The Wichita daily eagle., 1894-02-17
RECORD BREAKING WEEK.
Lowest Prices for Cotton and Iron Ever
Known.

| New YORK Feb 16.-R. G. Dun's report to-
morrow will say: This has been a week of
record breaking. In wheat, in silver, in some
| forms of iron and STEEL in Connelsville coke,
and in well known cotton and woolen goods. the
lowest prices ever known have been made and
it is gratifying that failures of Importance have
not resulted
While no action, especially affecting busi-
ness prospects was taken at Washington, the
continued discussion of revenue and monetary
| measures, and the uncertainty regarding them,
have a constant unfavorable influence and in
different markets have caused fluctuations in
price.
Wheat at sos cents is not only lower by Al
cents than it was for single day last year. but
lower by IA cents than it has ever been in the
previous seventy-seven years. A visible supply
of over 100000 bushels Feb. 10, with sales and
receipts from farms continuing large, has COM
pletely destroyed faith in the official reports of
the yield last year, and caused enormous
liquidation. Receipts last week were but l.SlO.-
3lf bushels against 90l ,04S for the same week
last year, but Atlantic exports were only 659 962
bushels. against 1,013,0l0 last year, and the re-
cent decrease in foreign demand has been an
important factor. Some trust companies have
arranged to advance money against wheat
collateral security, but with results not yet
encouraging
Cotton declined an 4 with increasing dis
trust OF short crop estimates. The receipts
from plantations this week have been larger
than year ago, and at no time small enough
to support the idea that the crop of 93 was but
6,650,UI0 bales which would mean that less than
5OO,UJ0 bales Is yet TO come into sight in six
months The slight recovery in prices of iron
products has not been maintained Bessemer
pig has declined at Pittsburg to $40 65 and grey
forge to 50 65, and steel billets are sold below
81 -, while at Philadelphia most rolling mill
products are lower than ever.
shipments of boots and shoes from the east
are - per cent less than year ago with cheaper
grades predomInatlng in orders and in manu-
factures, and not many factories fully employed.
The textile industries do not seem to have
gained within the past week. There has been
sharp break in print cloth to 81 cents, and
some of the best known cottons have been put
at the lowest prices ever made and there is
more talk of general closing of mills. The de-
mand for woolen goods does not improve and
sales of wool decreased sharply after the brisk
activity two weeks ago being only 1851
pounds for the week. Though some grades are
scarce and prices relatively higher west than
here the markets do not advance.
Exports of merchandise were about $4,000
smaller for the week than last year and for six
weeks the increase has been only S:iI 0O0O or
IA per cent. but imports last week were little
more than half as large as last year and for the
year thus far the decrease is about ~ per cent.
Failures for the week have been 325 in the
United States. against III last year. and - III
Canada, against % last year. Though several
were of some magnitude the aggregate of Iiabil-
tiles was apparently below the weekly average
for January.
For the week ending February the liabilities
thus far reported were only S4,09ID9i. with
nearly complete returns for January. the aggre-
gate liabilities in 2,080 failures is s0,9i6i97.
with nearly complete returns for Januery; the
aggregate of liabilities in 900 failures is 3d..
i649I, of which S1l ,6H ,3J5 was of lnanufactur.
ing and SIS, 1873, fl6 of trading concerns