Wichita eagle. [volume] (Wichita, Kan.) 1886-1890, 1888-05-12
RATHER UNSETTLED.
Business Throughout the Country not at
all Encouraging.

NEW YORK, May 1i.-R. G. Dim q Co,
In their weekly review of trade say: Gold
exports, the advance in the Bank of Eng
land rates and bad crop reports have
made the business prospect less favorable.
The advance by the bank to 3 per cent,
instead of 216, which was expected, dis
closed a strong desire to arrest the move
ments of capital In this direction. Two
SIN all shipments of gold, hardly justified
as yet by exchange rates, showed the be-
lief OF bankers That a check in foreign pur-
chases of securities would presently make
considerable specie exports necessary. The
nigh price and deficient yield of wheat
strengthened the impression that merehan-
disc exports would not increase sufficiently
10 prevent the out-go of gold. AT the
same time the failure of the treasury for
several days to obtain bends at the price il
is willing to pay revived the fear OF the
withdrawal of money. Thus far at all
events the treasury has succeeded IN pay
ing out more than II has taken IN, ~, 4O0,-
900 more during the past week, out the
excess of revenue will soon be felt unless
the secretary sees fit 10 advance prices paid
for bonds. At present money markets IN
all direcBions are fairly, or fully supplied.
Crop and industrial reports are not ell
tirely- encouraging. inc condition OF
wheat on May l. officially estimated at u,
indicates loss OF about S0,00G,C Cos bushels
of winter wheat, and with significant an
ticipation of news the market rose ; cents
in a dav to 20 cents on "Wednesday with
great excitement. When the report came
on Thursday realizing oI profits
broke down the price l cent, but the
struggle between Chicago bulls and New
York bears is likely to make the market
active for some time. The natural in
crease in spring wheat has vet TO be esti-
mated. and it may be enlarged by the re-
ports OF the shortage in winter wheat,
so that the entire yield and
the surplus remaining from this
wear NAV vet prove sufficient for all re-
quirement~ Corn and oats rose but
slightly and pork products show no i'm
pOrtant change.
Cotton manufacture is more hopeful.
The price Of print cloths rises 10 3G9 and
the demand for staple goods is strong.
Notwithstanding the higher prices of
breaCStutfs and meats the average OF all
prices continues TO decline, having fallen
aboub.,c for the past week.
Business at interior points is irregular.
but on the whole smaller than year ago,
exchanges outsids OF New \ ork showing a
decline of about per cent.
The earnings of railroads still show
gains, but prices Of stocks nave declined
during the week al average OF more than
81 per share under the influence Of I'M
favorable crop reports and the beginning
of gold exports.
In the oil market no change of conse-
quence appears, but coffee Is stronger.and
cotton is steady, but the clos
ing OF hosiery establishments employing
1t is stated, 1000 persons, in Pennsylvania
alone, in consequence of large imports aud
saees of German goods at unprecedently
low prices attracts attention, IKE wooden
manufactures declines to purchase ma
terial except for immediate needs, and the
average price of classes of American woods
is sc lower than a month ago.
The business failures during the last
seven days number For che United States,
1913; for Canada, Il. Total 2ll. compared
with ,4S4 last week and l61 for the cores
pondiDg week of last year.