Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1898-08-22
THE STATE OF TRADE.


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Perhaps the most interesting feature
of the general business situation at pres
ent is the air of confidence with when
the mercantile community awaits tne APP
proach of the fall trade period. Nhile, 81
course based in some degree upon favor
able results already achieved IN many
lines, 1t is unnuesuonably true that the
fattering crop outlook at home ana the
return of peace. with the expectation OF
benefits to our export trade naturally eX-
pected to accrue therefrom, make Tor
much of the feeling thus expressed. Re-
Elections of the growth OF tall trace IS
found in the steady expansion now SolIs
on in bank clearings, the improving Ge-
mand at higher prices for mos makes OF
iron and steel, and generally favorable
railway earnings. which IN defaui OF z
large movement Of crops, point to a large
return trade In manufactured goods 10
the agricultural sections and the report
of continued activity in distrbutive trade
west and south. with signs Of moderate
increase in interest at leading eastern
markets, which hitherto have not shared
largely in the trade improvement. The
immense business doing in iron and steel
products, at advanced prices, calls atten-
ton to the prOportionately less notable
expansion of crude iron production. Pig
iron statistics, in fact point TO even
smaller output for the current month,
some of which curtailment, of course, j.
naturally based upon midsummer condl-
tiOns. Advances in many grades OF iron
notably Bessemer and southern pig, are
Il.
quotations for steel bllets at nearly all
markets wire rods and great many
classes of finished iron am steel, partic-
ularly structural material. Advances in
copper on the strong statistical position,
and lead are also among interesting fea-
lures in the metal trades. At the west
iron and steel is particularly active, and
the large number or orders already book
ed make manufacturers fairly independ-
ent regarding prices and favor an advance
on future business The situation in GER
calls shows but little change. The ba lance
established between phenOmSnaily reduced
visible supplies, active milling demand at
home. and fair export inquiry on the one
hand and the very promising crop outlook
on the other hand. tends TO steadiness in
prices, and other cereals SNmpathiZe with
wheat Large supplies of raw cotton at
home and abroad. and the production Of
a yield this year nearly equal TO If not
exceeding that grown year ago, while
naturally stimulating To business at the
south. has a depressing effect upon the
price of the raw staple, and quotations
are a fraction lower for the week and ?
cents lower than a year ago at this time.
Reports as to collections the country over
are very encouraging. From winter
wheat sections especially reports are very
good. Some slowEess Is noted in pay
ments at the northwest but this is ex-
pected to disappear when the spring
wheat crop moves.
Buyers are appearing in increased num-
bers at leading western markets Chicago
reports increased activity in distrihutive
trade on country demand. with dry goods
shipments especially large. Sales of iron
- steel are restricted by inability to de-
liver.
..,siness failures are larger in number
than last week, aggregating 1e5. against
l57 last week. but compare with 221 in this
week a wear ago. 264 In 1895, 192 in 1895 and
Isl in 1894. Bank clearings for the week
aggregate S1.273, los. go gain of per cent
GHer last week, of II per cent over this
week a year ago. of Sc per cent over the
CORRESPONDING week in 1896 Il per cent
over 1895. ard of "A per cent over 1885
while the gain over 1891 and ISa2 years of
large business. is in the neighborhood OF
IS per cent.