Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1899-06-17

NEW YoRK. June, 16.R. 6. Run
= Co.'S Weekly Review Of Trade VIII
say tomorrow:
It is one Of the frequent paradoxes
of business that the one thing which
now makes prices rise Is the only thing
that clouds the future. They rise in
iron and wheat because scarcity is
feared, but the scarcity If prolonged
and real would much impair prosper
ity. In wheat. it does not seem to be
real, nor in iron lasting. and mean
while other elements of prosperity con-
finue potent. 1t is a great thing in
money markets that exports of gold
have caused no apprehension because
recognized as mere borrowings by for
eign bankers, the May return of for
eign commerce showing exports % ,000,-
600 larger than imports, in spite of a
decrease of 50 cents in the export price
Of wheat and large increase in i'm
ports. In eleven months the excess of
merchandise exports has been 495, 000,-
600 and the bankers estimate that $780,
100000 worth Of securities have been
returned from Europe, with so few in
recent months that the amount remain
Ing to be dislodged is probably small.
The scarcity of iron is real, in spite
of the greatest production ever known
in this or any other country, 256,o62
tons weekly June LIST. against 25O, 095
May 1st Foreign stocks were reduced
70,902 tons in May, indicating a con-
sumption of 1,190,866 tons. against
100000 tons per onth last year, the
greatest ever known. Consuming de-
mand does not seem to diminish. and
appears greater because it falls upon
works crowded for months ahead with
contracts at lower prices, but some OF
it is speculative and would cease with
prospects Of lower prices. With more
furnaces going into blast, ten last
month, production will overtake the
demand after q time and the largest
buyers of fipished products for imple-
ments and car works and railroads are
taking nothing to cover next years
needs. Pig has been irregularly strong
at the east and at Chicago and I'M
changed at Pittsburg, while finished
products average 2lz per cent higher,
plates, bars, pipe and rails sharing the
advance, with demand for structural
forms and sheets beyond the capacity
of works. Even in nails, per cent
discount On quick payments is stopped.
Wooden gained little further advance
in clay worsted and indigo blues, with
generally strong demand and works
we'll engaged ahead. But dealers face
customed to cheap goods make every
advance difficult. and mills appear to
be buying very little in markets which
are counting largely on a rise in wool.
Sales, mostly between traders, have
been in two weeks 1924 700 pounds,
including 1857 800 domestic, but un-
til speculation halts will indicate moth
ing as to consumption, nor is anything
known of the stocks actually held by
mills. Cotton goods have been fully
sustained without advance in price by
good demand. The cotton market has
not changed.
Wheat reports by government seem
to mean just what anybody wants them
to mean. but the Produce Exchange
Interpretation of the June report, $685.
100000 bushels, mean no greater de-
crease in yield than may be beneficial,
both to growers and consumers. With
probable additions to stock from the
last crop. it would provide for exports
Of nearly 2OO,000,000 bushels and for
sgn prospects, though by no means
wholly cheering, scarcely warrant ex-
price has risen three cents. but much
prudence is shown. for western receipts
Of 10,202,S09 bushels in two weeks,
against 2,6S4;521 last year, discredit
snort crop reports, and foreign exports
of 4,582,313 bushels, -four included,
against S,655,694 last year, do not in
dictate great needs abroad.
Corn exports are better sustained
Than wheat, 5,S12,959 bushels in two
weeks, against 1924 last year, and
the price has been steady.
Failures for the week have been 1856
In the United States, against 233 last
year, and Is in Canada, against 20 last
year.