The town grew in prosperity due to its position on frequently travelled routes, local sheep farming, and cottage industries including leather and cloth. There were weekly markets in the town square for sheep, horse and cattle trading, and two annual fairs, in June (on the feast of St Peter and St Paul) and November (on the feast of St Andrew). An autumn fair which began in the early 19th century was held in October on The Heath, called “The Taro Fair”. The town’s market square has an 18th-century statue of King William III by Henry Cheere. The king is mounted and the statue is on an engraved plinth. It is one of only five statues of William in the United Kingdom outside Northern Ireland (the others being in Glasgow, Brixham, Hull and Bristol) and, as such, attracts bands of marching Orangemen in mid-July to commemorate William’s victory at the Battle of the Boyne. Petersfield is situated in the valley of the Western Rother, on the Lower Greensand at the northern edge of the South Downs. The town lies at the western end of the Greensand Ridge, a sandstone ridge running through Hampshire, Surrey and Kent.