The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1895-06-22
IT NAY SLOP OVER
FEARS EXPRESSED REGARDING THE
TIDE OF PROSPERITY.

Business not Equal in Volume to that of
1899. but In Some Important Branches
is Larger than for any Other Year
Wheat Crop Reports More Encourag-
ing--Cotton Promises at Least Seven
and Half Million Bales--Genuine
Scramble for Iron and Steel Business
Failures--Brzdstrees's Review of Trade.
New York, June 2l-R- G. Dun & Cos
Weekly Review of Trade will say to-
morrow: From all parts Of the United
States the best advices obtainable tel
OF a rising tide Of trade and industry
which threatens here and there 10 am
cunt too far and too fast. The vol
Ume of all business is by no means equal
10 that Of 1892 as yet, though in some
important branches it is larger than n
that of any other year. The influences
of tremendous power contributing to
the rise are encouraging crop news and
confident replenishing Of stocks which
have been for two years depleted 10 the
utmoSe.
Excepting too heavy rains in Texas
crop reports this week have been high
ly encouraging. Future injury 10 cot
ton cannot be predicted but as yet moth
ing indicates yield below 100000
bales, which is not supposed 10 threat
en- famine if the commercial and mill
stocks We're remembered, now exceeding
by 2 500, 600 bales a full consumption I'M
Ill September l. Receipts continue
small and consumption close TO the
maximum here and abroad, though the
marketing OF British goods Is not en-
tirely encouraging. Liberal purchases
of all products by the south do not indi-
cate the belief that any serious misfor-
tune impendS.
So, the stronger trade in wheat grow
ing states accordS with brighter crop
prospects. Reports from spring wheat
growing states and from the Pacific
coast are so cheering that although the
loss Of winter wheat was large there,
those whose estimates have been most
accurate in recent years, now vary in
predictions from 43e, 900. 900 to 40. 200 900
bushels. Atlantic exports for three
weeks. flour included. have been only
3..5S. rs bushels against 6,006.2S2 last
year, indicating no urgent demand at
current prices. There has been a fall Of
6 cents in wheat, with heavier sales
than for three weeks.
The rush for supplies Of iron and steel
resembles a bear panic" in the stock
market. Because prices are mounting
everybody hurries to buy, so that they
mount higher. Bessemer has reached
Sl2.65 at Pittsburg; the Bar associa-
ton has advanced common TO 81. 10: the
Wire Nail association has put their
prices to $50 per key; the steel rail
makers have raised the price to $2i;
eastern and southern furnaces have
both raised prices again fifty cents per
ton and structural beams are s1.35 and
angles s1.e5. 1t is undeniable that work
in operation are crowded with orders
and others who have been idle for
years are preparing to resume. At the
same time the most potent cause of the
upward start in prices, the general be-
lief that a combination of coke prOduc-
ers would raise the price to ..150 after
July I, is APPARENTLY removed by war
among the producers and n fall TO s1.25
in contracts for the last half of 1895.
Failures for the week have been 22S
In the United States against PA last
year and 81 IN Canada against % last
wear.