The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1888-05-14
CONDITION OF BUSINESS.
Downward Tendency OF Prices for Iron not
Checked.

Downward Tendency or Prices Tor Iron not
Checked.
Bradlsrtes' Report.
The Eastern pig-iron markets have
been dull during the week, with no spe-
cial change in prices or demand, except
that the downward tendency to quota
tons has not been checked. Southern
furnaces are doing well; many are over
sold two to four months, and several ad-
ditional large Western and n few small
Eastern orders were secured this week.
Eastern Pennsylvania pig.iron quota
tons are: For Southern No. l, deliv-
cred, SIS so, at Philadelphia; No. 2, $l7;
gray forge, SIS; standard Pennsylvania
No. 9, foundry, ut tidewater SlS; No. 2,
SIS. Bar-iron is more active and nails
move still more freely as building oper-
atoms expand. There is some inquiry
for fiat, tank and structural iron, though
the general iron trade does not admit
that the improvement will be perma-
nent.
The impression is general, so far as it
is worth noting, that there will be
greater activity in the iron trade in the
summer months, but tho only basis for
this belief is that demand and produce
ton have been curtailed for months and
prices have in most branches OF the iron
trade gone down to cost.
Copper has been rather more active
this week ut the range OF l6.40c to $4,000
per pound for lake ignot in this market.
The reporting Lake Superior mines pro-
duced l,lG3 tons in April and 1888 tons
in the first four months Of the year, The
Boston and Montana Company's output
cost ). T0c per pound Of refined copper at
the works and about &c more than that
laid down in New York. 1t is thought
the cost will not exceed &c after this
month. There is believed to BIO still
some fire in the Calumet 4 HeCla mine.
Copper shares ut Boston are strong,
Calumet & Hecla selling at $237 to $3.50,
Tamarack at $3.50 to $l5l, and Quincy
$3.50 to $40.
At st. Louis iron sales are in mod
erately better volume, and there Is less
disposition to offer concessions, and the
stocks on hand are not heavy, butprices
are not quotably improved. Pig iron is
chiefly confined to u hand-to-mouth
movement, and opinions differ rs to
whether bottom values have been
reached. Some large requests at shaded
prices have been declined by holders.
THE WOOL TRADE.
Consumers of wool throughout the
country arc restricting their purchases
even more closely than usual to their
current requirements. With the new
clip coming in caution is natural. Most
Of the mills are employed on orders for
which material is required, and to this
extent there is demand for the fibre.
Speculative activity and purchases for
future consumption are entirely want
ing. Small lots OF Texas and California
wool Of the spring clip are beginning to
arrive on the seaboard. IN the former
State the staple is accumulating, buyers
and sellers appearing far apart in their
views. The season in California is late,
and there has been no buying. The
general condition of the California pro-
duct is not SO good rs last year. Ac'
cording to the Boston Journal OF Com
merce, the prices now obtained for fine
woods are the lowest in the history oil
the country, unless they were lower
previous to 1924, from which date
only quotations are obtainable.
Medium wool, however, has moi
shrunk so much. AS q rule since 1876
this grade has sold for better prices than
fine wool. The London sales closed
firm, with choice selections one-half tc
one penny higher than at the opening
A good advance and active demand art
reported from the Antwerp sales now IN
progress, and prices are firm. The Bos
ton market is quiet, with no business
doing beyond enough to satisfy the i'm
mediate requirements Of the manufac
turers. Some considerable sales Of ter
ritory stock by one or two houses are re
ported. There has been no specia
activity in any other description. Their
is fair request for Michigan wool at tn
reduced value. Fine Ohio feeces ar
dull. Combing and delaine stocks ar,