The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1899-05-13
TREND OF TRADE.

Dccltnc In 1nduStrials hns no Rcla
tion to Productive Industry Vol.
umc of business Larger. than any
Former "prospcrity" Years.
NEW YORK. May 12.--R. G.. Dun &
Co.'s weekly review OF trade Will say:
TO speak truly OF business this wcel;
one must free the mind of stocks. For
n severe decline In manufacturing
stocks has created m impression that
1t has some relation to productive In
dustry, but It hns none. There was no
change In the money market worth
mentioning aud the volume Of business
shown by payments through the prln-
cipnl clearing houses was 71.5 per cent
larger than In 1872, the year OF great
est prosperity hitherto. which Is more
than double the gain anybody consider
ed possible u year ago.
Never before reaching quarter of a
million tons per week the iron manu-
facuture reports May 1st an output Of
25o,095 tons weekly, which with 5i.i5J
decrease In warrant and furnace stocks
indicates n consumption Of 1882 tons
daily against 3i.035 In March, 1851 in
February and 36s24 in January. The
average for four months Is 3I,O27 tons
daily against $1,000 last year. An In
crease of 16 per cent in the year would
be less interesting IL consumption year
ngo were not far beyond anything pre-
viously realized. Yet proposed combl-
nations hinder large orders in bars and
sheets, while the structural business Is
as heavy as ever In small lots With bis
contracts about TO come at Chicago for
the drainage canal; and the plate busi-
ness too big for all the works to handle.
invites no consolidation, Chicago and
Philadelphia works being behind in de-
liveries and Pittsburgh works troubled
by demands for 1900 tons vessel plates
and 1000 moro close ahead for tho gov
'ernment docks at Alglers.
Only Pig Iron Advanced.
Only pig iron advanced, Bessemer 10
cents and gray forge 25 cents at Pitts
burgh and local pig so cents at Chicago.
In minor metals tin declined with Lon
don to $50 cents and copper Is weaker
at 10 cents for spot and 1871 for futures.
Greater than in any previous year by
81 per cent, the actual shipments OF
boots and shoes from the cast reflect n
heavy business with general advance
tn, yn,.ir NJ ('hiru rn riun n hpDt
/ per cent with actual receipts of cattle
in four months 100000 head less than
last year and over 100000 smaller than
in 1898, Notwithstanding the gain in
population. Cotton Is n shade stronger
at G.25 cents, with government and other
evidence that the reports Of the de-
crease in acreage have been somewhat
exaggerated. Mills are employed
throughout and u single sale of over-a
million pieces print cloths gives great
assurance to the market.
Wool Prices Advanced.
Nobody who has studied statistics can
tell why purchases of n million pounds
Australian wool in bond for export this
week following others In previous weeks
should advance prices Of wool. nor We're
purchases, OF 100000 pounds territory
wool by Spectator readily eXplaina-
BILE. But 1t Is Just the time for growers
to nsk all they can hope 10 get, and
Just when the largest manufacturers
were ready to buy only the smaller are
buying. Prices are said to have been
generally advanced with higher de-
mands from the interior holders. But
1t remains n question whether sales of
1O.i99, COO pounds for the week against
5,369.J50 In 1892 and only n little more
in 1897 Will prove profitable. The mar
ket for WOODEN goods Is waiting for evil
dences OF demand which do rot yet ap-
pear and the delay in getting the new
combinations into working order causes
some hesitation.
Unreliable Estimates.
II government estimates We're consid-
cred reliable. one based on entirely un- .
known acreage OF wheat and cotton
would be everywhere resented. Thus,
with official returns pointing to great
decrease In winter wheat production.
the price dropped cent and cotton de-
cl!ncd Tor options. though retaining the
advance of sixteenth for spot which
was established before the government
report appeared. Nobody can base q
sensible estimate on n statement of con-