The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1897-02-20

- --oN AAANiNo1C III lAS -IOu anu steel
cuisines on account Of sales covering eight
to twelve months production of the larg-
est works, a better demand for WOODEN
goods and slightly better for cottons,
gain which may prove lasting in boots and
shoes, slightly better prices for wheat cot
ton' wool and iron, and q money market
: vel adapted to encourage liberal purchases
against future improvement IN business has
ruled the past week more hopeful than any
since early in November. The heavy ex-
cess OF merchandise exports over imports in
January, the continuance of exchange rates
showing that Europe is still largely indebt-
ed to this country or current account and
the prospect that congress will adjourn
without any disturbing action. all have
their favorable influence upon the money
market, and upon future undertakings.
In nearly every branch, the great iron
and steel industry feels the upward impulse
supplied by purchases of steel rails said
10 De half million tons each from the
LIMOS Steel company ard from the Car
neSie company, besides some from other
companies, in part as low as SIS per ton:
about 10000 to foreign purchasers az 81
@sIS, but all recent sales at $40 10 eastern
ana 81 at western mills. Nearly all the
great railroads of the country have seized
the opportunity to supply themselves with
rails Tor one or two years requirements
These enormous orders have advanced Bes-
semer pig at Pittsburg only 10 cents per
ION. with Grey forge shade lower. and no
| considerable change appears in finished nro
cucts, although plates are unchanged in
price with good demand, and nails are held
at recent prices. The bar association M
longer controls anything, and iron bars are
quoted at S1.o5 per 100 lbs while steel bars
are quoted st % cents per 100 lbs. Struc-
| tural forms are steady, although 100 900 TO
lJo0oo tons are said to be required N New
OK alone this year, and American tin
plates are still selling at $500, which is 20
cents less than the price for foreign.
Ootner industries are gaining also though
less conspicuously. The recent decline and
| subsequent rise in raw cotton have not
materially affected the manufacture which |
Is gradually getting rid Of its accumulated
surplus, though there seems to be but lit |
Tie increase as yet in the demand for goods
Inc sales Of wool have sharply declined |
amounting to 7,iO9,3O0 pounds for the eek. |
against s,l5I.SN pounds for the previous |
week, but owing to the heavy transactions |
early in the month, the sales for threa
weeks have been 80, 13O90O pounds. of which |
lS.o5I,3Oo pounds We're domestic, against
I5.l6S'No pounds last year, of which 5.997,-
oOo pounds were domestic, and Is. $50 200 in
lssZ OF which 10,944,2O0 pounds were domes-
TIC. me larger mills have acquired full |
supplies Tor the present, and at any ad-
vance OF prices they appear ready to drop
oue OF the market. The demand for wooden
eoocs GOES not seem to have expanded ma
teriaiy. and no quotabl change in prices
has appeared during the week.
Inc neaVy experts in January, following
tns unprecedented excess of exports over
imports OF merchandise in the four pre-
Vious n onths, are largely due to the fact |
thai neither the wheat nor the cotton mar |
hets have been materially controlled by
speculation. Wheat dropped to SOa4c but
rose to &Ac, with no important impulse
except the conviction that recent prices
have been low enough. The Atlantic ex
ports, flour included, were only ,2S5. 375 bu.
for the week, against 1896. 3S4 bu. last wear.
but for three weeks have been 5000. Al bu..
against 5,4&,429 bu. last year The wes-
tern receipts are still small, for the week
only l,50I,si5 bu., against 2,415, sos last wear
and Tor the past three weeks only 4699 90
bu., against S,S2S,111 Blu. last year. Mean
While tie western receipts of corn have
been well-nigh double last years and for
three weeks the Atlantic exports have been
e,S17.24 bu., against 1924, 500 last year. Evil
IDENTIFY, this movement is displacing MANY
million bushels of wheat in foreign con-
sumption.
Failures for the past week have been 500
IN the United States, against 80 last year,
9hu oS IN Canada, against So last year
BRADSTREET'S TRADE REVIEW.
New York, Feb. 19.-Brdstreets tomorrow
Will say: i
Genersl trade shows more improvement,
~ rr,fN
Bessemer pig iron. steel billets. steel rails.
some grades of wool, raw sugar, Indian {
corn, pork and lard, and for print cloths. 1
with an upward tendency for leather, to- q
gether with number OF metal and textile I
establishments which have re- :
opened within the week, and an improve ,
ment in resent railway earnings.
Among the more important staples for :
which prices have decreased are: Wheat.
-four, oats. coffee, rosin, and turpentine
The unexpected weakness in wheat and I
wheat -four prices forms the best evidence
Of the lack of confidence by the trade and ! /
general public in Official reports of the size e
Of the domestic wheat crop last year. I
Exports of wheat (iour included as wheat '
from both coasts fthe United States. and I
from Halifsx. n. s. w, and st. Johns. y. d
B., TINS week. aggregate 21a0.9S5 bushels. y
compared with 2,05l.000 bushels last week, r
'li9.e1O bushels in the cores onding week
IF 1896. l,S0SO00 brsnels in the like week OF
SO. l,7S0.ooC bushels in the corresponding -
period CT 1884, and as contrasted with .
5000 bushels in the Ike week OF 1893.
Exports CT indian com this week are the
arsest on record for a Ike period. amount :
nS TO 64+l.42o bushels as compared with T
$4,000 bushels last week, 2,935,0n0 bushels c
q the week year aGo, $4,000 bushels in .,
he wees; two years ago. 2.Sl5,0J0 bushers !.
hree years ago. and as contrasted with S5s, :
% bushels in the Lke week OF 1893. y
Total business failures throughout the Il
ountry have Increases. numbering IS this {
week, compared with SCI last week. 276 in n
he third week CT February, 1885. and 81 in Il
ne Ike week OF 1885, Is in the correspond
1g period OF 1884. and 202 in the like week | L
T 1888. a
There were 10 suspensions and failures =
T banks. bankers and loan and trust COM -
anes in the Cuilei States. as reported 10
;radstreet's last year, compared with lS5 in :.
$50. only s. in 1894 and contrasted with
IS in the panic year 1sSo when the total =
I estimated liabilities. amounting 70 more =
han SlIe,o ;o,oco was less than total indi- L
stei assets. Only one-thiri the number O
banks (rationai. state, savings. private 1
nj trust companies failed or SUSPENDED g
Is: year than were reported embarrassed er
1896, eni the reduction il total es;imat- OF
] liabilities was in the same proportion in
tut that such embarrassneats were n =
re sense more serious in ISes than IN 1Scs -