Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1883-10-01
BUSINESS PROSPECTS.
Failures Frequent, But the Outlook
Favorable.
THE wooLEN TRADE IMPROVING.
The Crashes Attributed Solely to Poor
Management and Reckless Ventures
Growing Crops in Fine
Condition.

Ceeu IalIly dCIlNe lnONemeHb IL "NNASSN-'N
lines OF trade during the past week. The
volume of business in the West and North
west is relatively larger than in the At
lantic cities, but the distributive trade is
increasing at all points, and there is nothing
in the condition or surroundings OF CON-
mercial affairs to discourage hopeful antici-
pations OF the future except the frequency
of failures in various quarters and the con-
seouent disturbance of confidence. The re-
cent heavy failures in the wooden goods
trade in New York have had the effect this
week OF renewing uneasness and appre-
hension of extending trouble in some quar-
ters; and there has been a closer scrutiny
of commercial paper and credits, both by
bankers and merchants. 1t is generally
conceded that the suspension of Mayer q
Co. and the Levy Brothers, like those of
the Boston tanners and number Of others
Who Have Failed Lately,
is due to unmercantile methods and specu-
lstions outside OF their Legitimate business;
but the constant recurrence OF such dlsas-
ters shows q wider prevalence OF the specu.
lative spirit in commercial circles than had
been generally supposed to exist, and nat
urally inclines conservative traders to
greater distrust and watchfulness. Beyond
this the New York suspensions have had
no influence in business circles. Tbe drain
of currency to the West and South contln-
ues, but there is no present stringency in
the Eastern centres and no expectation OF
such a change in the condition OF the mar
ket as will be likely TO embarraSS merCan.
tile borrowers. The business failures OF
the week were $50 against lSS last week.
Operations in wool have continued on
large scale in all markets. and, without
material advance, the drift OF values has
been in the sellers favor. This indicates.
The Improving Condition
OF the wooden goods trade and the preva-
lent belief that the hopefulness OF the out
look has not been impaired by the New
York fai ures. Spot cotton has again ad.
yanCed &C, and tie Consumptiye demand
is lair. The rise in the raw staple and the
Curtailment of production by the drought
in New England have influenced an ad-
vance in some lines OF cotton goods. Re-
cent acCumulations have been closed out in
some cases and much reduced in others,
and the market is now quite active and in
fairly good condition as compared with
few weeks ago. The general jobbing trade
in dry goods, notions, groceries, provisions
and dairy produce has continued active.
There has been less speculation in pro-
visions, and values have slightly declined,
owing to the continued large receipts OF
hogs at Western centres and the lack OF
speculate support.
The Export Movement,
however, continues in excess of that of last
year. In the iron trade a moderate con-
sumptive demand IS absorbing large per-
centage of the production of mills and fur
naces, but there is general feeling of un-
certainty as to the future of values that
checks active trading. Stocks of anthracite
coal at tidewster have increased a little
since last week, but there is said to be no
falling of in demand. A steady inquiry is
reported from the East, and the line and
city trade is good. Prices rule firm, with
an improving tendency. The bituminous
trade continues extremely dull.
The grain markets have been very irregu-
lar. Between Friday and Monday evening
there was further advance of IL to 2
cents in the prize Of wheat in all markets,
but since Monday all OF the improvements
have been lost, and in the seabOard mar.
kets the downward tendency has carried
values TO to cents below the rates cur
rent at
The Close Of Last Week.
Expectations OF an improving export de-
mand have been disappointed, and the re-
newed weakness Of the market is entirely
due to this continued apathy OF foreign
buyers in the face OF the steady aCCumula-
ton OF stocks on both sides of the ocean.
The clesrances from Atlantic ports for the
week have been less than |, 200 900 bushels,
and the visible supply shows an increase OF
100, 900 bushels. The total is now - SS3,-
COO bushels larger than a year ago, and
$50 ,0O0 bushels larger than at this time in
1881. Seaboard stocks are l,O56,OOO bushels
more than last week, and 5,S76,O0O bushels
more than year ago. The immediate out
look for export business is not encouraging,
owing to the continued large supply in
store in English markets and the inferior
quality of large part OF the current re-
ceipts in American grain centres.
Corn has been very dull, and since the
failure of the
Recent FrOSs Predictions
of the Signal Service the drift Of values has
been downward, the net result of the
weeks business being a decline OF TO IA
cents in all markets. The weather has
continued favorable for the growing crop,
which is now generally regarded as beyond
the reach of further injury from frost The
clearances Of corn from the Atlantic ports
aggregate but little more than 700 BUSH
els for the week, but will be likely to in
crease during tue utNL lOIJulgul, rs lE6lSul
room has already been engaged in New
York for more than half million bushels
for Liverpool. This is said to have been
done by q combination of operators for the
purpose OF ridding the market OF a large
amount Of actual corn, preparatory to the
manipulation OF corner" in October con-
tracts. Seaboard stocks of corn are about
the same as last week, but the supply il
sight
shows AN Increase
Of J, ,3SS 900 bushels, as a result OF the large
receipts at western centres last week. The
movement from farmers hands has fallen
OIL somewhat during the past few days
The Pig Iron Trade.
The Bradstreet's weekly report has the
following resume Of the lion trade: The
most interesting feature is in reference TO
the prices OF Southern pig iron, which are
reported lower from Cincinnati and Bir-
mipgham, Ala, aud Richmond, Va. The
Tennessee furnaces, however, regard the
situation differently. The reports are con-
tradictory, some claiming that the furnaces
in the South are filed with orders and
prices are firm, while others report drop
Of fifty cents per ton. This is of primary
interest to the South, and such points in
the West as are customers for Southern
irors. The Eastern iron industry remains
about as for month past, No. foundry
being quoted at 81.