The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1900-10-06
STERLING EXCHANGE

LllNUYLhOllAlNuL Si
sufferB Another Drop Of One Gent in
the Pound Coal Strike Felt in tho
East-Heavyt Foreign Buying Of
Observation-Disclosures Waiting for
Result Of Election. Il
NEW YORK. Oct 5.--R. G. Dun &
icompany's Weekly Review Of Trade to-
morrow VIII say: III
The anthracite coal settlement has
been delayed another week. and the ef-
feet upon business In; the east Is more
apparent. though distribution in the
west and south seems no less active.
seasonable weather in the east would
quickly aid matters. Prices are slight
Eiy lower In Iron, wool, coal and sugar.
but the produce and textile markets
are firm and In all departments Of busi-
ness an effor. by distributors to In
crease transactionu would quickly nd-'
vance prices. There Is little ordering
ahead in any kind Of merchandise; but
steel rail makers look for. contracts for
about two million tons after election.
Rain is needed In the south and on the
North Atlantic coast, but In the south
west rains have checked the cotton
picking.
The most interesting financial devel-
opment was the further drop Of one
cent In the pound in sterling exchange.
completing decline OF two cents In
two, weeks, without any important
change in our money market. AT the
same time London rates for discounts
have strengthened materially. though
the Bank OF England, made no change
in its rate, in which an advance had
been expected.
Heavy Buying Of Cotton.
Heavy foreign buying of cotton has
outweighed all other influences and
there is insufficient demand for regu-
lar remittance to absorb commercial
bills drawn against this staple. Cot.
ton firms are producing about double
the exchange they did n year ago and
as the crop Is being moved with funds
shipped from New York and without.
gold imports from Europe. the net re-
suit Is that New York is loanlng for
eigners about half the value OF the
tcrop.
Most manufacturing concerns are de-
laying extensive production until after
election. and are buying little raw ma
terlal. Pig iron has declined on small
orders, and was also depressed by the
cut in southern freight rates. Finished
| material and structural lines are steady
and export buying does much to pre-
vent dullness.
For Cars and Bridges.
Contracts for cars, bridges and
plates for ship-buildlng ware signed
during the week and rails we.c sold at
$40 to domestic roads. whilo small
amount was taken by Italy. Boot and
shoe factories are more actively en-
ployed on rush orders, confirming the
reported reduction.aSof stocks, but
spring contracts are postponed. 's''-
Sales OF wool at tho three chief east
ern markets were 3.4l7,265 pounds, ex-
cecdlng every week since August. but
still insignificant compared with last
year. and Coates & Bros. average
prices OF 100 grades on October /, was
1864 cents against 2o.S7 September /.
Wheat is steady. For the week At
lnntlc exports were ,3,25299i bushels,
flour Included. against 3,56o,o62 10 1899.
After the end Of September there was a
decline In the price of corn for the cur
rent months delivery. but elevator
prices remained firm, and receipts for
the week were only 4,S4o,s02 bushels,
against 7,679.540 last year. while Allan
tic exports were 2.1i4.6lO bushels.
against 2,ss2.2S2 a year ago.
Sharp Rises in Pork. lH
Lower stocks at Chicago caused q
sharp rise in prices of pork products.
Cotton prices are maintained near the
top. Mills are not active, as the pres
ent price Of raw material Is out Of pro-
| Po' ''oi " Vuo'a'iohs iuiiHh III tne
goods market. Re!lners reduced su-
gar to 5a cents for standard Sranula-
ted. but supplies are low.
Failures for the week were 20S in tho
United States, against 1874 last year,
and % In Canada, against 20 last year.
---e->-e--
Prize Fighter Falls Unconscious.
PHILADELPHIA. Pn.. Oct. 5.---At the
Industrial Athletic club tonight, Steve
Flanagan. of Philadelphia. ex.cham-
pion bantam weight of America. fell un-