Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1882-05-17
FINANCE AND TRADE.
Condition of the Markets at Leaf
ing Points.
Money 8 to 4 Per cent.-Goyenments
Unchanged-Stocks Dull and Lower
Flour Unehanged-wheat Dull
Provisions Steady.
REVIEW OF THE IRON MARKET

PHILADELPHIA, May 16.-Business
was ouiet and dull last week. There
were a large number Of inquiries for pig
iron. but not many transactions. The
better grades are in fair request, and a
few more extensions of old contracts
have been heard of at old rates. best
foundry is worth $3.50, though eXcep-
tional lots are quoted higher. Ordinary
irons are quoted at $3.50; No. z $25'5U
624. Very little has been sold. LII
makers would concede soc good guam
tity of iron could be sold but In spite OF
the general dropping of prices and I'M
certain outlook, those who BUY are
paying pretty good prices. Sellers 10
not think giving away OF prices prop
able or in fact advisable to secure ousl-
ness. Price and cost are running close
together. Bessemer iron is quoted at
500 24.50, with business limited to
few hundred tons.
PITTsBURG, May 16.-Business has
been a little more active during the past
week, but dullness continues to be the
order of the day, and there is not likely
TO be any change for the better until the
labor question has been disposed OF.
Mill owners, in view of the possibility
of a lockout, are buying only as their
actual necessities require; the demand
is therefore restricted to small lots TO
keep UP mixtures, and business Is abont
as dull as it can be without stopping al
together. In the event of the labor
question being adjudicated amicably,
brisk trade is confidently looked for, as
the mills generally have very small
stocks, and with an increased business
a firmer market is not improbable. The
situation at present, however, is very
unsettled and unsatisfactory, and the
probability is that if there is not soon
change for the better, that some OF the
furnaces, as soon as they get through
with untitled contracts, will blow out:
The labor trouble appears to be the most
serious obstacle in tie way at present,
and it is the most d.fficult one manu-
facturers have to contend with.
NEW YORK, May Is. - Foundry
grades of iron continue to rule steady at
unchanged prices, and accepted brands
have not been obtainable at any con-
cessions. Mill iron and gray forge are,
however, easier to buy, sellers showing
more willingness to meet buyers views,
and accept bids that a few weeks ago
would have been declined. With re-
spect to the general position of the
market, the situation is essentially the
same as early in the week. There is
feeling of uncertainty respecting the
future that deters consumers from an
ticipating their requirements, and the
belief prevails that the summer months
will witness lower prices, yet no
weakness has thus far been de-
yeloped, fnrnacemen do not
appear to have any surplus, and the
output of nearly all well-known fur
nances is being absorbed at current quo
tatiOns. The unknown quantity con-
tinues to be the probable volume of con-
sumption during the last half OF the
year, and until this has been more defi-
nitely determined the course of trade is
not likely to experience any material
change. In q few words, the surround
ing influences are of a depressing char
acter, but the market is sustained by the
current volume of business. What de-
mand exists is still for moderate sized
parcels for prompt or near by delivery
at the following range of prices: No. |
| y foundry at s25@25 so; No. y at
S246,24 so at tide, and gray forge at
81 5000 at furnace.
Boston, May l6.--The demand for
iron remains of small proportions, and
trade moves along slowly in pig iron, as
consumers continue their hand-to-
mouth policy of buying, and keep as
closely as possible to their actual needs
The market, however, maintains very
steady tone, and prices on standard
brands are maintained, but the poorer
brands are weaker. The labor question
does not affect prices to any extent as
vet, but it causes an uncertain feeling.