Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1901-02-23
u REVIEW OF TRADE.

NEW YORK, February Or. G.
Dun & Co.'S Weekly Review of Trade
tomorrow will say:
Business in the East and particularly
along the North Atlantic coast, has
been catching UP with the rest of the
country a little this week, so that in
the few lines where complaint has been
heard locally. of late the tone is bet
ter. This comes from the working off
OF retail stocks which n feared
would have to be carried aver until
next season. In builders hardware
the buying has been notably better
and the distribution in the grocery
Jobbing trade has been given a con
siderable stimulus. Even the laggard
dry goods market has shown a good
measure of improvement; though in
cotton goods there is still much to be
desired, for the larger buying has not
brought any Improvement in general
tone and in some directions the mar
ket is slower than a week ago.. From
the interior adviees are almost uni
formly favorable, with a very heavy
movement of general merchandise and
farm implements over the northwest
ern railroads.
Activity grows more pronounced in
wool, sales at the three chief eastern
markets ag~gregating S,528, 500 pounds
for the last week against 6,972,6 500 in
the previous week and 1888, 400 a
month ago. Although transactions are
heavier than at any time in over a
year., the situation is far from salts
factory as this week brings a lower
level of prices. There is little evidence
of a better demand for goods and while
some holders of wool are sacrificing
stocks in order to make room for the
new clip, the supply is not materially
decreasing. Purchases are larger be-
cause of the feeling that prices must
be near the bottom and this impress
sion is d%eepened by statements that
the average is now down to the point
from which the great advance began in
1899. 1t is not down to that point by
more than half q cent, however, al
though a few grades are nearer the
price on May l, 1889, than the general
average. Unless manufacturers re-
ceiYe large orders and reduce excess
siye stocks before supplies are aug
mented by another dip, it is difficult
to see why prices should advance even
if they are at the level of two years
ago.
The other large textile industry is in
not much better condition. Instead OF
being able to advance prices OF cotton
goods in proportion 10 the high quota
tons recently made for raw cotton, the
mills are meeting with light demand
and even at the reduction to three
cents for print cloths there is no &C
t1yity. Many mills have already re-
strieted operations and more will stop
spindles on March LIST. When the raw
material was advanced to the highest
price in ten years, it could not defy
the law OF supply, demand and prices,
which ultimately restores an equilib-
rum.
On tuesday a decline of $13.75 a hale
from the top point had occurred, max
ing it possible to manufacture at a
profit, but this does not help mills
when have goods on hand made from
cotton purchased before the fall to the
lowest price in eight months.
Footwear is firmly held at unchanged
prices, with good buying of spring
lines in the Boston market. Western
trade is less active, and some orders
have been countermanded. Leather is
irmer with exceptionally large sales.
No diminuition appears in the move
ment OF iron and steel produets. Mills
are rushed with orders and new con-
tracts are taken 1t full prices. Pig
iron is freely bought and prices tend
upward. Billets and other partially
manufactured forms are firmer, and
finished goods would command high
prices if immediate delivery could be
secured. Structural shapes are still a
feature, with large operations pending
i'll bridges and track elevation. More
coke ovens are added to the active list,
making the output mucn heavier than
at any recent date. Lumber and ma
terial are in good demand, owing TO
extensive preparation fer spring build
ing, and at Buffalo there is special &C
tivity on account of hotels and other
work in connection with the exposition.
Grain markets are devoid of wide fuc-
tuatiens, although many reports are
circulated regarding the condition of
winter wheat. 1t is too early to secure
definite information and traders are no.
Influenced by rumors. News from In
dia and Australia indicates a larger
crop than last years.
Failures for the week were 253 in
tle United States, against POI last year,
and 20 in Canada. AGAINST az LAST wear.