The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1879-06-28
ItUSINl&s.


Money Easy al Pittsburgh - BHSihess
Ahead Of Last Year NJ ChlenEo'-
prOVement or Heal Estate 10 New YORK
The Pennsylvania RaiIr0ad'S Earn
IngG- Other Items OF Interest.
At Pittsburgh money Is steadily increas'
ing in the bank vaults, notwithstanding
the fact that up to this time the bank clear
inns show an excess in the volume OF bus
mesa compared with the first six months
Of last year. Loans are quoted at and
Il per cent on hrst.class collaterals, 0 and
ION prime business paper, and 7 and s on
oil certificates.
Al Chicago according to the Times oil
Thursday, business, though comparative
~ quiet, is certainly good for this season,
this being the time Of the year when dull
ness is usually expected. In dry goods,
boots and shoes, manufactured clothing,
millinery, hats and caps, hardware, drugs
and other leading commercial interests
the movement continues AHEAD OF last
year, and the promptness with which
country payments arC made speaks well
for the state OF affairs in the West. The
recent line crop reports have raised the
spirits OF farmers and merchants wonder
fully, and the best Of anticipations are ex.
pressed concerning the autumn trade.
Baggng is fairly active and very firm, In
sympathy with the advance In the raw
materials, and leather Is firm also, with an
upward tendency IN some descriptions,
Coal remains unchanged, and wood, naval
stores and couperage are quiet and dull.
The demand Tor building materials and
timers stock is fair, and nails are still or
dered ut - % rates."
AZ New York there was a sale on
Wednesday OF the block bounded by Fifth
and Madison avenues and Soyenty-eighth
and Seventy.ninth streets, comprising
thirLy-two lots. The price was $4,000
The property was offered last summer at
$5OO,OOO without elicting n bid. During
the war 100000 in greenbacks was re.
fused for it. The name Of the buyer is
not disclosed. This sthe only real estate
sale on the West Side so far up town for
some time, and the price is far above any
thing that could lie obtained for many
years.
The second.c;lss Eastern cities that have
occasion to borrow these days are on the
look out for cheap loans, being stimula-
ted to this inquiry by the extraordinary
success Of 4 per cents. For instance,
Hartford, Conn, is advertising for bids
for loan Of S750,OOO to run for twenty.
five years, with the privilege Of redemp.
ton ut the end Of ten years. 1t appears
that the loan is to be issued in bonds Of
$1,000 each, exempt from taxation under
existing laws until 1890.
II is thought by some people that there
lisa speculation in iron at present prices,
and it is said that some large purchases
have been made at Pittsburgh. The Dis.
patch OF yesterday says:
Manufacturers OF this city express q
belief that the hoped.for change for the
better in the condition OF our important
industries has come ut last A grade OF
iron that sold three or four weeks ago for
SIG could not DO bought week ago for
less than SIC 90, and to-day the same iron
is readily sold at SIT and will probably ad-
vance still further. There has been an
increase OF price in the various grades Of
the cheaper class Of iron, Of from fifty
cents TO dollar ton all around. The
makers Of pig iron are beginning TO see
that they can ask more for their goods,
and that they will get their price, and by
this time next year, it is thought, the iron
men will look back and wonder how they
ever were so foolish rs TO sell Superior
iron for $l7 atom. OF course such an out
look as this has caused the manufacturers
TO make extensive purchases OF pig iron,
and great deal OF business is being done,
and still more will he done in that line.
There is also greater demand for manu-
featured iron than for number OF years.
The mill men have received more than
twice as many orders during the past
month or six weeks as they had during a
corresponding period since 1873.
The national banks (which had faith in
the ability of the government to get rid
Of a four per cent loan reaped their re.
ward. During the past year or SO, when
bank shares have been declining, the First
National Of New York appreciated from
200 to 400 bid, and the Chase from par to
ll5. The Maverick, the first and almost
the only Boston Bank to undertake the
sale OF the bonds, advanced from l4O to
ISL.
The result OF some recent experiment in
New England should not be overlooked by
those, particularly in country places, who
are building cotton and wooden mills or
similar factories. The custom has been to
erect buildings three or more stories high,
but q question has arisen as to whether
this is an advisable course to pursue. The
report Of New England bingham factory
ON last winters Use Of a new one.story
building was that ii covered about an acre,
was built Of brick, with corner towers, at
acost Of $4,000, and saved in gus alone a
sum equal to the interest on the cost OF
the building. The looms were driven at
l9 per cent higher speed than on the sec.
ond floor OF the old mill, the repairs were
fewer and less imperfect work was turned
out.
The New Orleans Picaymc attaches un.
usual importance to the near approach Of
direct railroad communication between
that city aud Houston, Texas. A road
already extends from Houston westward
to san Antonio, and the expectation is
that it will soon be carried to Fl Paso, in
Arizona; and, once there, that it must
move OH until it reaches the shores OF the
Pacific either at Sun Diego or San Fran
cisco. In Arizona it will meet the rail.
road that Inns for somc time time time
been coming down from the Golden Gate.
The Picaymt holds that a new and genu.