West Virginia daily oil review. [volume] (Sistersville, W. Va.) 1894-1902, 1902-02-08
Doubtful Whether Ever So
Scarce--Evidence of Great
Consumption.
RAIL WAY EARNINGS INCREASE.
Interruption to Railway Traffic and
Outdoor Work by Severe Storms
Only Unfavcrabie Factor In Busi-
ness Situation the Past Week.

New York, Feb. S.-R. G. Dun L
Co.'s Weekly Review of Trade, issued
today, said in part:
interruption to railway traffic ana
outdoor work by severe storms was
the only unfavorable factor in the
business situation during the past
week, while manufacturing activity
increased, and distribution through
retail channels was undiminished.
Reports from the west are especially
encouraging, but a few southern
points are slow to exhibit improve
ment. ! Railway earnings continue
their monotonous record of increase,
for January gaining 70 per cent over
last year and 242 per cent over 1900.
The fourth weeks earnings were
somewhat reduced by bad weather.
Famine in Pig Iron.
Famine conditions exist in the
market for pig iron. 1t is doubtful
whether there was ever time in the
| history of this nation when this metal
was so scarce. Considering the fact
| that production during 1901 was far
| beyond all previous records, the pres
ent shortage gives indisputable ey:-
dence Of the unprecedented rate at
! which the mills have been consuming.
| Controlling interests deprecate all
| tendencies to initiate prices, recogniz-
| ing the fact that the continued heavy
| consumption is dependent upon quo
/ 4DLs I,nlI n4 L. te~
| Nevertheless if deliveries are wanted
! before July | 1t is often necessary to
| pay premium, and consumers have
| been compelled in some instances to
| place orders abroad. Efforts are be-
| ing made to repurchase iron sent
abroad last year, since that may
! evade the duty German billets are
| still arriving, but the market abroad
is advancing, which will tend to check
the movement. Structural material
| supplies are utterly inadequate and
the action Of the Chicago council re-
pealing the ordinance limiting the
height of buildings has placed manv
new contracts on the market Rail
ways are so urgent for supplies that
an order for rails may go abroad IN
the light of these reports it is not sur
prising that exports of iron and steel
fall off and foreign contracts receive
scant attention.
i Compared with the cratic course
Of the cereals during the preceding
month or two, produce markets have
been quiet this week. Dizziness an!
lack Of special influences were moi
productive Of weakness. however
former quotations being stubbornly
maintained. In the case of corn
there are many expressions of faith
in lower prices without aggressive
speculation on the short side.
Commercial Failures During January
Final returns of commercial fail,
ures during January exhibit an excep
tionally large number of insolvencies
and also an unusual amount of de
faulted liabilities. In manufacturing
lines there were 264 failures. involy
ing $6.308,948, an increase of 81 ,607.
964 over the liabilities last year. De
faulting traders numbered 1920, with
liabilities of $7,116,972. an increase o.
172 in number and s1.805.168 in
amount Miscellaneous failures were
so in number and $886,5S1 in liabili
ties, exceeding January, 1901, by Ia
in number, but showing a decrease
Of $321,44 in defaulted liabilities