The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1883-02-19

The iron market maintains the same
dull, monotonous tone reported last week,
and for similar reasons. There have been
few sales Of ordinary brands OF pig. Since
January lst there have been probably 20,-
900 tons Of gray forge iron contracted for
season delivery, small quantity. As
before stated, season contracts will in all
probability be delayed until after March
4tb, at least. Scotch pig iron is tirmer this
week than for number OF weeks past, due
TO advanced ocean freights from Glasgow
hither, and to better inquiry. There is
no improvement in prices. The sales have
aggregated about 1000 tons OF various
brands at current rates, largely OF Coltness
and Summerlee. Merchant bar iron is
quiet at previously quoted rates. Concess-
ions can be obtained on cash sales OF any
quantity. Steel rails are quiet at $40, with
a few small orders placed. No special
alarm has been experienced owing TO the
recent suspension Of four or five pig iron
furnaces and dealers, us the particular
causes governing those enbarassments are
well known and do not spring from the
temporary depression affecting this indus
try. The total production ol pig iron in
the United States in 1889, as reported to
the Philadelphia Iron and steel Associa-
ton, was 5,l7S,l22 net tons, or 4,6?S, 1923
gross tons, sgainst 4 GAL ,5G4 net, or 4,l44,-
254 gross tons. In 1881, an increase OF $685.
55S net, or 479,060 gross tons in the past
year, or about II per cent. ,.-
WOOL.
BosroN, February 1.-THE AdwrtiSer in
its report Of the wool market says: The
boom in wool noted week ago, has set.
tied itself somewhat but the tone OF the
market continues firm, and from a careful
canvass Of the trade, it would appear that
prices are about 1c stronger than week
ago, especially on desirable lines. The
trade, taken as whole, continues active,
the total business done being over 4 ,000, 900
pounds, which is about 100000 pounds
less than the sales OF week ago, and this
feature alone would show that there is no
weakness perceptible. There are some
dealers who take more bearish view OF
the situation, and they say that the sudden
advance in pricesis morethe ework ola strong
speculative movement than any legitimate
strengthening OF values, and they look for a
reaction soon, although the most bearish
declaimer would not acknowledge that the
outlook could be made worse, taking every.
thing into consideration, than the trade
has ruled for tine three months preceding
the recent advance. Others say that the
upward movement has only Just begun,
and they bring to aid their views the fact
that choice fine fleeces are in best demand
now, not only by speculators, but by man
uiacturers who are using these grades large.
ly, and they draw attention to the fact that
there is a very light stock Of fine foreign
woods in the market.
We should quote the selling price OF the
market Of leading descriptions as follows
Ohio and Pennsylvania No. l fleece, Ala
4Sc; Y and XX, 42!a45c; Michigan Y and
above, 4la43c; territory fine, 23a25c; choice
medium do 2SA30c; Texas fine, 25a2Sc;
Texas spring, 2SaS2c; medium unwashed
fleece, 26a32c; understandable fine, 20aS2c;
No. combipg, 4sa52c; unwashed combing,
2Sa3Sc; fine Ohio delaine, 45a47c; fine
Michigan do, 44a45c, and California spring,
25s33c. southern defective, l4alSc; do fall,
IQal2c