The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1889-11-11
METAL ANp WOOL MARKETs.
characteristics Of the Iron Trade state of
the Wool Trade,

characteristics OF the Iron TFnds-state OF
the Wool Trade
BrQaareat
The two marked characteristics OF the
iron trade this week are the unwilling
ness manifested by manufacturers Of all
kinds to load up any further for winter
delivery at current prices and the adj
yaacing tendency in all markets, The
Of a further advance in prices
Ia apparent. Pig iron transactions
throughout the country have been rath'
or light for the past six days, ProduC'
ton Is still fully equal to conspmpliYe
requirements, but auy unusual demand,
1t is felt, would produce fluctuations
that would be hurtiul to conservative
buyers and sellers. Foreign buyers
have made inquiries for American iron,
but both prices and ireights forbid busi'
ness OF that character, Splegeleisen,
terro manganese, Bessemer pig and
steel billets have all advanced Q
little during the week, Manufactured
ron and steel OF all kinds rules strong,
and mills are beset with inquiries and
orders for supplies which they arc hard
~ In position to furnish, Steel rails are
very strong at ST. 50a33 80 in eastern
mills arc $35 in western, and negotia-
lions for several large blocks, aggre.
eating $4,000 tons, are now pending All
kinds OF nails are still moving upward,
and to.day's quotations in Chicago mar
kets are So 40 at factory for steel nails,
and wire nails are s. 10, Barbed wireis
very active, and prices on all kinds Of
merchant steel are moving upward, pn'
der q withdrawal OF recent quotations
by manufacturers. Very large orders Tor
rolling stock are looked for in December
from railroad companies, and this, to-
gether with q general stocking up by
buyers OF iron and steel, II Is believed,
will have tho effect OF crowding prices q
little higher.
WOOL MARKET. t
Wool Is going into consumption to o
fair amount, and values are sustained,
While there Is no unusual activity,
holders are as confident as at any time
this autumn. The recent failures, Of
course, attracted attention and excited
comment, but, beyond that, seem TO
have been without effect. II the manu-.
iacturers were sure Of getting an advance
for their next seasons production there
would be good reason N anticipate early
Improvement In the staple. As 1t Is,
the market Is undecided. Sales ore
made now and then, Of course; at con.
Cessions where the dealers are compelled
TO realize for one reason or another, but,
with this exception, there Ia general
confidence in tho maintenance OF the
present basis. Advices from the west,
us well Us from Europe, continue buoy.
ant, This may have an indirect effect
on the New York, Philadelphia and
Boston markets, but has not resulted 10
any positive gain.
Buyers at Boston are operating call
liously, and there seems to be less inquiry
for material for future consumption than
appeared a fortnight ago. Certainly few
sales IRE made beyond tho nearby wants
Of tho consumers, There is nothing in
the strength OF the interior or foreign
markets to encourage the manufacturers
10 long as the returns for tho goods for
which they are about to buy material are
uncertain. Tho lightweight season has
not proved remunerative, aud it Is still
doubtful whether heavyweight goods
will do better. Much wool In store at
Boston Is held on consignment, or by
dealers at a higher level OF values than
can now DO realized. Holders OF Mich.
gan woods in particular are reluctant to
sell on the present basis. Ohio tleeces
are steady at 3la34c per pound, and ter.
ritory supplies are likewise held on the
recent level. Tho receipts Of wool at
Boston since January | are set down by
the American Wool Reporter at 1926, 1GS
bales Of domestic and IA, 100 bales OF
foreign, these figures slowiDga decrease
OF 35,28S bales In the former item, aud
an increase OF 1851 in the latter. Cur.
rent quotations are as follows In compar-
iRon with lAat wear and wear before,