The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1898-06-18
EVENIF(JL N TRADE
Past Week Crammed With
Exciting Events.
BOOM FEATURES ABOUND
Greatest Activity in the West
and Northwest.

New York, June 17.-R. G. Dun & Co.'S
weekly review of trade will say in to-
morrow's issue:
The passing of the war tax bill, the
Offering of bonds and the collapse OF
Letter and cash wheat have made the
week somewhat exciting. In spite Of some
features which cannot be justified, the
tax bill was approved as probably the
best that could be obtained from con-
gress this year, and gave assurance OF
needed revenue for the emergency. Its
bond provision has already called out o.
fers for more than three times the
amount desired and it probably will prove
the most successful loan ever invited by
the United States. A great victory IN
the field could hardly be of more import
ance, especially in Influence on foreign
opinion.
Not less significant was the excess OF
exports over imports in May by S56 98O,3o9,
making a mercantile balance in favor OF
the United States Of SSH, ,637 in eleven
months of the fiscal year, while the i'm
ports of gold were s1O2, OPS $50, though in
no previous fiscal year have the net i'm
/ ports of gold exceeded Ss7, 46S, 127, in 1882.
| Not less important is the official show
! ing that this nation has supplied 70 others
/ 10 05S, POS bushels of wheat and 204. 900 900
bushels of corn in eleven and a half
months, without checking receipts from
I %
week because a crop is promised greater
/ than the last by a hundred million bush
I els. This decline would have come near
! er had not Letter looked for larger gains,
! but the benefit to this country by the
average advance of nearly % cents Cor
| the crop year on wheat exported has
been about S4S,0O0,O0O and to produces
much greater. In corn, on the other
/ hand. the cesh price has declined only
l cent, and the demand continues extraor-
binary western receipts amounting TO
4,Ss2,s42 bushels, against SS13,194 last year
and exports amounting to 1862, 600 bush
els. against 1921, AS last year.
! The cotton movement continues large
for the season, although the price has
advanced a sixteenth in spite Of favora-
BILE crop prospects. The manufacturing
demand abroad is good and controls the
output, and at this late season America
let sLiverpool make prices, Here the
manufacturing demand is a little better
though with decline of prices of bleach ed
shirtings, but the mills have large stocks
of materials. There is also a stronger
market for wool abroad, which, with
!
one hundred qualities by Coates Bros
| of 1 cent higher than June 1, but there
is scarcely any buying by manufacturers
| who are in doubt about the coming season
and have few new orders except in army
lines. The break in the price Of 16-ounct
clay worsted to s1.20 has somewhat dis
couraged what promised to be a healthy
market. Sales of wool were made ex
tremely narrow by the wide difference!
between excited western holders and man
ufacturers who have an uncertain com
ing season to face.
Pig iron is extremely dull, though Bes
semer holds last weeks advance, an
other grades are not quotably lower. n,
decline in consumption appears. an
while bars are weak, with short time tn
rule in eastern mills. they advanced 81
cents at Pittsburg, while Chicago report
heavy season contracts coming from
wagon, car and other manufactures
Heavy sheets are better at the east, bu
thin are not better anywhere Structur
al works are full for the summer an
have had two remarkably good week
with building and bridge orders. Plat
mills are well employed and at Chicag
the demand for pipe is better. especial
from the Pecifc coast. Shipments fror
there OF rails in May included some :
Sweden, Belgium. South Africa, Siberi
and three other countries, while orde;
from Calcutta have just been taken. Tn
anthracite coal output in May exceede
all months by g. per cent.
; Failures for the week have been 223
! the United States. against 234 last yea
/ and &c in Canada, against So last year.
BRADSTREETS
New York. June 17.-Bradstreet's tomol
row vii lsay:
t Unprecedented foreign trade totals, il
volving heavily increased shipments
t breadstufs, provisions, raw cotton ar
manufactured products, fattering Gro
prospects, pointing 10 very large vie
! OF wheat and most cereals, as well {
cotton: profitable railway operations, ;
, rejected in relatively higher gains in n
, than in gross receipts; activity in near
: all lines of manufacturing except son
textile branches: prices for most stapl
l showing heavy advances over the prece
= ing year: bank clearings exceeding all pr
vious records at this date; a volume
: new demand limited in the east and SOU
I TO midsummer dullness, but in the w
= and northwest comparing favOrab.y VI
$ records of previous years. and low IA
OF business mortality. are a. features
: che general business. a. the present tim
The coHapse Of Letter and his deal
b wheat. with the Generalization in pric
which was concomitant, has been follow
a BY a ouieter feeling in cereal markei
= ~ N0st