The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1883-03-26
THE. BUSINESS WORLD.
rAE GENERAL CONDITION oF TRADE.
Reports From the Commercial csatsrs OF The
COuntry-substaatIai Improvement Noted.
Stocks OF Wool Ixhausted-Ths Iron
Market VERY QuItt and Weak.

NEW 1oRk, Muren sf.-Ine dispatches
! to Bradsireet's this week from the leading
J. trade centers OF the country tell OF further
i improvement in the general trade situation,
r and in particular throughout the west.
! During the week the price Of cotton was
!, marked down &c., to l0sc., in consequence
8 OF the growing estimates as to the size Of
: the income crop. During the week the
, British breadstutis markets have declined
under an accumulation OF supplies The
!; continued lack OF rain in California has
: depressing elect
Ocean freights for charters are dull.
) Less petroleum and grain is going abroad
than there was during the earlier part OF
} the week. Berth freights are also dull and
ieatureless. There has been steady,
| moderate trade in wool, without important
change in the condition OF the market.
There were 106 failures in the United
States reported during the past week, 81
less than the preceding week, Is more than
the corresponding week last year, and GS
more than the same week in 1881.
IRON.
There has, as yet, been no improvement
in the iron market. American pig is ex.
cessively dull at unchanged quotations.
lnexplicable as 1t may appear, buyers do
not come forward nor make offers even
at the low prices prevalent-s22 for
No. ., S24 for No. l. Well informed
members Of the trade express doubts
whether a reduction Of 10 per cent even
would result in any business o: moment,
80 dead does the situation appear to be.
The contrast between the New York and
the Philadelphia markets for pig is note
worthy, inasmuch rs at the latter city late
reports are to the effect that there Elsa fair
amount" OF business at unchanged prices.
Pittsburgh also reports ''fair amount OF
business" in pig iron. kilograms to the
New York Iron apd Metal Exchange
(Limited) state that at meet
ing Of the Western Pig Iron Associa-
ton, held n. Pittsburgh during the
the week, the stocks oi pig iron at furnaces
west OF the Allegheny Mountains, inclu-
ding charcoal, amount TO but 10000 tons,
which was less than supposed, and in con.
sequence the Pittsburgh iron market is
reported somewhat 6rmer. Receipts OF
Scotch pig iron at New York during the
week have aggregated about $500 tons
Of various brands, while the sales have
been pntabout :, 900 tons. Prices OF the same
| are unchanged aud the tone unimproved,
Business in Bessemer pig iron has contiI-
ued quiet, holders asking so. Offers are
about 81 less, and it is reported that plump
bids at the lower figure would probably be
met. Spiegel is quoted nominally at $50, as
before noted. Steel rails are quiet. There
have been quite number OF in
quiries during the week, and 1t is believed
that some OF them will result in sales A
few orders are reported at about
$50, some OF them at Philadelphia. Muck
bars have been In more request at $50.
WOOL.
BosroS, March 24.-The Ad~riiser in lie
weekly review Of the wool market says:
The tone Of the wool market is on the
whole less strong than week ago, although
for some descriptions which are in short
supply and wanted by manufacturers prices
are firm, notably No. l combing and
medium and fine woods. Any spirited
demand from manufacturers for these
woods would cause an advance, but there
are no signs Of such. In the place OF
this, prices Of No, Ohio are not
what they were three or four weeks
ago, when dealers asked as high rs 47a4Sc.,
aud it is doubtful il any could now be sold
above Hoe. Michigan Y that was then
held at 43c. could now be bought at 42a42lc.
The scarcity. OF No. conibing Is most
marked, and choice lot would command
easily 52c. Manufacturers evidently are
not impressed that wool is going any
higher, and the tight money also
tends 10 check their purchases. It
should also be remembered that
the market since January has been partic.
ularly active, the increase in the sales thus
far amounting TO 7,2S0, ,0l3 pounds over the
same time last year. There can be no
doubt that these large transactions mean
that manufacturers are very well supplied
with wool, and they can accordingly keep
out OF the market. The active spura
in January aud February also attracted
supplies that were In the country, and this
is shown in the total receipts oil domestic
wool, which shows an increase OF l6,S0S
bales as compared with the same time last
year. There is now very lille wool In the
country, and even In New York State,
where there Is always some wool, there is
little or none now. Dealers claim that there
never has been time when wool has
been 80 thoroughly cleaned up in the
country. Manufacturers are generally
waiting Tor goods to move, and this isa
slow process with the weather and other
incidentals uniavonble. The market can
be considered generally in buyers favor,
and yet stocks with dealers are less than
common. Some Philadelphia buyers have
been in the market this week purchasing
staple woods.
SPECULATIVE INTERESTS.
CHICAGO, March 24.-Corn still keeps on
declining, and this fact is influencing the