The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1884-05-19
TEE BUSINESS WORLD,
THIS ofNERAL CONDITION or TRADE
Tho Movement Of nsrctaadIss Chtektd by The
flurry on Wall lS.rsst-Breai,.uir, ir, and Pro,h.
ion'-Soihins new In the Iron Aa,l.,-Ths
Failure Rscord-MoOl ia BuytrA' Favor.

ASAt @hny - UuueICttS EhJE
The general movement Of merchandis,
throughout the county, already moderat,
J and conservative, recognized tho pani.
among Wall Street apeculators to the ex
tent Of still further checking its pace. Be
yond tho disturbance caused by the exist.
Ing high rates for money and the disincli.
nation Of traders to make ventures ut a
time when uncertainty hangs about the
money center Of the metropolis, there has
been no serious effect Of the panic on the
general commercial community. The in.
lluences outlined, however, have not con.
tiued themselves 10 New York, but have
extended 10 all the leading business cen.
ters east Of the Rocky Mountains. Finan.
cial institutions at far western as well "a
eastern cities have discounted LEES freely,
and In some instances called in their loans.
Jobbers and manufacturers report more
pronounced conservatism among buyers.
and more rigid adherence to the hand.
to.mouth policy. At Chicago only, among
tho large cities, has this feature OF The dis.
tributive ementbeen inconspicuous.
Wheat, which had already begun pro.
cess Of liquidation, in order to get rid Of
the influence olthe June cornerers wes as.
sisted by the collapse in stock prices, and
prices fell away o.c Tor cash on tho week.
Indian corn was stronger, owing to light
receipts and better demand, and lost but
s!c. At'all the leading exchanges yester.
day sales were very light, and there was
very little Of the ruah aud noipe OF an ordI-
nary day. The absence OF any new fsil.|
ures Of Importance strengthened and I'M.
proved the tone Of trading lest evening,
and prices in all lines closed higher.
% Dry goods have been quiet, but prices
are well sustained. Dispatches to Brad. |
streets from Chicago at the close uf yester. |
days market say r"Wheat opened iirm on |
covering by the shorts. Kumorcd New
York failures broke 1t 21c. Shipments ara
large on old orders for export. Corn wua
active and closed 3c over the logest prices
Stocks will be largely reduced his week. u
There were lS7 faiures and euspensions
in the United States reported to BradstrIg's
un.ihg ,an tne pas: week, as compared with |
~ IN the preceding week, and with lCC,
ny and SS respectively In the correspond.
Ing weeks OF 1888, 1852 and 1851, About
70 percent were those OF email traders
whose capital was leas than s. OOO. Canada
had 20, an increase ol Is. =.
IRON. |
There is not much that is new to report
this week concerning the iron trade. No.
/ pig iron and gray forgo, standard brsuds.
are stiiily held, owing to thelr scarcity,
10. ! pig iron is firm. Quotations ara I'M.
changed. There is slightly increased
hrmness IN bar iron, in part due, probably.
70 the outlook Tor strike in Pittsburgh on
June lat. The manufacturers insist on a
ten percent reduction in wages, and the
Amalgamated Association OF Iron Workers
decline to accept the decision, Last wear
the mill oTners, unable to depend on each
other, capltulated at the last moment, This
year it is claimed that arrangements have
been perfected 80 secure cooperation, east
and west, in enforcing the terms of The re.
ductlon. June lst will therefore witness
strike unless the workmen decide to take
legs. The steel rail ia quiet. A few orders
haye been placed at S3i OOa34 80. but there
has been no..new business OF conseouenca
Ihe arrivals OF Scotch pig iron during the
week amount to about 1900 tons, nor.
tlon OF which %es stored. Prices are nom.
lnally unchanged, and the market is dull,
WOOL.
BcsToAa, May l5.-The Aiyerlissr in it's
weekly review Of the wool market, saye:
Trade has been much rs in previous
weeks, and the market remains in buyers'
iavor. Manufacturers buy only what thew
are obliged to, and each time they come
into the market, want ta buy 1t lower
priocs than before. The unsettled state OF
financial matters is OF course reflected up.
on the market, and credits are very care.
fully scutinized, 1t is. hoTe;e;, isIt that
whenpys; speculation Is checked by hiVh'
rate Tor money, and the rage Tor gambling
is also, there should be enould be some
RESTORATION Of confidence later Althouvh
stocks Of wool are light here, there is no
anxiety on tho part OF manufacturers to OBJ
tain supplies, neither is there any eagerncs,
on the part of dealers to buy Of tie new
fi!ru s. prices shiehar generally high and
more Ae1as wool Is arriving here, and it
i IS atcumulating In that State, the latest re.
ports being that the demand there is light.
For eeYer pnd eight n.ontha' wools the
range there lYal8c, and for y months aOs
24c. The best Texas here would sell nj 29a
PIC. Considerable Texps will be received
here between now and June, and az yet
sales have been light. Very little has been
done in Kentucky, although come choice
wool has brought Csc there, which would
have to be sold here at 2Ya2S. The Mis-.
souri, plipis backward, and some few lots
nave been sold there at 2O42lc. Early un-
weshed iat sheep wool Is coming forward
from Ohio, but Il Is not considered verv