Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1883-08-06
WEEKLY TRADE REVIEW
improvements in the General Con,
diiiOn of Commerce.
Disastrous Competition Among Leather
Dealers With a Favorable Reaction
Anticipated-lron and Dry
Goods Unsettled.

New YORK, August 5.-The general COM
mercial situation throughout the United
States, as reported to Bradstreets' by tele-
graph this week, maintains all of the favor
able features previously noted, in addition
to which several elements of further i'm
provement are noticeable. Mercantile cir.
cles in the east have been considerably eX-
ercised during the past week by failures
which have occurred in the tanning, hides,
leather and boot and shoe manufacturing
and jobbing trades.
The disturbance eliminated at Boston
with the suspension OF one of the Oldest
United States. Theirn failure preCi pitated
like disaster upon very prominent boot
and shoe manufacturing and wholesale
house in the same city, and the circllng
eddy of commercial disaster in widening
out swept down over half dozen boot and
shoe and hide and leather concerns. Most
of them are located in Boston and its i'm
mediate vicinity, hut New York, Balti-
more, Chicago and Norfolk have represent
atiyeS involved.
CaGSe of the Failures.
The primary cause OF the failures was an
uverreaChIug desire TO mOnOpollZe a par
ticuar branch of the industry coupled
with an ill-atYised expansion OF opera.
tions. both in leather and other lines,
which, especially in a time of depression
and liquidation, is likely to precipitate q
crisis like that which has taken place. 1t
vii be observed that the firms that have
Suffered most are almost mutually inter
es',d by partnerships, special or general,
mutual endorsements or otherwise, one
with the other. 1t is believed that the
crash will end there, and that the too keen
OnpetitiOn and the excessive production
from which the leather market has suffered
will be done away with in part. The dis
asters will bring the opportunity for a
healthful revival to the branch OF trade
affected, and it is believed that in less than
80 days hence it will be all the better for
having withstood the shock.
Iron, Dry Goods and Wheat.
Iron and dry goods have undergone like
shocks. The wheat market has tended
downward during the greater part Of the
week. Corn has done likewise. In both
cases good growing weather renewed favor
able crop reports, and heavy receipts at the
West, together with lower prices abroad,
have conspired TO this end. Provisions
have iluCtuated within narrow limits, but
receipts of hogs have been very great at
West. and prices on the whole have de-
clined There is little trading in this line
exec pit by operators.
coal has improved slightly. No higher
prices will be charged for August delivery.
The production of anthracite TO July > is
over l,lUC 600 tons in excess Of a like date
in lS>2.
Petroleum
has teen stesdily maintsined at about last
wee ks closing price, despite an apparently
besrish report of July operations The re-
however lie npllpGpN FAnrASHlt
oppcsite view, inasmuCh as the increased
July production is the result OF forcing
Old districts by torpedoing.
Ocean freights have been tirmer, and pc.
troleum charters have been frequent. The
wool trade has continued active, aud bet
ter feeling prevails in al! markets, although
there is no material chan &c in prices.