The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1895-06-01
GAINS ARE CERTAIN
COMMERCIAL AGENCIE SPEAK
WITH GREAT CONFIDENCE
Wheat and Cotton, Especially the Former,
Show Marked Advances, Though There
Remains Trace of Skepticism Regard
ing the Extent of the Damage Which
Csused the Advances--No Foreign Scare
on the Score of American Shortage, Yet
Iron and Steel on the Upward March,
Business Failures Increase-Bradstreet

New York, May 31-R. G. Dun &
Co.'S Weekly Review of Trade wall say
tomorrow: More far-reaching than
any other change during the past week
really warranted by facts, is the con-
tinued rise IN prices of wheat and cot
ton. Real scarcity Of either would af-
feet all business. Happily there is stiii
room to hope that accounts of injury
are generally exaggerated, although
there has been some evidence during
the week that both the great crops
have suffered more than at nrst APP
peared. Other changes are almost all
favorable, and there are highly en-
couraging indications that labor trouo-
les are clearly less threatening.
Monetary conditions are satisfactory
and the substantial increase in the
commercial demand ia a good sign. EX-
changes through the clearing houses
have been greately inflated by specula-
ton and at this time last year were
cut down by the coal strike and to-
ward the end of May, 1893, greatly re-
duced by bank failures, but for the
week exceed last years by 10 per cent
and fall only per cent below those or
1893, while the daily average for May
-b.S y
but IL less than in 1893.
Wheat is largely supported by public
buying and the purchasing orders from
farming regions are supposed to inGi-
cate an opinion of the yield. Yet wheat
come forward freely, as it would not
at current prices if a short crop were
assured, and western receipts for the
month have been 5,944,5zf bushels
against 5,525. 25S last year. Nor do At
lantic exports reflect increased haste to
buy abroad, amounting in four weeks,
-four included, TO 61S3,42G bushels
against 9,715. 097 vast year.
Cotton continues strong because 1t
Is believed there will be much reduc-
ton in yield per acre as we'll as in
acreage. No estimate based on definite
information puts the decrease in acre
age at more than 1875 per cent, which,
with a yield Per acre equal TO last
years, would mean a crop OF 100000
bales. The market has been acting as
If the future were known. The adj
vance this week has been only a six
teenth and it is supposed the stronger
spectators have realized The manu-
facture is doing well. though not all
the machinery is employed, but there
has been better, and there are occas-
ional advances in prices Of goods.
The iron manufacture is gaining rap
Idly and the average of prices, which
lidd 1dlASA SDl L, " bf-1 per tSIl
of the prices in October, 1891, has now
risen to 69.1 per cent, most of the adj
vance having been in May. Bassemer
pig has been lifted to S11.65 and grey
forge to S10.4G by the growing demand.
Tank plate steel is So per ton higher at
Philadelphia, and nail producers have
combined. raising wire nails to S115
and cut nails to 81 per hundred by car
loads at Pittsburg. The structural de-
mand is very large and while the buy
Ing in order forms Of iron and steel pro-
ducts is still conservative, great con-
fdence prevails that prices VIII here.
after advance materially. It is believ-
ed that the wage question will be set
tied at Pittsburg this year without any
strike.
The failures during the past week
have been 215 in the United States
against iS9 last year. and 81 in Cana
da against q last year.
DR.. Prices reign as king of baking
powders has been almost as long as
Queen Victorda's.