Year: 1874

There N now very ueCluGu 'u4uhy ~
this market from Western dealers as to


prices. Manufacturers could enter up
great many orders II they would only
meet the views Of their correspondents.
Thiq, however, they are not inclined to do
st present. Their hesitation In this re-
spect Is altogether prudent In our judg-
ment. Prices are now at dead low
point for almost every line OF goods
manufactured in Wheeling. They have
steadily settled down 10 this low point
since the September panic. Isit likely In
the face OF the very evident let up in
money matters that prices will decline
lurlherY We should say not. It Is
hardly possible that the situation will
not gradually improve from this time
on, It certainly Is not likely that we will
have both cheap money and cheap pro.
ducts all the Spring. That we are TO
have cheap money seems quite plainly
indicated by the reports that come from
all the principal money centres Of the
country. The statement Of the New York
banks tor last week shows q still further
gain in their reserve. Money is now un.
usual abundant in that market. The
Tribune Of Saturday says that


"I.oans were freely made at 4 per cent
Yesterday, and the prophecy Of q promi.
nent banker, that there would soon be q
3 per cent money market, Is generally nc.
Cepted by brokers as q Iact soon TO be
demonstrated. Indeed, loans were made
yeSterday at 8 per cent on undoubted COL
laterals."


The Financial Chronicle says that cap!.
tai ls flowing swiftly to New York, and
that the accumulation amounts already to
TWO hundred and forty millions in the
banks there as Ggsinst two hundred and
twenty millions on the 9th ot February
last year. Such an accumulation Of money
In New York shows that there Is no
healthy demand for 1t in the West. The
wheels Of trade are not properly in motion
or else money would be more largely in
demand at home. 1t goes to New York
for temporary employment, either to earn
interest in the banks there on call loan or
to be invested In Governments and other
securities for the time being. In few
weeks from now the ebb will set in from
New York to the West, when once the
spring.tradc Is fairly commenced. This
is the case nearly every spring, and there
is no reason to suppose that the present
season will prove an exception. The ebb
set in last year after the sth OF February
and lasted until May. Indeed money be.
came stringent In New York late In the
spring.


The situation then Is, so far as the city Of
Wheeling Is concerned, that the Western
markets have yet to awaken, but that
they will awaken at the proper time
IuGtler along IN the season, about The
time the return flow Of this vast accumu.
latlon of money in New York sets in.
Western jobbers understand this situa-
tion pretty clearly. They know that our
products are about as low as they are
likely TO be and that the chances are that
there will be an advance on the present
prices before long. Hence the numbers of
inquiries for prices.


1t is not for us to advise manufacturers
against torestslling the markets Of the
West against themselves. They are fully
acquainted with the dangers to their bust.
ness at time like the present. We trust
that their experience in times past will
enable them this spring to retrieve the
losses Of the last six months. II seems to
Us that patience and prudence will pay
q good profit for the next two or three
weeks