The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1883-06-18
THE TRADE SITUATION.
4 aENERAL lMeRovsMENr NoTIp.
III. P..ias Coast E,Jsyl.s . Business BOsa-A
Better Rssllss HsaIfsstsd ia the PIG Iron
Trads-ths Nunbsr Of Furnaces BlOWa
ost-Ss Special Change Ia Nool.

Trads-ths Nunbsr Of FsraAsss Blown
0st-Ss Special Change Ia Noel.
NEW YoRK, June l6.-The general brsi-
, ness situation throughout the United States
fully maintains the improvement noted
last week. Special telegrams from leading
business centers to Bradsreet's point con.
clusively to this, while revealing as well q
number Of reports Of lack Of commercial
strength. The Pacific coast is enjoying an
unwonted degree Of business prosperity,
, and in the northwestern States the move
ment OF general merchandise is quite active /,
Wheat Is lower, owing to larger stocks,
small home and practically no foreign de-
mand, in connection with better weather.
Corn Ia less affected, owing 10 fair de-
mand. Provisions are weak and lower.
This Is caused by heavy arrivals Of hogs at
prices, and the absence OF any noticeable
demand for legitimate uses.
h Ocean freight markets are dull. Petrol-
cum charters were the only feature Of the
week. The quantity Of grGin exported per
A steam in the berth has been small. An.
thracite coal Is moving off at healthtul
rate, but without marked activity. Full
| time from July Is to December will
probably be observed at the mines. This
points 10 an ouput for the year OF &c, 500 600
tons. Manufactures have been puying
only for current wants, but in the absence
OF large stocks the seaboard markets have
generally ruled steady. There were 165
failures In the United States reported dul-
ing the past week, IS more than the pre-
ceding week, 81 more than the correspond.
ing week Of 1882, and 105 more than the
same week Of 1881. -.- Iis-.
IRON.
A better feeling has been manifested in
the pig iron trade during the past week,
though no real Improvement beyond this
can be claimed. Sales Of American pig
iron have besn moderate aud in smalllots.
Various members Of the trade express the
opinion that s2oa1o now look like bottom
| figures, though, Of course It is'not impossi-
Bile that lower basis may be arranged.
Stocks Of 10000 tons Of pig at the fur
naces are too heavy weight to carry in.
the lace of production IN excess OF exist
ing demands. Since January l, Mr..
swank reports that e6 furnaces have blown
out, there having been 4l7in operation on
that date against 351 ong June !
last. With respect 10 kind OF fuel
used, there have blown out in
the past ak months "a anthracite
furnaces, IS bituminous furnaces and "a
charcoal furnaces. OF the 66 blown out,
% were In Pennsylvania (6 OF which were
in the Lehigh and Sin the Schuylkill val
leysl and q In Ohio, these accounting for
over two.thirds Of the whole number.
Others are reported as likely ITO blow out
soon"-27 in all-of which l3 are in Penn.
sylyania and In Ohio. Scotch pig iron
drags itself along heavily. Prices are un-
changed and sales very light. Arrivals
during the week will aggregate about 500
tons, most Of which will go into consump-
ton. Sales are said to have been over 400
tons. The market Is very dull. Bar is dull
and the demand light. There are no new
features In steel rails or scrap.
WOOL.
Bosros, June l8.-The AdpeTtissr, in It's
weekly review Of the wool trade, says: The
market remains much as before, but the
tone is perhaps less strong in the country,
and only the fact that supplies are SO light
upon the spot and will be wanted before
the new woods can largely come forward
sustains prices a. all. The receipts Of wool
this week have, however, been larger than
for several weeks, but not so large as for the
same week last year. There is strong
lteeling among the best informed that the
tendency OF values in wool Is generally
downward, although some descriptions Of
wool that are used in the manufAc ure Of
worsteds will maintain prices. The reason
for this opinion is to be found entirely in
the dry goods market, which Is so unsatis-
factory that mills must either largely stop
or accumulate goods, which latter they are
not likely TO care to do. The stoppage OF
several hundred sets Of machinery
must be most serious blow TO
the wool market, curtailing the
wants Of manufacturers in the matter OF
wool to an extent almost unprecedented.
And yet in the face oil this condition OF
affairs, there are thousands Of holders OF
wool in the interior who are looking for
higher prices, and are daily no doubt re-
iusipg offers that are reasonable, and which
they are most likely in short time to be
sorry to have refused. Some manuiac-
turing corporations we hear OF as buying
wool In the interior, and paying more than
they would have, had they allowed the
wool to reach this market. There
have been years when such course
was advisable in order IA secure assort-
ments and to buy at bedrock" prices,
when the future course OF the market was
distinctly noticed to be upwards, but that
Is not now, when goods are accumulating
and so many mills are about 10 shut down.
The news from the interior can be
summed up that wool Is lower, as q rule
than a week ago. A dispatch from San
Francisco reports that there Is an accumu-
lation there now Of 100000 pounds,
mostly Of Southern woods, prices ranging
for Northern at 22A24c., and Southern Rt
l5alSc. Prices are lower, and dealers here
have received offers Of lots Of wool there
at lower prices than q week ago. Il Is ex-
pected that shCaring would be general In
Michigan this week II the weatheris favor
able. Growers are asking 80 cents there,
which Is considered too high. There IL
nothing new In Ohio, bat farmers are more
/ oanaPalIv aT nacttnO m ohfafn fnr THAR WNnl