The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1899-09-23
REACTION
in THE STOCK
MARKET
Is not a Sign of Anything Outside
of the Market..Business Goes
on Booming as Usual.
The DEMAND FOR PRODUCTS
Does not Abate Notwithstanding
the General Rise in Prices..In.
dustries Continue Prosperous.

NEW YORK, Sept. 22.-R. G. Dun &
Co.'s weekly review of trade viii say
tomorrow:
The reaction in the stock market Is
not sign of anything outside of the
market, but has set many to look for
signs OF a reaction elsewhere. Such
signs have been hard to fnd. It has
been for months a wonder that the de-
mand for products was sustained at
rates exceeding past consumption in
any year. notwithstanding the general
rise in prices, but the demand does not
appear to abate. and the rise in prices
continues. A partial explanation is
scarcely any class Of products directly
consumed by individuals has advanced
MS much Us the wages and employment
Of labor. With more hands at work,
more hours and at 10 to 10 per cent
higher wages, the gain in purchasing
power has been quite beyond the rise Of
per cent, in boots and shoes this year,
or s per cent In leather, 81 per cent in
wooden goods, or 1913 per cent In wool,
and even beyond the rise Of II per cent
In cotton goods, mainly due to the rise
of 10 per cent in cotton. But products
used in manufacturing and transport
ing have advanced much more, because
Of the enormous increase in volume OF
business done, and In anticipated busi-
ness for the future. Higher prices
cause shrinking demand, other things
being equal, but this year other things
are not equal.
Grain Market.
Wheat exports fall little below last
years, but in three weeks, -four includ-
ed, have been s.s5e,s77 bushels from At
lantlo ports, against 9,29s, Isl last year,
and 1,O2l, ,29S from Pacific ports against
957 1857 last year. But western receipts
have been 2l,759,s52 bushels. against
23,O29,379 last year, and even more tm-
pressive are the receipts OF 1S,5l5,932
bushels of corn, against 11,177,4S3 last
year, and the exports OF 0,20l, ,427 BUSH
els, against 5,9i3.s66 last year. Prices
moved little either way until Friday.
when a sharp advance made the weeks
gain X. Further government reports
have been so far credited abroad that
cotton has risen to 6,62 cents, but 1t
comes forward more freely than In
years Of maximum crops.
u ,l Iron Trade.
When men pay So to IS per ton more
than the latest quoted price for iron
products in order to get early deliver-
les, 1t is because delay is threatened on
works or railroads or bridges. vessels
or machinery, promising a net profit
many times the cost of small fraction
OF the material, In such circumstances
as in much Of the reconstruction and
expansion now going on, present cost
counts for little compared with the
earning power Of the finished product
in a time like this. Bessemer and an
thracite pig are unchanged, grey forge
at Pittsburgh, and Chicago and South
ern iron are higher, bars 50 per ton
higher. and plates 50 per ton, and rails
81 per ton. Most of the business Is for
next year with premiums paid for more
speedy delivery.
The American woolen Company has
announced that the whole production OF
all Its worsted mills has been sold.
which may give unexpected opportunit-
les for other mills. Its contracts for 9
great quantity OF new machinery indi-
cate q belief that within Its field the
demand for goods will much exceed the
capacity Of its work. Prices have been
firm, with wool somewhat stronger
since the general advance at London
sales, Sales at the three chief markets
were 1S.44S,s0O pounds,
Failures for the week have been 154
in the United Stqtes against 173 last
year and is in Canada, against l6 last