The Wichita daily eagle., 1896-01-18
TIRED OF WAITING
DUN & co. CRITICISBS THE GOV
ERNMBNl'S ACTION.
There is Complaint Among Business Men,
Not Only That the Loan Situation
Leaves the Money Market in Unstable
Equilibrium But That the Failure of
Congress to Act on Revenue Measures
Leaves Importers and Manufacturers
Blind-Besides These, Other Matters
Making for a Dubious Outlook.

Blind-Besides These, Other Matters
Making for a Dubious Outlook.
| New York, Jan. 17-R. G. Dun & Co.'S
weekly review of trade, which issues to-
morrow, will say:
The situation could hardly be more
| perplexing for business men. Practical
merchants, manufacturers or bankers
can have little sympathy for those who
minimize their difficulties. None doubt
that the government will raise money
to meet its obligations, but how far the
money market will be disturbed or the
treasury reserve first diminished, no one
! can say. The business world cannot
know as yet how far foreign questions
may upset calculations, though there
! seems every reason TO expect a peaceful
| settlement. 1t cannot know what may
be the duties on any import in the i'm
portant class of imports month hence,
| whether imports are likely to exceed ex-
ports and draw away gold, whether the
deficit of revenue Will continue, or what
| other taxation will be levied. Failure of
| the senate to take any action upon the
| financial measures proposed by the pres
| 1dent or those passed by the house af-
fects unfavorably all branches of busi-
| ness. Under such adverse circumstances
| 1t IS actually encouraging that shrink
age in transactions and resulting COM
mercial disasters have not been greater.
| But four large failures within a day or
two indicate that the same condition
| cannot continue without much embar-
/ raSSment.
Speculation in products was not very
| active, and wheat was practically un-
| changed, though Atlantic exports for
| two weeks, -four included, have been A.
| 4S3,190 bushels, against 4,273,12 last
| year. Wheat receipts still make short
crop predictions ridiculous, amounting
| for two weeks of January to 5,42l $40
| bushels, against 2,559,1 last year Corn
receipts were also liberal and exports
about five times last years. Cotton re-
! ceiptS still indicate a yield nearly as
| small as Mr.. NeiliS reiterated estimate
of 6,5O0,000 bales, but it is yet to be seen
] whether supplies held for better prices
| are Of consequence. The price declined
an eighth cent with accounts of narrow
er demand by Spinners abroad and de-
| clining prices for goods in this country.
No branch of manufacture has pro-
! gressed, for all are unavoidably wait
| inb, both for settlement of financial
doubts and for a demand which does
not yet appear. Cotton goods are not
quotably lower, but concessions to Sc
cure business are reported in many
cases, and many of the mills have been
running largely in anticipation of orders
not yet received. There is a little better
| inquiry for staples, with indications that
dealers stocks are running low. The
| opening of fine and fancy wOolens has
| brought no change in prices, and revis-
| ions caused by recent openings of wors-
| teds have been generally lower prices.
! There has been some abatement in de-
mand, not enough to keep most of the
! mills from running full Sales of wool
! in two weeks have been 4 1894. 800 pounds
! domestic and 6,S6230 foreign, aginst
6,269,615 domestic and 4,410,200 foreign
| last year.
! The pig iron output, weekly, January
/, was 207, ,4S1 tons, a decrease OF 1915
| tons. or 43 per cent, in December and
unsold stocks increased 81, ,125 tons, or
I over 20, 900 we0ekly, while the great steel
companies whose stocks are not report
ed produced in December 342,926 cons
The production is so far beyond the
present demand for finished products
that temporary stoppage OF mank furn-
aces is expected. Yet pig iron is higher,
Bessemer about 80 cents, and greyforge
and anthracite % cents, although fin
! ished products are generally weaker,
! with less demand. Controllers of the
| coke and or eoutput are said TO have
agreed to maintain prices above those
! of 1895, which makes dearer pig iron,
but it orders for finished products do not
materialize, the increased advance in
materials can hardly be maintained.
! Minor metals are weaker, with copper
! at 1915, about 5000 tons at cents and
| tin at 13 cents.
Failure sfor the past week have been
much larger in magnitude, numbering
| 395 in the United States, against 3I5
last year, and 81 in Cadana, against 81
| last year.
BRADSTREETS TRADE REVIEW.
New York, Jan. 17.-Bradstreet's will
say tomorrow:
While the general trade has not shown
a wide spread tendency to revive from
the holiday depression, there are favor
able features in a revival in iron and
steel prices and continued heavk cereal
exports Reports from Baltimore, New
Orleans, Buffalo and, in certain lines,
from Chicago, St. Louis, st. Paul, and
Minneapolis jobbers in staple lines, re-
port business low. Travellers are on the
road, but returns are irregular. only in
a few instances indicating the usual vol
ume OF orders for spring delivery Re
| latively greatest Improvement is shown
in the request for dry goods, clothing,
hats and shoes. Prints and ginghams
are only fairly active, with the mills at
work in spite of the reduced demands.
Exports of wheat (fiour included as
wheaO from both coasts of the United
States were 100000 bushels this week,
5 compared with 3.710,000 last week. g..
564. 900 in the week year ago. 3.333,0G
in the week two years ago, and 1851 900
bushels in the third week of January,
1898.
Business failures in the United States
for the week number 4l2, as compared
with 446 for the previous week, 81 FOR
the week last year, and 404, 290 and 4o5
for corresponding periods IN 1894, 1898