West Virginia daily oil review. [volume] (Sistersville, W. Va.) 1894-1902, 1902-02-15
Solid Basis Evidenced by De-
termination to Rebuild, Fol-
lowing Catastrophes.
IRON INDUSTRY overwhelmed.
Capacity of Plants and Transportation
Facilities Net Adecuate-FeIl Be-
hind With Deliveries and Buyers
Send Urgent Orders Abroad.

New York, Feb. 15.-R. G. Dun &
Co.'S Weekly Review of Trade, issued
today, said in part:
Business continues to progress sat.
isfactorily, Notwithstanding heavJ
losses through the elements. The
new year has been unusually handi-
capped in this way, floods and snow
b1ockades being closely followed by
fires and explosions, destroying much
property and retarding traffic. 1t IS
only another evidence of the solid
basis upon which the nations indus.
tries are established that in each case
plans for rebuilding on grander
scale were made before the shock Ct
the catastrophe had fully passed. The
labor situation has distinctly i'm
proved during the past week. Dis
putes at wooden mills were adjusted,
except as to the weavers; threatened
disturbance II coal mines averted,
while some railway employees receiv-
ed voluntary advances in wages. \
slight decrease Of 3.5 per cent in rail
way earnings for the first week in
February, as compared with the same
week last year, was not surprising, in
view of the many severe storms and
the diminished movement of grain.
Iron Industry Capacity Too Small.
In the iron and steel industry it is
now being demonstrated that there $
such a thing as too much prosperity
During the last few years there has
been such marvellous expansion in
domestic business that the CAPACITY
Of furnaces and mills, as well as
transporting facilities, have failed to
keep pace. The result is a gradual
falling behind with deliveries, and a
tendency CT buyers to send orders
abroad wherever needs are urgent
One case is now in evidence of steel
rails to be delivered at a Florida
port, which, after paying the duty
will cost about S. a ton more than
the regular domestic price. Yet home
producers are fully sold up to about
September /. According to Iron Age
pig iron production during January
was at the record breaking rate Of
100000 tons, and the reduction IN
furnace stocks indicated that +. CON
sumption was still greater. 1t is re-
markable that these stocks are now
only $4,000. tons against go, 1871 tons
on October l, 1900, while during that
time the weekly output increased
from 223, 1863 tons to 340,612 on Feb
ruary 1, 1902. Unfortunately the
present production is below these
record-breaking figures, because the
recent storm disorganiZed the freight
movement and many furnaces are
now banked through lack of coke.
Higher For Agricultural Staples.
Higher prices were the rule in the
markets for the leading agricultural
staples.
Interruption to movement by deem
snow and the holiday was not suffi,
cient explanation of the decrease OF
western receipts Of wheat to 1924
1872 bushels. against 2,94O,36S last
year, or Of corn to 1851 600 bushels
compared with 4,402,539 year ago.
If present high figures are not at.
tractive enough to bring out a more
liberal movement there is evidence
Of light supplies and prospect CT con
tinued strength. On the other ham,,
some. neutralizing influence must be,
recognized in exports Of wheat, -four
included, from all ports of the United
States aggregating only 3,429,S2
bushels against 3,999,053 bushels last
year, while Atlantic ports sent out
but S96,075 bushels Of corn, compared
with S,s26,6s2 year ago.
Failures For the Week.
Failures for the week number 240I
in the United States against 257 last
year, and 33 in Canada against 40
H.