The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1899-10-07

CAN HALT
BUSINESS
In It's Continued March to Greater
Things..The Wonderful Re.
cord of Four Days
IN NEW YORK TRANSACTIONS.
Steel Stocks are Firmly Held.
Yery-.Heavy Sales Of Rails.
The Grain Market.

NEW YORK, Oct 6.--R. g. Dun q
Co.'s weekly review OF trade viii say
tomorrow;
The grand demonstration in honor OF
Admiral Dewey e6ectually stopped
business Of most kinds for two days at
the chief city of the country. and yet
the remaining transactions OF the week
would have excited wonder year ago.
At New York. where the interruption
was greatest, payments through clear
ing houses exceeded $1.O5s. 100000 In
four days, a record never before APP
preached, and outside New York the
gain reflects n great expansion in the
volume OF that kind Of business which
does not depend on exchange. 1t has
been week OF remarkable monetary
conditions here and elsewhere.
The Bank OF England raised Its rate
per cent before and y per cent more
after its weekly statement from 81 to s
per cent, with the hope that the outgo
TO New York might be checked, but the
bank Of Germany lost also. and raised
Its rate to 6 per cent and the Bank OF
France lost heavily. While high rates
were paid here for money required In
speculation, no strlngency embarrasses
any branch of legitimate business, and
the stock market has held up surprls-
lngly.
Steel Stocks Firm.
with such business as the great steel
companies are doing, 1t is not strange
that their stocks are firmly held There
have been heavy sales of rails deliver
able next year, 500 being fixed as the
price after consultation, and about $780,
900 tons fairly divided between eastern
and western works were sold. For
their protection the great companies
bought blllets in large quantities, fol
which 1t is said sos was paid by some,
and Of RessemeF pig nearly 100000 tons,
the Federal Steel Company taking
10000 and PtttgbursiE WORK. taRltg I'd
vantage OF old options. Other large
nail contracts are expected soon espec-
lally those OF the Pennsylvania. Plate
works seem TO be gaining little II any
on their orders, and bar mills nre us
crowded as ever, while the renewal OF
efforts for consolidation of sheet mills
cause more active buying. But while
'Bessemer pig rose twenty-five cents
and grey forge at Pittsburgh declined
nifty cents, finished products were not
changed. excepting another rise Of fif-
teen cents per keg in cut nails and there
is reported some disposition to hold
back orders because of the general rise
in prices.
The wool market is strong, with
sales of 1O5S2,152 pounds at the three
chief markets, prices being maintained,
although the advance at London hns
been checked. The cotton mills, after
the general advance in prices last week.
have had a large business, being helped
by the rise in material. 1t seems still
uncertain what form OF consolidation.
IL any, will be adopted by the Fall
River concerns.
The Grain Market.
After advancing about two cents.
wheat declined sharply. uncertainty in
the Transvaal being used by specula-
tors as excuse for the fluctuaion. The
closing price is unchanged, with At
lnntle exports of s.562OOO bushels, hour
included. against 2.sS4 4,5s3 last year, and
Pacific exportsof ss7,O52 bushels against
7O2, ,4l4 last year. When II Is noted that
corn exports were also 2,S92,2a2 bushels
for the week against 2,5Sl.O .OO2 last year.
the price rising one cent, 1t seems not
strange that wheat continues Arm. and
western receipts have been for the week
only s,6II,ll3 bushels against 1O5s9,359
last year. The merchandise exports
from New York have been In four
weeks 3al, ,2O2, ,s22 in value against $s2'-
74s,4O4 last year which with the in
crease In manufactured exports and In
cotton exports from other points In
sures an enormous outgo for septem-
ber, while the Increase in imports at
New York has been about 395OO.OOo in
value. apparently not enough to reduce
the excess OF exports for the month.
heIou, $40 600 OOO