The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1899-04-22
TREND OF TRADE.

Financing of new Corporations Docs
not Appear to Afrcct Busincss--A
Satisfactory Lull In the Iron Market.
NEW YORK, April ar, G. Dun s;
Co.'S weekly review of trade will say
tomorrow:
Nothing appears In business or in
money markets to prevent continuance
OF the heaviest trade ever transacted
at good profits. The payment to Spain
Is supposed to have caused some rise in
foreign exchange. which would amount
TO nothing in any case as balances due
from other countries more than cover
the payment and advance bills against
crops to come forward in July and later
Will soon be offered. Loans on indus
trlnl securities are still at higher rates
than on railway stocks. but on good
commercial paper or railroad stocks mo-
ney IS ipample supply and Mt low
rates. Nor have stock operations caus-
ed any appearance of pressure. Tho
financing OF new corporations has pass
ed thus far with less trouble than had
been feared. though the completion OF
some organizations is hlndercd or has
failed. The usual time for financial
troubles In the spring has passed and
the usual alarm about crops has done its
work. and still industries are undis-
turbed.
No Cause for Alarm.
The one hIndrance in stock specula-
tion is the crops, but the better unonl-
cal reports have supported differences
warranted by the heavy receipts from
the farms In the west and south. Far
mers do not send wheat or cotton to
market In large quantity when crops
anywhere near them are extensively
spoiled. Wheat receipts have been
T,5ll.3i3 bushels, against B,206,6i3 last
year and In three weeks OF April and
the Improvement since April /, is
worthy OF note. Exports have fallen
on. amounting from both coasts to only
6,T74.7I4 bushels. flour Included in three
weeks ago against 10,910,122 last year.
and the price closed bu, half a cent
higher than last week. Corn Is about
steady In price, with q decrease In ex-
ports natural at this season. Cotton
rose on Monday win the slaughter OF
Liverpoors shorts and closes an eighth
higher.
Lull in Iron Market.
Nothing but Industrial depression Is
left TO excite apprehensions. but the in
dustries are meeting something very
unlike depression. The kind OF lull that
appears In the iron market rejoices
manufacturers, because they are
crowded far. ahead with orders. 1t
means very true that many buyers do
not want to contract far ahead at tho
high prices now asked, and also that
many orders have been for time with
drawn. 1t also means that manufacture
ers so crowded that little new business
can be taken, are anxious TO get nearer
the end of their engagements before fix
Ing prices for the future. Almost MOTH
ing Is done in pig, though southern Is
sold largely at Chicago and Pittsburgh.
Heavy demands for bars to be used in,
car and other works cannot be met at
Chicago. nlate mills there and elsewhere
are refusing orders: contrncts for 5000
TO 10000 tons structural work at Pitts
burSh and some at Chicago are taken,
though many orders are deferred and
sheets are less active because the
works are generally too crowded. The
coke production is still close to the
maximum. London speculation lifted
tin to 25hc In spite of 4,440 tons arrived
here. and copper Is very strong and
scarce at lslEc for lake, with 500 tons
brought baok from Europe, though the
United States production was only
2l.9lS tons in March.
Wool Selling Freely.
Men who have held wool s:ftly for
more than n year are selling freely ut
bottom prices. admittedly the lowest OF
the year. Sales at the three chief mar
kets In two weeks have been %, oOI. .2S5
pounds. OF which 1881, ,5S5 were domes-
tic. against 15.906.100 pounds in 1892.
Territory wool, 100000 pounds was sold
for export to England. and 1,25l00O
Australian in bond. which has been
held here fifteen months, fine wool be-
Ing very high there. while cross-bred Is
50 low that It can now be imported.
With assurance OF better prospects for
goods woolen manufacturers ore watt
Ing for the effects Of various combina-
tioHs. The demand is not at present
especially large and considerable r1l-
chinery Is idle.
Failures for the week have been 1S4 in
the United States. against 2O4 last year,
and % In Canada, against % last year.