The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1883-01-01
TIE BUSINESS SITUATION.
The Trade Status OF the Country AT the
Close of the Year.


NEW YoRH, December 30.-Dispatches 4
Bradaresf'S from the trade centres Of tht
United States show that general trade II
undergoing a comparative suspension
under the effect Of the annual settlement
Until the results Of the years business
shall become generally known, greater oI
less feeling OF uncertainty will prevail. Or
the whole, the years business is reported
good. The weather south has been favor
able for the final gathering OF the cottor
crop. The American wheat markets have
been extremely dull, and would undoubt
edly have declined heavily during the pas
ten days ii it had not been for the tirmnest
Of the foreign markets, which is caused by
the very unfavorable outlook for next tsum'
mer's crop in all parts OF Western Europe
Corn has declined during the week on ac-
count Of larger receipts at western points
and the closing up Of the speculative deals
at Chicago. Provisions have declined
slightly, as the result OF fair re-
Ceipts OF hogs at western packing
points and consequent decline in their
price. The iron market continues quiet
and in some lines dull. Pig is quiet, with
no special inquiry. Manufactured iron is
weaker, owing TO desire OH the part oi
western makers TO realize. Pig iron is
from $50 to SOC. lower than one year ago,
and bars, plates, and etc., are from !c. to
7.lOc. per pound cheaper. Steel rais are
quoted at $40 per toy, against SlS $50 in
December, 1851. A Contract for 10000
tons has been placed at a rate above $40,
which is the most noteworthy feature Of
the week. The opportunities for a further
rise are good, inasmuch as the price Of
steel rails abroad and the lowest proposed
tariff under consideration by Congress
would not permit the foreign article
to be sold in New York under
Si5a S47. In addition to this east
ern rail mills have taken orders for
nearly 100000 tons Of rails probably as
much as they want, at $40. A rise in the
price will be OF immediate benefit TO west
ern mills, which fail to compete at the low
prices recently prevailing. The general
financial condition OF the iron and steel
trades is reported good. The petroleum
market has strengthened on reports OF the
failure OF Grandin Well No. 2 to strike oil
in eight feet oisand. The report, however,
has not been confirmed. The forthcoming
monthly report Of operations in the re.
gions, and the probability Of hearing from
the four remaining Forest county wildcat
wells, point to some decided change in the
market, which has been dull and heavy
for nearly a week. The loudly heralded
Reno well has dropped TO GOO barrels daily,
and the subterranean pool Of petroleum in
Forest county is not being counted on.
The coal trade is quiet, but fairly prosper
GUS forthis, the dull season. The total out
put OF anthracite is now expected to reach
100000 tons. Ocean freights are easier
for petroleum charters, owing to the arrival
OF several vessels. Grain is going abroad
largely by regular steamer. Business in
ocean ireights is dull this week, requests
for charters and berth room being season.
ably light. The movement OF wool has
been light in all markets, and values have
ruled weak and unsettled. There were 2ig
failures in the United States reported dur.
ing the past week, more than the preced'
ing week, and 81 more than the cores
ponding week last year.