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The technology is said to have been brought from Sweden by the industrial espionage of [[Richard Foley (ironmaster)|Richard Foley]] (1580-1657) ("Fiddler Foley") of Stourbridge, a [[Puritan]] and ancestor of [[Baron Foley]].{{sfn|Lloyd|1907|pp=23-24}}
The story is related as follows by Samuel III Lloyd (1827-1918) of [[Farm, Bordesley|Farm]], in his 1907 family history ''The Lloyds of Birmingham with some Account of the Founding of Lloyd's Bank'':
<blockquote>"It was early in the seventeenth century when the neighbourhood of Stourbridge was the centre of the nail-making industry of England that Sweden became a discomforting competitor to those engaged in this industry
How far this legend reflects what actually happened is doubtful. The earliest version of the story to name Foley is that of William Playfair in 1809,{{sfn|Playfair|1813|p=218n}} which takes him to Holland. However the earliest version was published by Stebbing Shaw,{{sfn|Shaw|1801|p=265}} quoting the manuscript history of [[Richard Wilkes of Willenhall]],{{sfn|Fernihough|pp=467-469}}
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* {{cite book |first=W. K. V. |last=Gale |title=The Black Country Iron Industry: a technical history |publisher=Iron and Steel Institute |place=London |year=1966 |pages=14–15}}
* {{cite book |last=Lloyd |first=Samuel |title=The Lloyds of Birmingham with some Account of the Founding of Lloyd's Bank|edition=2nd |publisher=Birmingham & London |year=1907 |url=https://archive.org/details/lloydsofbirmingh00lloyuoft/page/n7/mode/2up}}
* {{cite journal |last=Cooksley |first=M. V. |title=Hyde Mill |journal=West Midlands Studies |volume=14 |date=1981 |pages=
* {{cite book |last=Playfair |first=W. |title=British family Antiquities |year=1813 |volume=I}}
* {{cite journal |last=Shaw |first=S. Shaw |title=p. 265 |journal=History and Antiquities of Staffordshire |volume=ii |issue=1 |year=1801}}
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