The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1896-07-25
GOOD TIMES ARE LONG COMING
Past Weeks Events Have Served Rather
to Make Bad Worse.

to Make Bad Worse.
New York. July A.-R. G. Dun & Co.'S
weekly review Of trade, which issues
tomorrow will say:
The week began with extreme depres-
sion in stock and speculative markets.
owing to the heavy outgo or gold and
the fail of the treasury reserve below
the minimum The Popuiist and Silver
conventions caused some apprehension
and large withdrawals of gold for
noa riding were rather feared than seen.
Then came a sharp recovery, with the
union Of banks to turn s20. 000. 900 of gold
into the treasury and of international
bankers TO control foreign exchange.
The gfiold reserve has been quickly list
ed above the 500, 900 900 mark and po-
litical events have helped TO clear away
apprehension Business Of all kinds
has bene considerably affected by the
the monetary conditions and is slow 10
improve.
The produce markets have been GER
ious depressed. lard making the lowest
quotation on record, corn falling to 32
cents, wheat TO 67.75 cents and cotton
to TIP cents. There has bene a slight
recovery in corn. sixteenth IN COTTON
and a cent in wheat. but the main cause
pecas of large crops. with heavy stocks
ON hand. Old corn is coming forward
at about double the rate a year ago and
sa far another big yield is indicated.
Wheat receipts at western points have
been 1929, 275 bushels in three weeks,
as against 4,4Ss,4f3 last year when the
coming crop, If Official reports are to
be credited, was larger than st is now
and Atlantic exports for three weeks,
-four included, have been 1858, 147 bush
els. against 2,252. 016 last year, a large
gain, but not enough to balance the in
crease in receipts. In spite of the con-
Trajectory accounts, the impression
grows that the crop may as much ex-
coed official estimates as it did lest year.
Nothing appears of encouragement in
the industries and there has been con-
siderable further decline In the work
ing force. The closing Of iron furnaces
continues, only tire out of eleven in
the Hahoning valley. and four or five
out Of sixteen in the Shenango valley re-
manning in blast, and yet prices fan. as
unsold stocks are the largest ever known
while the demand Is remarkably light
Southern No. l at the east is nominally
s11.25 and Pennsylvania s12. with Besse-
mer s11.75 at Pittsburg and Greyforge
SSi Uul CNctl anu PftSCS IOi
finished products, are shaded to secure
business. The general decentralization
Is partly due to the growing belief that
the large combinations which still hold
up prices cannot hold them long.
Nearly al iwire and wire rod mills are
closed Sales of nails are small. Bar
iron at IL cents is being largely SUPER
oeded by steel at Los cents. Open
hearth billets are offered below besse-
mer. The demand for rails is very
hight and the great structural works at
Homestead Will go on half time unless
orders this week are better. Minor met
ais are also weaker.
Textile industries are rapidly reduc-
ing working forces as the prospect for
future demand does not grow clearer.
and while prices are nominally un-
changed, 1T IS because there is little
chance OF business at present. The
state Of woolen manufacture appears
in sales OF wool nthe chief market for
the week, the smallest ever known, only
1870, $50 pounds, Of which S42.050 were
domestic, against 10.301 $50 last year,
Of which 6,291, $50 Were domestic. Prices
do not nomnially change but are shaded
20 make sales and western markets are
weakening some, though still higher
than the eastern Leather is inactive
and hides at Chicago average per cent
lower for the week.
Failurs for the week have been PSI
in the United States, against 2o2 last
year, and 20 in Canada, against q last
year.