The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1899-08-05
BRIGHTER
BUSINESS
PROSPECTS
Continue to Unfold Themselves.
Revolution in Finances not
Unlike That In Industries.
EUROPE SEARCHING FOR WOOL
And Pig Iron in This Country.
Mills Have Work Far Ahead,
Everything is Booming.

NEW YORK. aug. AR. G. Dun 8
Co., in their weekly review Of trade,
will say:
July failures have been smaller than
in any month of which there is record
excepting May and trading failures
smaller than in any other month. Sur
prising contrasts are shown by com-
parison Of small with large failures in
differeut years, and in no class of busl-
ness, without some large failures not
attributable to present influences, does
the aggregate equal the average of the
past six years. London again recog-
nizes the financial power OF this coun-
try. The Bank OF England virtually
admits that 1t can not draw from New
York the gold 1t needs; exchange moves
to the improving point; over 100000
starts from Sydney to San Francisco
London's net buying OF stocks has been
10000 shares, and bills against produce
to bo shipped are very heavy.
Revolution in Finances.
This describes a revolution In finances
not unlike that in Industries, Europe
searchIng for wool here at 90 cents
secured, and for pig iron at $50 per ton.
A vast demand for both materials has
fallen upon the commercial world,
which this country alone appears able
to meet for It's own needs. Wool ship
ments from Australia have been sur
prislngly little below those of last year.
but Europe talks of u wool famine,
while this country has on hand years
consumption or more beside this years
clip, and prices are not yet us high as
they were In February of last year
when stocks were many millions pounds
larger. Chevlots and other goods are
higher. But the average has advanced
slightly less than the price of wool. Cot
ton goods are unchanged In price, with
cotton stlll at 6.12 cents, heavy surplus
stocks rendering crop uncertainties
powerless to effect an advance.
nohIndHtFies
Scarcity of Bessemer pig has caused
two steel works at Pittsburgh to stop
n day or two, and $2l 20 to t2l 75 has
been paid for $4,000 tons, with 81 75 for
grey forge, and a rise of 60 cents In
local coke at Chicago. 1t is no longer
n question whether enough can be had
after a while, the amount is nearly sup
piled. orders for plates and structural
work are refused at most points, mills
having work far ahead and for sheets
also at philadelphia, though new and
large mills make things easier In plates
in Pittsburgh. Bar iron is in great de-
mand instead OF steel, being 50 to 81
cheaper, and new eastern mills get all
the business they want. The mngni-
tude OF the demand in spite OF the high
prices, is everywhere a surprise. Once
more Connellsville eclIpses itself with
only $50 ovens idle. and 1854 tons
coke produced for the week.
Tin was raised by London to break
Ing point, 80 cents here being followed
by si1t. but copper was firm, at lS14
for lake, though the London visible
supply reached 38O2O tons, the largest
since 1887. Lead Was quoted at 4.Oo
cents. orders for boots and shoes are
not so large as they have been and yet
are numerous enough to make a good
aggregate.
Grain Market.
Wheat weakens, yielding one cent
with the astonishing receipts at the
west, 4,7sl,S6s bushels for the week,
against s,19s.543 last year and s,59S,lS9
bushels since June, against iO.5oS'S6
last year. Atlantic exports for the
week, s,7s5.7s7 bushels, -four included,
against s,O2s,73l last year and lg,i2l'a7O
since June, against lO,a54,951 last year,
continue to support hopes Of great for
eIgn demand, with Pacific exports for
the week S55,O2O bushels against Gli'9l6
last year. Not less potent in that re-
gard is the shipment of IOO3,A97 BUSH
els of corn for the week, against 1'7s4'-
3I7 last year, and l5,CSS.Ois bushels since
June against s,52O,SiO last year.
Failures for the week have been lS2