The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1883-12-10
STATE OF TRADE.
THE WEEKLY BUSINESS REVIEW.
Tho Financial aud C,mu.rclh sItuA.iOa Of the
Coustry-SmAll Prths-Nhsti Is doing In the
Wool TrHds-so Particular Changes
TO Note Ia ths Icon Earkst.

CHT0Htut III lLb weekly uuSuts5 feVIe
says: The most prominent fact in th
general flnancial and commercial situatio
now-and for that matter for The last yea
and d halls tha! profits are exceeding
small in every line Of business. This is no
only true as regards every kind Of dealin
In and manufacture Of marketable CON
moditiss for consumption, but 1t is tru
also In regard to the employment Of ban
capital in loans and o.her ioras oitempo
rary Investments. There 10 but one excer
ton to the general rule, in the net earn
ines OF the railroads, which are larger, pro
portionately, than the net profits Of olhe
kinds Of business,
This general rule Of small proftE-ant
In many lines OF trade, no profits at all
Is The result o! the general decline II
prices OF all commodities In the last two
years, and the latter, in turn, is the result
Of what Is called "oyer-production" or in
other words, an excessive stimulation o!
commercial and industrial enterprise In
the several years previous to 1882. The
fact that business now, being comparative.
ly stagnant, requirts lees financial aid from
banks, makes the appearance Of greater
supply Of capital az shown In the plethoric
condition ti the loan markets aud the low
rates for money, when in fact II Is the de-
crease in enterprises and tie cessation In
the further expansion OF the scope OF COM
mercial transactions that leaves larger
proportion Of capital unemployed.
Merchants and manufacturers are not
making money, and therefore have less
surplus to invest in interest, paying sscuri.
ies and Investments hence all such in
restiaents In the form Of bonds and stocks
are in lees demand. The railway earnings
have been kept up by the expansion OF the
general railroad system, the growth Of pop
uiation and its distribution over wider
area, but the profits TO all Individual pre-
ducers and middlsmsn have been dimin.
ished. ...=....
|, In the aenefai situation there has been
no significant Developments in the last
week, or, indeed for The Last several weeks.
There has been no important failures and
scarcely any changes 10 motto In the com.
mercial situation. This fact seemed tc
show that at lesst the depression Of values
may have REACHED ita lowest extreme
That the depression has proceeded go faI
without panic and without great bapk
failures Is a strong poiut In favor OF the
present era as compared with former
periods Of initiation and expansion.
Adyicts from tho West sli!i show On
accumulation oi grain and provisions al
the principal primary markets, especially
al Chlcagn, where money continues tight
and New furk exchange rules at 50 cents
PER 81 coo discount, though at Leatly all
other Western points the domestic ex
changes have this week been rather more
favorable to New York.
Wool,
BcsrSN, December a!:-The Adwrlixr in
its weekly review Of the wool trade says;
The business Of the market has been irreg.
ularly distributed, so that while many deal
ers report very little doing, others show
very large Gales. The feature Of the week
has been the extensive transactions in fine
aeeces, and it is noticeable that XX and
above Ohio has been sold this week as high
as 42c. Some Pennsylvania manufac!ur.
ers and New Yolk brokers have been in
the market after these wools, which car
only be secured here IN large quantity, and
which the mills on fine goods need. These
fine wools are really selling for less than
they can be replaced for, but and blood
Is not nav wanted for jersey yam, the
activity OF previous months having com.
pletely subsided. Territory woods are
easier, but sales have been larger.
Pulled woods sr3 steady, but sales
have been larger than for some wseks. II
Is now believed Il a. the supply Of desira'
BILE SELECTIONS. OF tiae woods IL very light,
and tho interior has less wool now than fol
many seasons, as the large receipts indi'
cate. Woolg are generally in stroug hands,
and while manufacturers are extremely
10th to pay the prevailing prices, claiming
that the prices, ,of goods
will not permit them 10 do 80, deal.
ers are only selling manufacturers in good
credit, and the determination to closely
examine into the condition OF mauuiac.
turers Is marked. There Is not the slighes;
disposition on the part Of the general run
Of manufacturers to sock up In wool, and
they are row about to start up again on
heavy woolens.
IRnN.
PITTsnvRoH, December S.-The condition
Of the pig iron market Is in all respects
Just about the same as it was last week
Prices have neither advanced nor receded
nor has demand noticesbly increased Oh
diminished. The chief feature Of The
week, perhaps, was the purchase, by three
or iour different partiee, II Is understood
Of 1000 tons Of iron made by the Man
chester Furnace, this city, at Sl7 cash, The
iron is an excellent quality ot neutral mill
and the purchasers no doubt thought II q
good investment at the price. II was moi
bought for speculation, we understand, but
for consumption by the purchasers. Lucy
Furnace No. l, this city, was blown out on
the 1s. inst. for refining and repairs. This
leaves thirteen furnaces in blast Of the six.
teen In this county. No. 2 will be ready
for blast about the lst Of January, at which
time we presume 1t will be relighted. The
Edgar Thomson furnaces, which ordinarily
put their Sunday product On the market,
we are informed are now putting on the
market more than this quantity.
The demand for manufactured iron ia
very light, ss compared with what II should
be. Il estimated that averaging what all
the works are doing they are turning ou,
about half the quantity Of iron that they
could make were they all running double
turn. Manufactures still qnote as follows;
Bars, ! S5il 90,; 10. "a sheet, 3 30sS so!
plate, 2 250s2 60s-all W days, or per cenI
or for cqs'l,