The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1883-07-02
THE BUSINESS WORLD.
GENERAL IMPROVEMENT IN Trade.
The Prominent Elements working to That Fad.
The Wool Market weaker Considerable
Strengthening Manifested In Iron-.Re-
view orthe Chicago Markets.

New YORK, June 30.-Special kilograms
to. ..Bradstrsets' this week from the leading bu-
siness centres throughout the United States
reveal the very general effect of the open
ing of the Summer season. Interior trade
throughout the great wheat-growing belt is
awaiting the results of harvesting. There
are, however, general features of the COM
mercial situation which induce belief in
an early improvement in general trade.
These are, first, the vastly better outlook
Tor a fair wheat crop, an out-turn consid
erably in excess of that credited on June l;
second, the noticeably active distribution
of dry goods at various business centres,
and third, the quite general improvement
in the pig iron movement.
The wheat market during the week has
steadily declined and in sympathy there
with the market for Indian corn. Pre-
visions have suffered similarly, and the
underlying cause of the weakness of the
three appears to have been a lack of conf
dence in the financial condition of leading
dealers in those products at Chicago, con-
corning whom ill-judged statements have
been set .afioat. 10 this cause must be
added the withdrawal of foreign buyers 10
await steadier market, the dullness OF the
home trade, better crop prospects and heavy
arrivals.
WOOL.
BosToN, June 30-The Advertiser in its
weekly review OF the wool market says:
For the first time during the present year
the sales since January foot up less than
than they did a year ago. Then great in
crease in the business of the week took
place, and the sales were one million
pounds more than they were for the prece-
ding one; woolen goods also greatly iIE,.
proved, and the whole tone of the industry
was strengthened, although some OF the
cashmere mills were then doing little, and
signs of the oyer-production of such goods
were very distinct. The increased business
a year ago was due to the purchases by
manufacturers, who wanted stock before
the new clips would be available. Now
there is supreme Indifference concerning
the new clips, and the actual buying that
is being done is very limited, particularly
on account OF dealers. Indeed, some OF
the best informed hold the opinion that
never have they witnessed such inditIel-
ence as now pervades the trade. 1t is very
doubtful il even an advance in Che country
OF two or five cents per pound would affect
the market to any extent, and that in the
past always has, but there will be no such
news this season.
Prices here are generally weaker than
when last reported, and the market is in
no condition to stand any pressure to sell.
There is much Texas wool here, and 1t is
moving slowly, although sales are larger
than week ago, and prices are from to
l cents lower than then. We hear that
long staple free wool has been sold in New
ork at 23c., which must be loss to the
shippers. Much wool that has been held
IN Texas, antioinating that buyers would be
after 1t, IS now being shipped on commits
sion. Manufacturers claim to be. buying
choice Texas here on basis of 60 cents
secured. As rule farmers are not meet
ing the market, although what they will
gain by such course remains to be seen.
1t has not worked well in any State this
season thus far, and while money is gener-
ally cheap and can be secured to carry
wool, it does not follow thatsuc a course
will pay. The truth is that there is such
an ABUNDANCE OF inferior wool produced,
that it nccesearil ly Veakena the other grades,
much as Q surplus OF inferior goods weak-
ems those OF better quality. The great need
OF the country is Tor the farmers to produce
better wool.
IRON.
New YORK, June 30.-The Commercial
Bulletin OF to-day says: The market for
American pig develops additional strength.
Consumers have at last become impressed
with the fact that $40 No. y is a thing of
the past, and, though conducting purchases
cautiously, buy more in excess of immedi-
ate wants now than they have at any
previous time within the past six months.
FuInacemen assume an indifferent man
ner, and unless there is something radically
wrong in the statements regarding the posi-
t!an OF supply, their attitude has something
10 back it up. Even the Thomas
[ (tOfnnany Tpf:Jairs, IGl,l fo,
No. ] \ and $50 for No. 2 y, while s6nie Of
the other prominent concerns talk seriously
of putting their PRICES np. The Hanover
Square contingent OF the Metal ISxchancc
is looming up as "bulW element in the
market, and bid prices up in a manner that
almost cnrls the hair OF the old timers in
the trade.
On actual iron the ruling rates at present
are S23 for No. l I $40 for No. 2 Y and
SiSal9 for grey forge, tidewater deliVety.
Sales reported OF 0GQ tons at SlH for No.
2 x and grey forge, and 1000 tons other
brands at SD for No. \ and $40 for No.
2 Y.
Scotch pig iron moves off in small lots
only and has little or no demand of more
than retail character. The foreign mar
LET continues very much unsettled and
values here are weak in consequence, with
our inside figures about the best that Oan
DO teaHLeu IOI OtueF lnan retail parcels.
we quote S2l for Eglinton, So for Glen.
garnock, S23 for Gartsherrie, Summerlee
and shots, S2aa23 30 for Langloan and S33
a23 80 for Coltness,
English pig continues very quiet. Stocks
here are small and prices nearly nominal.
Bessemer quoted at tabout sci, and No. 8
at Sl9 for future shipment.
Illinois Crops.
SfRINGAIEIR, IL, June 3O.-From ad-
vance sheets OF the June crop reports, pHb.
lished by the State Board of Agriculture, it
is shown that the estimated increase in tho
corn acreage overthat OF 1882 is 3 rer cent
making the corn area this year over $780,
600 acres. The condition Indicates a yield
ee-tourths as large as large as the aver
age, or 1GS,75O,0OO bushels less than the
crop OF 1882. The condition OF broom corn
and sugar cane is discoufaging. Winter
wheat prospects are moi as good as in May,
and the preaent estimates 10000 900 bush
els.
Chicago MARHgrS.
The situStio" On 'Chanxa-Lower Fig