Wichita eagle. [volume] (Wichita, Kan.) 1886-1890, 1888-06-30
The Complaint of Dizziness Due to
the Over Confidence of a.
Year Ago.
Decrease in the Foreign Export Trade
Comparison of Failures for the First
Half of 1887 and 1888.
Cotton Worms Threatening Annihiiation
of that Crop in Arkansas-Yale
Breaks the Record in the
Race With Harvard.

New YORK, June Or. G. Dun & Co.,
in their weekly review of trade, have the
following:
business at this date about 10 per cent
smaller than that of last year, but larger
than that of previous years. The general
complaint that business is dull means that
the reaction from the greater activity of a
year ago and from the confident expecta-
ton of last winter, is keenly felt. To very
many traders who bought largely
in their overconfdence the shrinkage
brings serious losses or actual embarrass-
ment and to this cause is mainly due the
increase noted during recent months in the
number of failures. For the past quarter
failures number 2,241 in the United States
against 1905 for the same quarter last year
and in Canada 343 against 315. In amount
of liabilities there is also an increase in
the United States of 500 229, $50 against
S22, go, $50 last year, but a decrease in
Canada Of 81, ISL GA against 3,2O7, 9o6 last
year.
Prices have declined little more during
the past week, but show at the close
some recovery. Wheat is but quarter
lower than week ago, corn 1c lower and
oats 1c higher. Fractional gains appear in
lard and coffee while cotton has weakened
an eighth and spectators for raise have
been hastily unloading. Oil is about 1c
lower and refined has declined an eighth.
Bar iron appears shade firmer, strikes at
the west being deemed possible, and better
prices are realized for Bessemer pig at
Pittsburg but other quotations do not i'm
prove No foundry has been sold for less
than SIS at Philadelphia. And steel rails
are unchanged. Wool remains unusually
dull for the season and the manufacture
shows no signs of recovery.
The general average of prices of COM
modities is but small fraction lower than
week ago and if crop prospects should
prove less favorable some advance might
at any time begin. Accounts from cattle
growing regions are favorable, but low
prices are seriously felt by growers. The
clip of wool does not appear to have
diminished materially, but there is less
readiness to market than usual because OF
a general belief that prices may improve
after congress has adjourned.
The volume of business is good for the
season at Omaha, Cleveland, Denver and
St. Paul, but is generally somewhat disap-
pointing. Complaints of dizziness in trade
and slow collections come from most quar-
tiers, though the supply Of money is at al
most every point adequate. In many cases
the diversion of capital to real estate oper-
ations some months ago causes considera-
BILE pressure.
The latest report of exchanges show a
decrease in the volume of business in COM
parison with last year of is per cent at
New York and 1917 per cent outside of New
York.
Foreign trade exports fall below last
year for June about So per cent, while inn
ports slightly increase. The value of eX-
ports for the fiscal year has probably been
about S697 100000 and of imports about
S722, 900, COO of consequence has gone abroad.
Uncertainties regarding the action OF con
gress are quite generally noted as cause
of dizziness in trade.
The failures for the half year ending
June 80 is more favorable than
the statement for the last
quarter, showing but a slight increase in
number in the United States and de-
crease in the magnitude of liabilities in
Canada, as follows: United States 1888,
first half failures, 51S9, liabilities SOS, 1l4,-
159; Canada, failures S72. liabilities Ss,S12,
422 First half of 1887, United States, fail
ures 4,9l3 liabilities $50, l3S,092; Canada,
failures 721, liabilities S10,693, 015.