Western Kansas world. [volume] (WaKeeney, Kan.) 1885-current, 1889-06-29

NEW YORK, June ar. g. Dun d Coz
weekly review of trade says:
Anere Is a better feeling, with largel
Transactions in IRON and wool, and crol
piospects are now more favorable; but thu
agreement of railway presidents has no
prevented a renewal of strife, and the de
moraliation of rates is spreading widely
meanwhile the exports of gold will exceed
s4'eo.OOo. If the railway outlook continue:
10 discourage foreign investors, and The
banks begin the last half of the year Will
low reserves, gold going out, and large
crops to be moved, the monetary prospect
Will not be quite encouraging.
Trade is rather quiet at Kansas City. and
outside :of speculative operations and the
iron trade, it is generally dull at Philadel-
pima, but marked improvement is noted at
flttsourgh, and in less degree at Cleve-
land. The demand for money is rather ac-
tive there, but generally very moderate,
with collections on the whole not precepti-
bly, better. Rains have decidedly improved
crop prospects in the northwest, SO that
great hopefulness tinges all the commercial
reports from that section, aud the democrat
lzatlon OF railroad rates is commonly sup
posed to prompt better returns to farmers
while the difference in the cost of trans
porting eastern products to western con-
suners is already considerable throughout
the region north and west of Illinois.
The markets for manufactured products
are stronger and higher. In,coal recent hopes
have not been realized. 1t Is even stated
that the Reading Company has not received
single order at the late advance. and sales
below the schedule are reported at Phila-
delphia. Copper is unchanged, but tin is
lower at 20 cents, production having been
stimulated. Wool is rather stronger.
Wheat has been advanced ~ cents with
sales at 100000 bushels here during the
week. But this speculative movement
seems to take no action of the account
that wheat and flour, equivalent to about
40, OOO, 600 bushels in excess of a minimum
stock, will probably remain of the last stock
July l, added toe new supply, which prom
lses to exceed all requirements for the next
crop. Corn is = and oats q higher for no
other reason than because wheat advances.
Cotton has declined an eighth. A long ex-
pected break In coffee lowers the price ~
cents, with sales of 696, eco bags. But the
price is still 15 cents for December options,
against 81 cents year ago, and operators
wonder that the public does not buy. Pork,
lard and hogs are fraction lower, sugar un-
changed for this week and leather half
cent higher for some grades.
TIE general tendency of prices has
been slightly upward. The heavy ship
ments of gold this week are surprise to
many, and are attributed by some bankers
to the needs of the bank of France and the
large expenditures of the Americans at the
exposition. But the balance of foreiga trade
has been for months so heavily against this
country that no such explanation of gold
shipments is necessary.
For June thus far merchandise exports
from New York are IL per cent larger than
last year with imports somewhat smaller,
but even these changes would leave heavy
excess of imports over exports to be met by
shipments of securities or gold. At present
the temper of speculation does nat encour-
age the belief that foreign buyers will take
railway securities largely.
On the contrary, Generalization of rail-
road stocks is likely TO be followed by
foreign sales. The stock market is little
lower than week ago, but with great spec
ulative strength still shown in the stocks
which haye been controlled by powerful
The business failures number go, as COM
pared with $50 last week. and 225 the week
previous. For the corresponding week of
last year the figures were 2C4.