The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1897-02-13

Orders and the impetus tt VIII Give to
Track-Laying and Repairing Huge
Print Cloths Purchase Revival In
Woolens Production-AboutS Speculation
In Products and Prices Thereof.
New York, Feb. 12-R G. Dun Cos
Weekly Review OF Trade tomorrow viii
say:
No other event OF the week approaches in
importance the disruption of the steel rail
pool In two days after it. greater ton
| mage OF rails was probably purchaser than
the entire production of last year. reported
as 5000 tons. and instead OF s2s in Deem
Der and s25 in January, ST. is now the price
at which works east and west are seek
ing orders. the Carnegie company even SELL
| ing at ST. Chicago delivery. These sales
will employ many thousand hands. with an
important decrease in the cost of track lay
| ing or renewal OF railroads.
Even more important is the result that
Reconstruction of the billet pool will be
impossible as long as the contest over rails
continues and the manufacture OF struc-
tural forms, bars, rods. wire. nails, tin
plates and many other products has
chance TO secure cheap material in the near
future.
Also important is the struggle between
the two great companies producing Mesaba
iron ore, one allied with the Illinois Steer
company. and the other with the Carnegie
company, which IS expected to bring about
lower prices for ore. and to push many
mines TO their utmost capacity. But in
q Of v1t-al inf
ready reduced by some large concerns.
Another event Of influence is the pur-
chase OF 10000 pieces of print cloths by
Nj c. D. Borden at $50 cents, which has al
ready caused an advance TO 2.69 cents, with
a stronger tone for prints and other cot
ton goods. The moral influence of such
purchase. manifesting CONFIDENCE in the fu-
ture, is apt to be great. AS u contract to
shut down part time many rfis producing
print cloths is going into enc( the produc-
tive capacity and wages offoperatives VIII
be for a time reduced, but If demand Of
traders, to replenish stocks is started, the
effect may be altogether beneficial.
The wooden industry also meets an in
creased demand for low and medium goods.
and a dozen or more mills have started,
against three stopping for various reas-
ons. Claw mixtures are reduced TO 40 cents,
with Other prices maintained
Except in steel rails, changes in iron pro-
ducts have been slight. There were slight
advances in grey forge, wire and cut nails.
Competition reduced American tin-plates
TO 1920 against $3.50 for foreign, and tin
and copper are steady, but lead is stronger
at $3.N1z.
Speculation in products has hardly been
more active than of late, and prices gener-
ally tend downward. Wheat rose cent
on Tuesday but has since declined 2-57
cents Western receipts are increasing, but
for two weeks have been only 3,19l, 3y1 bush
els against 5,S23213 last year, while At
iantic exports. -four included, have been
for the two weeks a quarter larger than
last year, and for two weeks 3,S55,096 bush
els, against 3.6Ss, l25 last year.
About every week some new speculative
guess by somebody impresses many trad
ers more than the current records of ac-
tual movement The cotton market has
been depressed in like manner by Mr.. Eli
sons estimate that the American crop
would prove $4,000 bales. but the quantity
coming into sight has also Surpassed pre-
vious guesses, and indicateSa larger crop
than most spectators esti:3ated.
The curta;lment of consumption In the
mills is not a guess, although some over
estimate it. since probably not more than a
fifth of the spindles will be stopped. a
third of each week, for quarter OF the
year. The price declined only on eighth
for spot, but over a quarter for May op-
ton.
Failures for the past week have been cs7
in the United States, against 81 last year.
and 81 in Canada. against 81 last year.
BANK CLEARINGS.
Philadelphia, Pa. Feb. I2.-Clearings So
254. 12e; balances 81, 112052
ST. Louis, Mo, Feb. 12-Clearings As7a.-
Oil; balances s1,l7e. 7Os Money 5a7 per cent
New York exchange sc discount bid; par
asked
FOREIGN STOCK MARKETS.
London Eng, Feb 12-Business on the
stock exchange today was extremely mac
tive and there was a general disposition 10
await developments in the east though the
tone was more hopeful At Paris there
was improvement. Frankfort was firm and
Vienna quiet
New York. Feb. 12.-The Evening Posts
London financial cablegram says:
The London, Paris and other continental
markets were duh today. awaiting ponti-
cal developments. There was no excite
ment but prices fell. closing at the lowest.
Consols were Il2 5-i6.
Berlin. Germany, Feb. 12.-On the bourse
today business opened weak on provincial
selling, but was subsequently better on a