The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1883-07-09
STATE OF TRADE.
GENERAL CONDITION OF BUSINESS!

GENERAL CONDITION OF BUSINESS.
4 Fall Movement Of Cereals and Asrehiadlss- The
Outlook Of the Autumn Trade EAeourlEisE.
No Improrn.ntis Nool-Ths stsadIasss <
OF the Iron AArkst naiatalnsd. =
Ngw YoRK, July THE various .ele-
ments Of strength in the general business
situation last week are shown by special
kilograms to Bradstreets yesterday to have
continued in full force. The customary
midsummer dullness is reported from
many points, but the reports tell likewise
Of a full movement cereals,general merchant
disc and coal, increased strength in the
position OF the iron market, and the dissi::
patton OF corners In breadstuffs and pro-
visions, together with continued improve
ment in crop prospects. The wheat mar
ket declined during the earlier days Of the
week, prior TO lat several cities) the two
days interval over the Fourth. It SUBJ
sequently advanced, principally TO theI
west, owing, ii is alleged, to manipulations
OF holders to enable them to dispose of
stocks in hands. Indian corn has acted
in sympathy with wheat, but has not ex-
hibited the elasticity Of the latter. The
export demand for corn has been moder.
ately fair, while that for wheat has been
very small. Foreign buyers, in the face OF
heavy supplies abroad, still consider prices
al ta az L. taa htf,h pra,Hty II
ions declined during the early half Of the
week, but advanced again after the mid.
week holiday in response to the efforts OF
the DULL clique at the west The volume Of
trade for the week has, Of course,
been restricted on account oi the occur.
renee Of the National holiday. Country
traders, however, very generally declare
that with iair crops the outlook for; the
autumn's trade is excellent. Except in the
north Minnesota and Dakota regions; the
weather during the past week has very
generally favored the growing grain crops.
In the district specified there Is still some
doubt as to the out-turn. Bradstrtets pre-
liminary report Of the wheat crop Of the |
United States for 1883 foreshadows a total
crop Of about ~, 100000 bushels, based on
the mail replies TO June 10th and supplei
mentary telegrams received yesterday from
important grain.growing centers. There
were l3b failures in the United States re-
ported during the past week, 20 less than
the preceding week, 81 mere than the COR |
responding week OF 1882, and 9l more
than the same week o. 1881. -"
IRON. i
The pronounced frmness reported in
iron last Saturday has not only been stead
lily maintained during the week, but has
shown itself at other iron centers than those
mentioned one week ago. Southern irons
are now appreciating the gain made. The
prices Of No 1 and No. 2 American, which
had been "frming up" strongly for some
DAYS, were definitely announced as having
readvanced to S22 and so, respectively
and rest there now, with all the advantages
in favor Of the holder. Inquiries for pig
iron have been more numerous during the
week, but sales have not been as large as
might have been expected, owing to the
unwillingness OF makers and their agents
to contract for future delivery at the exist
ing schedule Of prices. This is very
healthful sign, and quite confirms the as
sertiop that the ebbing trade in the iron
trade has finally turned. A side-light may
be turned onto the sudden change Of front
from bad to better by knowledge |
OF the fact that a great many OF
the smaller furnaces were frightened
by the summary proceedings on the part
OF the Thomas Iron Company, in cutting
under the market, and thus driving weak
or inefficient competitors out oil the lied. 1t
was also believed that good deal Of pig
was sold at the very low prices touched.
Such Is not the case. Only regular custo.
mers obtained advantage Of the so and
$40 rates for, Nos. l and 2. and the quaint.
ty so sold was not, relatively speaking,
large. But the result was that number OF |
small concerns have been frightened out OF
competing-haye closed forrepairs or other
reasons, and the market was go cleared Qf |
excessive disturbing elements, of excessive
production and competition, that the early |
advance in rates was not only justified but
made. Ten thousand tons OF steel rails |
were recently contracted for here at S3S,
which Is about the price quoted here for |
several months. The condition OF hesteel /
rail industry must be classed as healthful.
In fact the iron trade in general is in better
shape to-day than 1t has been before during |
the year.
WOOL
New YORK, July f.-The Commercial
Bulletin SAYS; The broken business weak
has had some influence upon the move
ment Of wool, but as many Of the trade
suggested, 1t would be difficult 10 make
matters much worse than 1t has been for
time past, and il there Is any change at all
tbs for the oetter. Buyers can be found
inquiring around as to tho probable cost
Of wool, the probable time Of delivery, and
other little points suggesting the chance
that the interest OF consumers is awaken
ing somewhat, and while the indications
may be only superficial and temporary,
they lead to more hopeful remarks among
holders. Indeed to those Of any experience
and memory at all, the present is not the
worst market they ever have been called
upon TO chronicle by a great deal, either as
to salea or tone, and In view oil some OF the
"bear" reportsit looks az though there was
a determined effort TO present matters In the
bluest light possible by those who take any
good fellows" as their authority. Maau-
facturers are evidently short Of stock, the
cost Of wool Is unqaestionably low, and
with the turn into the last hall Of the year
there is a hope that demand must soon re-
vive into better proportions. Some trad
Ing has taken place In Ohio and Michigan
st rates tending to show that concessions
On the part OF both buyers and sellers have
brought an operating basis. In foreign
wools trade at the moment Is slow, but
great many deliveries are being made on
slles closed before the new tariff went in
10 effect, The transactions embrace 5000
lbs Y Ohio at 30c; s,CCO do Southern at 95a
27c; 5,OCo do fall Texas at l9lc; 10000 do
spring do at 2O!c; 8,000 lbs do do at 22a
28n 10 hara sconrad do nj b5e: 1000 lhs do