The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1899-06-17
THE TREND
]. OF OF TRADE.
Ono OF the Frequent paradoNes $
is Business That now
Obtains. !
THE RECENT RISE in PRICES.
The Scarcity OF Ironis Rcal.-.Rc.
ported Short Crops Dis.
credited.

NEW YORK. June 16--R. G.. Dun &;
Co.'s Weekly Review Of Trade will say
Tomorrow:
It Is one of the frequent pnradoXes OF
business that the one thing which now
makes prices rise Is the only thing that
clouds the future. They rise In iron and
wheat because scarcity Is feared. but
the scarcity II prolonged and real would
much impair prosperity. In wheat, It
does not seem to be real, nor in iron
lasting. and meanwhile other elements
OF prosperity continue potent. 1t is n
great thing In money markets that ex-
portsSbf gold have caused no apprchen-
sion because recognized as mere bor-
rowings by foreign bankers, the May
return Of foreign commerce showing
exports $4,000, 900 larger than imports, In
spite OF decrease OF flfty-ninc cents in
the export price OF wheat and large
Increase In imports. In eleven months
the excess OF merchandise exports has
Dctll Sfsu,uuV,uVV tilC
mate that $2GO, 900, 600 worth OF securities
have been returned from Europe. with
so few In recent months that the
amount remaining to be dislodsed Is
probably small.
Scarcity of Iron Real.
The scarcity Of Iron Is real, In spite
of the greatest production ever known
In this or any other country. 256,O62 tons
weekly June !. against 25O.095 May /,
for stocks were reduced 70,9O2 tons In
May. indicating consumption Of $780,
S6G tons, against 100000 tons per month
last year, the greatest ever known. Con-
suming demand does not seem to dimin-
ish, and appears greater because 1t falls
upon works crowded for months ahead
with contracts at lower prices. but some
with prospects of. lower prices. With
more furnaces going into blast, ten last
month, production will overtake the de-
mand after q time and the largest buy
ers Of finished products for implements
and car works and railroads are taking
nothing TO cover next years needs. Pig
has been irregularly strong at the east
and at Chicago and unchanged at
Pittsburgh. while the finished products
average 2h per cent higher, plates. bars,
pipe and rails sharing the advance, the
nj TO- rcfr o,,n c1,.
beyond the capacity Of works. Even in
nails, . per cent discount on quick
payments is stopped.
Wool Trade.
Woolens gained little further ad-
vance In clay worsted and indigo blues
with generally strong demand and
works well engaged ahead. But dealers
face the stubborn fact that consumers
accustomed to cheap goods make every
advance difficult, and mills appear to be
buying very little In markets which are
counting largely on Il rise In wool. Sales
mostly between traders. have been In
two weeks 1.2i7,7OO pounds, Including
1858 domestic, but until speculation
haits Will Indicate that held by mills.
Cotton goods have been fully sustained
without advance in price by good de-
mand. The cotton market has not
changed.
Grain Market.
Wheat reports by government seem
to mean just what anybody wants them
to mean, hut tho produce exchange in
OF the June report, 56S,0O0,-
600 bushels. means no greater decrease In
yield than may be beneficial. both TO
growers and consumers With prob
able additions to stock from the last
crop 1t would provide for exports OF
nearly 2o0.OOO.oOo bushels and foreign
though by no means wholly
cheering, scarcely warrant eXpecta-
ton Of demand ns large. The price
has risen three cents. but much pru..
Cence lg shown, for western receipts OF
10. .202,s09 bushels in two weeks against
:, 2,GS4.521 last year discredlt short crop
reports, and foreign exports OF 4.5S2, 2,sl3
bushels, flour included. against S,G55,6Sl
last year do not indicate great needs
abroad. Corn exports are better sus-
taincd than wheat. 5.Sl2.959 bushels in
two weeks, against 1924 Inst year,
and the price has been steady.
Failures for the week have been 1856 in
the United States. against 2S3 last year,
and IS in Canada. against 20 last year.