Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1883-02-28
HOW'S TRADEp
The Question Answered From Va
ri0us Points.
The Iron Business in the Neighborhood Of
Philadelphia in Healthy Condition
Serious Embarrassment Imi-
nent-Western Failures.
THE GRAIN TRADE IN THE WEST.

PHILADELPHIA, February 27.--There is
little to report beyond the fact that the
trade is still waiting for some definite ac-
ton in regard 10 the tariff. The strain is
very severe, and in the West heavy failures
appear to be almost Of weekly occurrence
The disposition to buy or sell is only part
of the trouble, inasmuch as credits are said
to have been tightened just at time when
extra facilities were necessity. However,
the trade in this vicinity appears to be in a
healthy condition, and, although sales are
hard to make, there is no reason to sup
pose that any serious embarrassment will
occur, but, if the present condition Of
affairs were likely to continue any length
of time, there is no doubt that Serious en-
barrassments would follow. Within tho
past few weeks the following firms have
suspended payment: The Union Iron and
Steel Company of Chicago, the Kansas Roll
ing Mill, the Bay State Iron Company, the
Kloman Iron and Steel Company, at
Moundsville, w. Va, the Kloman Works,
at Pittsburgh, John W. Ayers Sons, and
the Fox River Iron Company.
Pig Iron.
The demand has been very light, con-
sumeTs having the impression that prices
will certainly not be higher, while there
may be chance that they will go frac-
tion in the opposite direction. In any case,
there has been no disposition to buy be-
yond what was absolutely necessary, and,
with considerable efforts from all quarters
to SELL the market has had very dull and
unsatisfactory appearance. Stocks Of pig
iron have undoubtedly increased consid-
erably, but it is likely that the turning
point is near at hand, so that prices will
become steadier under heavier consump-
tion and at the same time, probably, de-
creased production. There has, undoubt-
edly, been heavy demand held in abey-
ance since the agitation on the tariff
question commenced, and once that is
finally disposed OF, there is no question
that very active trade will be developed.
Prices have been forced TO a very unsatis-
factory point, however, and with such &C
cumulations of stocks as have been made
during the past three months, it will be
difficult TO get them up to remuneratiye
figures again. Hence
It is 10 be Feared
that the few weeks OF tariff tnkering will
result in months of improbable business
to one Of the most important interests in
the entire country. There is ample room
for encouragement, however. Consumers
are carrying very little stock, and as their
requirements are likely to be large, they
must of necessity be steady buyers. The
general position is good, and as soon as
business is allowed to fall into its ordinary
routine, there is little doubt that stocks
will seem much less hurdensome than they
have been OF late. For several weeks past
it has been almost impossible to sell any
thing at market rates with the exception
of perhaps a half dozen brands, unless in
trifiing quantities, so that quotations ol
late have been all more or less nominal
Choice No. foundry iron has been taken
at S25 to $26, delivered in Philadelphia; No
. at $23, and Gray forge irons at all sorts Of
prices from $40 up to So. The market l.
still in EN- extremely depressed condition
but, in anticipation OF early improvement
holders are not inclined to go much below
the rates quoted, unless the lots are si con
siderable importance. Nothing whatever
is doing in foreign iron.