The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1898-02-19
TREND OF TRADE.
Maine Disaster Only Slightly Affect, Bns-
= tness-yyhcnt Advances nnd Exports
4 sContinne ticavy-Iron and Steel Indus-

rtry.i
NEW YORK, Feb. 1s.-R. C. Dun 6
Co.'S weekly review. OF trade: s.,
The dreadful disaster to the Maine,
much as 1t has affected all hearts. has
not much affected business. Only In the
stock market. where there was selling
Wednesday on thin margins, but In no
other speculative market was an effect
felt. nor in general business. An adj
vance of 10 per cent in wages by some
Gogebic mines Is expected to be gen.
eral throughout the lake region. except
Ing the Mesaba district, and prices OF
ore from the other ranges this year
have been advanced Is per cent with an
allotment of six million tons outside
the Carnegie nines, which betokens an
output much the largest ever known.
Wheat has risen 3Hc, and exports con-
tinue so heavy that a material advance
is natural Atlantic exports in three
weeks have been S,il6. .495 bushels, flour
included, against 5,G6l,971 last year. and
Pacific exports have been 2,4I6,6522.
against 1.474,7S2 last year. Such ship
ments, with heavy engagements for the
future, in spite OF II. 1.430S3l bushels OF
corn exported. against 12,50T,2l4 bushels
in the same weeks last year, are con-
elusive proof OF the urgency OF foreign
needs. Wheat receipts hold up well,
though not exceeding last year as much
as exports In three Weeks. T,775,5Go BUSH
els, against 4.SS4,I40 last year. The bot
tom fact Is that the world needs wheat,
which this country can only supply for
yabout six months 10 come. Cotton has
jheld unchanged for spot. though a little
slower for options. prospects of decrease
lin the next yield being the main sup
port.
The iron output February /, with re-
ports OF stock OH hand not held by the
great steel companies. indicates n con-
sumption Of at least 5000 tons per week
greater In January than in the previous
maximum attained, In November. 1895.
The production Is at present greater
than the consumption. stocks having In
creased 9.016 tons weekly in January
outside the steel companies, whose
stocks presumably decreased. Some
weakness In pig iron would naturally
result, but while grey forge has de-
clined at Pittsburgh TO IS 80. with
southern Iron offered at Chicago at con-
cesslonS, no changes appear In products.
Though new business has been some
what disappointing. the works are
mainly supplied for months ahead. In
building OF steel cars. In black sheets
for timing. in rods, wire and wire nails.
increased demand and heavy business
appear, though bar ana pipe are weaker
and structural orders seasonably slow.
Minor metals have advanced. Tin to Il. 20
cents on considerable consuming de-
niand. copper. to 1fii cents for lake on
heavy exports. and lead TO 3.S cents and
spelter to 4.10 cents on speculation, but
failure to organize the tin pool causes
weakness. American selling for IS and
lower at the west.
In the cotton manufacture production
Is restricted by strikes. and some grades
nre n shade dearer. The recent opening
OF higher grade woolens at advanced
prices meets less demand than was ex-
pected, with less activity In lower
grades and unexpectedly numerous
cancellations in light weights, lndica-
ting larger buying than consumption
has Yet warranted.
Failures for the week have been oc95
In the United States, against S0S last
year, and 35 In Canada. against IS last
ypar. tEiaf RE S.s .Fas4- : -f1.s. .-gI b .r5