The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1895-02-02
HELP WAS NEEDED
PAST WEEKS BUSINESS ALMOST
DOWN TO BED ROCK.
Weeks Close Better In View of The Bond
Issue-January Gold Exports Heaviest
Ever Known In q Single Month. Prices
Of Commodities Lowest-MOney Con-
tinues to Drift to New YOrk-Large Wis.,
ible Wheat Stocks Depress Wheat-Cot-
ton Close to the Lowest Record-Output
of Metal-Bradstreet's Review.
of Metal-Bradstreet's Review.

New York, Feb. 1.-R. G. Dun &
| Co.'S Weekly Review of Trade which
issues tomorrow will say: Things took
better near the close this week because
it is believed that a new loan will be
negotiated. There was need for re-
lief, since January closed with the heav
lest exports of gold ever made in any
month and the heaviest Withdrawals of
gold from the treasury, s43, 46S, 10S, the
hope of new loan being the one thing
which has lifted prices during the past
few days. January leaves behind it the
lowest prices for all commodities ever
known; for cotton, iron and its pro-
ducts, wool and silver, the lowest
monthly average ever known; and for
wheat a range above the minimum but
yet declining rapidly toward that
point. Industrial operations have not
materially diminished, though it has
been disappointing month because the
revival expected has not come.
The continuing drift of money to New
York shows scanty commercial de-
nland in the interior and no improve
ment appears here in commercial
loans. In short, business is still wait
ing and finds reason for hesitation in
the condition Of the treasury.
Speculation has not favored produc-
erS. Wheat was a half cent lower but
western receipts were only 1,226,012
bushels against 1,579,217 last year and
with exports larger than last year
might have helped prices had not the
2 cents lower with receipts about half
and exports not one-eighth of last
years. Cotton declined sixteenth
and is close to the lowest point ever
touched, with an average of only 5.7014
cents for January. The movement con-
tinues large and the maximum crop es
Inmates are encouraging but there is
age may help the planters. Neither
here nor abroad does the manufacture
promise nearly the maximum output OF
consumption.
Silver has been weak and for the
month has made slightly the lowest
average ever known, the output in 1894
bein reckoned by Wells Fargo & Co. at
SIS, 72l ola, or 4b,5SS.911 ounces. The de-
crease was Il per cent while the in
crease in gold was So per cent. Iron
and steel look less encoura ging at the
east and the demand Is disappointing
although the prices are not less.
AtPittsburg and the west large de-
mand appears particularly for wire
and wire nails which do not change in
price as yet, WnlIe DeSSrner iron Is %
cents higher. billets little stronger
and gray forge 10 cents lower. The
structural demand is good but prices
are shade lower, and while the market
for bar has been unusually good, prices
do not lift. Considerable contracts for
cast pipe have been taken or are pend
ing, but In the aggregate the business
since Jan. has not answered expecta-
tons.
TXtile manufacturers cannot score
improvement for the week for, though
print cloths have advanced shade,
the demand for other cotton goods is
only moderate and prices are unusually
irregular. The opening of mems WOOL
ems has continued with even more
general declaration of belief by the do
meStic manufacturers that they can
sustain themselves in medium grades
and in worsteds but in the finer grades
much hesitation appears and in the
lower grades the extremely low prices
made by foreign dealers seem to threat
en- the manufacture. Wool Is so low
that large sales for possible futures
continues. The total at the chief mar
ketS for four weeks has been %, 151 ,065
pounds against 25, 727 $50 two years ago.
Failures for the past week have been
354 in the United States against $40 last
year, and fifty-four in Canada against
ffty-two last year.