Daily new dominion. [volume] (Morgantown, W. Va.) 1897-1906, 1897-11-13
Cold and Stormy Weather In
creases Orders.
BIG CLEARING HOUSE PAYMENTS.
Railroad Earnings For the First Week
of November Nearly Equal to the Same
Week of 1s9e-The Iron Situation.
Condition of wool-The Failures


Co.'s Weekly Review of Trade issued
today says: Colder and stormy weather,
so long needed to accelerate distribu-
ton of winter goods, has materially
helped in some quarters and the re-
sultant improvement in retail trade is
mentioned in nearly every northern
dispatch this week so that orders to fill
stocks have been encouraging, and in
some branches the multitude of de.
mands for immediate delivery show
that the distribution to consumers has
already gone much beyond the expect.
ations of dealers. But this is not yet
the general rule, and with many com.
plants of delayed trade from other
quarters, there still remains the extern
siye shrinkage caused by fever and
auarantines at the south. It is, there
fore, the more surprising that the vol
ume of all payments through clearing
houses continues about as large as in
1892 and 1877 per cent larger than last
year.
Railroad earnings also nearly equal
those of 1892 for the first week of No.
vember, and half the mileage in the
United States shows earnings in Oeto-
Der Of $50.354, 496. or per cent larger
than last year and % per cent larger
than 1892. Speculative markets feel
disappointed because prices do not rise
farther and faster. but it is fortunate
for producers and dealers that the ex-
perience of some past years in that re-
spect has not been repeated. There is
nothing to cause general reaction, the
purchasing power Of the people is
gradually increasing. and after the lull
which follows extensive replenishment
of stocks trade should give ample evil
dence of that increase
The output of iron furnaces Nov.
was 213, 1853 tons weekly, against 200,-
| 1919 tons Oct. l, gain of 81 per cent,
and unsold stocks decreased 4S, 800 tons
in October, indicating larger con-
sumption in manufacturers than ever
before, even when the output of pig
was pushed by swiftly advancing prices
to the highest point, 217 $3.50 tons, Nov
| l, 1895. Prices of iron products rose
that year 55.3 per cent. but are now not
per cent higher than June 9. The
enormous output, with some more
furnaces started in November, causes
but q slight decline in Bessemer pig to
$10.25 at Pittsburg, with no decline in
other pig there, at the east or Chicago.
and no fall in prices of finished
]
While most works have orders for
the rest of the year and in sheets and
some other branches are far behind in
| deliveries, new orders are few, but in.
clude one for 200 cars at Chicago and
one for AGO at Pittsburg, one for an
armOred ship at Chester, many for
small buildings and for st. Vincents
hospital and three school houses here,
many for bridges, with some for the
drainage canal at Chicago, lively de-
mand for hoops, and a large export
business with a quantity of bars for
Asia.
Wooden mills generally have orders
for three months ahead, are not seeking
further engagements. Large sales of
speculative lots of wool at prices not
stated suggest that it may be lower be-
fore the mills need further orders. A
year ago the price began to mount,
with heavy speculation, and has risen
80 per cent, without reaction in QUOTA
tions, while the rise in goods averages
but Ia per cent.
Wheat dropped over 2 cents, but has
since risen as much with heavy buying
for exports Western receipts continue
heavy, in two weeks 4,028, 907 bushels,
against l0,5S1, 1872 last year, while At
lantlc exports, flour included, have been
6,562. 020 bushels. against 1921 ,231 last
year. An English authority reckons
the worlds yield at l61 900, 900 bushels
less than last year, which would mean
market for all this country has to
spare.
Corn exports are again larger than
last year, and the price has risen ia
cents Later prices of meats do not
indicate that farmers have as yet much
lnducement to save corn for feeding.
Failures for the week have been 291
in the United States, against 276 last
year and "A in Canada, against 46 last
year.