine, Workington; Peter Gibson Quirk, Workington; Mary Gibson, Workington; and Henry Kenyon, Maryport. Kirk and Valentine were already in business together as rolled iron bar manufacturers at Derwent Rolling Mills, Stanley Street, Workington.

1873 Start up date for the works has not been found, but certainly before Dec 1873. Moss Bay was unusual at the time in reusing blast furnace waste gases. It also featured 14 puddling furnaces using a design patented by Peter Kirk (Patent 1668 of 1869).

In December it was reported that the output of one furnace was dedicated to supplying the Derwent Rolling Mills of Kirk and Valentine.

1873 Claim a Medal of Merit at the Vienna Exhibition of 1873 (ref adverts attached). This is a bit of a puzzle as they are unlikely to have begun manufacture when the fair opened on 1 May, and are not mentioned in the official catalogue as exhibitors (indeed there were no exhibitors from Cumberland at all).

1874 The partners leased coal, fireclay, argillacious ironstone and limestone at Branthwaite, Dean.

1875 Three furnaces in blast.

1875 H Kenyon left the partnership on 31 Dec 1875. “Notice is hereby given, that the Partnership heretofore subsisting between the undersigned, Peter Kirk, Charles James Valentine, and Peter Gilson Quirk, all of Workington, in the county of Cumberland, and Henry Kenyon, of Maryport, in the same county, Iron Manufacturers,' heretofore carrying on business in copartnership as Iron Manufacturers, at Moss Bay, near Workington aforesaid, and at Workington aforesaid, under the name or style of the Moss Bay Iron Company, was dissolved and determined, by mutual consent, as far as regards the said Henry Kenyon, on the 31st day of December, 1875.—Dated this 23rd day of December, 1879. He was replaced by Joseph Ledger

1876 Construction of new steel plant in progress, including Bessemer converters and rolling mill.

1877 Name changed to Moss Bay Hematite Iron and Steel Company. Steel production was to be focused on the manufacture of steel rails and sleepers.

1881 Moss Bay Hematite Iron and Steel Company Limited (number 15042) registered 1 Mar 1881 with capital of £350,000. To take over and run the established business of the Moss Bay Hematite Iron and Steel Company, hitherto a private company for £242,739. The four present partners (Kirk, Valentine, Quirk and Ledger) to be paid in shares. Directors:- Joseph Ledger, Esq., ironmaster (Aireside Hematite Iron Company. Leeds), Castellette Tower, Keswick, Chairman. Thomas D. Ridley, Esq., contractor, Coatham, near Middlesbrough. John Bowman, Esq., Polam Grange, Darlington. Peter G. Quirk, Esq., ironmaster, Workington. Charles James Valentine, Esq., ironmaster, Workington. Peter Kirk, Esq., ironmaster, Bankfield, Workington. Messrs Valentine and Kirk to be managing directors.

1882 Dissolution of former partnership. “Notice is hereby given, that the Partnership heretofore subsisting between us the undersigned, Peter Kirk, Charles James Valentine, Peter Gibson Quirk, and Joseph Ledger, trading together as the Moss Bay Hematite Iron and Steel Company, at Workington, in the county of Cumberland, is dissolved by mutual consent.—Dated this 25th day of May, 1882.”

1882 Made agreement to work the Iron Riggs Mine Royalty, Woodend, Egremont.

1882 Produced 93,800 tons of pig iron, 88,000 tons of steel ingots and 73,000 tons of steel rails. 1,000 men employed.

1883 See item from Bulmer’s Directory of West Cumberland describing the works attached. Manager, Joseph Ledger, Joint MDs, Peter Kirk and Charles J Valentine.

1884 “4 Blast Furnaces, 2½ in blast”. (Assume ½ means one in blast for half the year). Owner of iron mine at Woodend, 7,472 tons raised.

1885 Derwent Rolling Mills (or Quay Forge), Stanley Street, Workington, which the company owned, had been leased to Kirk Brothers in about 1883. This freehold site had formerly been Kirk and Valentine’s business (above), and at some point they must have passed ownership to the Moss Bay company. As the lease had expired they had decided to use the site themselves for the manufacture of steel tram rails and steel railway sleepers under Peter Kirk’s recent patents.

1886 The Engineer published a very detailed and informative description of the Moss Bay works.

1887 Trade very slack and a loss was reported for the preceding year.

1887 To meet demand for rails in America the company decided to establish a duplicate iron and steel works in Washington, USA. Peter Kirk had been in America for some time securing the site and mine royalties, and was to relocate permanently.

The Moss Bay Iron and Steel Company of America was incorporated in 1888 and construction began, but the project failed in 1889 for want of funds. A new company, was formed, involving Kirk, but not, as far as can be ascertained, the British Moss Bay company. The works, though almost completed, never produced steel. Peter Kirk stayed in America for the rest of his life.

1888 Trade was still slack and a further loss was reported for 1887. Notwithstanding this, they had decided to press on with developing their ore mine at Woodend, rather than accept an offer to buy it.

1890 On 29 March the company notified its shareholders that that owing to the recent fall in prices and to low priced contracts it had been compelled to suspend payments. The directors believed, however, that the company was amply able to pay all its debts in full, and that an entire reconstruction of the company's affairs should take place preserving the interests of the shareholders. By 3 Apr Mr W B Peat had been appointed provisional liquidator with powers to restart and continue the works while rearranging the company affairs.

After much work and negotiation, involving shareholders, creditors and workforce, a restructuring plan was proposed by the liquidator and directors, and agreed by the shareholders and creditors. A new company of the same name was to be created to take over the assets and liabilities of the old one. W B Peat was confirmed as liquidator for the old company (15042).

The reconstruction plan was approved in the Court of Chancery in Jan 1891, though the case for the creditors was to rumble on in court for another 12 months or so.,

In the meantime.... "The Moss Bay Iron and Steel Works, Workington, have been closed by the official liquidator, on the ground that he cannot pay the present rate of wages, and make pig iron at the existing price of raw materials except at a loss of 5s. per ton. The closing of these works will throw some 1200 or 1400 men out of employment in connection with these works. This is greatly to be regretted at the present time."

The new company, also called Moss Bay Hematite Iron and Steel Company Limited (number 33663) was registered on 25 Mar 1891. Directors appointed were C J Valentine, Workington; J S Randalls [sic], London; William McCowan, Distington Iron Company; Mr Mallelieu, Delph ; Mr W. Hudspith, Haltwistle; Mr W. Burnyeat, jun,, Whitehaven. C J Valentine became managing director and William McCowan chairman.

1891 C J Valentine stepped down as managing director and was replaced as MD by William McCowan. At about the same time, 1891 Mr James Crawford, who had been manager at the Cleator Moor Works of the Whitehaven Hematite Iron and Steel Co for 3 years, left to take up the post of manager at the Moss Bay company. He had been responsible for a major turn around of the Cleator Moor works, also under William McCowan.

1892 Intention to have works ready to start in July, with 2 furnaces to be put into blast.

1892 Derwent Rolling Mills, Stanley Street, Workington, sold to the Gas Works for £650 to allow the latter to expand.

1893 AGM (3rd) - Company reported to be prospering under new management, with a profit of £8,862 declared, though no dividend on ordinary shares (the profits all going to the debenture holders) Note company financial year ended 30th June.

1893 In the early 1890 a series of improvements were carried out to Harrington Harbour allowing Moss Bay and others to receive ore and ship products. In 1893 the construction began on an extension to the Cleator and Workington Railway into Harrington Harbour, allowing direct connection between the Moss Bay and Derwent Works and the port. Extensive sidings were laid down below Walker’s Brow, as shown on the 1898 map attached.

1895 AGM - Despite what was described as the worst year ever for the iron and steel trades in West Cumberland, the works had remained at full capacity and a profit of £8,037 was declared, though again no dividend on ordinary shares. 1896 AGM - A profit of £22,000 had been made in the year and it was hoped that soon they would be in a position to start paying dividends. In December it was reported that they had won an order for 25,000 tons of sleepers for a Brazilian railway.

1897 AGM - Profit after debenture interest was £44,704.

1898 AGM - Profit after debenture interest was £35,509. A dividend of 2½% was paid on ordinary shares. A fund was being built up for the redemption of debentures. Thereafter, profits and dividends remained fairly steady and have not been included in this page.

1899 New issue, £125,000, 4½% first mortgage, 20 year debentures issued.<Financial Times – 18 Jan 1899</Ref>

1899 AGM - To meet increased demand, an additional blast furnace was being prepared. To provide an increased supply of ore from their own mines, the company had leased a considerable area at Egremont and commenced boring. It is believed that this refers to what was later known as the Winscales Royalty, south of Egremont.

1899 James Crawford left his post as manager (moving to Bolckow, Vaughan and Co., Middlebrough) and was succeeded by works engineer Frank Beattie.

1900 Acquired an iron ore royalty at Row Farm, Gosforth and began boring (nothing more was heard of this so it is assumed they failed to find ore).

1900 Death of chairman, William McCowan, 5 Mar 1900. He was replaced as chairman by John S Randles (John Scurrah Randles) and Joseph Ellis (managing director of the Workington Hematite Iron and Steel Company) was appointed a director.

1900 Death of managing director Charles James Valentine on 5 Nov 1900. His son, Herbert Valentine was elected a director to fill the vacancy.

1901 AGM – New blast furnace started up. In 1900 it have been decided to write off their mining investment at Winscales, but another party (Messrs Wadham, Turner and Hartley of, amongst other interests, the Gillfoot Mining Company) had agreed to co-invest, so the Beckermet Mining Company Limited had been registered in June with Moss Bay owning 50%. Though it was to take several years, this ore body proved to be the largest deposit in Cumberland. See also Mine and Quarry Engineering April 1954

1902 AGM - Robert Ernest Highton, company secretary and commercial manager, appointed a director in place of Henry Mallalieu.

1903 Leased a portion of the Curwen coal royalties near Harrington. Boring found a wide area of coal at 30 fathoms.

1905 AGM - Completed a four year programme of improvements to the works, at a cost of £82,000. Production of pig iron had increased from 73,000 tons in 1900 to 154,000 tons in 1905. During the year they divested themselves of 75% of their 50% shareholding in Beckermet Mining Company. Own lease to Clintz limestone quarry (adjacent to Woodend mine), but when this was acquired is not clear.

1907 – Had acquired most of the equity in Pallaflat Iron Ore Company (iron ore mine near Bigrigg) for £10,500. The Beckermet mine had began raising ore and showed good promise.

1908 AGM – a difficult year for the company, with severe drop in profits caused by a drop in demand for their key market in steel rails and strong pricing for coal and raw materials.

1909 Amalgamated with other local firms to create the Workington Iron and Steel Company. The companies/works involved were Moss Bay Hematite Iron and Steel Company Ltd., Workington Iron Company Ltd. (Lowther Works, Workington Works and Oldside Works), Harrington Iron and Coal Co Ltd. and the west coast works of Cammell Laird and Co. specifically the Derwent and Solway works (their Lowther works having already been acquired by Workington Iron Co in 1908).

The scheme of amalgamation and the winding up of the company was approved at an EGM on 12 Jul 1909. The Workington Iron and Steel Company Limited (number 104491) was registered 12 Aug 1909 with nominal capital of £2,000,000. Liquidator’s accounts are held by the National Archives, ref BT 34/764/33663

At the time of the merger the directors of Moss Bay were Sir John S Randles, William Burnyeat, Franklin Mallalieu, Herbert Valentine, Joseph Ellis and Robert Ernest Highton (managing). The works comprised 4 blast furnaces, 3 Bessemer converters, 1 open hearth furnace, rail mills, fishplate mills, etc. Sir John Randles was to be chairman of the new company and the other Moss Bay directors all joined the new Board.

The Moss Bay Works closed in 1982.

See Also

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