The Wichita daily eagle., 1894-03-03
R. G. DUN'S REVIEW,

NEW YORK, March with no more def
mite information than a week ago regarding
the outcome of financial or revenue disputes,
perhaps more people have come to the belief
that the end will answer their wishes Ger
tainly rather more are taking limited risks in
business, especially in stocks. A substantial
basis is the slowly growing demand for goods
caused by ihe gradual expansion of stocks
held by dealers, and this has further en-
larged the working force in manufacturers.
More works have resumed or increased hands
or hours than have stopped or reduced. but
numerous reductions in wages continue to
lessen the purchasing power of those at work.
The demand of distributors is almost eX-
clusively for medium or low prices in wooden
and cotton goods, for 81 JOa3 90 boots, and for
shoes rather than boots. Some statesmen and
traders find indications that stocks of the
higher priced goods remaining on hand are
much larger than usual. The bankers judge
that much of the demand for commercial
loans is virtually for renewals to carry such
unsold stocks. In all branches of the wooden
manufactures the demand is yet for below
the usual market, but 1t is somewhat inn
proved in worsted and dress goods. and lead
ing mills have been taking wool quite largely,
SO that in three chief markets the sales have
been 1893, ,497 200 pounds for the week. against
$50, 200 pounds last year; in part because
scarcely any foreign woods has been imported
for months and supplies are short. Western
markets were also broader without improve
ment in price.
Continued weakness appears in prices of
metal products, notwithstanding some in
crease in actual business. Pittsburg offers
steel bars here at 81 Is. which is only l cent
at the mill. Plates are offered at 81 D at tide
water and beams delivered here at 81 80.
Moderate orders for cast pipe have been
placed and some large structural contracts,
with others expected. Even in the Pitisburg
region little over half the force Is employed.
and only 81 per cent or the Connersvilie coke
ovens are yet in operation. A few more fur
naces are in blast; southern pig is weaker and
5000 tons southern warrants have been taken
by English holders who now have % 900 tons.
There are heavy transactions in Lake ores
at PittSburg, and it is said that with ore at
So -. coke at 50 cents and wages reduced 20
per cent many furnaces can make iron at n
profit even at present prices. Minor metals
are weaker tin in particular, because of the
fall in silver and disorganized eastern ex-
changes, and lead because of expected legisla
ton.
Receipts and exports of wheat for the week
have been only about half last years while
there is a great increase both in recei pts and
exports of corn, but scarcely any changes is
seen in prices of these or other products.
Railway tonnage from Chicago was but Il
per cent less than last year, against S5 per
cent for February.
Imports of merchandise still show a de-
crease of 10 per cent, while exports OF domestic
products for three weeks are > per cent larger
than last year.
The bnying power of the people is necessar-
ily restricted with many works idle and
wages much reduced and apprehensons for
the future cause general economy. The most
encOurag ging feature of the weeks record is
the continued decrease in the number and
importance of failures. Eor the third week
OF February liabilities thus far reported are
only 50 SOC :46. and for three Weeks of the
month only sll,420,4lS. of which S5.049. .S4T
were of manufacturing and IS. ,693 of
trading concerns. The mum Der reported in
February is .a6o against 2.oS0 in January and
the full liabilities were probably less than Sl5,
900 .OoO against $50 946. .i97 in January. In No
vember and Decem ber the amount exceeded
$50 900. COO For the past week the failures
have been 264 in the United States, against
2o6 last year, and ~ in Canada, against 10 last
year, scarcely anything of Importance.