The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1883-08-13
STATE OF TRADE.
MIDSUMMER LErAARaY PREVAILS
Ia Nearly An Branches of Buslnsr.-En.et Of the
Recent YallursE-Iron Firm bat Nothing
Mach DOlns-Ths Tone Of the Wool
Market Strong Companion Of Prices.

New YoRk, August 1.-THE general
trade situation Of the country cannot be
regarded as in any degree better than at
the close OF business on Friday Of last
week. But on the other hand there is no
reason to consider it any worse. Special
telegrams from leading cities to Bradstreet's
show that general business is still under
the influence Of midsummer dullness. AT
the cities most involved the effect upon the
commercial community Is in an extra
amount Of caution in granting credits and,
on the part Of banks, in extending their
discounts Leading merchants express their
belief that not only the boot and shoe and
leather business but other lines Of trade are
the better enabled to do a healthiul busi-
sess by reason Of the enforced liquidation
noted. Western centers report that the
demand for money from the country is
beginning olbe felt, and that rates for the
use of the same are showing considerable
animation. This is regarded as the first
sign Of the awakening OF fall trade. It
must soon be reflected by more anima.
ton in the money market at New
York. This will depend OF course,
largely upon the disposition OF farmers
TO let their new wheat come forward. Thus
lar they have been 10th to do so, and that
which has come into western centeB has
been readily taken up by local millers.
The recent spurt In prices OF wheat, II
maintained, promises liberal receipts OF
wheat. This cereal advanced about Ic.
per bushel on the week, and corn about
2!c. This was due to higher market
abroad, where there has been uniayorable
weather and renewed buying by importers.
Provisions have been stimulated little in
sympathy, but there Is little appreciable
demand tor the latter, and the fluctuations
in the same are mainly The result Of man
ipulation. There were 168 failures in the
United States reported to Bradstreet's dur
ing the past week, 10 more than last week,
!! 73 more than in the corresponding week in
1882, and " more than in the like week
in 1881.
IRON.
American pig continues firm at the same
prices which have been quoted in these
columns for several weeks past. Buyers
still continue their hand-to.mouth policy,
and while this nospecial activity. Prom.
inent members OF the trade in New York
looks for less buoyancy In prices during
the remainder OF the year than they did
one month ago. The recent failures at
Boston and elsewhere have had no ap.
preciable effect upon tie iron trade. The
latter have been selling in small lots only
and still continue ito 10 so. The Scotch
pig iron trade here has suffered no material
change since last week. The arrivals have
increased to 2700 tons, which Is nearly
three times what they have averaged per
week for two months past, but 1t is due to
the arrival Of anew steamer which brought
out l,4O0 tons as ballast. Most oil that
which arrived went into consumption at
once, having been sold previous to arrival.
The sales Of Scotch during the week, for
future delivery, were nominal. Manufac.
ltured iron continues weak and the price
unchanged. The steel rail mills are doing
well and are comfortably supplied with
work. Prices continue at $3.50 and S3s,
according to the size Of orders. There are
no futures to specify in other lines The
improved tone felt in southern and west
ern iron centers noticed last week still con.
tinues. On the whole, iron is quiet and
firm, and buyers being conservative 10 al
most an excess at caution.
WOOL. U
BosroS. August ll.-Tbe Adrertiser in It's
weekly review OF the wool market says ::
The week has been marked by the failure
ola wool firm, the house Of Wright, Woos-
ter 4 Co. having suspended on Tuesday.
This is the first failure OF any wool firm in
this city for long time, and this cannot be
charged to wool but to pork and lard and
speculation. Had the tlrm operated only
/ in wool they would not have suspended.
They have been dealers, as strictly such as
any firm in the busiAess, and have dealt in
California, Georgia, Montana, Missouri
and Monteyideo wools. They have alss
bought for manufacturers account. Their
liabilities amount to about S400, 900, which
| is large secured by welLindorsed paper, and
| Is due to banks. No other wool house Is
at all involved, and their Indebtedness to
! all the houses combined Is very insignih-
cant. Wright, Wooster 4 Co. were joint
owners with John Knox in a securing es.
tablishment in San Francisco, which has
been accustomed to- furnish the Eastern
market with considerable secured wool.
About year ago they met with some losses
in secured wool, and 1t Is believed
that Mr.. Knox has little capital Of his own.
MIR. l.. ]. 0rcutt, who bought wool for
them in California and the Territories, also
bought hides for Shaw Brothers, who re.
Gently failed In leather, but the firms other
wise had no connection and had no direct
business relations. i will be noticed that
in spite OF this failure In the trade, and Of
Others in other lines, the market hau been
very active, the sales exceeding. those OF
last week by nearly 100000 pounds. With
the disturbance in financial circles taken
into consideration, the tone OF the market
Is strong, and illustrates fully the financial
strength OF the firms engaged in the bust.
ness. There has been 10 some quarters
more readiness to cell, hut in others the
reverse can be reported, holders declining
offers Of the prices prevailing, for some
large lots. CommiasiJn houses also report
that many OF their consignors OF wool have
instructed them not to sell at the ruling
That wool is on a low basis OF value, as
compared with year ago and even with
January lst Of this year, there Is no doubt,
aud can be seen by the table given below:
PRICES op WASHED Fi.EEcp NOW, JANUARY /, AND 4
YEAR AGO,
,0la.. J,nqa.y.i. A year
Ohio ;...:....... ssST SE ssSi! HIN
No Csmbng 4igH HWH
FinO delaIpe ohlO...S9@O - 4.@h fi@G
This shows that the decline in Ohio y,
as compared with year ago, has been four
cents; In Michigan y four and hall to
SIX cents; in No. combing, two to four
10 s b ono bs Sbsdns begspr I'VE 81 GSn bs AS
the price now ruling ioF Ohio y Is three to