The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1899-07-15
PLEASANT
PROSPECTS
CONTINUE
To Characterize the Condition of
Business, With no Signs
of any Trouble.
EVERY FACTOR CONTRIBUTES
To Continued Prosperlty..Iron
Production Increase :. The
Speculation in Wool.

NEW YORK, July lA-R. @. Dun
8 Co.'S weekly review OF trade viii
say tomorrow:
Because every prospect pleases, II Is
the right time to watch most closely for
signs of trouble. But 1t is not easy to
find them when the volume of business
is sS.7 per cent larger than last year
and 1856 larger than In 1892, tho best of
all years except the last, or when fall
urea continue the smallest ever known,
or when the exports of staples begin to
Improve materially, or when railroad
business Is by far the best ever known,
or when New York bankers appear in
international operations listening to
Russian inquiry and undertaking
Mexican loan. Even the industrial
disputes incident to the season. cause
less trouble than usual. the largest Of
them having been settled Thursday by
the tin plate company. The Bank of
England finds 1t difficult to borrow mo-
ney from this side, nud frankly raises
It's rate while this country begins to
ship fresh crops for which Europe will
run into debt.
Iron Production,
Iron production in the FIRST week of
July was 263,36S tons for the past two
weeks, less because strike July
closed seven sheuango furnaces pro-
ducing 1900 tons daily. though 1t is ex-
pected to end to-day and several other
furnaces have begun production this
month. The increase of 1901 tons
weekly IN June. with decrease Of $1,000
tons in the unsold stock not of the great
steel companies implies a production of
about l,12s.G tons in June. Consump-
tion would be 100000 tons, and in the
half year 6,S44,2l6, but for the fact that
steel makers have stocked heavily
against orders running through most of
the year, drawing from outside sup
plies, so the consumption may prove
only 100000 tons, or even less. Prices
are climbing, but only for the triilng
surplus not covered by contracts, so
that quotations represent but an lnsig-
nlflcant part Of the actual business. 1t
is OF more Importance that new orders,
though very many. seem no longer
equal to the weekly output, except in a
few branches. while furnaces and other
works practically abandoned for many
years are being started again.
The largest shipments Of boots and
shoes in any year for the season 19a,OSo
cases, in two weeks, greater by ia per
cent than last year. s6 per cent than in
1919, and 29.4 per cent than in 1897, re-
suit from very extensive pressure to
anticipate orders for August or Sep
tember, distribution far exceeding ex-
pectatlons, but there are reported with
such appeals not nearly as large though
numerous duplicate orders.
Hemloek sole leather sells largely,
but some kinds slowly with slight yield
Ing In prices.
Speculation in Wool.
In wool a great speculation Is in
progress, sales in two weeks reaching
%, 2,2al 100 pounds, against 94,572,sOo in
1897, when the buying was to anticipate
new duties. 1t is worth noticing that
no purchases by manufacturers nre
mentioned, says one for 100000 pounds,
though there is much calculation that
"the manufacturers must buy" at any
price asked. Western frenEies some-
times make eastern markets, but as o |
rule consumers make prices In the end.
In striking contrast with official and
other wheat reports are the record re-
ceipts ut western ports, S,oSS,l4s BUSH
els In the week, against 1,47l,7Ss last
year. 1t is not strange that prices
have declined 1Nc and exports, flour
included, were from Atlantic ports in
July thus far, 4,lS5,gl4 bushels, against
4,Os3,sl2 last year, and from Pacific
ports l,0lO,4S5, against $1,000 last year.
besides 5O5,5S5 bushels this year from
other ports. Corn exports are also SUR
prisIng, 5,S15,2l4 bushels in two weeks,
against 2,557.O9S last year, but less sur
prisiug than western receipts, 1O,6lg,Sn
bushels, against i.5Gi,O7l last year.
Nevertheless the price advanced y OF
a cent,
Failures for the week have been 1859
in the United States, against 2l5 last
year, ana twenty-four in Canada,
-. .,,,.,,, ,,,- tLrao lout ,-enr.