The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1897-10-16
IRON BEATS GOLD
DUN'S MAKES THIS OUT IN A PER
FEOrLY CONVINCING way.


is More Demand for Iron Than There
| Ever Has Been-Ssptembor's Wheat
Exports Surpass All Heoords-Hesita-
ton In Certain Markets EIore Than Bal
anced 10 the General Situation.
New York, Oct. 15.-R. G. Dun & Co. s
| weekly review OF trade will say tomor-
row:
Foreign trade in September, the heavy
increase in iron production and con-
sumption, and the largest payments
through clearing houses ever known IN
October, are indications which out
weigh hesitation in some markets. The
increase in employment of labor has
continued, with further accounts daily
Of works opening, Of increasing force OF
hands. Of raising OF wages and at ev-
cry point where actual production can
be tested it appears greater than ever
before.
Efforts by the Bank OF England have
delayed further gold exports, but with
cotton movement rising, large ship
ments TO this side are deemed certain
and not far distant. More gold, how
ever means less just now than more
iron.
The output Of pig iron October IS was
12,200.12S tons weekly. against 1912 a
year ago. the increase In July 1 having
been % per cent. Nnsold stocks have
~
weekly in September. Indicating a con-
sumption exceeding 49,, 900 tons week
ly, which Is about 20 900 tons greater
than ever before, and 40 per cent great
er than three months ago. Prices Of pig
hold steady, though the production has
been further increased since October l.
and prices of finished products gradu-
ally rise with especially heavy demand
for plates, rods and bars, while another
contract has been taken by the Illinois
Steel company TO deliver 10000 tons of
Steel rails for Japan. and the Pennsyl-
vania has bought $1,000 tons. Ore ship
ments on the lakes surpass all records.
and the Rockefeller company has con-
tracted for another steamer with two
consorts TO carry 10000 tons. the largest
ever built for the lakes. Makes of black
sheets have raised the price for No. %
10 $40, and wire nails are cents high
er, the average of iron and steel pro-
ducts rising per cent for the week 10
the highest point since April s. Tin
plates are cheaper at $40. with enor-
nous production. and copper at SLIP
for lake. with lead at $40, but tin is
fairly strong.
The cotton mills are producing as
largely as cheap cotton invites, and with
moderate demand print cloths are as
low as 2.44 cents and some grades OF
other goods are slightly reduced
Sales OF wool for speculation have
greatly decreased. but manufacturers
do not find that current prices are war;
ranted by their market for goods,
though it is strong and advancing
Sales Of wool for two weeks have been
q, 1881 900 pounds, at the three chief mar
kets, of which 1897. 800 pounds were
domestic. and while quotations are
maintained large lots previously with
drawn by consignors are now offered.
The demand for spring goods is limit
ed But the prices OF some qualities
nave advanced a shade further. There
is also some quiet contracting already
for heavy weights.
Wheat has been fairly steady, but
moving more largely than last year
from the farms and from the country.
Western receipts were 15,167,054 bushels
in two weeks OF October, against a.
235.o16 bushels last year. and Atlantic
exports 6.463,4 0l bushels -four included.
against 4,747,S45 bushels last year, While
corn exports were 3,267.3S7 bushels
against 3,309925 bushels last year.
September exports of wheat surpass
all records. amounting 70 %, SOS, SSS BUSH
els against 17,646S15 bushels last year.
owing to high prices, the value being
over 100 per cent larger for all bread
stuffs. The price Of wheat has declined
SAC. and corn 1 cent. with the govern
ment report OF a yield exceeding $780,
600. 600 bushels.
Cotton has declined slice, TO 631 cents,
for spot. some authorities OF repute pub
lished estimates that the yield will be
; 900 600 bales. but the mavement IS yet
retarded by the fever.
Failures for the week have been 90
in the United States. against 23s las,
year. and IS in Canada, against 40 last
year.
BRADSTREET'S REVIEW.
New York, Oct. l5.-Braistreet's to-
morrow will say:
The activity in staple lines OF mer-
chandise is less pronounced than
month ago. due 20 interior merchants
having supplied their demands for the
time. a gradual increase OF the terri
tory included by the yellow fever quar-
antine. the low prices OF cotton. ten
dercy in the Missouri river valley and
spring wheat states 10 hold whea: for
higher prices and 10 farmers being busy
with fall planting.
Unreasonable weather has had an IN
favorable influence on the distribution
OF merchandise throughout the central
west. and al Chicago and St Louis sales
have fallen of.
\ we'll informed correspondent %
Bradstreet's after extended personal in
vestigation. gives reason for anticipa;-
ing a much smaller yield OF cotton than
trade estimates indicate.
The position ot the cotton goods in
dustry is no more favorable. but wool
en- goods manufacturers report demand
brisk. prices steady. with an unwilling
ness by makers 70 accept new orders az
present quotations
Advances are reported FOR Besssmer
pig iron and steel billels. with quick
sales. but prices are firmly held.
Some steel mills are not able 10 Keep
III with orders. The domestic consump-
ton Of pig iron last month was eXJraor-
d.nsrily heavy and promises 10 great
~ stimulate production.
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