The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1898-09-24
The aaehta daeekIu Eaoe Saturday September "a 1898

resulted in fairly good copdltlons IN Call
fornia. where crops were less favorable
than further north and failures are down
% a minimum AT the east the least fav-
| orable reports continue 20 come from he
textile industries. Wool Is quiet and
manufacturers are not encouraged 10 buy
heavily in view of the very moderate
| trade IN wooden goods. Cotton goods are
in better distribution, but prices eetray
the unsettling Influences of low prices
fo- the raw material and print cloths ere
slightly weaker Activity IN iron and steel
manufacture continues undated and SIM
| liar conditions are reported abroad. Talk
of further moderate advances in prices
has increased, particularly as this c5un-
try today, generally speaking, is The
CT apet market for iron and steel ia me
WORLD. The export trade in pig iron from
southern poin.s continues very heavy and
another advance of Is cents is reported by
some large southern concerns.
Improved foreign demand for American
| cereals Is shows In the enlarged volume
| Of shipments this week. Wheat flour in
cluded) shipments aggregate 1891 1853 bush
els, against 3,675 PSI bushels last week,
{. 705, sos bushels in the corresponding week
of 1887. $3.50. 4ss bushels in 1886. 5.15l, so7
| bushels in 1895. and 2,56250o bushels in
1884 Since July !, this year. exports OF
wheat aggregate Il. 100 Al bushels against
| 50. .525 bushels last year. Corn exports
for the week aggregate s.2e2.29o bushels
against 2,331, 900 bushels last week. 4,022, i42
bushels in this week a year ago, 2,5lo.i19
bushels in 1896, 1850. 325 bushels in 1885,
and l0l. o0O bushels in 1894 Since July J..
this year. corn exports aggregate 80, 3S5 ,l66
bushels. against IS. 399 991 bushels during
the same period of 1897.
Business failures in the United States
for the week number lS2. against l73 last
week, but ompared with 237 in the week
year ago, 32l in 1895. ls9 in 1895, and 2o4
in 1894
Business failures in the Dominion OF
Canada number 10, against 20 last week
IS in this week one year ago and "a in 1895.
BRADsTREET FINANCIAL REVIEW.
New York, Sept 23.-Bradstreet's re-
view tomorrow will say:
Irregularity has been the chief feature
| of speculation. Professional trading and
manipulation furnish the bulk OF the &C
tivfty and the public IS hardly factor.
although the commission houses are fairly
busy. London hsa bought few stocks
on balance, but as a whole the market
has represented a struggle between bull
and bear speculative interests. in which
the money market and the gold inporta-
lions have been used with some effect to
influence sentiment. The principal move
ment Of the week, however. has been in
Monhatfon T0haPHn
and few others, which have acted in
accordance with particular condition or
especial manipulation.
The reduction of the New York bank
surplus reserves to 1000 900. shown by last
Saturdays averages, was followed by call
ing of loans early this week and by a
6 per cent call money rate. This last.
however, was only momentarily. and not
only were assurances given by banking
authorities that conditions were satisfac-
torily adjusted, but as the week pro-
gressed the fall of exchange rates and
the engagement of Sc 400. 900 gold in London
for shipment to New York assisted in
bringing about easier rates for call loans
and a more confident feeling in regard TO
money. This belief was Sjt shaken by
the advance in the Bank of England dis
count rate on Thursday and the sharp ad-
vance in interest in London which would
indicate that opposition will be offered to
further Withdrawals of gold.
Probably the most important event of
the week was the declaration of a half
per cent half-yearly dividend on Union
Pacific preferred last Thursday. eYt a
portion of the street seemed to be dis
appointed with these results, because the
company had earned in the first six
months of its existence not only 2 per
cent for the preferred but something for
the common stock. Both the common and
preferred sold off on the announcement
of the conservative action of the manage
ment Northern Pacific stocks were
strong throughout the week. They had
excellent foreign support.
The Baltimore and Ohio securities were
strong early in the week on the announce
ment of the deal by which Mr.. ]. j. Hill
and western syndicate acquire an inter-
est In the road. Industrials were, how
ever. the active part of the list and the
feature of the market was Sugar stock.
Its break to 1862 early in the week was
attended by liquidation of long stocks and
nearing an acute state. The large short
interest created at the decline was respon-
sible for the subsequent rally to 123. but
the stock again reacted and has been very
irregular and sensitive In view Of the IN
certainty surrounding the trade unions.
American Tobacco has been violently
manipulated both ways. II has, however,
excellent support and rumors are current
that a partial combination OF plug manu-
fac.urers IS probable. American OIL stocks
are strong. the buying being based on
reports about the excellent forthcoming
annual report and probable dividend on
the common stock.
United States Leather preferred yielded
somewhat 10 the reports Of an opposition
TO be started by people hitherto in its
own management but rallied on their de-
NAL Peoples Gas has been firm on the
news nat the dispute with the natural
gas interest mas been closed.
BANK CLEARINGS
New York. Sept. 23-The following table.