Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1898-02-12
DUN'S REVIEW OF TRADE.

New YORK, FEBRUARY HIT. ". Dun
& Co.'S weekly review OF trade Will say
in its issue tomorrow:
Business is pushing toward spring
activity early Events which have
controlled are good buying of iron by
the largest makers, the rise i'm cotton
with strength in goods, the great raul
way consolidation and the Cuban i'll
snrrection. The latter, with its pcs
sibilities, operates as brake onaspecu-
lation, and foolishness of local traders
gave foreigners a much desired oppcr-
tunity to buy stocks on balance, about
5000 shares. January earnings, $3o,-
017,417 already reported, are 1866 per
cent. better than last year and 80 bet
ter than in 1892, showing the best
month in six years at least, and Febru-
airy returns thus far are promising
The output Of pig iron February !,
was 229,S 1913 tons weekly, the largest
in the history of the business, put
the reported buying of 10000 tons OF
Bessemer iron by the Carnegie COM
pany and 100000 by another OF the
largest steel concerns, nevertheless
means decision by the ablest manufac-
turers that the unprecedented output or
pig will soon prove too small 'for the
growing demand for finished products.
The Illinois Steel Company has con-
tracted for a million tons Bessem@r
ore, and producers of other ranges
count upon an advance in price. BeS-
semer pig rose to S10.l5 and Grey Forge
to 50 at Pittsburg, with finished pro-
ducts generally stronger and in larger
demand than ever at this season. Ran
contracts already cover, 1t is sad,
more than last years production, the
railways buying earlies than usual.
Bar contracts for cars, wagons, asrl-
cultural implements and other manu-
features are heavy at the West, Struc-
tural contracts are very numerous and
at the East large, with $4,000 tons esti-
mated for New York buildings alone
this year, while plate and sheet con-
tracts for the season are unprecedent-
ed.
January was one of the biggest
months in the Connelsville coke out
put, 623975 tons, and furnace continu
ed at the same price. Tin rose to IA
cents in spite of heavy shipments, and
copper to IL cents on better for lake
in spite Of enormous American produc-
ton.
Wool sales at the chief cities were
only 1903 200 pounds for the week and
II .664. SEQ for two weeks against 22,-
721 500 last year. Prices are still
strong in spite Of the general indiffer-
ence of manufacturers, VINO seem to
have secured ample supplies. For the
better grades Of wooden goods an adj
vance ayering 17.5 per cent from last
year is readily maintained. The open
ing of works idle for years in spite of
the heavy production already assured
is a striking feature in this as in the
iron and other industries and implies
heavier demands for products than are
now met by the unprecedented output.
Wheat has been strong with spot adj
yancing two cents and May "a cents,
though western receipts have been for
two weeks 1856, 71S bushels, against
3.317,S95 last year, but Atlantic eX-
ports have been 5.274,43S bushels, flour
included, against 4G26 500 in two weeks
last year, with Pacific exports large.
Corn exports are also surprisingly well
sustained, 1854 1852 bushels against T.
S23, S65 last year, and the price has adj
yanced a trifie. 1t is yet too early for
prospects of a coming crop to influence
markets materially, and heavy opera
lions at Chicago, with reported sales
Of a million bushels for export Thurs
day. have deferred speculative selling.
Business shown by bank clearings IS
again larger than ever before, o4.7 per
per cent larger than last year for week
and for the month to date, 44.3 per cent
larger than last year and $50 per cent
larger than in 1892.
Failures for the week have been 295
in the United States, against 267 last
year and 43 in Canada, against 81 last
year.