The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1899-04-15
LEGITIMATE
INCREASE
I'm BUSINESS
And Productive Power of the LII.
dustries Increases Though
the Stocks Decline.
REACTION IN SPECULATION
REACTION IN SPECULATION
A Week ago in no Way Affects
the Producing Capacity Of
Furnaces or Mills.
CLEARING HOUSE PAYMENTS
Exceed all Other Years 80 The
Cotton Industry Booming.
Big Wool Purchases.

NEW YORK, April 14.-R. G.. Dun 6
Co.'s weekly review of trade Will say
Saturday, April 15:
There Is still increase in all legitimate
business and the productive power OF
great Industries increases, even though
some OF their stocks decline. The sharp
reaction in speculation q week ago in
no way affected the producing capacity
Of furnaces or mills, and has been in
part recovered while the disturbance of
business caused by the formation Of
great combinations has In large meas
ure ceased. The money market Is in
safer and more wholesome condition
and in spite Of four heavy payments by
large syndicates amounting to about
s50,OOo,O0O, has grown easier. The only
stringency hns been in call loans.
Not Owing to Speculation.
1t IS not owing to speculation alone
that payments through the chief clear
Ing houses have been so per cent larger
than In the same week in 1892, and 1888
per cent larger than last year. New
York transactions far exceed those OF
any previous week, s1,46S,6o2,709 in
amount. but outside New York the
ciearfngs were 4i.5 per cent larger than
in 1898 and 44,6 per cent larger than in
1892. The truth is that no such expan-
sion in the general business Of the
country has ever been seen before, and
IL such records only were considered
there would be ground for fear that Il
wild passion Of trading had again lifted
the whole business community off its
feet. But instead there Is found sur
prlsing increase In tho chief industries.
Naming first some Of which only re-
turns Of raw materials imported give
definite indications, raw silk imports in
creased 81 per cent for eight months OF
the fiscal year over last, hides 40 per
cent. India rubber 26. tin u and Abres 10
per cent.
Iron and Steel Industries.
The output of pig iron April 1st was
PAS, TAG tons weekly against 2eS, ,195 March
1st, with 115,11S tons decrease in stocks
sold and 16,6o0 in warrant stocks, indi-
eating consumption in manufacture
OF 1,056,0l3 tons in March. The haste
Of forty other furnaces to get into oper-
atilon with their possible output of S0.-
900 tons more weekly has helped to keep
prices of pig quite steady, although
strong. but the demand for finished pro-
ducts Is far from satisfied. The Mary
land Steel Company has orders for 49,
900 tons steel rails for the Chinese East
ern. Plates have sold at 81 10 for shear
ed at Pittsburgh. but the leading mills
there and mills elsewhere are crowded
for months and many will not quote at
all. Large contracts were closed in
works, one for 5000 tons, just
before the advance In prices. but Chi
cago orders this week cover 5000 tons
bridge work and everywhere there is
much business in sight. Bar and sheet
mills are hindered by prospects of con-
but the few orders for bars
are taken just now at the west, the
market is more steady.
Steel bars rise So per ton at Pittsburgh
and the heavy demand for sheets makes
prices very irregular with many orders
Other Industries.
The Connellsvile coke product, 1T9,163
tons for the week, surpasses all records
and prices are steady as before quoted.
Lake copper Is strong ut 1Skc and
scarce, and tin went up sufficiently with
London declining only to 25,sc. In
spite Of som0 strikes because wages
were not raised as much as hands ex-
pccted. the cotton Industry has very
good demand and most OF the mills are
working satisfactorily. 4 southern
of fine goods makers Is
proposed, like that Of Fall River mills
which has kept prices steady OF late.
Woolen mills have begun TO buy wool
more largely though at prices much Of
heir own making. but there is improv-
ng demand for goods with light weight
purchases continuing surprisingly for
The season. Sales Of wool at the three
have been l6.792,O0o pounds in
.wo weeks against s.3S5.999 last year.
Wheat advanced about 4 cent. ac-
counts Of injury discovered since April
st supplementlng the government re-
port. Were the worst OF the stories
rue there Is yet spring wheat seeding
o make up for deficiencies. though the
eason is getting rather late. Cora is 4
shade stronger.
Failures for the week have been ISIS
n the United States against 254 last
'ear and % In Canada against IS last
ear.
"nofDrp far TN.lny.