Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1899-11-11
DUN'S REVIEW OF TRADE.

NEW YORK, November 10.-R. G.
Dun & Cos weekly review Of trade to-
morrow will say:
The most noteworthy feature of the
| time is the rise in prices Cotton rose
on Wednesday to 7.81 cents with much
excitement, putting the price 21a cents
| higher than a year ago, and yet it was
still higher in September 1897. Wool
| has risen relatively more about 10 per
/ cent in two weeks and the average of
400 quotations by Coates Brothers is
higher than it has been at any other
time since May, 1898. Pig iron has
risen further, s25 being quoted for
anthracite No. /, the highest price since
January, 1883. Both sides are at the
highest point since January, 1873, hav-
ing risen all the year very little re-
| action. Prices of products have not
| correspondingly advanced. Leather
and boots and shoes were higher in
November, 1895, than they ace now,
cotton goods were higher in January,
| 1896, wooden goods in July, 1894, and
even the products of iron, though
greatly advanced are not as high as
| they were in January, 1890 Such wide
| discrepancies in advance cause much
embarrassment, but are the natural
characteristic of a rise which is mainly
due. not to concerted action in any
trade, but the pressure of a consuming
demand the greatest ever known,
which for the time exceeds supplies,
though very unequally. It's results be-
gin to justify the conservative feeling
which finds expression in many
branches Of business.
The iron industry which has led all
others in the advance, now leads the
way toward a readjustment of values.
While contracts for pig cover the en-
tire product Of the most important
districts for six to nine months in ad-
vance, many Of the consuming works
in some lines approach the end of their
orders, and have new competition to
| meet, so that sheets have fallen 81 per
ton at Pittsburg and So from the high
est point in September and plates are
Sc lower there and SO at Philadelphia.
At the same time bars are 81 per ton
higher both at Philadelphia and Pitts
burg, the demand being enormous and
| at Chicago very heavy contracts have
been made for car and implement
works. A bridge combination is
thought likely to affect future bust
ness in structural shapes which con-
tinues large for the season. A break
in the London market depressed tin
and sales were made at % cents.
Boot and shoe makers are generally
getting about the 10 cents per pair
advance they have held necessary, and
have as large contracts in most lines
as they nov wish to close. in view Of
the uncertainty about materials.
Leather continues very strong and in
that also dealers are not anxious for
greater commitments, but consuming
demand causes large sales in advance
of production.
Wool has been very strong again, though
sales at Boston were but 10, 900 pounds,
| against 21.557,509 the week before, for
large transactions elsewhere raised the
weeks aggregate to 201S1, 500 and buyers
hold firmly for outside prices. Nothing like
the sensational rise of last week has con-
tinued and the buying by manufacturers
is slower, though still large. This and
| accounts of the goods trade indicate that
an extraordinary business is expected for
the next season. The rise in cotton as yet
helps manufacturers whose contracts COW
er production we'll ahead, but the buying
has been mainly by traders and based
largely on expectation of a very low esti-
| mate of yield by the department. While
last years official estimate was not highly
accurate the whole trade here and abroad
then counted on large crop and was
right.
Wheat has not been very active nor
strong. although western receipts have
! much declined. being 4S107 bushels for
the week, against 1924. o45 last year. Ex-
ports are also smaller, the Atlantic 2,563,-
6S7 bushels. flour included against 3, 33s-
500 for the week last year, and Pacific
1,1SS,690 bushels, against 1.016,961 last year.
The decrease in foreign demand may be
aseribed in part to heavy previous exports,
but perhaps still more to the great move
! ment of corn, AS. 1A bushels for the week,
against 2os2, So last year Corn advanced
about as much as wheat fell. though with
prospect of heavy yield
Failures for the week have been Isl in
the United States. against III last year,
and % In Canada. sgainst &c last year.