To solve this problem, we need to understand the equilibrium involved in the reaction:
$Fe(OH)_3(s) \rightleftharpoons Fe^{3+}_{(aq)} + 3 OH^-_{(aq)}$
The equilibrium constant expression for this reaction is given by:
$K_{sp} = [Fe^{3+}][OH^-]^3$
Here, $K_{sp}$ is the solubility product constant, which remains constant at a given temperature.
If the concentration of $OH^-$ ions is decreased by $\\frac{1}{4}$, the new concentration of $OH^-$ becomes:
$[OH^-]_{new} = \\frac{1}{4} [OH^-]_{initial}$
Substituting the new concentration in the equilibrium expression, we have:
$K_{sp} = [Fe^{3+}]_{new} (\\frac{1}{4} [OH^-]_{initial})^3$
Comparing the new and initial scenarios, we get:
$K_{sp} = [Fe^{3+}]_{initial} [OH^-]_{initial}^3 = [Fe^{3+}]_{new} \\frac{[OH^-]_{initial}^3}{4^3}$
This simplifies to:
$[Fe^{3+}]_{new} = 4^3 \times [Fe^{3+}]_{initial}$
Thus, $[Fe^{3+}]_{new}$ is $64$ times the initial concentration of $Fe^{3+}$.
By reducing the $OH^-$ concentration to a quarter, the equilibrium shifts to increase the concentration of $Fe^{3+}$ by 64 times to maintain the constant $K_{sp}$.
Therefore, the correct answer is:
64 times