Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1899-05-13
DUN'S REVIEW or TRADE.

New York, May 12.-R. g. Dun &
Co.'S Weekly Review of Trade will say.
To speak truly of business this week
one must free the mind of stocks. For
severe decline in manufacturing
stocks has created an impression that
it has some relation to productive in
dustry but it has none. There was no
change in the money market worth
mentioning and the volume of business
shown by payments through the prin-
cipal clearing houses was 7l.5 per cent
larger than in 1892, the year of great
est prosperity hitherto which is more
than doubie the gain anybody consiG-
cred possible year ago.
Never before reaching quarter of
million tons per week the iron manu-
facture reports, May first, an output OF
250,O95 tons weekly, which with ga, 453
decrease in warrant and furnace stocks
indicates consumption Of 1882 tons
daily, against 37,035 in March, 1851
IN February and 36,S34 in January. The
average for four months is 37,027 tons
daily, against 1920 last year. An in
crease OF LIZ per cent in the year would
be less interesting if consumption
year ago were not far beyond anything
previously realized. Yet proposed cOm-
Dlnatlcns hinder large orders in bars
and sheets, while the structural busi-
ness is as heavy as ever in small lois
with big contracts about to come at
Chicago for the drainage canal, and the
plate business too big for all the works
10 handle, invites no consolidation,
Chicago and Philadelphia works beng
Dehlnd in deliveries and Pittsburg
works trouble by demands for 1900
tons CT vessel plates, and 1900 more
close ahead for the government docks
at Algiers. Only pig iron advanced,
bessemer 80 cents and grey force Is
cents, at Pittsburg, and local pig so
cents at Chicago. In minor metals tin
declined with London to 25.3 cents ana
copper is weaker at 10 cents for spot
and 1872 for futures.
Greater than in any previous year by
81 per cent, the actual shipments Of
boots and shoes from the east reflects
heavy business with a general ad-
vance in prices. Hides at Chicago rise
about per cent with actual receipts Of
cattle in four months 100000 head less
than last year and over 100000 smaller
than III 1885 4, notwithstanding the
gain in population. Co4ton is a shade
stronger at 6.25 cents with government
and other evidence that the reports Of
the decrease in acreage have been
somewhat exaggerated. Mills are we'll
employed throughout and a single sale
OF over million pieces CT print ciotns
gives great assurance to the market
Nobody VINO has studied statistics
can tell why purchases of million
pounds Australian wool in bond for
export this week following others in
previous weeks should advance prices
of wool, nor were purchases of o,000,-
Geo pounds territory wool by specu-
lator readily explainable But 1t is
just the time for growers to ask all
they can hope to get, and just when
the largest manufacturers were ready
to buy only the smaller are buying.
Prices are said to have been generally
advanced with higher demands from
the interior holders. But it remains a
! question whether sales CT 10,499 900
pounds for the week against 5,9e9,550
in 1892 and only little more in 1897,
will prove profitable. The market for
wooden goods is waiting for evidences
OF demand which do not yet appear,
and the delay in getting the new COM
bination in working order causes some
uSSildllUu.
If government estimates were consid-
cred reliable, one based on entirely I'M
known acreage Of wheat and cotton
would be everywhere resented. Thus,
wit hoficial returns pointing to a great
decrease in winter wheat production,
the price dropped enc cent and cotton
declined for options, though retaining
the advance of a sixteenth for spot
which was established before the gov
eminent report appeared Nobody can
base sensible estimate on a statement
OF condition which takes no account
OF the acreage of winter wheat killed
and abandoned. The bes1,that can be
said is that worse returns were expect
ed in both markets, SO that the govern
ment report had practically no infiu-
ence.
Failures for the week have been 1e5
in the United States against 246 last
year, and 20 in Canada against "a last
year.