The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1895-09-07
BOOM PRICES WILT
DUN'S REVIEW SAYS THERE HAS
BEEN NO REACTION.
All the Reaction there has Been has Been
Against Too Rapid Advance In
Prices-Hides, Coke, Wheat and Wool.
AL Now Adjusting Themselves to the
Facts Of the Business Situation-Iron
and Steel Demand Continues Unabated.
Being the Feature of Trade with Cotton
the Perplexins Observation-Disclosures


Being the Feature of Trade with Cotton
the Perplexins Observation-Disclosures
New York, Sep. 6.-R. G. Dun & Co.'S
Weekly Review of Trade says: There
is no real reaction in business. Gains
which were recognized as temporary
are vanishing but there is decided in
crease over last year at this date, al
though prives average SIS per cent low
er than a year ago. 1t needs no keen
observer to see that the reaction
against the rapid advance of prices is
strong. Hides We're the first TO rise to
but decided break has come. Coke
was suddenly raised TO 81. 40 but has re-
Gently sold at s1l0. Wheat jumped
over 20 cents TO 81 but is now slow of
sale a t 60 cents. Wool was ate in ris-
ing but has lost about one-eighth of
cent in average price within the past
fortnight Iron still rises, the strike
having hindered shipments of ore but
with troops guarding, the ore begins
TO move. Cotton is strong but has
paused. The general tendency to cur
tail purchases whore prices have nota-
bly, advanced grows clearer in boots,
and shoes, in wool and in some prod
ucts of iron.
The combinations have again ad-
Vanced prices of iron 81 per ton and of
wire nails 20 cents per keg while bes-
sener IS quoted at $40 at Pittsburg
and eastern manufacture from import
ed ore mas again commenced 10 sup
ply western consumers. Special causes
are The wholly unprecedented bridge
building, the continued demand for
building in cities and heavy ship build
ing On the lakes. Consumption al
ready hesitates and railroads have not
much expanded their demand for rails.
Copper is also a shade weaker with
large supplies; tin, with 26.390 tons in
visible stock domestic and foreign; and
lead, with sales of 1,500 tons domes-
tic.
In the boot and shoe industry many
shops are discharging hands and in the
wooden manufacture a few works are
closing for want of orders.
Sales of wool, which averaged TO-
100000 pounds per week when great
speculative stocks were being taken,
have shrunk to 5,3S0500 for the week
against 1865, 800 for the same week in
1892.
The brightest feature in all the hori-
zon is the certainty that the crop of
corn will be enormous. Frosts can
now only affect a small fraction and
the surplus will go into the manufact-
ure of meats because at 35.T cents at
New York, nearly cents lower than a,
week ago, there is no other profitable
use for corn
The latest crop reports of wheat
thresning induced the best western
judges to raise their estimate of the
yield over 10000. 900 bushels and with
450,0o0,000 bushels added TO 7000O,OO
bushels brought over, the supply will
exceed all probable demands. Allan
tic exports have been only 1,347.352
bushels, -four included. against 2,799.-
$50 last year. Pacific shipments con-
tinue large.
The one farm product which has
been strong because certainly short in
yield rose from $40 cents for spot cot
ton last week to S.25 on Tuesday but
has since been weak in spite of con-
certed official statements that the de-
crease is 50 per cent in some states
and 81 per cent in Texas. The public
observe much organized and skilled
labor in these reports and also sees
what many spectators refuse to see.
the 5000, 900 bales old American brought
over. 1t is earnestly hoped that SOU
thern agriculture has not sustained
so great a calamity. The annual re-
ports showing larger yield last year
than has been supposed only indicate
that more cotton NUT remain in the
country besides the unconsumed stock
abroad. A quiet market without much
change of prices for a time would be
a blessing to the south.
Failures for the week have been 1S6
in the United States against 219 last
year and in Canada 3S against AZ last
year.
TRADE REVIEW. !
New York, Sept. 6.-Bradstreet's to- |
morrow will say: Favorable crop re-
ports from nearly all directions and !
a continuance CT the boom in steel and |
iron continues to characterize the gen
eral traie situation. Latest advices rs |
10 cHI( crops have replaced anxiety |
with confidence in the larger estimates |
Of the size of that crop and satisfaction |
with the outlook for trade this autumn. |
and threshing are interfer- |
ing little with business in the spring |
wheat country. Duluth. Minneapolis |
and st. Paul jobbers in general lines are |
pushing for new business. In South |
Dakota and Washington farmers show |
no disposition 10 sell their grain. Cal |
ifornia reports perfect weather for har-
vesting. The dark side 70 the crop I
outlook is found in Texas where worms |
are said To have seriously damaged |
cotton in some sections.
Iron and steel prices have advanced 4
from 81 further and the demand at this I
time continues in excess Of the output |
which probably almost equals the 1
large preceding rate of production. !
All finished products are beginning 10 /
show the effects Of higher prices for |
raw iron and steel in corresponding /
! x-.r nd
have orders 10 keep them busy into 1895 1
aud refuse 70 name prices for future /
Apparently every mill and I
furnace in the country is at work and !
the fiscal year Will probobly break the |
record OF production. As nearly all 1
ron makers bought a years supply |
IF ore az lowest price. advances in |
wages and other items Of cost to manu-
factureers have been more than equal |
ed by the advance of prices. Diver
sity of demand and certainty Of heavy |
requests yet To come forward. point /
to the iron and steel boom as the
greatest on record here.
Actual gains in the volume Of general
trade this week are recorded at Seat
tie and Tacoma on the Pacific coast,
81 Louis and Kasas City IN the west
Duluth and 81. Paul in the northwest
and at Chattanooga, Augusta and Mem
phis at the south.
Exports of wheat from both coasts.
United States ed Canada. this week
amount 70 2.2s0.000 bushels against l.
~ ais bushels last week. 500. 600 bush
sls in the week a year ago. 1 SOC O'00
bushels two years ago. 1885,. 900 bushels
n tire week in lSS2 and 4.12s Go bush
is in the Ike week in 1871. Indian
scrn exports continue 70 expand. IN /
he third week Of August the total sent
1ut was 1850 bushels. in the follow
ng week = was 1.i24.00 bushels and
his week il Is ! so5 90 bushels the
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