The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1883-02-05
THE BUSINESS WORLD.
THE GENERAL CONDITION OF TRADE.
Report. From til. Commercial Center, of the cosn.
try-WoOl and Iron Intsrssts-The Chicago
steel Works PaIlurs-RsIleW Of the
4 Nall TrAds-Ths Wheat Crop.

NEw YORK, February 4.-Dispatches t
Bradstred's from the trade centers OF the
country reveal continued quiet condition
Of business. Everywhere an expectan
tone is manifest, based upon speculationi
as to the outcome Of pending legislation a
Washington. A distinct improvement il
the dry goods trade Of New York is noted
Wheat has advanced between &c and Sc pei
bushel in American markets in the las
week, mainly as the resultof the increased
prospect OF short crops in Europe mex
summer. The movement Of wheat at the
west has diminished, producers and dealen
believing in higher prices. Corn has de
clined at the west as the effect Of the clos
ing up OF the January corner in Chicago
but prices in New York have been sus
tanned, and in Liverpool the general adj
vancing tendency OF all breadstuiis hat
made an advance on corn.
Thespeculative petroleum market isquiet
and firm. The Forest county region has
ceased to be an important factor, as its
character has been practically determined
as Spotted" and all possible effect has
been discounted. Shannon well No. 8 has
declined from 2, 900 to 500 barrels in three
days, and will probably not last long
Other new wells in prospect do not promise
10 be serious in probable effect on prices,
There were 296 failures in the
United States reported during the past
week, 13 less than the preceding week, s.
more than the corresponding week Of 1882,
and ll6 more than the same week Of 1881.
WOOL.
The improvement in the general condi.
ton OF this market noted. last reports has
been sustained, but there has been no rad.
ical change during the past week. Manu-
facturers are freely meeting current re.
quirements at present prices, and stocks
are being rapidly reduced in all markets.
The limited supply OF some descriptions
notably long.staple ools-prevents large
sales and inclines holders to look for a
gradual hardening Of prices toward spring,
but as yet there has been little actual ad.
vance except in isolated cases. Supplies
remaining unsold in the interior are be:
lieved to be small, and as a rule are offered
indiIerently. There is steady inquiry at
all points for good lots OF combing feeces
and a fair demand at Boston and Phila-
delphia for fine washed clothing and all
desirable grades OF unwashed wools.
Pulled woods that have been rather slow
in the latter market for some time past
have been selling freely during the past
week at comparatively low prices. Re.
ceipts OF all kinds continue small. The
general outlook is encouraging to the sell.
ing interest. Foreign markets are cabled
dull for almost all descriptions.
IRON.
In the American pig iron trade during
the past week there has been no special
Improvement, but it is gratifying to an
nounce that "a better feeling exists" The
sales that have been made have been small
and Of that variety known as "for imme'
mediate requirement." only. Prices re.
main as last quoted on the basis Of S25a2G
for No. l foundry at New York. The
Scotch pig iron marketis reported to be at
about its lowest ebb. Prices have gone oil
about Cd. during the past ten days. and
business is very quiet. Sales are about 500
tons for the week, mostly Of spot lots and
OF various brands. The arrivals were
about 100 tons, some Of which went into
store. The market for. American manu-.
factured iron continues dull, with but little
inquiry. Philadelphia advices corroborate
this, and give current quotations at 2a2.2C
for ordinary bar, 23al.4c for the best re.
fined bar, and 2.5 for tank, ship plate and
angle iron. Bessemer pig iron is quoted al
So 00a22 so, but it is believed that any
considerable cash order lat Philadelphia
could be placed at S2l so. Steel rails are
reported weaker. The orders. during the
week have mostly been for small lots. One
or two contracts for noteworthy quantities
were placed, however, and it is rumored
that concessions were made, in one in
stance the net price being $50 90. The
news OF the failure Of the Union Iron &
Steel Company, from Chicago, has weak.
ened some departments Of the iron and
steel marketa little.