iffe ▁valley ▁from ▁the ▁Earl ▁Fitz will iam ▁and ▁set ▁up ▁their ▁works ▁on ▁the ▁Th orn cl iffe ▁site ▁near ▁Chap elt own , ▁to ▁the ▁north ▁of ▁She ff ield . ▁The ▁company ▁built ▁The ▁Th orn cl iffe ▁Iron works ▁beside ▁the ▁Black burn ▁Brook ▁above ▁the ▁wood ed ▁valley ▁s lop es ▁where ▁the ▁min ing ▁was ▁to ▁be ▁carried ▁out . ▁ ▁The ▁first ▁bl ast ▁furn ace ▁was ▁completed ▁in ▁April ▁ 1 7 9 5 ▁and ▁the ▁second ▁in ▁ 1 7 9 6 . ▁The ▁first ▁had ▁a ▁capacity ▁of ▁ 1 5 ▁tons ▁of ▁metal ▁a ▁week , ▁while ▁the ▁second ▁could ▁produce ▁ 2 0 ▁tons . ▁The ▁two ▁furn aces ▁were ▁in ▁operation ▁for ▁ 7 8 ▁years ▁before ▁being ▁replaced ▁in ▁the ▁ 1 8 7 0 s . ▁Ar ound ▁this ▁time ▁- ▁for ▁the ▁first ▁ten ▁years ' ▁of ▁the ▁partners hip ' s ▁existence ▁- ▁interest ▁paid ▁on ▁capital ▁was ▁limited ▁to ▁five ▁per ▁cent ▁per ▁an num ▁and ▁the ▁working ▁partners ▁drew ▁only ▁" mod est " ▁sal aries ▁of ▁£ 8 0 ▁per ▁an num . ▁This ▁policy ▁was ▁intended ▁to ▁encou rage ▁the ▁growth ▁of ▁the ▁business , ▁and ▁it ▁certainly ▁enabled ▁it ▁to ▁surv ive ▁some ▁periods ▁of ▁poor ▁trad ing , ▁but ▁by ▁the ▁early ▁ 1 9 th ▁century ▁the ▁practice ▁of ▁mostly ▁leaving ▁acc ru ed ▁prof its ▁within ▁the ▁business ▁led ▁to ▁disput es ▁with ▁some ▁sleep ing ▁partners .