The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1896-08-08
THE TREND or TRADE,
Matters Not Altosctltr Encouraging.
Tl,at-ii,gN,a. or the MISUNDERSTANDING
Canntlty,0f tliU Country Idle-Inbor IN

MHNA.N.HL NaN#.-M|N
Matters Nat Al,oscthyr Encouraging.
Tinet-i;iglii,s or tho MISUNDERSTANDING
Capatl,y,of the Country Idle-Labor IN.
Hal shnpe.
NEW Yoltk, Aug 7.--R. q. Dun &
Co.'S weekly review Of trade, which lo-
sites Tomorrow, WIN say.
Tho sensational collapse Of spccuiators.
Mt Chicago who controlled Diamond
mitch and New York Biscuit stocks aud
had hhisted tllcm Ia. fancy PRICES. with
the consequent closing OF the Chicago
stock exchange for Il period got indeil-
Mite, though followed by remarkably
few failures, brings u sudden change
IN monetary conditions Throughout. tho
cnnniry. AZ least Il month ~carlier thau
Ind been expected, Chicago Inns drawn
heavily upon, Illinois bank balance here
una Withdrawals or other western funds
muy naturally result. Europe wns also
Inclined TO we'll American stocks freely,
no that TIM average OF sixty most active
rallrunhtstocltf fell about 81 IL per share
anu the average VI trust stocks about
81 IS. Tho Instant cooperation OF mon
cy interests with Chicago u, restrict dis
turhunce deserved prllse AMI did much
good, but II IN not possible to avoid Home
siocl; to public confidence. and u quick
lightning Of, eastern money markets
which already shuts or commercial
loans almost entirely, Tho collapse also
Increased thu caution of bunkcra and
other lenders regarding loans on sccurl-
ties OF u similar character.
1t Is important that the Increase OF
merchandise exports. 100000 or u pcr
cent over last year. for the week, and
4 ln- ilnNrhn EnI NJ 4 p,yNanFu. N S5nh mn ~. = =
per cent, still continues to limit the sum
payable abroad, In live weeks the In
crease OF eXn0rtS has been 1880, 900 of lG
per cent and the decrease of imports
$v,2Oo,00O or Is. per cent, which helps 10
balance ACCOUNTS, The movement Of
Wheat Is nglii large, Atlantic exports
being l,7Gl 1888 bushels for the week,
flour included, against I63,330 last year.
Conflicting crop reports are ns nutnCr-
Gus and noisy aS ever, but til. more relih-
BILE mnrk-up winter wheat to 200,0QO, 900
bushels, md the movement tends to sus-
tain SUCH estimates, for since July /,
western receipts have been l1,G33, 80?
bushels against 9.330,090 last year. 1t ID
not easy 70 believe that with prices l0c
lower than a year ago, farmers hive
marketed from n smaller crop 90 per
cent more wheat, Corn IL also moving
ihibhly Win Nh5lNlh iNLFIIit5 VI 1,OtOtVSL
bushels against !, G6l ,0Ti last year.
The situation us to cotton Is doubtless
critical for many producers. Extremely
hot and dry weather has done serious
harm, but it3muSt indeed be IN extra
ordinary condition that reduces the
yield 20 per cent In August. Men OF
much knowledge aud experience, but a
few days ago Judged Il Yield OF 10000
900 bales probable, und IL they were
1000, 900 bales too high. still those who
o predict only 1000, 900 bales are
likely TO err In the, opposite direction,
With large acreage II Is always safe to
remember that only n part of the crop
Is ever affected by nislortuncs between
August ! and frost time. The price ro9e
almost beyond precedent. u on We'd
ncsday alone and the alarm will At
least be OF service 10 planters in giving
them better prices, whether buyers rca-
lie profits or not.
Labor is more disturbed than usual.
The great strike OF garment workers
here has much extended; the strike at
Cleveland has broken out again and in
wolves several branches of labor: the
iron furnace men OF the Shenango val
ley resist a reduction of wages OF May
1898, though Mahoning valley workers
do not think the Iron works through
out the country are striving to cut
down cost IN order to keep In opera
ton; tn. iron mines OF the Gogebic
range are stopping: the suspension OF
cotton mills has become more general
and over !, 000, 900 spindles are said to
be idle at Fall River alone and prob
ably three-clghths or more OF the en-
tire producing capacity In the country:
the rubber works have mostly stopped
and notwithstanding the light weight
opening, 4 number Of Soolcn mills also.
Evidently both the working force and
their wages have been reduced.
The IRON works are less demoral-
lied In tone because all the asSocia-
lions decided to maintain prices for
this month, but the markets are not
stronger In volume or orders or pur-
chaScS. Pressure 10 sell. even at CON
cessions, Is the prevailing rule, and
Prices are almost nominal.
Minor metals are generally weak. but
prices Of coke and coal are held WIKI
out variation.
Curtailulent OF production In cotton.
does not bring a stronger market and
n, few quotations are reported. Sales of
light weight woOlens arc diSlppolnt-
Ing and mainly for cheap grades and In
some cases prices are again reduced.
Failures for the week have been 2i0 In
the United States, against 225 last year
and thirty-two in Canada, against for
ty-three last year.
- = V,t, 3. ~ "-