Wheeling Sunday register. [volume] (Wheeling, W. Va.) 1882-1934, 1885-06-21
STATE OF TRADE.
Short Crops and General Businoss DePres
sion Over the Country.

i
New YoRK, June 20.-Spscial telegram
to Brsdstreefs from the larger cite
throughout the United States continue th'
record of almost uniform midsummer dull
ness. At few of the smaller cities, thsr'
has been an improved demand for loans
notsblyat Detroit. At the larger trade cen
tres the reverse is true, with the sole exeep
ton of Cincinnati, where the demand fo'
money is mainly to move the new clip o.
wool The volume of produce and genera
merchandise moving throughout the coun
try is light, probably smaller than at like
pariod last year. In the Northwestern, OF
spring wheat country, this is undoubtedly the
case. The surplus bank reserves at the
Eastern financial centres, as well as at Gni
cago, continue substantially as heavy a.
heretofore, and call loan rates unprecedent
edly low. At New York, in the speculative
markets, all the money wanted can be OBJ
tanned at per cent. on call, although IA
per cent. continues to be the nominal quota
ton.
The pratical dissolution Of the iron strike,
or lockout, at the West by means IF mutual
concessions, is q credit to both employees
and employers, and most of the idle Pitts
burg mills are, or soon will be, busy. The
mills further West cannot afford to continue
the struggle now that Pittsburg has decided
to 20 to work. The iron and steel indus,
tries show no signs of improvement and
prices are unchanged The sale Of 5000
tons of iron nails at Philadelphia at $l725
when the nominal quotation has been SIG. 90
@l6 SO for a long time past, shows that the
old rail market is not as bad as has been
reported.
The anthracite coal trade is duller than
previously, and side tracks along the lines
of the coal roads are filling up with loaded
coal cars. The bituminous trade is quite
denoralized 80 far as prices are concerned
owing to the competition from newly de-
veloped fields.
The wheat market is dull and dragging,
and it is becoming more evident daily that
the winter wheat crop is TO be very short
one. The damage since May l has ex-
ceeded all precedent. Just how short the
crop will be it would be hazardous to pre-.
dict when the margin between the various
reliable reports thereon is 90,000,0OO bush
els the totals given ranging from 360, 0,00O,'
400 to 27O,000,900 bushels. 1t is also
likely that the stocks on hand visible and
invisible have been overestimsted. If the
reports of the shortage are two-thirds veri-
6ed, the United States is likely to have
only its present surplus visible and iuvisl-
BILE for export. This, with light stocks in
England, with shortages in Australia and
New Zealand an under average in Austria
and Russia, and no grsin in India, and with
10000, 600 bushels deficiency in France and
the United Kingdom,is likely to push wheat
prices we'll up before July /, 1885. No. 2
red closed yesterday at SlOl against 81 OF
last week, and No. 2 mixed corn closed at
553 cents against 543 cents last week. Corn
has been firm on light supplies and fair
demand.
Provisions have been dull and lower.
Heavy receipts of hogs and free sales have
prevented any advance.
Petroleum is higher and fairly active
with no new features beyond those appar-
ent for some months past.
Dry goods have been in moderate request
and the production of cotton fabrics in the
East promises to be restricted. Wool is in
light demand and ssles are small. At Bos-
ton the weeks transactions have been
smaller than those IN any other
week since January l. Prices are
steady, but any pressure to sell would re-
duce quotations Cotton continues its down
ward course under light takings, and the
promise of an unusually heavy yield. Mid
ding uplands went of 3-l6c to 10 7-l6c
during the week.
Grocery staples have moved very slowly,
with coffee lower and tea depressed. Dairy
products are easier, though slowly in de-
mand.
There we're ITO failures in the United
States during the past week, as compared
with 1917 the proceeding week, and with
1871, l78 and i37 respectively in the CORE
spending weeks of 1884, 1888 and 1882
About SS per cent. were those of small
traders whose capital was less than $4,000.
Canada had %, an increase Of six.
Wool.
Boston, Mass, June 2O-Wool: demand
moderate; new wool continues to arrive
quite freely, largely Texas; Michigan extra,
5sc; pulled wools, 20@32c, for common to
very choice supers; others unchanged.
LONDON, June 2O.-At the wool sales to-
fay IL, 800 bales of New Zealand, Adelaide
and Swan River were sold.
NEw YORK, June pa slow goods
market acts as check upon msnutsctur,
,rs. When a buyer really sees use for
.lock the call is prompt enough. No OBJ
!. ction to the ruling cost can be heard, the
inc of prices on the latest prices showing
n about steady, though it has been a some
what slow week for all grades except
Texas, and they move only fairly. The
sales here embrace 10000 lbs. Xxx Ohio at
3O632c; 5000 lbs. y Michigan, 2Sc; 5000
lbs. New York State, 274c; $4,000 lbs.
spring California, l3l@2lc; 5000 low do,
soc; 1876, 900 lbs. spring Texas, l3@l2c;
23 900 lbs secured Texas, 37@422c; 10000
los. fine fall do. 433c.
PHILADELPHIA, June 20.-Wool is q little
more active. Supplies are gradually in
cressing, and with better assortments man
ufacturers operate more freely. Prices are
steady but unchanged. Ohio and Pennsyl
vania one fourth clothing, 28@29c.; do,
medium clothing, 30@3le.; do. onefourth
washed combing, 34c.; do. medium do, 81
32@33c do. fine delaine, 32@33c.; do, y
and XX feeces, 3O@33c.; Ohio and West
ern unwsshed one-fourth clothing, 20@22ci
do. medium do, 22@23c.; do. low and
braid combing, Pc; do. one-fourth comb
ing, 236 24c; do medium do, 23@24c.
Kentucky and Virginia medium combing
26c.
PHILADELPHIA, June 20-Wool quiet
medium, washed combing and dslsine, 8;
@34c; tub washed, choice, 33@34c.
coarse, 2S629c.