The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1897-04-10

Quarter in Several Years Past - Whea
Markets Collapse Explained - CottoI
Prophets Warned by Last Years Ex
perience Bradstreets Review of Trad
New York, April 9-R. G. Dun & Co..
weekly review of trade will say:
Out Of 1905 failures, with liabilities o
$50, 752,561, in the first quarter, seventy
four banking failures covered more thar
a fifth of the amount, S12,744,65o, anc
3.345 failures, liabilities of S35.947,S92, OF
nearly three-fifths, are classified this
week according to branches of business
leaving only $50 failures and less than
a fifth of the liabilities. s12,060of9, ii
branches of manufacture or trade not
specified. Only two Of the thirteen man
ufacturing classes, and only four Of thir-
teen trading classes show liabilities fol-
the quarter larger than last year, and
only five manufacturing and three trad
ing show larger average liabilities. Fol
the month OF March, only three manu-
featuring and four trading classes show
~ two manufacturing and five trading
show a larger average of liabilities. Ir
almost every case, also, it is shown that
the increase ia due TO one or two excep-
t,onaliy large failures in that class. The
returns, compared with those of previous
ready, and a bright prospect for more
hereafter.
A sudden collapse in the wheat mar
ket, exceeding three cents, in a day, APP
pears 20 have no other cause than a be-
lated perception that past accepted es-
Inmates of yield and consumption, Off
cial and otherwise. have been mislead-
ing. Floods and other unfavorable wea-
Their for seeding have no weight. Elk
pecJation Of great scarcity and higher
prices burst like a bubble and for time
tie only support was the taking of prof
It's by spectators for fall. Receipts
have no warranted hopes of great ad-
vantage, nor do they now warrant much
expectation of a decline. Western re-
cei2ts are smaller than last year. and
Alta fic exports are not large, though
owe so per cent larger than year ago.
CT n receipts continue heavy and ex-
FITS for the week were g. ,337 bushels.
against 1,142,710 last year, and against
4 Atlantic exports of wheat amounting,
flour included. to only 1.52l,122 bushels,
against 967,533 last year.
In spite of floods, which must have
materially affected the prospect, cotton
has only advanced an eighth during the
week The fate of those who were alb
solulely certain that the crop of 1896
was very short, has left but little con-
fdence for further speculation. Receipts
thus far still indicate a supply of Amer
lean considerably greater than has ever
been consumed in one year, but uncer-
tainty about the coming crop induces
much buying.
The demand for cotton goods does not
Increase. although sales of fair magni-
tudc continue, but printing cloths are
dull. Speculation in wool has been check
ed by the possibility that duties may
take effect April 1, and some large ship
ments from abroad have been counter
manded( while traders here are less dis
posed TO SELL But trading between deal
crs makes up more than half the sales
OF 1873, 400 pounds for the week, and
since sales in six weeks at three markets
have been &c. 464, 500 pounds, it is not i'm
probable that many mills have, as is
claimed, full years supply. The de-
mand for mems goods has diminished,
the first round of purchases having been
completed by many buyers with results
fairly encouraging, and the demand for
dress goods, especially Of the lower
grades. has caused an advance Of 3 per
cent in some lines.
The iron industry is hampered by the
contest between Mesaba ore interests,
which prevents as yet any settlement Of
ore prices and leads many to expect fur
Their declines in finished products. This
Illinois Steel works. the Lake Erie works
at Cleveland, and the works Of Oliver &
To-, and Byers & Co., at Pittsburg. are
stoppedby labor difficulties and some fur
naces have stopped because the produc-
ton of pig and outrun the demand for
finished products. and heavy stocks re-
NAMED unsoid. Bessemer. at Pittsourg,
Tor pig brings only $1,000, and Grey
Forge only 1915, the lowest on record,
but 10 quotahle decline is seen in fin
lsned products, and nails are strong.
BRADSTREETS REVIEW.
New York, April 9.-Bradstreet's to-
morrow will say:
The situation as whoe shows no
gain. Staple iiEeS are Only fairly active.
overfiows, wasnou,s md floods continue
20 do great damage in the Mississippi ard
Missouri river valleys through a portion
bf which general trade remains practical
" at a standstili. Rainy weather ex-
tending from the central western 20 the
northwestern spring wheat states has
rendered country roads almost imnassa-
BILE. with the natural effect upJr business
iAs the region threatened by floods in
eludes the richest portion of the cotton
belt. the prospect for de.ay in plan;ins; a
shcond time indicates the possibility of
a heavy reduction in acreage this year;
herce the advance in cotton this week.
}Pig iron, steel hillets and cast iron pipe
are lower in price. and the demand for
steel and iron is not as heavy as It mas
been, although the price Of lake ore has
been fixed at low figure and an ore pool
formed.
Wheat has Continued disappointment,
as to price, dropping nearly cents per
b,,shel on Bradstreet's report Of an IL
creased worlds visible supply last week.
Instead Of a decrease, as expected. due 10
a ,arger quantity Of wheat in sight
abroad.
Chicago has only about held its Own.
little. if any. improvement ir trade being
reported there.
s.. Louis. more dependent on traffic
with the flooded region, reports lie
crease in volume Of business. Joobers at