Jeff,
 
I don't know anything about pig iron, but it seems that leases
for industrial properties which stipulated partial payment in the product
of the lessee were not uncommon.  I know of one instance here in
Alexandria, Virginia in which a man renting a structure for the purpose of
brewing was required to deliver a quantity of beer annually in addition to
a cash payment.  This type of thing may have occured with any kind of
sought-after or valuable product.  I imagine it's possible it may have
been more common here in the coin starved colonies and early republic. 
 
Tim Dennee
 
 
On Wed, 10 Sep 1997, Jeff Morris wrote:
 
> While examining a number of leases for forge and furnace in the early 18th
> century I have encountered the following clause stipulated by the owner.
> 
> '175 tuns of well blown pig metall...to be supplied at the end of the lease
> at a price of £5 5/- per tunn..if one years notice given that this is required.'
> 
> Are such clauses common in this type of lease(either in Britain or elsewhere)?
> 
> And can anyone provide information as to what would be the market price for
> a ton of pig iron in 1700, 1710 and 1720 (in pounds shillings and pence please).
> 
> Many thanks,
> 
> 
> Jeff Morris
>