The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1897-02-20
BUSINESS IMPROVEMENT
NotsdIn In AlnOst All lIuss orTrade, Par-
tioulaFiy In Iron aud Steel.


tloulaFiy In IrOn aud Steel.
NEW YORK, Feb. 1s.-R. G. Dun &
Co.'s weekly review OF trade tomorrow
viii say:
I A large increase In the Iron and steel
business on account OF sales covering
eight to twelve months production OF
the largest works, better demand for
woolen goods and slightly better for cot
tons a gain which may prove lasting
IN boots and shoes, slightly better prices
for wheat, cotton, wool and iron and a
money market well adapted to encour-
age liberal purchases against future im-
prOvement In business havo rendered
the past week more hopeful than any
since carly In November.
Tho heavy excess OF merchandise ex-
ports over imports In January, the con-
tinuancs OF exchange rates showing
that Europe IL stlll largely Indebted TO
this country on current account, and
tho prospect that Congress will adjourn
without any disturbing action, all have
their favorable influence upon the
money market and upon future UNDER
taklngs.
In nearly every branch the great steel
and iron industry feels the upward im-
pulse supplied by purchases OF steel
rails, said to be half q million tons each
from the Illinois Steel Company and
the Carnegie Company, besides some
from other companies, In part as low as
SIG per ton, about 100000 to foreign prir-
chasers at Sl7 and SIS, but all recent
sales at $50 to eastern and $2l at western
mills. Nearly all the great railroads
OF the country have seized the Oppor-
tunlty 10 supply themselves with rails
for one or two years requirements.
These enormous orders have advanced
Bessemer pig at Pittsburgh only Is cents
per ton, With Grey forge q shade lower,
and no considerable changes appear in
finished products, although plates are
unchanged IN price with good demand,
and nails are held at recent prices. The
bar association no longer controls any
thing, and iron bars are quoted at 81 %
per 100 pounds. while steel bars are
quoted at IS cents per 100 pounds Struc-
tural forms are steady, although 100000
to 10000 tons are said TO be required
In New York alone this year, and Amer
lean tin plates nre still selling at $S 20.
which Is 20 cents less than the price for
foreign.
other industries are gaining also,
though less consplcuOusly. The recent
decline and subsequent rise In raw cot
ton have not materially affected the
manufacture though there seems to be
but little increase as yet in the demand
for goods. The sales OF wool have sharp
ly declined. amounting 10 100000
pounds for the week, against 8, III, 900 for
the previous week, but owing to the
heavy transactions early in the month
the sales for three weeks have been S0.-
10000 pounds, OF which lS,057, 300 We're
domestic, against l3,16S, 700 pounds last
year, OF which 5.s97,bOO were domestic,
md 16.SS6.20O In 1895, OF which 1884 200
were domestic. The larger mills have
acquired full supplies for the present.
and at any advance OF prices they ap-
pear ready TO drop out Of the market.
The demand for woolen goods does not
seem to have expanded materially, and
no uu0tablG change In prices has ap-
peared during the week. The heavy
eSoprta In January, following the ul-
precedented excess OF exports over inl-
ports OF merchandise IN tho four pre-
vIouR months, are largely due to the fact
that neither the wheat nor the cotton
markets have been materially controlled
by speculation.
Wheat dropped 10 So.55 cents, but rose
to 81. cents, with no important impulse
except the conviction that the recent
prices have been low enough The At
iantic exports, flour Included were only
1885, ,376 bushels for the week. against
i,SiO,aOl last year, hut for three weeks
have been b,0SO.4f1 bushels, against o.
4iS. .Ag9 last year. Meanwhile the west
ern receipts OF corn hnvG been well nigh
double last years, and for three weeks
tho Atlantic exports have been G,3li. GA
bushels, against 9,gSi 1893 last year Evil
IDENTIFY this movement Ia dlsplaclng
many millions Of bushels Of wheat In
forelEn consumption.
Failures for the past week have been
SOS in the United States, against $50 last
year, and IS In Canada, against GO last