The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1900-03-10
SHPINKAGE
I'M VOLUME
OF BUSINESS
After a Year Of Unprocedonted 8uSt
Ing i Not Unusual or Dis,
heartoninE.
OUTPUT Of IRON FURNACES
= Somewhat Rsdueed BY the soaE1ltS
of Coke, But Prices Are 49,
Maintained.

|
NEW YORK. lrarch AR. c, Dun =
CO.'S weekly review OF trade to-nnEru
will cay:
A certain hesitation IN husines1 VIII
shrlnRase In It's volume . not unu1unl
nor unnatural At this season. 1e'iS not
necessarily disheartening. theFeSOEs, e
business is no longer as large in vOlumu
as ever. but fans behind that Of Eabru-
ary or January Or Of tic eOToSDpudinE
week last year. Strikes in hulldina
trades or tho machinIss ana others q
Chicago anect many industries and tha
wages OF GO.OoO hands. The remarkable
rise in cotton has APPARENTLY met the
expected reaction which tends for tho
time TO repress business. A few Of the
great corporations are striving to hold
prlces without regard to present de-
mand. hoping that the needs Of thscon-
sumers may prevent reaction and re-
new the rise Of last year. Wide diners
ences Of opinion also exist regarding tho
efrects ofmonetary action by congEeaa.
Special causes are not needed 70 ae-
count for some pause after year oe
unprecedented buying. That such tr1dH
could not continue without a pause -
evident, and there 10 not now the ezcoa-
SIvs speculation which threatened mOnP
etary trouble a year ago.
The output OF iron furnaces Marrh I.
was 29s, ,els tons weekly, agalnst 1904
February /, and unsOld stocks incTeasOd
1856 tons in February. making cons
sumption 1884 tons daily, against ll-
S42 tons in January Temporary stops
page Of four furnaces near Pittsburgh
by strike, and the reduction OF OUT
put by many furnaces in blast perhapa
in part desired and In pant the effect Of
scarcity Of coke, have supported prices
Of pig. and Of finished products. and The
only change Is slight decline In plates,
Much business IL evidently deferred
Just now because Of doubt regarding
future prlces, ConnellsvlHe coke ovenA
are producing 1921 tons Weukly with
200 more ovens soon to be added, but
coke is hard to get even at 50 50.
Cotton sold on Monday az 9.s1 cents.
the highest point since january 70,
1893, when the crop suddenly fell from
100000 to 100000 bales. A sharp re-
action came on wednesday, and the
price dropped S-16c that day and closed
Nc under the highest point. While tfle
demand for immediate use has bela
goods strong, there has BEEN for soma
time small desire to make contrasts
ahead.
Estimates Of wheat in faEmerS hands
March i, 1Sl.OOO,OOO bushels, ACCORDING
to the Amer can AgriculturiBt does noo
indicate lack Of supply this year. Fpl
with 54,OOO,pOO bushels in visible stoclEs4
there is In sight nearly as much ~ Q
year ago, when foreign demands WaTa
extraordinary, and yet the crop year
ended with over Ss.OOO,OoO buShnlD ~
visible supply. This year net exports
In seven months, flour lncluded, have
been iii, ,22l, 1886 bushels against 1885,
4O7 last year, and In February enough
to make about l25,OO0,OOO buShnlg,
against 10000 900 last year. with no in-
dlcatIom OF a future foreign dsman6
approaching that Of last year fIDm
March lst to July 1st. Returns a. Il
condition OF winter wheat are also satS
isfactory. But Of late prices have been
very low and have advanced this WSolt
nearly 3 cents for spot and cent Ton
May options.
London wool sales, so long awaited
by speculators here to lift up prices
again, opened with a severe decline oa
~ to 10 per cent, causing such diasp7
polntment that much selling Is likely