Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1899-01-21
DUN'S REVIEW OF TRADE.

-
NEW YORK. January 2o.-R G.. Dun &
Co.'S weekly review of trade Will say to-
morrow:
A new year rarely opens brilliantly.
Too many traders have to wait for the de-
mand, which in winter comes slowly. The
industries resist fairly well the tendency
to unlimited expansion which some have
to meet. Speculation in products is gain
ing but little, while stocks on
volume of business results in continually
higher prices. The volume of payments
through the clearing houses is extraordi-
nary, All per cent. larger h last year,
$50 per cent. larger than in 1897, and So
per rent. larger than in 1852, even the
| transactions outside of New York show
ing a gain over 1882 of 44.G per cent. Spec
! ulatlon at New York therefore cannot be
the mani >cause of gain. Difficulties be-
tween holders of material and manufac-
turers continue to hinder in some indus
tries and in some may prove seriously
embarrassing, but the activity is on the
whole unsurpassed hitherto, and the vol
ume Of traffic is beyond all ,expectation.
In some branches consumption is run
ming beyond the producing capacity. but
in others it is hindered by doubts about
the future supplies and prices Of Nmater-
ials. =
The wooden manufacture is still wa Fg
with only a moderate demand for goods
as yet. The production is large and conf
siderably larger than in recent years, bue
does not nearly approach the capacity of
the mills. Sales of woods for the past
three weeks at the three chief centers of
the eastern market have been 16, 1856
lbs, against 22,322,9,0 lbs. last year, and
prices of domestic dceces are lower, with
present demand running largely to quar-
ter and holf-blood and Australian cross
bred. But there is not enough change in
material or in demand for goods to en-
courage heavy buying by manufacturers
as vet.
The cotton manufacture has a large de-
mand for goods, but raw cotton has SO
rapidly advanced that possible buyers APP
prehend a fall, and there is hesitation in
the purchase Of staples. With receipts of
cotton far ahead Of last years from the
greatest crop ever raised, there is
now apprehension that good qualities may
fall short before the year closes. Much
cotton remains in the fields yet unpicked
on account Of bad weather, and is deter
iorating in quality. The silk manufacture
knowing many threats Of interference and
disputes about duties, seems to be making
steady progress.
The iron and steel manufacture leads all
others in the volume of new business.
While production is much the largest ever
known, many of the works are withdraw
ing all quotations or naming prohibitory
prices, in order to check orders, which
they cannot ill for months to come and do
not want to accept at current prices. The
number Of such works is rapidly increas-
ing as the heavy demand for material Gov
ers many months capacity. Bessemer
pig is a shade higher at 1890, with sales
Of 15.d9g tons at P~ittsburg, and there is
something like a famine in grey forge,
with sales at $50, although one sale at
1886 in the valley is reported. While fin
ished products are in very great demand,
especially for car building and special
works at the west, the week shows no
advance in prices, excepting zoe. per ton
in steel rails at the east.
These conditions favor continuance Of
the extraordinary foreign trade, which
resulted in the greatest balance in favor