The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1898-02-05
BUSINESS AFFAIRS.
Payments Through Clearing
Houses Make Good Showing.
LARGER THAN OTHER MONTHS.


NEW YORK, Feb. i,-R. G. Dun 4
Co. III their weekly rerlew OF trade,
VIII say In Its Issue OF tomorrow.
Actual payments through cenrins
houses In January made remarkable
showing, being much larger than in any
previous month, 80 per cent larger than
the same month last year. ana IL per
cent larger than In 1892. The failures In
january were smaller than In amy pre-
irlous year OF which there is record AMI
were probably smaller than In any 9TH
or January since 1881. The statement by
branches OF business given this week,
shows n surprising gain In most depart
ments OF manufacture and trade. Mean
while the money market Is as confident
as ever, gold does not come from Eu-
rope In large amount only because ban
kcrs find II worth while 10 lend Ameri-
can money abroad and the commercial
balances are heavily In favor OF the
United States as heretofore.
Perhaps the most striking feature OF
the week has been the decline in wheat.
With exports OF 3,o9i,517 bushels, against
l.7I0.j54 last year, -four included from
Atlantic ports, and 716,S40 from Pacific
ports, against S44,ai3 bushels last year,
the temper of the market has been
weaker. The report OF the agricultural
department has had some influence, al
though Its figures are not generallv
credited as reliable. The wheat market
has turned largely upon the operation
OF Il Chicago speculator, but the fact
remains that the price depends largely
upon foreign needs and the comparative
scarcity OF American supply. Tho outgo
OF corn continues heavy, 3.79S,7s6 bush.
els against 3.343.400 for the same week
last year. and the excess over last year.
when exports were much the greatest
ever known, indicates very heavy for
eign demand. The spot price OF cotton
remains unchanged. but the fact that
receipts continue larger than during the
same week Of 1895, after the heaviest
crop ever known. checks speculative
operations for advance.
The iron and steel manufacture Ia
steadily gaining in consumption OF pig
iron, although the production OF the ma
tcrlal is still In excess OF immediate de-
mands. but not enough to cause n de-
cline in prices In Pittsburgh or Chica-
go. Even the southern producers a.e
able TO get fair price at Chicago and
at the east. and anthracite pig is un-
changed. The demand for finished
nrntlbHfs hp hnnp at,s.n n,,I l,,
cludes for structural work 5000 tons for
the state capital building in Pennsylva-
MIA: 1000 tons for the court house at
Denver: 5000 tons for elevated railways
at Chicago. and numerous small build
ings in various parts Of the country.
The demand for car building has been
very heavy, both at the east and we1t.
and the plate demand greatly increased
at the east on account Of orders from
ship yards. For plates. the demand
from tin plate works has been very ac-
tive. The prospect OF a combination OF
wire manufacturers has stimulated the
demand and raised the price for wire
rods. or Connellsville coke. 1900 ov-
ems ore in blast. with an output OF l55,-
900 tons weekly. and the quoted price Is
81 80 for furnace. Tin Is quiet and
steady at 1885 cents. with n visible
supply February !, OF 81 .120 tons against
1889 year ago. Exports OF copper In
January were about l0,225 tons, against
9.oGG last year and the price is held at
eleven cents FOR lake.
There is better demand for cotton
goods. since the general stoppage OF
works in the east, but there Is no In
dication as yet OF material gain as re-
spects unsold stocks on hand. In WOOL
en- goods the demand is altogether more
satisfactory, an advance of about 20
per cent being paid on most grades OF
the finer woolens and worstcds and .
nearly all the mills are active. The
sales OF wool at the three chief markets.
were 6.3Gl400 pounds. Of which 3.973OOD
were domestic against 1S,563.700 last
year, of which S,493.460 were domestic.
Failures for the week were 335 In the
United States, against 3l1 last year,and
20 in Clnntio nrntpSt 40 Iaef yaa~