The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1881-06-25
THE WEEK
IN YInANCE AND COMnEECE, ETC,
Reports ~ 10 the Condition OF Trade
from All lhe Principal cities OF
the Country = Failures aud
Suspensions Recorded.


|
NEW YoRK, June 24.-Ths tone in tn
commercial circles continues to be salts
factory and the approach Of the dull sea
son seems hardly indicated by the extsn
OF the transactions and general ACTIVITY
which prevails, The local markets hayl
been somewhat irregular and values auC
tuated considerably, q result, however
more Of speculation thap anything else,
In the dry goods market trade amonG
iobbers, domestic commission houses anC
clotbiers has somewhat abAted. They arr
doing a steady business, but not to th'
extent OF that done early In the season
They all acknowledge satisfactory spTinf
trade, but do not claim to have made
money. Among dry goods commission
houses prices are rather firm, but in
wooden goods trade Is quiet, as might be
expeCted at this date.
In the grain and provisions market the
volumes OF business as q rule have been
large. The fluctuations In prices have
been sufficient 10 attract operators, and
the transactions have been heavy, both in
the general and the speculative business.
The market closed firm.
In wool fair amount OF business Is
doing with prices tending towards i'm
provement. In the seaboard markets wool
can be bought relatively lower than In the
country, The stocks OF fleece woods In
these markets are still light. Cotton has
been steidy ss rule with better feeling
prevailing In regard to the future. Freights
low and demand for space light,
The produce trade 10 very active, the
arrivals Of cheese yesterday being 0S 900
boxes. This Is thought to be the largest
amount ever reached 10 this market In q
single day. Export demand large and
prices firm, Notwithstanding the unpreCe-
dented arrivals.
In butter the situation is not as saLisfaC.
tory. II is thought that the make Ia un.
usually large, but both 10 the city and
through the country great portion OF the
supply is going into cold storage to he
held for an advance. This movement has
for the present raised the price Of nearly
all grades, checking shipments to Europe
and causing the rapid accumulation OF
stock here and In the West. Many con.
servaiive parties here condemn this
movement, which is entirely speculative,
and think that its effect will be hurlful 10
the trade later 10 the season.
In hardware, while transactions are not
heavy, business is reported to be fairly
satisfactory, the purchases being slightly
more free and not entirely confined 10 Tie
mere replenishing Of stocks.
In the iron market American pig is In
moderate demand with prices unaltered
and foreign iron inactive, though we hear
Of occasional transactions from ship at low
figures, and some new speculative lots are
placed on the market to realize at loss.
Competition Of foreign iron with native
Is not unfavorsble to the latter 10 any
extent. only inferior brands being much
affected Thereby. Altogether the trade
seems to be In q slightly more hopeful
condition than last week.
Failures are somewhat more numerous
than last week, footing up fifty to sixty,
ot which seven were In the Eastern States,
twenty.one in the Middle, ten In the
Southern and sixteen In the Western
States. As a rule they have been small
and not significant Q any particular change
In the condition OF business. In the South
this is particularly the case and the con.
dition oil credit there seems improved.
Two prominent cases In New York and
Boston, In the iron trade, are the result Of
the speculative efforts and the remote
effects oi the great boom In metal by which
80 much money was made, only to be lost
by speculation and depression. Generally
speaking the condition Of the business
men seems In the main sound,
Mining-The Associated Press reports ss
follows concerning the New York mining
stocks market la the past seven dAypi
Mining stocks have been very dull and at
most, without exception, weak Ia conse.
quenoe OF the bearing operations Of the
insiders and the questionable action OF
certain Leadville manipulRtorB.
The most prominent feature this week
has been an active speculation in Hiber.
mia, nj which Governor Tabor, president,
is generally reported short to the amount
yesterday teeRrAphed to the directors Of
the company to resCind the July dividend.
The directors declined 10 resCind. The
Comstocks declined In sympathy with
the San Francisco market. State lines
were active, declining In the early part
OF the week on account OF the inadeQuacy
OF water pipe, but subsequently recover.
ing under large purchases. Bullion re-.
ceipts for the week $23337l. Total Gales
OF mining stocks st both exchanges nearly
800, 900 shares.
SITUATION AT CINCINNATI.