National Republican., 1883-01-01
THE WoRLD On TRApE.


Dispatches to BrddStreefS from the trade centers
of the United States show that general trade is
undergoing a comparative suspension under tile
effect of the annual settlement Until the results
OF the years business shall become generally
known, greater or less feeling OF uncertainty
Will prevail. On the whole, the years business is
favorable Tor the final gathering of the cotton
crop. The American wheat markets have been
extremely dull, aud would undoubtedly have de-
clined heavily during the past ten days If II had
not been for the tirmness of the foreign markets,
which Is caused by the very uniavorable outlook
for next summers crop in all parts OF western Eu-
rupo. 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 receipts of hogs at western packing points and
a consequent decline in their price. The iron
market continues quiet and in some lines dull.
Pig is quiet, with no special inquiry. Manufnc-
tured iron Is weaker, owing TO desire on the
part ofwesern makers TO realize. Pig iron is 4 ON
$3.50 to b0c. lower than one year aso, and bars,
cheaper. Steel rails are quoted at $40 per ton,
against S5S@60 In December, 1881. A contract for
1000 tons has been placed at a mte above $40,
which is the most noteworthy feature of the week.
The opportunities for further rise are good, in
asmuch 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 Si5@Si7 In addition
to this, eastern rail mills have taken orders for
nearly 100000 tons of rails, probably aS much as
they want, at $40 rise in the price will b. of
immediate eneft to western rail mills, which
lall 10 compete NJ the low prices recently prevail
ing. The general financial condition of the iron
and steel traces is reported good. The petroleum
market has trenglhened on reports of the failure
of Grandin well No. TO strike oil in eight feet OF
sand The report, however, has not been con-
frmed. The forthcoming monthly report of
opera ions in the regions, and the probability Of
hearing from the four remaining Forest county
wild cat wells, point TO some decided change in
the MARKET which has been dun aud heavy for
nearly week. The loudly ,heralded Reno well
has dropped to 600 barrels daily. aud the subter-
ranean pool of petroleum in Foreit county Is not
being counted on. The coal trade is quiet, but
fairly prosperous for this, the dull season. The
total output of anthracite Is now expected tOreach
29,000,000 tons Ocean freights are easier for pc.
troleum charters, owing TO the ARRIVAL of several
vessels. Grain is going abroad largely by regular
steamer. Business in ocean freightS is dull this
week, requests for charters aud berth room being
seasonably light The movement of wool has been
II hit in all markets. and values have ruled weak
and unsettled There were. 242 failures in tho
United States reported during the past week, @
more than the preceding week. aud 81 more than
the corresponding week last year.