40:
504:
260:, rather than distributing money to shareholders. As a result it relied less on loans to survive business cycles and had lower interest rates when it did borrow. He also provided workers with schools, churches, a park, hospital, and other facilities. He died in 1895. The company's share of the British steel market reached a peak of 7.1% in 1894, falling to 4.2% by 1910. Business historians H.W. Richardson and J.M. Bass praised Jenkins's business judgement and choice of managers.
1172:
495:, at a time when iron, coal and shipbuilding were all in steady decline in Britain. By this time British Steel had grown complacent, was running below capacity and was using obsolete technology. Raw material costs for coal and oil were rising and it lacked capital for new manufacturing equipment. Government policy to keep employment artificially high increased the organisation's difficulties.
248:
1278:
1180:
1296:
255:
William
Jenkins was Consett Iron Company's general manager from 1869 to 1894. Under his leadership, the company experienced sustained profit for the first time, despite severe fluctuations in market conditions, such as the industrial depression that took place from the late 1870s to the early 1890s.
440:
William
Jenkins was succeeded by the manager under him, George Ainsworth, who served as general manager from 1851 until his death in 1894. The company initially remained in profit, but its equipment and technology was not updated due to the lack of available space at Consett; a move was considered
218:
almost a million pounds. It was put up for sale, but an attempted sale to the newly formed
Derwent and Consett Iron Company fell through. On 4 April 1864, after operating for several years under the threat of bankruptcy, a new Consett Iron Company Ltd was formed with capital of £400,000. This was
427:
capable of making around 12,000 bricks per week. The estate had grown to roughly 2,700 workers' cottages. The company ran a 16-bed infirmary to treat injured workers. The 6,000 workers were paid an average of £5.33 a month. The company continually invested in modern equipment, such as a
395:, for rails. As a result, production at Consett fell by a third. The company switched production to iron plates, demand for which was rising rapidly for shipbuilding. In 1882, Consett Iron Company began to switch production again, this time to steel plates for
514:
Amidst intense debate and large demonstrations by workers and sympathizers, Consett Steel Works was closed in 1980. Around 3,000 to 4,000 workers lost their jobs, resulting in an unemployment rate of 35% in
Consett, twice the national average at the time.
407:
to convert pig iron to steel by burning off excess carbon. The first
Siemens furnaces at Consett came into production in 1883. In 1887 the company began to produce steel in a variety of cross-sections, such as angle (L-section) steel, rolled joists and
444:
By 1924, the company had share capital of £3,500,000 (£185 million in 2013 terms); it had also issued £1,500,000 (£74 million in 2013 terms) in debenture stock in May 1922. In 1938, the company helped to finance the founding of the New
39:
484:, along with all of Britain's steelworks. The Consett steelworks was privatised in 1955, and a new steel plate mill was opened in 1961 to supply the shipbuilding industry. About 6,000 workers were employed at the works at that time.
1381:
503:
1341:
581:, the Derwent Iron Company submitted the plans to the S&DR, who agreed to the extension as long as the Derwent Iron Company leased the entire southern section of the former S&TR to them. The
1356:
1072:
518:
The sky over
Consett, which had long been famous for its thick haze of red iron oxide dust thrown up by the steelworks, cleared as did the cloud of steam typically found around the tall
1366:
944:
577:
station, to provide a southern shipping route for their lime and iron products, and to give access to more ironstone. Having obtained an extension of their right of way from the
1361:
1015:
195:
around the town. The best local ironstone (with the highest iron content) was exhausted soon after, so the company arranged for extensions to the local railways, such as the
1391:
533:, made with materials from the site, recall past industry. Employment gradually returned to the area in the following decade, with a more diversified industrial base.
703:
Cleveland ironstone. Outline of the main or thick stratified bed, its discovery, application, and results, in connection with the iron-works in the north of
England
148:
in the United
Kingdom. The company owned coal mines and limestone quarries, and manufactured iron and steel. It was registered on 4 April 1864 as successor to the
1396:
1336:
585:
to
Carrhouse section passed into the possession of the S&DR on 1 January 1845, with the completed 10 miles (16 km) Weardale Extension Railway from the
1331:
481:
164:
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for shipbuilding. For this purpose it created the Angle Mills on a sixteen-acre site, able to produce 1,500 tons of angles, bars and girders per week.
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573:. As a result, the Derwent Iron Company proposed an extension from Crook to the foot of the Meeting Slacks incline, which latter became
163:, when British coal companies were nationalised in 1947. The Consett Iron Company itself was nationalised in 1951, becoming part of the
415:
By 1889, the Angle Mills site was the largest steel plate factory in the world. In 1892, in addition to steelmaking, the company had a
1351:
891:
224:
562:
196:
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200:
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1098:
781:
167:. It was denationalised shortly afterwards, then renationalised in 1967. The Consett Iron Company was absorbed into
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550:
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108:
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but rejected. The company did not switch to electrical power as others had and its technology became obsolete.
1127:
183:
In 1840 a group of local businessmen led by
Jonathan Richardson set up the first of several iron companies in
239:
and 50,000 tons of finished iron per year. It also owned a thousand workers' cottages and 500 acres of land.
582:
706:
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divided into 40,000 shares priced initially at £10 each, with J. Priestman as managing director. Two local
400:
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199:. These allowed it to access new sources of ironstone, including, from 1851 onwards, ore from the
208:
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Deviating from the Path of Safety: The Rise and Fall of a Nineteenth Century Quaker Meeting
1240:
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1173:"First they shut the Consett works and then came recession but ... The steel remains"
680:
465:
1224:. Business History, Vol. 7, Issue 2, 1965. Pages 71–93. DOI: 10.1080/00076797400000015.
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392:
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The company's seven collieries and various coke ovens came into the ownership of the
145:
78:
970:
Blair, Alasdair M. (Winter 1997). "The British iron and steel industry since 1945".
458:
454:
429:
396:
17:
640:
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94:
705:. North of England Institute of Mining Engineers. p. 168. Archived from
461:
using lower quality iron ore. It employed about 12,000 workers at that time.
1241:
The Consett Iron Company Limited: a case study in Victorian business history
590:
553:
from the company to enable it to access new sources of ironstone. After the
420:
192:
1254:
Garside, W. R. "Consett Iron, 1840–1980: a Study in Industrial Location";
510:
Stainless steel sculpture beside the coast-to-coast (C2C) path at Consett.
756:
602:
This corresponds to a purchasing power of £98 million in 2013, using the
569:
to Crook, which opened on 8 November 1843, from a junction on its leased
236:
129:
525:
Almost all traces of the Consett steelworks have been removed. Only the
416:
409:
184:
141:
74:
522:
and chimneys. Some Consett steel workers took part in the demolition.
391:
Around 1876, railways around the world began to use steel, instead of
446:
472:. In 1951, the rest of the Consett Iron Company was nationalised by
1211:. Mawson, Swan and Morgan, Newcastle upon Tyne, 1892. Reprinted as
931:
Buried 21 January 1920, Blackhill Cemetery, Consett, County Durham.
502:
457:
of 1936. The Consett Iron Company continued production during the
246:
204:
687:
Page nos refer to online pages e.g. '2' means 'Early History'.
549:
In 1842 the company bought the southern section of the former
423:) capable of making 150 tons of iron castings per week, and a
251:
William Jenkins (1825–1895), general manager from 1869 to 1894
916:"National Burial Index for England & Wales Transcription"
487:
Consett Steel Works was renationalised in 1967, this time by
256:
The company retained what at the time were large amounts of
235:. The company had the capacity to produce 80,000 tons of
1382:
Companies formerly listed on the London Stock Exchange
464:
In 1947 all of Consett Iron Company's coal mines were
231:, were among the directors. It became the owner of 18
1342:
Defunct manufacturing companies of the United Kingdom
1221:
The Profitability of Consett Iron Company Before 1914
262:
1357:
Former nationalised industries of the United Kingdom
125:
115:
104:
92:
84:
70:
62:
54:
46:
175:. British Steel Consett Works was closed in 1980.
993:"Nation on Film: Steel Towns – from Boom to Bust"
432:(a powerful air pump) that was acquired in 1893.
191:), the Derwent Iron Company, to quarry and smelt
939:
937:
685:. Newcastle on Tyne: Mawson, Swan, & Morgan.
1367:Manufacturing companies disestablished in 1980
264:Varying profitability at Consett Iron Company
214:By 1857, Consett Iron Company owed the failed
171:in 1967, and the location became known as the
1305:– The National Archives, 1951–53, Ref BE 2/61
1099:"Local History: Consett heritage in pictures"
1016:"Consett remembers closure of its steelworks"
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1077:Focus on Consett meltdown as steelworks shut
453:which had collapsed in 1933, leading to the
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1362:Manufacturing companies established in 1864
482:Iron and Steel Corporation of Great Britain
165:Iron and Steel Corporation of Great Britain
152:Ltd. This in turn was the successor to the
563:Stockton and Darlington Railway (S&DR)
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140:was an industrial business based in the
1299:– Science & Society Picture Library
619:
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216:Northumberland and Durham District Bank
1316:Timeline History of Consett Iron Works
1265:. Quaker Studies. 8:1, p. 68-88 .
1244:, PhD rhesis, Durham University, 1973.
987:
985:
604:Bank of England's inflation calculator
130:http://www.dmm.org.uk/company/c002.htm
1397:British companies established in 1864
1337:Steel companies of the United Kingdom
1208:Description of the Consett Iron Works
751:
749:
682:Description of the Consett Iron Works
451:Palmers Shipbuilding and Iron Company
7:
972:Journal of European Economic History
27:Industrial business based in England
1332:Ironworks and steelworks in England
1230:Business History: Selected Readings
468:, coming under the control of the
150:Derwent & Consett Iron Company
25:
1377:1980 disestablishments in England
1347:Companies based in County Durham
1276:
1171:Bowen, David (16 January 1994).
1050:. Faber and Faber. p. 192.
1014:Wood, Kerry (19 February 2010).
480:government into the short-lived
1218:Richardson, H. W., Bass, J. M.
1126:. NorthEastLife. Archived from
699:"NEIMME Transactions, Volume 5"
197:Stockton and Darlington Railway
1372:1864 establishments in England
1071:Marshall, Ray (17 June 2009).
870:Richardson and Bass, page 157.
1:
1261:O'Donnell, Elizabeth (2003).
886:. Ad Publishing. p. 77.
834:"William Jenkins (1825-1895)"
243:Success under William Jenkins
201:Cleveland Ironstone Formation
1048:County Durham (Shell Guides)
138:The Consett Iron Company Ltd
732:"Stanhope and Tyne Railway"
643:. Grace's Guide. 4 May 2012
449:Steel Company from the old
1413:
1213:Consett Iron Works in 1893
883:Consett Iron Works in 1893
567:Weardale Extension Railway
565:began construction of the
880:Jenkins, William (2008).
679:Jenkins, William (1892).
551:Stanhope and Tyne Railway
493:British Steel Corporation
275:Profit on Capital %
169:British Steel Corporation
109:British Steel Corporation
37:
1352:History of County Durham
1303:Consett Iron Company Ltd
1150:"Photographs of Consett"
1124:"Consett, County Durham"
1036:. Retrieved 14 May 2012.
491:'s government, into the
419:(a mile from Consett at
1073:"Remember When Stories"
1046:Thorold, Henry (1980).
788:. The National Archives
593:opening on 16 May 1845.
1227:in Tucker, Kenneth A.
1215:. Ad Publishing, 2008.
757:"Consett Iron Co. Ltd"
557:constructed a line to
511:
401:Siemens-Martin process
252:
1318:– Challenging History
823:Kenneth Tucker, 1977.
819:Bass and Richardson,
782:"Consett Iron Co Ltd"
697:Marley, John (1856).
506:
250:
221:members of parliament
761:Durham Mining Museum
587:Wear Valley Junction
405:open hearth furnaces
154:Derwent Iron Company
33:Consett Iron Company
1079:. Evening Chronicle
1034:Consett Steel Works
1020:chroniclelive.co.uk
914:Ainsworth, George.
555:West Durham Railway
470:National Coal Board
265:
173:Consett Steel Works
161:National Coal Board
156:, founded in 1840.
117:Number of employees
100:£673 million (1900)
34:
18:Consett Steel Works
1233:, Routledge, 1977.
1205:Jenkins, William.
1130:on 24 January 2013
734:. Disused Stations
512:
263:
253:
1258:; 1 October 1991.
1101:. BBC. March 2008
1057:978-0-571-11640-9
995:. BBC. April 2004
951:on 6 October 2014
641:"Consett Iron Co"
436:Twentieth century
389:
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272:Net Profit £'000s
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16:(Redirected from
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1185:. Retrieved
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978:(3): 571–81.
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776:
764:. Retrieved
760:
736:. Retrieved
711:. Retrieved
707:the original
702:
692:
681:
645:. Retrieved
598:
545:
530:
526:
524:
517:
513:
507:
486:
466:nationalised
463:
455:Jarrow March
443:
439:
430:Roots blower
414:
403:. This uses
397:shipbuilding
390:
254:
213:
182:
172:
158:
153:
149:
137:
136:
71:Headquarters
29:
529:sculptures
121:6000 (1892)
1326:Categories
1310:Children's
1152:. Railscot
955:17 October
925:20 October
792:13 October
766:13 October
614:References
531:(pictured)
425:brickworks
399:using the
95:Net income
50:Ironmaking
1187:26 August
840:5 January
786:Discovery
591:Waskerley
575:Waskerley
421:Crookhall
209:Cleveland
193:ironstone
738:18 March
583:Stanhope
237:pig iron
144:area of
85:Products
47:Industry
1387:Consett
1291:General
1200:Sources
899:2 April
499:Closure
417:foundry
410:girders
258:capital
185:Consett
142:Consett
126:Website
75:Consett
63:Defunct
55:Founded
1156:14 May
1134:15 May
1105:14 May
1083:15 May
1054:
999:14 May
890:
713:14 May
647:14 May
561:, the
478:Labour
447:Jarrow
111:(1967)
559:Crook
537:Notes
385:12.4
374:13.6
363:38.7
341:38.6
319:15.6
308:33.7
297:24.5
205:Eston
203:near
105:Owner
1189:2017
1158:2012
1136:2012
1107:2012
1085:2012
1052:ISBN
1001:2012
957:2014
927:2014
901:2012
888:ISBN
842:2021
794:2014
768:2014
740:2013
715:2012
649:2012
379:1910
368:1905
357:1900
352:8.6
346:1895
335:1890
330:8.6
324:1885
313:1880
302:1875
291:1870
280:1865
269:Year
227:and
66:1980
58:1864
589:to
476:'s
382:221
371:245
360:673
349:115
338:366
316:104
305:215
294:102
286:12
1328::
1175:.
1115:^
1075:.
1018:.
984:^
976:26
974:.
936:^
918:.
850:^
821:in
802:^
784:.
759:.
748:^
723:^
701:.
657:^
622:^
327:60
283:39
223:,
211:.
207:,
77:,
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959:.
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903:.
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796:.
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651:.
606:.
187:(
20:)
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