The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1898-06-11
TREND OF TRADE.

TREND OF TRADE.
Late War News Has strsng thened thu Tetio
OF tho NIarkets-The Ind uatries ASe In
Good Shape. 8. Il ! ~
K NEW YORK, June 1o.-R. G. Dun 81
o,'saweekly review OF trade will say.
tomorrow: \
The certainty thot the. Spanish At
.lantic fleet Is imprisoned, and IS power
less to do harm has helped to make the,
tone Of the markets more Confident.
Every step OF progress during the week
which has looked toward an early ter
mination Of the struggle has been re-
:fiected In the. market and in lower rates
for money. All Industries have felttthe,
uplifting influence. In finances the;
growing anxiety to lend on even long
exchange at low rates in place OF ship
.ments of gold to this country. begins
to accumulate a standing credit inl IA
.vor of the United States A stronger;
situation 1t would be dtRcnlt 20 de-
describe. Men have been buying and
selling stocks with some blindness,
though the course OF events has Salt the
time warranted higher MARKET Other
countries have yet 10 pay In some way.
an enormous balance to the United
States on merchandise transactions,
and 1t will save speculators much trou-,
BILE and loss to keep the fact In mind.
q Men talk as II wheat had gone down
out OF sight, but the collapse OF May
speculation has only made It more4evis
! dent that the outside world requires
nearly III not quite all, the wheat this
country can spare. Last week Atlantic
exports, flour Included. were 4,026,23i
bushels. against 1,634.6oe bushels last
year, and Pacific exports We're 252,1i3
bushels, against 123,2l2 bushels last:
year, and 1t Is close to the end of the
season. Over 2l0,0o0oo0 bushels lot
wheat has already been exported and
almost 200,000,000 bushels Of corn, ,t3i-,
500 bushels during the past week,
against 1,7S1.035 bushels last year, and
the market Is justified in feeling that
those who have gone so far beyond all
precedent IN defying current reportsfare
entitled to pay for It. z. 8 NJ sss.se
E Iron and steel production has declined
because several establishments have.
stopped for repairs, vet the weeklysott-i
put June 1,225,397 tons, against 23i,ls3
tons May !, with the untold stocks
which decreased 1919 tons during3the
month, indicate consumption weekly
OF 233S16 tons, against 22s,25S tons In
April, 30 that the ablest Iron Journals
are in error In saying that the apparent
consumption does not keep apnceSwithl
the production OF J, 900, 900 tons month";
". Eastern markets are much more
embarassedas before, while the western
are crowded beyond NIL precedent. But
prices are too changing In either ssec-;
tion. and the prospects for the manu-.
facture Is unsatisfactory, as 1t would
be expected with the prospects.
The wooden manufacturers are buying
no wool. and the sales at the threstchiet'
markets during the past week were
only 2,5i9, 800 pounds, against 4,S7s,750
pounds in 1892. But the demand for;
goods proves somewhat better In many;
hHuh " 40 C-NpCStSltg
government requirements have compellel
ed some manufacturers to buy ssonie-
what largely grades OF wool which they
have not expected to require. The! nuc-
tion sole of carpets, resulting In prices
said to average 50 per cent belowttse
list quotations does not encourag ge buy
Ing, and In carpet wools the market Is
decidedly tame. In cotton goods there
Is a stronger tone Throughout. with
print cloths sustained at the recent ad-,
vance. but the coming crop Is watched
with some anxiety. It is somewhat
doubtful whether the demand for goods
during the past two months has been
mn nterially checked by the expectation
that the price OF cotton. and {conse-,
quently the price OF goods, would ,de.s
cline. and IL SO a marked advance In
prices and Increases In demand ttaay;
be expected. Z NJ Il z; q sSS
Failures for. the week have been k2o3;
In the United States, against 20, last
year. and II In Canada, against 40 last
year. T. 4 3 n