The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1899-06-03
STILL BOOMING.

Tho business Situation Bcyond MI
Parnficf--Thc Nero Recital of Max.
cd Facts Invites Incrcdul.ty - The
Industrial Boromctcr.
NEW YORK, June ar. 6. Dun Il
Co. Weekly Review of Trade will say
Tomorrow:
April failures were the smallest over
reported IN any month.
May failures are nearly 100000
smaller. only 6?,S per cent OF the small
est previously reported in any month
and only Si.3 per cent OF those In May
last year. Solvent payments were
sS.32S, 292,QSa and defaults were s3.Sg0,6SG.
or 45.7 cents on $1,000, against seventy
cents In April, 81 10 In March and S. o.
In September, 1886. Comparison with
previous years indicates that the ratio
of defaults TO solvent business has
never been as small In any other month
as In May. 1890. Both In manufacture
ing ond In trading failures were the
smallest ever known In any month and
in each branch eight OF the fourteen
classes showed smaller failures than III
May OF any other gear.
: In dealing with times like these, the
chief difficulty IS to avoid the accents
Of extravaganza. The actual Is beyond
experience. and II its naked recital in
vites incredulity, what well reasoned
forecast for the future could gain hear
ing. Nobody has known until this
year and'the past month how great the
American demand for products might
be, and It does not stop short because
1t has been largely anticipating the fu-
ture, as many expected, but stlll drives
buyers to order more, as II no future
had been anticipated In actual pay
nents through clearing houses busi-
ness Is 56.06 per cent larger than last
year and 3Sl per cent-larger than In
1892.
In railroad earnings, notwlthstand-
Ing differences IN rates. business Is 81
per cent larger than last year and 2l.3
per cent larger than In 1882.
The Industrial Barometer.
More than twenty years ago the de.
mand for iron was called the Industrial
barometer, and 1t claims the place yet
when the demand passes. all belief.
Many more furnaces have gone into
blast and yet the famine grows more
severe. pig has risen this week iifty
cents to 81 at Chicago. and grey forge
twenty-five cents at Pittsburgh, b!lcts
actually selling there FOR So more than
the standard price for steel rails. Platcs
are so needed that s. premium Is paid
for the June or July delivery. Struc-
tural works are far behind and are ex-
pected 10 advance prices Sheet works
cannot Ill orders. though 81 S. Is paid
for black No. q at Pittsburgh and bars
are stronger with cut nails ten cents
higher. Pig Iron has advanced S.5 per
cent In May and finished products &c
per cent. Coke works are overcrowded
and prices are higher. Minor metals
are all dull. tin at S25 Co. copper at
SIS 80 for lake and lend at A45 cents.
Wheat has been lifted ilghtlly on all
sorts OF reports and then dropped, clos.
Ing one cent higher than last week.
Returns for the broken week Indicate
little except that western receipts arc
still quite large. 4l5G,O69 bushels
against 4,26S,520 last year and they
would hardly be as large II actual sup
plies at the west were deficient, con-
siderlnS the extreme urgency OF de-
mand which last years fancy prices
created. Exports from Atlantic ports
have been 2,549,7S3 bushels. -four In
cluded. against 4.124. 4.49S last year and
2H.a29 bushels from Pacific ports,
againet 3s5.t39 last year and In five
weeks from both ports 13,3l0,SSO BUSH
els. asninst ls,37i.S last year.
Failures for the week have been 145 ia
the United States, against 222 last gear,
ana Ia IN Canada, against 16 last year.