The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1895-08-31

Strengthening Out Their Financia
snaris and the Temper of the World OF
Labor is Decidedly Better-Iron and
Steel Advance Almost Alarmipgly-
Wool Hoisted by Speculation-w Wheat
and Corn Lower-Cotton Rises.
New York. Aug. 30.-Dun's Review OF
Trade tomorrow will say: Crop pres
poets, except for cotton, have some
what improved during the week. I'm
portent steps toward Reorganization
Of great railroads give hope to invest
ors. Labor troubles are for the mo-
| ment less threatening and some of i'm
portance have been definitely settled
The industries are not only doing bet
ter than anybody had expected, but
are counting upon a great business for
the rest of the year.
The advance in prices Of iron and its
products has added about 81 per ton
more in single week 10 the price OF
Bessemer iron at Pittsburg, and yet
the great steel companies are buying
wherever they can, while the air is full
of reports that this or that finished pro-
duct will further advance. Many Of
lllc dDlcSl men lNlS RAPID rise,
not that Ii may expose some branches
to foreign competition, and urge that
consumers begin TO hesitate. But the
various combinations which now con-
troll many iron products have so sue
seccfully lifted prices thus far that the
market seems to lack the restraint of
individual caution, and meanwhile
holders Of large quantities for future
sale or delivery want to get all they
fr~ i -
on old or new orders, appears large
enough to sustain all advances yet
made, and strikes of ore handlers and
Marquette miners cause fear that sup
plies OF BeSSemer ore may run short.
Copper has been so far advanced that
large quantities of American ore COM
ing back from Europe, though the price
is held at 12A cents for lake. Lead is
still s3521s, though the production in
the first half of 1895 was 105.910 tons,
with increasing stocks from 3,15S tons
in January to SSH tons in July. Coke
is demoralized with sales Of S1.10 per
ton.
Wool has been speculatively hoisted,
so that sales have fallen below last
years, in August 23,2O0. 400 pounds, Of
which 10.902 900 were foreign against
52.7S4.S50 last year, Of which only A.
529, 200 were foreign. The demand for
Oi cS,S SOOdS IL sum &c anu sunni Noh"
cellations OF orders for foreign mems
cloths are reported because goods do
not come up to samples. AT the same
time the receipts from abroad contine
heavy, and the utcome is so far IN
doubt that manufacturers are not buy
ing beyond their actual needs.
The prospect for wheat has hardly
improved this week, although the price
has fallen u cent. Western receipts
cod hY,r only
1906 05 bushels against 6.42S.294 last
year, and Atlantic exports are only
1,373,356 for the week, flour included,
against 3,27l,l1S last year. In the past
four weeks, Atlantic exports have only
been 4,36S,5S9 bushels against n,10l ,S53
bushels last year, and this alone is
quite enough to explain the failure to
maintain the sensational advance In
prices which soon checked the out-go.
Corn is coming forward more freely.
and the September price has declined
4 cent. With the promise of great
crop, pork and lard are shade lower.
Cotton is rising as if there were no
surplus of 5000 900 bales American car
ried over to the new crop year, which
begins with next week. Weather ex-
ggerated or not reports of injury have
impressed traders and purchases in
three days here amounted TO 955.SO0
bales. The price has advanced 10
$40 cents. and as there is no large sup
ply of actual cotton available at this
time the market price can be easily
moved. But if the yield is as short as
buyers believe, it is not good sign for
business men at the south, since the
abundance of old cotton in foreign
markets must hinder exports at high
prices during the very months in which
planters are forced to sell most of their
product. Already dispatches indicate
that the retail trade at many south
ern points is slack.
Failures for the week have been 1S6
in the United States against 1876 last
year, and forty-two in Canada against
forty last year.