The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1899-01-14
The OLD STORY. !.
Business is stillfhoomins and the
Country is Prospcring-Ncw York is
Now Financing Europe.

Business is stillfBooming and the
Country is Prospcring-NcwY York is
Now Financing Europe.
NEW YORK, Jan. 13.-R., G.. Dun s;
Co.'S weekly review OF trade will say
tomorrow. 81 ] II
Contrary to the French 3aylng, the
expected has occurred. Rapid adj
lvances In prices of iron and steel pro-
ducts have had their immediate effect,
perhaps not to the lasting benefit OF
the country. for there Is the SAME req
son for doubt rs to It's pcrmanence. MS
In 1895. when shrlnkage Of buying and
reaction soon carried prices down low
cr than before But there Is now lar
ger demand for many other products,
and without unwteidy combinations all
are doing well. The country was never
In us strong "a financial position as
even governors ofIondon banks ad-
nit, one stating that as London has
financed America heretofore, nov, for
the first time, New York Is financing
Europe. No evidence of weakness Is
seen In the other branches OF Industry.
Wheat and cotton stili go otit largely.
Europe is buying because 1t has needs
and New York is lending to Europe no.
body knows how many millions because
there Is for the present no need to cali
loans. The receipts'of $500. 900 In gold
from Australia Is announced from San
Francisco.
s Americans are in the humor to invest
In their own country, having q great
amount OF. money to put out without
recalling any Of their loans TO Europe,
Sojtliat the heaviest traRsa ctions ever
known In the stock exchange, have oc-
Cured during the week without the ev-
!dence OF reaction for which many
strong operators have been looking.
III products also the position OF the
country grows stronger Last years
exports OF wheat and corn were far be-
yond all presidents, but the past week
has seen exports Of 4,237. GSs bushels Of
wheat and flour included, against 1916
40 bushels last year. wa
Neither Is there evidences Of weakness
In the great Industries. The output OF
pig iron January WIS 2i3,5l6 tons.
against 235,52S ions December /, show
ing product Of about 5000 tons week.
~ more than has been estimated, with
n further decrease of 37,4i9 tons in
stocks unsold during December, But
while the Australian order for 30 600
tons is still on the market. with an
other European order for 5000 tons Of
plates, the mills are so crowded that
prices are moving up rapidly. Besse-
rner pig iron Is only l0c higher at Pitts
burgh and grey forge 15c. but plates
advanced 10c. angles &c and cut and
wire nails have been advanced 10c by
the combination. Minor metals d nre
also stronger. tin having rlsep rluS sym.
pathy with London 10 &c and copper
10 13.G2c and lead TO &c, heavy constim-
ing demand helping in each case, Willis
the new combination In tin plates has
advanced the price TO 50 per. box at the
works. There have also been large
demands for structural work. 10000
tons in bridges and buIldingssat Chit
cage.
Wool is stiGly held in the West.
although ut Boston, Ohio XE is quoted
at 26hc, although much higher at Phil
adetphia. The wooden Industry has
been hampercd beyond alt expectations
by the prices demanded for wool, with
the extraordinary stocks yet unsuld.
Failures for the week have been 3lS
In the United States. against $40 last
year. and "a In Canada against As last
year. .tf ----.,..,r