The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1898-12-24

ton.
In the iron trade no signs of tagging in
terest are to be discerned, but rather more
pronounced activity in new directions The
feature of the week has undoubtedly been
the reported placing of an order for 5000
tons Of steel rails with at least one rail
mill, to go TO Siberia All the strength OF
prices IS maintained and in some lines.
notably biIlets. wire rods, plates and bars.
further advances are 10 be reported In
many lines the country's production seems
to be heavily sold ahead and the utmost
confidence IS expressed as 10 present
values being maintained or still further in
creased. In other metals. too, svmDa-
thetic rise is 10 be discerned.
The foreign demand for cereals continues
undated, any slight reaction in price being
taken advantage of by foreign buyers.
Wheat closed the week with quotations
vel up to the highest paid this autumn,
and short sellers of December delivery are
reaping the benefit of indiscreet specula-
| ton. The strength Of wheat has been en-
HANGED by sympathy with the growing
| speculative interest in corn. for which the
| highest price paid for three years past has
copper stocks has received an impetus this
week from rumors of commission to con-
troll The American production. Cotton dis
| plays notable strength, and the market for
the manufactured product is very firm at
| the recent advances, print cloths. in fact,
being higher than for year past.
| Strength and firmness is a feature also
of the lumber market. with the possible
exception OF yellow pine. where keen COM
petition tends 10 check the advancing ten
| dency shown by other woods. In other
| lines of general trade and industry reports
are, as a rule, favorable.
Wheat Gncluding -four shipments for the
week aggregate 5,515.23 bushels, against
| 6,243. $50 bushels last week, revised TO in
| clude Portland, Me-; 757, $50 bushels in the
corresponding week of 1897, 2.111,702 bushels
in 1885, 3,457e 91 bushels in 1895 and ,sl4. 054
bushels in 1894. Since July l. this year the
| exports of wheat aggregate 115.236, 0S4 bush
els. against 123, 5S6, CAT last year.
Corn exports for the week aggregate A.
1858 bushes, against 3,251 e36 bushels last
week. 4.S7s.0l1 bushels in this week year
ago, . ass, leo bushels in 1895. 1883. 2s6 bush
els in 1925. and 64s,S0 bushels in 1894. Since
| July 1, this year, corn exports aggregate
! n. 2Ss S99 blshels. against IS 250.454 bushels
| during the same period year ago.
| Business failures for the week number
| 212 against 234 last week. $50 in this week
year ago, 927 in 1896. and S16 in 1895.
Business failures in Canada number 81.
as against % last week, and 80 in this week
a year ago.
| Canadian bank clearings aggregate s2S.-
$4,000. a decrease of 16 per cent from last
week, but a gain of 10 per cent over last
year.
BRADSTREETs FINANCIAL REVIEW.
! New York. Dec. 23.-Bradstreet's finan-
cial review tomorrow will say:
In view Of the recent rises and large
| stock exchange transactions It was
thought that the market prior TO the
holidays would become dull and react.
| The beginning of the week was marked
| by tendencies (which agreed with this es-
innate, but after the first day or SO re-
newed strength developed and prices We're
in many cass carried to The highest yet
| reached, tine activity of speculation being
shown by the total dealings from Wednes-
| day to Friday which were well up to
| 10000 shares each day. While leading
| financial interests were active and gave
a support TO certain specialties which had
a due effect in both starting and maintain
| ing the movement the buying of stock by
| the public was the most notable bullish
| factor of the week. Stock commission and
| brokerage houses have almost uniformly
/ had an exceptionally large volume of ousi-
ness, and while the extent of the advances
/ has induced a great deal of profit taking
| both by the professionals and the pubEc
concessions in prices develop further pur-
| chasing power. London was inclined TO
| rest. and also seemed at first to be in
dulging in profit taking in Americans.
| The renewed strength of the market
! here, however. had a stimulating effect
! on its interest in them and in the latter
! portion of the week there was fair for
eign purchasing. It seems however, that
| the English financial press exhibits a sus-
! picious attitude toward Americans and
| recommends a suspension of buying until
a reaction occurs. Theories OF this kind
| found favor at the outset with a large
/ section of the board room professionals
| here. go that their short selling in an
ticipation of a moderate decline. such as
the market almost invariably displays just
| before the chief holiday week of the year.
simplified the work of the leaders. who
/ Instituted the renewed advance. To a
! large extent the market has been more
/ speculative in character. although the fall
/ ing off in the bond transactions 70 around
| 100000 each day may be accounted for
by the diminished activity in a number
Of bond issues where manipulation has
| been rather apparent.
At the same time II must be admitted
that the purchasing interest of the pubic
was mainly for speculation, an idea that
further large advances in stock values
are in sight being among the principal in
! huences " the moment