Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1894-01-22
THE MARKETS.
An IMPROVEMENT IN fHE SITUATION NO
IIcEAsLE AT NEW YORK.
General Business More Aetivs-Banks Still Gain
irg Cash, and the Demand for Money Growing
SirOnger-COaditiOns Of the Past Week.
sp.Hai T.,<crs,n 10 a. sunday R,yt,ts-


NEW SoRK, January 2o.-There has
been distinct improvement In the gen
eral situation at this centre during the
past week. and it is the KIDD of improve
ment that has possibilities OF lasting, be-
cause IL Is based on a general increase of
industrial productions throughout the
country, and by very perceptiole in
crease in general consumption.
Outside or the Stock Exchange, the
various markets show increased sales and
greater activity, while the volume OF bust
ndss for the week, in the respective mar
kets. is larger than has been exhibited in
many weeks.
In the grocery trade the larger houses
report business as fairly good; showing n
material increase over the previous week.
and with collections better than at any
time during the last few months. Thisim
provement is owing largely TO the fact
that stocks Of groceries are very low ali
over the country, and the Frightening ten
dency OF the past week has brought out
many others from buyers VINO have here
tofore been in need OF goods. but have re-
Trained from laying in stock until condi-
| tons looked more favorable
~ THE HARDWARE LINE,
the growing activity of the week has been
brought about by almost similar clrcum-
stances. The increase in orders has been
marked, and the Improvement in collec.
! tions is likewise perceptible The reopen
ing of industries in various sections, and
the starting up OF a number OF mills and
factories, has stimulated the revival OF
building, hence the Improvement.
In the dry goods line, trade is fair, with
the principal demand being for the cheaper
grades OF goods
Contracts for future delivery OF all
grades OF goods are coming IN more rapid
| ly, indicating that MANY OF the buyers who
have held back their orders are now begin
| ming TO send them in, in expectation of in
creasing trade.
In the iron and steel markets conditions
continue the same as noted in these col
umns n week ago, but what changes are
TRANSPORTING arc OF an encouraging charac.
ter; the principal activity OF the moment
being based on contracts for structural
material. From the market here il is evil
dent, however, that the general demand
for pig iron is slow; and for steel, weak,
with the tendency Of prices lower. In the
banking line, money still pours into This
city and
THE PLETHORA or FUNDS
a
moce rapidly than heretofore: the expau-
sion being about 81 SOC, 900 a week while
the influx OF funds amount TO more than
Sll 600, 900. The total amouut OF cash now
held by the New York Clearing House
banks is 1894, 562 100. while the surplus
reserve is $4,000, 900 With this vast
surplus, il is very probable that the banks
invest largely in the new per cent-lO
year $5O,OOO0OO issue OF Government
| bonds.
=. ~ -
| the bankers OF New York stand ready to
take large portion Of the issue as the
| best investment for their idle funds, as
! well as TO assist the Treasury, but as the
| proposal fer the purchase of these bonds is
an open one, it is also probable that good
| sized slice OF the .s5ue may be absorbed
| by the foreign investor
SO far, the Secretary OF the Treasury
| has offers amounting u four times the
! total issue, and has also received bid OF
/ l2O, which consequently brings the in
| terest down TO 2& per cent, and 1t is high
! ly probable that no better offer than this
| will be received.
| or THE STOCK EXCHANGE
business was a little more active last week,
| but as whole the volume OF trading 8 but
meagre. Professional operators supply
| the bulk OF the speculation, and hence many
changes in prices are brought about by ar
| thcial means.
! Fluctuations were mostly confined TO
| fractional points and prices were weak.
| The money public are paying some atten-
| ton 10 railway bonds, many Of which can
now be purchased at price 10 net 9 per
| cent TO the investor. The municipal bond
market was fairly strong during the week,
although more inquiries than orders are at
| the moment being received. Money con
! tinues in abundant supply. on call ruling
! at per cent, while time money can be had
! for 2 per cent for 20 days, 3 per cent. for
| four months, 81 per cent. for six months,
| and per cent. for nine months. CONNER
| cial is quiet.