The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1899-07-01
THE BIG BOOM
in BUSINESS
CONTINUES.
Remarkable Record for the coun.
tryin the Way of Decreased Fail.
ures for Second Quarter.
DEMAND FOR IRON AND STEEL
Seems to Have 70 Limit The
Boot and Shoe Industry
Passes all Records.

NEW 4OhtNt June 5V.--lt, ~. Ouu q
Co.'s weekly review OF trade will say
tomorrow.
Failures for the second quarter OF
1899 have been 2OSO in number, against
s,055 last year, with liabilities of $2O,-
25g,OOO. against SssGO2, ,252 last year. and
for the first half of 1899 failures were
4,S62, against G.7G6 last year, with linbil-
tiles Of $4S,711 900. against S71 ,2467ss last
year. Nearly half OF the June liabilities
are due to one failure. not strictly COM
merclal, covering some banking con-
Germs "a promoter and railway equip
ment company for S5ls6OOO. In essential
features, loan and trust concern. With
1t banking failures amount to SS,4sG,0Oo
for the half year, leaving for CONNER
clal failures $42,g75,O5S, against $685.
$50 last year. Manufacturing were Sis-
100000 for the half year, against $780,
7es,l44 last year, and trading were S2S,-
100000, against sS2,s56, GIG last year.
Demand for Iron aud Steel.
The demand for iron and steel seems
to have no limit, Scarcity of pig has
raised the price dollar per ton for local
coke at Chicago, 81 10 to $40 rs for Bes-
sener ct Pittsburgh, and 81 75 to s17 10
for grey forge. and 75 cents TO $40 %
for anthracite No. at Philadelphia,
with some iron selling above these quo
tations at all points for early delivery.
Efforts to get foreign contracts out OF
the way are met by fresh orders from
Europe at last weeks prices. Some fur
naces have started with contracts for
their whole years product, but others
are yet delayed. Prices OF pig average
higher than at any other time since
February. 1890. and prices Of finished
products higher than since March. 1891.
Blllets are hardly obtalnable, bar and
plate orders are refused quite largely
because works are overcrowded, sheet
mills have much stronger demand at
the west, but less at the east, and struc-
tural works report 2s,OOO tons required
,Iu,tzo new eastern contracts. The eOa-a
tlnulng demand in spite of rising prices
astonishes everybody. Coke ovens, H.
45S at work, put out for the week 49,
S52 TONS, the heaviest weeks work ever
known at connellsvllle. Tin Is stronger
at 2s cents, and copper at IS cents for
lake, but lead is dull with hope Of an
end to the Colorado strike.
Passes nIl Records.
Another industry passes all records,
boot and shoe shipments from the east,
4OO,s1S cases. exceeding those in any
other month of any year for four weeks,
and the demands for speedy delivery
show enormous distribution in all direc-
tIons. New orders are large, and sew
eral months ahead. Wool sales, sS,17s,-
900 pounds, of which so,ss5,sOO were do
mestlc, reveal a speculation scarcely
less obtruslve than in 1897 when 4l,1s7.-
900 pounds were sold in the same weeks
against 2S,7ss,2OO in 1892, when the mills
were well employed. Cotton mills are
doing well.
Wheat receipts at the west in four
weeks have been 2l,6Sl,bSe pushe4S'
against 4,il1,s25 last year. and western
receipts in June have ranged between
5,7sI,52s bushels in 1894 and 9,55l.27s In
1895. Beyond question the farmers and
the spectators and elevator owners in
farming regions believe that about 50
cents mere is as much as the old wheat
,,,tIi Rotrb olthorVl, o,tnnrtl have been
for four weeks S.sis,ssS bushels from
Atlantic ports, against 15O12,sS7 last
year, and 2,445,749 from Pacific ports,
against l,S2s.7Os last year. tbs not sur
prlslng that, with such receipts, the
price has dropped IL cents, and corn
also fell cents, with exports in four
weeks II ,4S5,59S bushels, against 1906
7O3 last year.