The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1883-01-15
STATE OF TRADE.
IMPROVED FEELING MALL BRANCHES
In Spite OF the Numerous Failures Rrported-Thc
Movement In GrAin-IHcrraAed FIrmurW
and Activity In the " ooI Market.
Condition OF the Iron Trade.


and Activity In the " oOl Market.
Condition OF the Iron Trade.
New YoHE, January l4.-Thc dispatches
TO BrGdstrcdS for the past week from the
principal cities Of the United States reveal
! somewhat improved feeling in general
trade circles, and this is in spite OF the
Iarge number OF small failures reported.
The dry goods trade shows some improve
ment. Wheat has advanced during the
week in prospect Of greater European
necessity for foreign wheat, owing to the
probability that next years crops will be
short throughout Europe. Corn has I'D.
vanced pretty largely, partly, as the result
OF n continued large Consumptive demand
in the eastern markets. The entire move
ment Of grain Rt the West has fallen oil
since the holidays. 1t is believed that the
prospect OF higher prices iOr all foodstuils
makes the farmers unwilling to sell.
Petroleum continues buoyant, although
qniet, in the neighbOrhOOd Of 9Oc in view
OF the fact that there is still one Forest
county well expected, whose probable flow
cannot be determined in advance. All the
new gushcrs to date are proving short
lived. Forest county itself is OF spotted
value only, and the outlook, in the absence
OF new complications, IL for bull market.
Wool.
Seaboard wool markets have developed
increased activity and lirmness during the
past week. There has been no great rush
OF orders, but manufacturers have gener-
ally bought with more freedom, and there
has been much less hasgling about prices.
Fine ilecccs have brought better prices
than were obtainable at the close OF the
year, and the general market has exhibited
more strength. The December stock ill.,
ventories in Boston, Philadelphia and New
York show an aggregate decrease in the
available supply OF domestic and foreign
woods OF 4,G4S,500 poundsas compared with
the close Ol 1851. The falling oil is partic.
ularly noticeable in washed ileeccs, OF
which there has been decrease Of about
], ,SOO, 900 pounds in Boston and upward OF
/, 100000 pounds in philadelphia. The
Suppl1 VI NOlnbCA NOSAE ~ vi 1IlAlll Ia tILl
markets. Mills on this class OF goods are
more actively employed than in any other
branch OF woolen production, and the de-
mand or the new staple is 50 urgent that
some improvement in prices is generally
anticipated. 4 positive scarcity OF these
long staple woods is probable before the
new clip begins TO come forward. Foreign
markets. are Cabled better ior clothing and
combipg lleeces, but dull for carpet wools.
Home mills are genGamllY timing prOduc-
ton TO avoid surplus stocks at the close OF
the season, but the finer qualities OF cloth
ing woOlenS are not in excessive supply,
aud, while there is some accumulation Of
trashy gOods, the general outlook is en-
cOuragiug.
There has been no improvement in the
iron market during the past week. Sales
OF pig iron have been made at less than
currently quoted rates. small lots only
bringing full figures. The tendency in pig
is still downward, Notwithstanding the
generally expressed feeling month ago
that prices had touched bedrock. Furnaces
are still working from hand to mouth; and
tho outlook ut the leading iron centres con-
tinues uniayorable. West, or rather south.
west and south, the feeling is better, and
the opinion is expressed in those regions
that the end OF the month will witness
an improvement in demand and, Conse-
Quently, in prices. OF Scotch pig iron ut
New York, there have been from 500 TO 900
tons sold during the week, mostly to ur-
rive, and on private terms. Some few
small lots were sold ut full figures, which
still continue at the low rate previously re.
ierred to. Finished iron remains quiet
and extremely dull, and prices are quUted
from 2.3I23jC to 2.GC for the various grades.
Demand is low. lnquirers in the market
are mostly there to learn what the outlook
il, and transactions are few. a canvass
among different members OF the pig and
| finished iron trades reveals the iuCt the
prevailing UnCasinCSs is largely due to
the uncertainty which prevails rcspCct-
ing the outcome OF the tariff tinker.
ing now going on in Congress. 1t
is believed thut the uncertainty lt.elt is re-.
spUnsiblC for this state OF affairs. Whether
the rate OF duty on this, that or the other
variety OF iron is to be what the Tariff
Commission proposed or what Congress
itself has suggested, or what various inter
estCd parties have requested, has not 50
much 10 do with the existing paralysis Of
the industry as the fact that the final rate
remains unsettled and that no immediate
settlement is in sight. Steel rails continue
to be quoted at SO. Small lots for early
delivery command $4l. No new orders
for rtlils in any considerable quantity are
reported. Still the belief prevails among
those who arc well informed that the pros.
pect for an advance in steel rails is good
and that such will take place at no far dis.
tant dAte.