The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1900-05-12
COUNTRY RECOVERING

the Potomac Volume Of Business
Larger Than Ever Before.
NEW YORK, May 11.-R. C. Dun &
Company's weekly Esvlew Of trade To-
morrow viii say;
With wholesome promptness the
] country is recovering from the eInbar-
rassmeBt of unnaturally high prices IL
some lines 4he great manufacturing as
sociatlons have taken the le9d,in others
reductions are still deferred because tn;
entire producing capacity Is engaged at
high prices for some months to come;
in others It comes in spite Of resistancs
because buyers hold back orders for
their own protection until material con-
cess!ons are made. No disturbance nor
stringenry OF credits results, nor any
sign Of darn and the movement is per-
haps mbre healthy than It could have
beeo ifentirsly controlled by the COM
petition OF many small concerns. Tie
proportion of works and hands unem-
ployed is yetequita small and the vol
ume OF business transacted. though leFs
than last year in New England and IN
middle state cItiesyis larger than ever
before at ffty-four out of sixty thras
clearing houses in the entire region west
of Pennsylvania and south Of the Poto-
mac. Production stimulated by high
prices rises above consumption RETARDED
by them.
Output of Pig Iron Increases.
The weekly output of pig Iron May 1
was 29S,S5O tons against 2s9,4S2 April l,
while unsold stocks not held by the
great steel makers Increased 1855 tons.
This would indicate daily consump-
ton Of 1854 tons against 1852 in Janu-
airy. hitherto the largest output but for
the fact that considerable stocks have
also accumulated in the. hands. OF con-
suming concerns OF which enough 20
USE much more than 1000 tons daily arc
now Idle. Beszemer pig at Philadelphia
and Lehlgh Valley No. here are
quoted at 500 per ton and market wl'e
has been reduced in correspondents
with barbed and plain. Considerable
Increase OF business is reported, result
Ing from recent reductions, but de-
mands for higher wages and also for
closing for some iron works two months
in the year whether there is business or
no; causes some hesitation regarding
further contracts. The smelling and re-
tining company has reduced lead 80 per
ton to 4Ac and copper declined an
eighth to 1910 for lake, while tin is also
lower at 29c.
Wool Advances in Finer Grades.
Wool yields little more. chiefly in
the finer grades. A decline of nearly -
per cent at the London, sales is one
cause, but more potent Is the con-
tinucd abstentlon of manufacturers who
do not find the market for goods at the
advanced prices named this year at all
satisfactory except for a few staples.
Cancellations caused some trouble and !
slow payments some and prices Of may
grades are irregular. Cotton goods arr
also Irregular and In unsatisfactory de-
mand. the prices averaging only 10 par
cent higher than they were November
lst, while cotton has risen 1873 per cent
from 7%c to s7bc and is supported by for
elgn buying. silk on the other hand.
has fallen sharply IS to 80 cents for the
different grades and from the Highest
point in January IS cents on italian.
81 10 on Japanese. as on Shanghai and
81 O5 on Canton, imports from China
having greatly increased. The opening
OF Philippine ports has also reduced the
price of hemp from 10 cents last Now
ember to Il cents.