The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1883-01-08
THE STATE OF TRADE.
A FAIR ACTIVITY IN THE COUNTRY.
Though suffering to Som, E1..st-l Better ost.
look for Wool, bat no IuPrprsnsat-lnIetIIlty
Ia IrOa-DsprsssIOn la Cotton sad WOOlsn
Trads-st. Louis Iros Workers Strike.

New YORK, January 7-Dispatches to
Brad,srats for the week show that the
general trade throughout the country is in
fairly active state, although still suffer-
ing from the suspension incident to the
close Of the year. The dry goods trade
shows marked inactivity. The cotton
markets have been depressed in the face OF
Increased receipts at the American ports.
Wheat has advanced 4 little during the
week on account OF the continued unfayor-
able prospects for crop in Europe next
summer, but the stocks OF wheat in store
are still increasing. and the movement OF
-four is larger than usual, which has a tend
enCy to prevent an advance In wheat.
Corn has advanced slightly under speculat-
i've influences and very small stocks in all
the eastern and seaboard markets, but the
movement at the west is increasing. Pro-
visions are gradually declining.
The demand for accommodations for
petroleum constitutes the feature Of the
week. TIE years exports OF petroleum
lcrude equivalent is over 5000, ,0O0 gallons
less than In 1881. Certificates Of crude have
not varied much during The week. The
tendency has been upward, but the Schultz
well, which has been expected to come in
from day to day, has exercised depress.
ing influence. There has been more in
1uiry for wool, and the general feeling
among holders is steadier and more hope.
iul. There were 257 failures in the United
States reported during the past week, 10
more than the preceding week and los
more than the corresponding week last year,
This is the largest number in any single
week in two years.
WOOL.
The wool markets open the year In bet
ter shape, with encouraging indications Of
returning activity and firmness. Prices
have touched lower point than for some
months past, and the feeling is gaining
ground that bottom has been reached-at
least on really desirable wooIs.. Very few
manufacturers are carrying stock in excess
Of immediate wants, and little, il any, de-
crease in production is anticipated. The
unsettled tariff question is used as bear
argument against the. stability OF values,
but has little active influence on the mar
ket. Within few days past manufacturers
have been buying more freely, and in ex-
Ceptional cases low prices have tempted
speculative purchases by dealers. As a
general thing, there is less pressure to
realize, and at the close prices on fine woods
show q partial recovery from the lowest
point touched prior to the close Of the
year. Some large transactions have taken
place in this class OF stock, and buyers are
still looking about for cheap lots, but find
holders less inclined to accept business at
the lowest rates paid last month.
IRON.
The market for iron has recorded no i'm.
provement during the past week. In pig,
prices have been shaded fraction lower
than yet reported. A few sales have been
made, hut mostly Of inferior grades. About
1000 tons OF Scotch pig have been sold,
about one.third out OF stocks and two
thirds to arrive. Late arrivals have mostly
gone into store. Prices Of Scotch have
also gone OF little. This Is largely in
accord with the market abroad, where con.
sumption has declined considerably,
although stocks in Connal'g stores
and in makers hands have decreased
about 10000 tons on the year. Cheap
ireights, 5a6s from Glasgow to New York,
have also had an influence. Low freights
have been induced owing to absence oil
heavy freights 10 this side from abroad
and in part by the sla0k demand here.
Such rates, amounting to 81 25al so per
ton for carrying pig iron from Glasgow to
New York, equal to about the drayage from
the docks TO the Forty.second Street Depot,
in New York, could be only quoted under
the existing dullHess OF trade. Manuiac.
tured iron is weak and dull. Consumers
OF manufactured iron are doing bet
ter than producers, hut are not
making special profits. Refined bar
is quoted at Philadelphia 2t 2S5c. Tank,
ship, plate and anglesRre weak and out Of
request, being held at &c. Quotations
for large lots are not made at the Iron and
Metal Exchange Company Limitedl, ow-
ing to absence OF sales in quantity. Besse-
mer pig is dull at S22a2a. Steel rails are
quoted nominally at $40, cash at the mill,
0neor. two small orders have been placed
Of late, but 1t is currently reported (al-
though difficult OF contirmation) that
nearly 100000 tons have been contracted
since the SO quotation was made. This Is
about one.third the annual capacity OF the
mills Of the United States, probably near
ly oil that is wanted at the rate named
DepressIon In Cot ton aud wooIen Trade,
PulLApELPHIA, January 6,-Itis estimat-
ed that at least TO- 900 LOOMS and probably
100000 spiplles are now idle in the cotton
and woolen mills Of this city and vicinity in
consequence OF the continued depression
in trade, At the usual rate Of running these
machines II means total loss OF work for
from 5000 10 0,000 operatives, while proba.
bly, ten times as many are working at re-
duced wages Of shortened time. The de-
preston is felt most severely in the bust
ness Of producing the cheaper grades oi cot.
ton and WOODEN goods, and It is so general
that, as one OF the largest mill owners In
the city said to-day, Everybody who can
afford 10 close his mills Ia doing 80" This
gentleman gald In decided tone, eve
have stopped pT mills because It would
not pay to keep them running. ] do not
know how long they will remain idle, but 1t
will be until the price Of labor decreases or
that OF our products advances" Among
the principal mills that have closed are
Porter & Dickey's, with 326 loomg Irwin
& Stinson'G, 9ii LOOMS John Scanlan &
sons', l2l LOOMS William Beatty's, 69
looms; Campbell { Elliotts, 600 LOOMS c,