Consett Iron Co., Ltd.

Registered in 1864

Registered – April 4, 1864, and owns the Chopwell, Garesfield, Langley Park, Victory, and other collieries in the county of Durham, limestone quarries near Stanhope (acquired in 1900), and iron and steel works at Consett. Coke-washing and by-product plants are erected at Templetown and Langley Park Colliery and new by-product plant known as the Fell Coke Works commenced operations in January, 1924. Two steamers have been purchased in order to secure the necessary and regular supply of ore to the blast furnaces. In conjunction with Guest, Keen & Nettlefolds, Ltd., the company has acquired a large interest in the Onconara Iron Ore Co., Ltd., owning iron ore properties in Spain.

Capital – £3,500,000, divided into 500,000 eight per cent, cumulative preference shares and 3,000,000 ordinary shares of £1 each. All the shares are issued and fully paid.

The capital was originally £400,000 in £10 shares, but was increased by various amounts in 1866, 1872, 1880 and 1886, and finally in November, 1890, from £1,000,000 to £1,500,000 by the creation of 100,000 preference shares of £5 each, which were offered share for share to the ordinary shareholders in December, 1890. The priority of these shares appiles to dividends only and not to capital. Of the ordinary shares only 73,600 were issued up to August, 1886, when 24,533 new shares were issued in the proportion of one new to every three old shares held, the new shares ranking for dividends pro rata with the old. The remaining 1,867 new shares were disposed of by auction on the 22nd November, 1890, realising a premium of £43,048 2s. 6d. On the 31st March, 1882, the paid-up capital was reduced by returning to the shareholders the sum of £8,355, being money paid in advance of calls. (This repayment was made out of profits.) In August. 1913, each ordinary share of £10 having £7 10s. paid was divided into 10 shares of £1 having 15s. paid and a bonus of 5s. per share was declared in order to meet call for a like amount, thus making the shares fully paid; at the same time the preference shares were sub-divided into £1 shares. Increased from £1,500,000 to present amount in September, 1919, by creation of a further 2,000,000 ordinary shares, which were alloted as fully paid out of undivided profits to holders of ordinary shares in the proportion of two or every one ordinary held.

First Debenture Stock – In May, 1922, £1,500,000, part of £2,500,000, was offered for public subscription at 99 per cent., repayable July 1, 1962, by annual drawings at par, commencing July 1, 1933, but the company reserves the right to pay off the whole or any of the debenture stock for the time being outstanding at 102 per cent. at any time after July 1, 1933. The company also reserves the right to purchase debenture stock at any time in the open market. Interest is payable July 1 and January 1.

Dividends – Paid half-yearly in January and July (free of tax). The following distributions have been made on ordinary shares since 1912-13 :—

1913-14	30	per cent.	1917-18	40	per cent.	1921-22	4	per cent
1914-15	12½	,,	1918-19	35	,,	1922-23	5
1915-16	50	,,	1919-20	12½	,,	(nine months).
1916-17	40	,,	1920-21	10	,,	1923-24 (interim)	2½

Accounts – For nine months ended March 31, 1923, submitted in Newcastle June 28, 1923, there was a profit of £187,036, making with balance forward a sum of £207,706; dividends (pref. and ord.) absorbed £142,500, written off special expenditure £4,319, debenture issue expenses £30,789, leaving £30,097 carried forward. Reserves £1,015,150.

Transfer form, common; fee, 2s. 6d. Voting power, one vote for every share. The debentures and shares are quoted in the Official List. Latest price, ord. 26s. 4½d.; pref., 26s. 1½d. debs., 102.

Source: Mining Manual & Mining Year Book for 1924

1936 - Advert from Durham Year Book (1936)
Source: Durham Year Book 1936

• 1875 Mines Inspectors Report (C. 1499), Durham by Thomas Bell, H.M. Inspector of Mines Where to find this report
• Consett Iron Co. Ltd. Information Booklet
• 1923 Colliery Year Book and Coal Trades Directory. Published by The Louis Cassier Co. Ltd., from a copy held in the Scottish Mining Museum, Newtongrange, Midlothian
• 1933 Colliery Year Book and Coal Trades Directory. Published by The Louis Cassier Co. Ltd., from a copy held in the Scottish Mining Museum, Newtongrange, Midlothian
• 1937 Colliery Year Book and Coal Trades Directory. Published by The Louis Cassier Co. Ltd., from a copy held in the Scottish Mining Museum, Newtongrange, Midlothian
• 1940 Colliery Year Book and Coal Trades Directory. Published by The Louis Cassier Co. Ltd., from a copy held in the Scottish Mining Museum, Newtongrange, Midlothian
• 1947 Colliery Year Book and Coal Trades Directory. Published by The Louis Cassier Co. Ltd., from a copy held in the Scottish Mining Museum, Newtongrange, Midlothian
• Mining Manual & Mining Year Book for 1924
• 1854 List of mines by T. Y. Hall, published in Vol II (1853-4) of the Transactions of the North of England Institute of Mining Engineers
• 1873-4 List of Mines - Government report from the Mines Department Where to find this report
• 1881 Mines Inspectors Report (C 3241) Where to find this report
• Mineral Statistics for 1883 - Government report from the Mines Department (C 4058), published in 1884 — includes List of Mines and Mineral Works
• Mineral Statistics for 1885 - Government report from the Mines Department (C 4771), published in 1886 — includes List of Mines and Mineral Works
• Mineral Statistics for 1887 - Government report from the Mines Department (C 5464), published in 1888 — includes List of Mines and Mineral Works
• 1888 List of Mines - Government report from the Mines Department Where to find this report
• 1894 List of Mines - Government report from the Mines Department Where to find this report
• 1896 List of Mines - Government report from the Mines Department, also available online at Peak District Mines Historical Society Ltd Where to find this report
• 1896 List of Quarries
• 1897 List of Quarries
• 1899 List of Mines - Government report from the Mines Department Where to find this report
• 1900 List of Mines - Government report from the Mines Department Where to find this report
• 1902 List of Mines - Government report from the Mines Department Where to find this report
• 1905 List of Mines - Government report from the Mines Department Where to find this report
• 1905 List of Quarries
• 1909 List of Mines - from Reid's Handy Colliery Guide Where to find this report
• 1910 List of Mines - Government report from the Mines Department Where to find this report
• 1915 List of Mines - Government report from the Mines Department Where to find this report
• 1921 List of Mines - Government report from the Mines Department Where to find this report
• 1922 List of Quarries - Government report from the Mines Department, from a copy held in the Scottish Mining Museum, Newtongrange, Midlothian
• 1923 List of Mines - Government report from the Mines Department Where to find this report
• 1925 List of Mines - Government report from the Mines Department Where to find this report
• 1930 List of Mines - Government report from the Mines Department Where to find this report
• 1935 List of Mines - Government report from the Mines Department Where to find this report
• 1940 Colliery Year Book and Coal Trades Directory published by Louis Cassier Co. Ltd.