The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1896-02-15
BUSINESS IS SLOW
WEATHER, CLOSE MONEY AND AN
INACTIVE CONGRESS.


Business in the Metals Not Specially En-
courasing. With Symptoms of Produc
ton Being Still Overdone-Boot anc
Shoe Factories CIosed-LIttse Change ii
TeXtiles-Smau Sales OF Wool-CIothier.
Defer Orders-Produco Markets Tend
Downward-StiII, Dun's Says, There is
New York, Feb. AR. G. Dun & Cos
weekly review Of trade, which issues
tomorrow, will say: The weather still
binders business, as does the contin-
ued closeness of money and the pro-
longed inaction of congress, but conf
dence increases.
The production OF pig iron, 1883 tons
weekly February II, is 4.62 per cent less
than January ! and So per cent less
than November l, while the unsold stock
Increased s., 1873 tons in January, Show
ing an output much exceeding the pres
ent demand. Pig iron at the east and
at Chicago has not advanced, southern
competition continuing at prices so low
that several Alabama furnaces have
stepped, but bessemer is a shade lower
az Pittsburs. The demand for plates,
sheets and wire nails continues fairly
good, and there are more orders for
railroad cars and bar iron at Chicago,
but No further sales of rails appear,
and the demand for finished products
keeps about &c per cent Of the capacity
employed The coke output is again
much reduced. Copper is d shade fiji
n2er al 1914 cents, while tin arI lead
are net active, and unchanged.
The demand for boots and shoes is
still disappointing. Several factories
have closed ana few are working full
time, belief in lower prices still prevail
ing, although further ,=ductions have
been made in most lines, amounting
since January l to per cent. Some
makers get good orders for Wonlens'
light shoes, but others scarcely any,
and Boston shipments thus far are
p per cent less than las; year.
Textile work shows lille change,
though the cut IN print cloths TO %
cents and a general CONCESSION IN brown
and bleached staples, averaging for the
whole list quoted six per cent since
January l, induced more buying, which
the known accumulation Of goods
ahead Of demand has hindered Many
mills are reporting great profits last
year from the rise in cotton, but the
prospect of larger crop this year does
not promise repetition of such gains.
Though goods still average 12.7 per
cent above their lowest point last year
cotton is now Il per cent higher than
oil Of,
small for two weeks of February, g.
100000 pounds, against 10,26O,55O last
year, and 12,502. 800 In 1893, but higher
prices abroad, sustained by heavy ship
ments Of goods 10 this country, incline
holders of wool here to make no conces-
sions, 50 that manufacturers have the
more difficulty in meeting competition
Many cancellations Of orders for clay
worstedS and mixtures are reported
since the reduction in prices. Clothiers
who have still to carry large unsold
stocks OF dealers, as well as their own,
defer orders.
Produce markets tend downward,
mainly because supplies exceed expec-
tations. Wheat has declined q cent
with western receipts 1922, 800 bushels,
against S75.199 last year, while ATTAIN
tic exports for two weeks have been
only S,639,l95 bushels, against 2,721 ,3H
last year.
Corn is a shade lower and both pork
and lard a little lower. Cotton re-
ceipts were small but spot cotton has
declined an eighth cent for the week
Failures for the week have been 321
In the United States, against 27O last
year, and g. in Canada, against 81 last
year.
TRADE REVIEW.
New York, Feb. 14-Bradstreets
will say tomorrow: The general bust
ness situation throughout the country
does not meet anticipations, and except
at a few cities-Baltimore, Pittsburg.
n the east; Chicago, St. Louis and
Omaha at the west, Galveston, Chat /
-an0Oga and Atlanta at the south
-emains dull for the season, In most I
instances disappOintingly so. I'm /
Drovement in demand and prices is /
confined TO hides, leather and boots .
and shoes, which are conspicuous in /
ne short list Of staples for which pric- ,
IS are higher
Fea tares Of the situation are those
-esulting from unfavorable weather (
last and in the central west, reaction
II prices Of steel and iron, further COM
plants by wool manufacturers, an out
ook Tor more idle wooden machinery,
smaller total of bank clearings, con-
inUed stiffness and maintenance Of
;gh rates for loans. Notwithstanding
y faVora ble differences drawn from
ne heavy over-subscription to the
government bond issue, and restriction
reduction of pig iron.
Exports Of wheat (flOur included as
vheaD from both coasts Of the United
states this week amount 10 2,71S,000
bushels, against 100000 last week, and
Is compared with 2.572,GJ0 in the week
me year ago. 2.OO5.000 in the week two
-ears ago, @.0S0000 three years ago and
IS cOntrasted with 4.042, 600 in the cor
week of 1892.
The total number OF business failures
throughout The United States this week
5 3Sl. an exceptionally large number !
he gain IS compared with last week
,eing IS Most Of the increase is eN-
Dlaired by returns from the central
western states and the Pacific coast. I
There are s. more business failures
his week than in the second week of
1895; % mere than IN the cor
week Of 1894. ana 176 more
han in the second week Of February
SsS, while as compared with the second
week of February 1892, this weeks IN
rease is 12l.
DRY GOODS MARKET