The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1895-04-20

Avail--Iron and Steel Disappointing.
New York, April 1e.-R G. Dun &
Cos. Weekly Review OF Trade. which
issues tomorrow. will say: In every
speculative department the business
is growing but his is really the least
satisfactory feature of the situation
Cotton, oil and wheat climb above the
export price, so that the marketing OF
products abroad must be checked. and
money is absorbed which ought to be
emptied in productive industry and dis
tribution of products TO consumers.
Everybody knows that oil has not
risen 200 per cent because il is intrin-
sically more valuable, nor is wheat
actually worth more than il was two
or three weeks ago. but the expansive
and uplifting force has unfortunately
taken 10 speculation rather than TO
production and so We have higher
prices in all speculative markets with
out a larger demand for consumption.
Stories of combination between the
Standard Oil company and Russia, as
10 partition of the oil consuming terri
tory, by no means account for the
recent prices of petroleum which APP
There is no evidence that cotton is
in larger demand than il was when
the price was a cent lower but prices
have been so low for months that an
upward movement was very easy with
out much reason, though stocks here
and abroad are 100000 bales larger than
they We're at the same date after the
greatest crop ever produced heretofore,
and spinners here and abroad have
taken about l 800. 900 bales more than
they have consumed. The rise tends
TO prevent he decrease of acreage
which is its one reasonable excuse.
Wheat mas advanced over cents
during the past week. and the western
receipts are small. only i .002,s bushels
against 1.166.s29 last year, but Atlantic
exports for three weeks Of April have
only been 1856 4S1 bushels, flour inciud-
ed against $3.50, 500 last year. and there
is no indication that foreign demand
will increase. while the prospects FOR
this years crop are considered excel
lent. Western receipts are not large
and il would be strange If they were,
with prices so low but advancing. EN-
ports continue to indicate that the
European demand will not be particu-
larry heavy this season.
Outside of speculative markets. the
most important feature is the rise in the
price Of beef. but which is largely due
10 the control Of sources of supply by
few strong corporations. There ought
10 be, but apparently is not, sufficient
power in the hands of the government
TO meet any such conspiracy against
the public and the proposal Of Secretary
Morton TO admit Mexican cattle and
CATTLE from Canada on easy terms for
the benefit of consumers is heartily
commended, though it is not likely TO
have much influence. The actual de
crease in receipts of cattle al the four
chief western markets has been 200
head during the first quarter OF 1895,
and the quantity killed has been only
$4,000 head less than last year, about
10 per cent, but facts have little TO do
with prices in this case. as in the case
OF oil
In iron and steel, the situation is
rather disappointing, although the out
put continues large, as the demand for
finished products does not seem to in
crease. Structural forms are in large
demand, but sales OF wire are about
30 per cent less than last year and in
other branches there is no percepuble
gain. II is still an open question wheth-
er the consumption will support the
manufacture at the present rate, which
is at least an eighth beloy the present
maximum.
The cotton mills are encouraged by
improving prices and are fairly busy.
Sales of wool at the three chief eastern
markets have been 1854 900 pounds for
three weeks, of April against 1860. 500
last year. which indicates that the pro-
duction of goods is at present larger
than il has been at any other time for
nearly two years, and while foreign
competition is seriously felt in some
branches. the manufacturers are max
ing a vigorous effort 10 retain the home
market, even in lines which they at one
time expected to abandon.
Failures during the past week have
been 241 in the United States against
PIG last year; "a in Canada against 10
last year.