The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1897-07-24

NEW YORK. July 2S,-R. C. Dun &
Co.'s weekly review OF trade tomorrow
will say:
The end of uncertainty regarding du-
ties on imports gives greater confidence
alike TO those who have opposed and
those who have favored the change.
The great strength in stocks, partieu-
larly in those OF the granger stocks,
reflects assurance of heavy crops. The
remarkable rise in wheat, notwlth-
standing that assurance, is based on
heavy buying for export and belief that
foreign demands will be large. To these
must be adde another element OF conf
dence, scarcely observed u week ago.
The heavy increase in receipts OF gold,
whether from one side OF tho Alaska
border or the other. swell the deposits
at the mInts and In the banks OF this
country, and II the yield from new re-
glons answers current expectations, 1t
may have an influence akin TO that OF
gold discoveries in California. The one
retarding force, the Strike OF the coal
miners, has caused closing OF few
manufacturing works for want OF fuel.
but negotiations for settlement are still
pushed with hope.
The wheat market Is the sensation OF
the month. Since July the price had
risen u cents by Wednesday, when
reaction OF 1 cents was not surprising
but the close was &c higher for the
week. It is noticeable that this rise
came in the face of highly favorable
crop news, which is not disputed, and
had for support nothing but foreign
conditions and demand. Actual buy
ing for export has at times been heavy
and loading OF cargoes here and In Cal
ifornla for countries which usually con-
tribute to European supplies, greatly
strengthens the impression produced by
continental reports that there Is spec
ulative handling behind the great I'D
vance Is evident, and the buying TOT
export has not yet resulted in Atlantic
exports quite as large as last July to
date, 1852 bushels, flour included.
against 4,96l, ,746 last year. Western re-
celptB 5,252,271 bushels in July, against
lO.9T5,257 last year, indicate concerted
delay Of shipments which, however,
rarely withstands the influence Of a
substantial rise. Corn exports are still
heavy, $685., 1886 bushels in July, against
242l, 900 last year, which perhaps re-
fleets more certainly than the wheat
movement the actual conditions
abroad.
Both because OF the season and be-
cause of the pending action on the tar
IN, Industrial operations are waiting
and yet with an improvement which
under such circumstances is significant
The half yearly production OF pig IRON
exceeded the last half OF 1896 by 75B,5s5
tons, but outside the great steel compa-
MES, there Is little activity at this time.
though they are increasing their out
put. The Illinois company has sold
basic steel for export TO Germany, n
New York sale of hoops Hor Manchester
is announced, and additional orders for
Pennsylvania iron bars TO England.
Bessemer pig Is q shade lower with oth-
er quotations unchanged; the demand
for plates, sheets, pipe and structural
work is growing. Minor metals are In
better demand, tin at Sis % and lead at
50 Is, and copper Is sustained at llsc,
for lake exports, though the June pro-
ductlon was 1858 tons, and that OF the
half year 1OS.651 tons There is gen
erela advance in boots and shoes nv
eraglng about III per cent, with n
larger demand. MS dealers lose hope OF
lower prices, but leather is unchanged,
and hides at Chicago average 2 per cent
lower.
The textile industries have lost no
ground, as the ourtailment Of produc-
tIon in cotton for time is really
gain. The demand has somewhat In.
creased, but tho accumulated stocks OF
goods must be reduced before impa-
tlence to buy can be expected. The do
mand for woolens increases as TO low
and medium grades, with reported large
sales at advances Of to 10 per cent
over last spring. Speculative sales OF
wool continue large. and prices are very
strong, especially at the west
Failures for the week have been 22I
in the United States against PSI last
year, and IS in Canada against 20 last
year.