The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1883-04-30
THE BUSINESS WORLD.
THE GENERAL CONDITION OF TRADE.
Br.d.ue.r. Resume of the Commercial situation.
no Change Worthy OF NrntIOu-wool Still
ussk-rhs Iron Market COutlauss
Dali nIthOut New Features.

No Change Worthy OF asntIOu--wool Still
Nsak-Ths Iron Market COntIhuts
Dali Without New Features
NEW YoRE, April 2S.-The dispatches tc
BraiIlretts this week from the principal
business centers OF the country do not re,
veal any particular change in the general
trade situation. Dispatches from the prin'
cipal western wheat states note uniform
Improvement in wheat prospects during the
month. This while the belief that winter
wheat has received material injury in some
states is confirmed. Wheat has changed
very little in price in the last week. The
more favorable outlook for The sext crop
has made considerable decline in the
foreign markets, but the American markets
have been sustained by diminished receipts
at the west, and by speculative holdings
which were bought when the crop prospect
was less favorable, and OF which the holders
cannot dispose without causing an impor-
tant decline. Prices Of corn have been
maintained during the week, mainly on
the view that, Notwithstanding the large
accumulation at Chicago, it will all be
wanted. Provisions have shown an upward
tendency, due to speculation and the di.
minishing receipts OF hogs at the west.
IRON.
On Saturday last, as intimated, reduc-
ton was made in the price Of American
pig iron, Nos. and ., foundry. The pre-
vions prices were s24 for No. /, and $50
for No. 2. On the day mentioned reduc-
tion Of 81 on each was made by the Thomas
Iron Company, thus making current rates
S22 FIR No. l, and $50 for No. 2. This
move was necessitated by the cutting Of
current rates by smaller furnaces. Since
Saturday other furnaces have sold foundry
irons at the same prices, aud the less
efficient furnaces, which have been the
disturbing element, have been practically
shut out Of the market. About 5000 tons
OF Nos. l and 2 have been sold here dur
ing the week ut the quotations
named, and about 1000 tons Of
fancy brands at somewhat higher
figures. AS yet, there is no marked change
in the tone Of the pig iron market. There
is considerable inquiry, but no rush Of
business. The belief IL very general that
the result Of the cut will be to shut down
some OF the smaller furnaces. The state.
ment Ia made that just prior to the reduc.
ton in prices made on Saturday last
season contracts for pig iron to considera-
BILE amount were taken by the larger
concerns doing business in New York.
Scotch pig iron prices remain Unchanged.
The arrivals this week were very small, not
over 500 tons, and all have gone into con-
sumption. No sales have been made TO
arrive. Steel rails are slightly tirmer at $50
for future delivery. A considerable quan.
tity has been contracted for during the
week here and in Pennsylvania. Bar iron
is dull at present. There are no ieaturesi in
other lines worthy Of note.
WOOL.
BosroS, April 2S-The Advertiser in It's
weekly review Of the wool market, says:
The market as to tone and general activ-
ity is about as 1t was week ago, and the
weakness that was then apparent has con-
tinued, so that in order to sell dealers are
expected to make concessions The tone
of wool is in fact but reflection Of that OF
woolen goods, and so long as that continues
wool will move slowly. Ohio and Michi.
gan aeeces are now four to six cents less
than they were in the middle Of February,
and yet the country operators are general.
ly talking Of asking the same price as
year ago-ideas which they had based on
the market OF two months ago. 1t would
be well to face the fact that all merchan.
disc has been moving toward q lower range
OF values, and for the farmers In the coun.
try to ask the same prices for their wool
that they secured year ago is most unrea.
thatthe clip ought to be bought at the pri.
ces Of '76 and ", or at l23c. for south.
ern and zoe. for northern woods. Michi.
gan wool should be bought in the
country at 80 cents, so that dealers
could sell it at S6lS7 cents, which
is what the selling price is most likely to
settle down to. There Is as yet no disposi.
tion to rush into the country, but the usual
telegrams have been in some instances re-
ceiyed, reporting an "aCtive demand" with
advancing tendency" This is from Texas
Some dealers think that when the Ohio
and Michigan clips are ready TO be market.
ed manufacturers will enter as competitors
with themselves and boom up prices un-
duly, which will only be followed by
reaction later. That dealers will not pay
prices that are not warranted can be illus.
trated by the California clip. Usually by
this time 10000 bales would have been
shipped East, but this year there have not
been 100 bales.
The business situation must be taken
into serious consideration this year-more
than ever before. The outlook is very du.
bious. Strikesare even threatened in some
most important industries; there Is sur.
plus in too many lines Of manufactured
goods; the tariff Generalization may not
yet be at an end; aud, in short, il is no
time to buya stock Of wool when woolen
goods, too, are in their present condition.
SPECULATIVE INTERESTS.
CHICAGO, April 9S.-The produce mar.
kets were 80 dull to day that for the half
hour preceding the close at o'clock there
was scarcely any sales at all. This stagna.
ton is half explained by the alarm that is
generally felt on account OF the manipula.
tions that are on the tapis, Many traders
in wheat argue that it is Just as risky to
"tail" after Armour as to "buck" against
him, and are disposed to stay out OF the
market for the present. The same argu.
ments are used touching pork and lard,
consequently just now everything is very
dull. 1t is expected the deliveries on May
/ will partly disclose the real position OF
things about the various pits, and that alter
they are made speculation will revive.
Lard is beginning 10 move ont OF here.
Last week it was reported that 80, 600 tierces |
were bought for export, aud to-day it is |
said that ln.n0l iiercea more have been