The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1899-12-23
NO SUSPICION
OF UNSOUNDUERS
in INDUSTRY
Or Trade Is Evidenced by R, g, Dun
& Co.'s Weekly Review Of
Trade, and
HIGH PRICES FOR ALL IRONS
Are wonderfully Sustained -FailuEeD
For the Week s9O, Against
e5s Last Year.

NEW YORK. Dec. 22.-R. G. Dun &
Co.'s weekly review OF trade will say
in to-morrow's issue:
The worst day in Wall street for
years was in part the legitimate result
OF the best year in business ever known.
Because tho country had prospcred so
greatly and had so expanded its busl-
ness. 1t could no longer afford to have
many millions locked up In carrying
stocks representing imaginary values.
The question was not one OF monetary
supply. When the country found am-
ply use for it's capital In regular trade
and productive industry, contraction
OF loans became necessary which would
only have been more painful II tho vol
ume Of the stocks carried had been
larger Reckoning from the highest
general average last spring, industrial
stocks had fallen Mt the close on Mon-
day 1927 per cent. street railroad stocks
$3.50 per cent, and other railroad and
telegraph etocks only go per cent.
The business of the country close to
the holidays is necessarily smaller than
1t has been, and yet larger than ut the
same date in any other year. Bx-
changes through principal clearing
houses for the week have been 33.7 per
cent larger than last year and bO.t per
cent larger than in 1892, including S21
per cent gain in payments outside New
York. There is not even a suspicion OF
unsoundnesR In any considerable
branch of industry or trade, the extra
ordinary expansion in some being as
well warranted as the material gain in
others.
Cotton suffered in speculation for
day, with stocks. but the great decrease
in receipts from farms since septcm-
ber, over 100000 bales. gives strong
support to prices, as does the inerense
of 100000 bales in taklngs by splnners,
The demand for goods is quiet, md tho
price holds steady.
Wool salcs have dropped sharply with
monetary pressure, but prices do not
change, and the opening of heavy
weight goods retards at present pur-
chases for mills.
Yielding appears at last in hides at
Chicago, in most kinds of country about
IL Of cent, with evidence that recent
advances could. not be sustained.
Leather has been steady for hemlocs
and other sole, but In satin, grain and
kid the demand has fallen OF suddenly.
High prices for iron are wonderfully
sustained. though many works will
close for stock taking and the holidRys,
While the furnaces do not stop pig
shows no weakness. Prices on finished
products change little, though moro
concerns have reached the point Of COM
petIng for new orders, and there is some
weakness in sheets because many tim
plate mills are to be closed soon at the
east, and In plates not of the largest
size competition is sharp; but in bars
the demand is somewhat improved and
thus structural works have continued
their combination for another year
without change in prices,
There has been less violent huctua-
tion in the London market for tin, but
the closing price here is slightly lower
at 24Hc. Copper declined little in spite
Of weak stocks at Boston. while lead Is
scarce and frmer at 1855 cents.
Wheat has fallen both in foreign de-
mand and in prices, in spite of still
greater loss in western receipts, for the
week only s,sOs,2Ss bushels against q
3sO,17O last year. Atlantic exports, -four
included, have been in three weeks only
e,Ssl, ,43s bushels, against 15.4l5,sSs bush
els last year. The price rose quickly
on Monday. when other things were
falling, but subsequently reacted and
closed nc lower. Corn exports are still
well maintained for the week, S,72s,17s
bushels against 3s2t,s3s last year.
though western receipts have fallen OIL,
being only 9,4O4.sGS bushels In three
weeks. against 1S,47O.5s7 hast year.
Failures for the week have been 22o
in the United States against 25s last
year, and &c in Canada against 81 last