Wichita eagle., 1888-06-02
BROKEN MARKETS.
STOCKS DOWN, TRADE DULL AND
MONEY CHEAPER.
The Past Week has Brought Nothing
Good but Better Crop
Prospects.
Wheat has Fallen Nearly Five Cents With
the Iron Market Almost Democrat
ized-Business Failures.
The Missouri Pacific Behind with It's In
Winners at LatOnia, st. Louis
and Dodge-Base Ball

NEW YORK, June 1.-R. G. Dun & Co.'S.
review of the trade says: The past week,
broken by holiday, has brought broken
markets. Lower prices for stocks and for
products, dull trade, cheaper money, and
better crop prospects, have been its fea-
lures The exchanges continue to indi-
cate smaller volume of business than at
this time last year, the latest returns
showing decrease of per cent, in which
twenty cities share, including seven of the
ten having the highest transactions The
| improvement in crop prospects is decided.
| While the loss in winter wheat will still be
large. A marked increase in the acreage
, of spring wheat is reported, with favorinp
weather of late and improvement in many
quarters where the winters injury was
not greater. The effect upon the markets
has been important Wheat has fallen
AZ cents, corn 80 cents and oats a fraction,
hogs 25 and lard 30 cents per 100 pounds,
and oil 81 cents. Cotton remains steady,
and speculation has lifted coffee quarter
| Butter is in large supply and has fallen
g cents: eggs are lower, and an enormous
glut of vegetables has demoralized the
! market almost beyond precedent. Tea is
still dull with no change at auction, and
the grocery trade as a whole lacks the
buoyancy usual at this season. A slight
Improvement in grain fireights to IL cents
for wheat to Liverpool indicates better eX-
port demand, since the decline in price
There is no improvement in the iron
market, indeed the acceptance of lower
prices by some some southern makers in
need of money has strengthened the i'm
preston that prices will go still lower.
The cotton manufacture, on the other
hand. improves III outlook and HIGHER
prices are made for print cloths and some
staple goods with an encouraging move
ment. No recovery is seen in woolens, but
the large auction sales of hannels resulted
very satisfactorily though prices averaged
81 per cent lower than last year at the
first. and ~ per cent lower at second sale.
The general range of prices for all COM
modi:leS Is 2 per cent lower than it was
May !, with the apparent tendency toward
still lower figures Reports from the in
terror show comparative dizziness or quiet at
nearly all points. Complaints of slOwness
in collections are the rule and the number
of failures in May q per cent larger than
last year in the United States though
smaller in Canada, shows the effect of
shrinking demand in many instances.
During the past week the average price of
stocks has declined about 20 cents per
share. The market continues quite in the
hands of the local SPECTATORS
The business failures during the last
seven days number: United States, 1856: for
Canada, 10; or total of 205 as compared
with total of 225 last week and $50 for the
corresponding week of last year. There is
a noticeable increase this week in the fail
ures on the Pacific coast, the number there
being forty weight, which is far above the
average. The failures in the other parts
of the country are light and as a rule I'M
important