The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1899-03-18
THE VOLUME OF BUSINESS
In all Branches the Greatest Ever
Yet Known
WITHOUTNEW YORK CLEARlNGS
What the National Prosperity Rests
Upon Exports of Manufactures
and Merchandise Continue in Favor
ofthe United statcs-swiftly Rising
Quotations In Iron and its Products.
Tho Wheat and Corn Market Tho
Outgo of Grains Continues Largo.

NEW YORK, March 17.--R. G. Dun &
Co.'s weekly review OF trade will say
Tomorrow:
In business this year cannot be COM
pared with any other. 1t can be said
that payments through tho principal
clearing houses for the past week havo
been GA per cent greater than in '92
and 45.9 per cent greater than 1898. but
that exaggerates the gain in some
branches Of business. while in others It
falls far short OF the gain. Thus the
February exports Of manufactured pro-
ducts have about doubled since 1892.
Om!tting New York clearings. where
speculation in stocks is most active,
payments through the other principal
clearing houses for the same week show
increases Of 37.6 per cent over 1892. and
I'll per cent over last year. But with
out regard to such details all realize
that the volume Of business In all
branches IS the greatest ever known
What Prosperity Rests Upon.
The national prosperity rests on more
solid foundations. The exports Of
breadstufIs, provisions, cotton and oil
in February showed decrease Of &c.
100000, but other exports, mainly manu-
factured, were $36,43G,943 in value
against $3l,275,S96 last year. and were
Sufficiently large to cover sixty per cent
Of the entire imports. The merchandise
exports exceeds imports for the month
sS3,624, III. the gold supply increasing.
and there appears no occasion for none
tary disturbance. The treasury record
cd It's fret. payment of the s59,OOO,ooo.
Central Pacific railroad, having previ-
ously received s59. 900. 900 for the Union
Pacific and over s6OOO,O0O for the Kan,
sns Pacific. .ig,-
Iron and Steel Industry.
Swiftly rising quotations for iron and
its products would mIslead if it were
not kept in mind that more than nine
tenths Of the iron manufacturing capa-
city is engaged, and will be until July
or later, In the execution of orders
taken months ago at low prices. If q
million tons OF products so out this
month, 100000 at such prices as $40 to
$40 for steel rails. at which the entire
output on the Illinois Steel Company for
this year was sold some time ago, it
hardly indicates the true character OF
the iron business that less than 100000
tons are going out at such prices as SIG
to SIS per ton for steel rails made hero
for small lots this week. Belatcd buy
ers now have to pay fancy prices to get
orders accepted ut all. Withal or post
ponement of business because OF high
prices begins to be q significant feature.
and much foreign business Is evidently
lost, though there are small sales for
export, $500 tons Of pipe for South
America and 5000 tons bridge material
for Burmah.
The Connellsville coke works. with On
output of 1920 tons weekly and many
operating Sundays to catch up with or
ders. have advanced prices only 15c.
Wool and Cotton.
Wool sales at the three chief markets
have been only 1906. GOO pounds,of which
2.761. 900 were domestic, against 5.o1S.2oo
in the same week of 1892, Of which a.
$4,000 were domestic; but prices aro
soft. and some dealers are said to have
yielded Us much as two to three cents
per pound clean. because nobody can
guess what effect the new combinations
may have. Prices are largely nominal
and yet there is somewhat better de-
mand for goods. Nor has the strong
demand for cotton goods been helped by
the weaker market for cotton. which
has fallen to est cents in spite Of vol
umc OF reports about the bad condition
OF the late picked product. The price OF
goods has been strongly advanced. and
Is held, but yet depends on the price Of
cotton.
Wheat and Corn.
The market which has lost most Is
that which has least statistical reason
to lose, because no estimate OF wheat
in farmers hands March l would pro-
vide more than about last years eX-
ports and domestic demand to July !.
The actual exports. flour included. from
both coasts during the past two weeks.
have been 7,956,93S bushels against T.
367,S92 last year. But such exports i'm
ply foreign demand which is not un-
likely to exceed last years. and the corn
exports are also little larger than last
year. The western receipts for tho
week have been 3,S59,OO0 bushels against
9,557,66 last year.
Failures for the week have been 1Ss
In the United States against eos last
year and 50 in Canada against q last
year.
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