The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1897-01-30


New York, AIN 2s-R. G. Dun Cos.
Weekly Review of trade tomorrow VIII
say:
January has been a month Of disappo-nt-
ment. but OF real gain. Nearly everybody
had promised himself land OF milk and
honey after New Years, and the slow pro-
gress looks Ike standing still to men in
such a state of mind. Moreover, there are
multitudes throughout the country who
have been taking large ventures in advance
or apart from their regular business, be-
cause they expected a Use in prices. But
prices fail. as yet. 10 bring them profit
Wheat has declined severely. cotton has
scarcely risen enough 20 pay brokerage;
wool holds steady in spite OF enormous buy
ing; WOODEN goods hardly change N prices;
iron and its products decline: lea her IS slug
gish. hides are lower. for some shoe manu-
facturers accept shade lower prices; the
| average OF railroad stocks is slightly lower
than il was December 81, and the advance
| in trust stocks has been small. To trad
ers in such properties the month has been
! disappointing. Yet during the past week
| the record shows that ten iron works have
started and only two have stopped. th!r-
I teen wooden works have started and nine
more are about ready TO start. while three
have stopped. Similar things are seen IN
other industries, and the additional estab-
| l.shments are not starting without some
increase in orders received.
The decline in wheat was over cents. in
| spite OF an official report of yield far below
estimates generally accepted. which reflects
perception OF the error OF the report and
also of the influence of enormous exports
of corn instead of wheat, 100000 bushels
| in seven months. When two bushels Of
corn can be had for less than one bushel
! of wheat, it is largely preferred IN Euro
| pean markets. and in January IL. bush
! els of corn have gone abroad from Attain
| tic ports against 5.3o6,3i9 bushels last year,
| while Atlantic exports OF wheat and flour
| have been G.535.154 bushels, against s,t03.-
| 7s5 bushels last year. As the great crop OF
| corn prevents much advance in its price.
its outgo affects the demand for wheat. and
! a heavy liquidation of speculation has oc-
CURED, with the price of corn scarcely
| changing. The largest article of export a,
this season goes out freely. but cotton looks
! less attractive to traders. because Ameri-
can millers are laboring over plans to re-
duce a great surplus OF goods, and prices
| of many have declined. Takings of Nor
| thern spinners have been in five months
| a, 900 bales less than last year, and 423,ccl
| bales less than IN 1SSi-95.
| Sales OF wool in January have never been
surpassed in that month, nor In any other
month. except last November, and July OF
| 1885 and 1892. In the earlier years sudden
demand for consumption was the cause,
| but the increase In orders for wooden goods
was small in November and had been small
| in January, compared with the purchases
/ on anticipation of possible duties. The
| price has remained about steady.
| Iron and steel show little gain. produc-
ton having increased so heavily and the
| gradual enlargement OF demand for finish
ed products has not overtaken that in
| crease. Lower prices result for Bessemer
pig, grey forge and Tor southern iron a.
] Chicago For angles and cut nails the
| average Of all quotations IS the lowest since
early last year. For sheets there Is an
active demand and better also for bars, or
account OF much car building Tin and
copper are a shade stronger, but competi-
ton causes sales OF tin plates 10dl5 cents
below the agreed price.
| Failures for the week have been 531 in
the United tSates. against 4o4 last year, and
| Il in Canada, against 10 last year.