The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1898-02-19
5 ONLY EFFECT
On Business Has Been in the
Stock Market.
TENDENCY TO ADVANCE
In all Staple Articles and
SteadineSS Elsewhere.

New York, Feb. 15.-R. c. Dunn & Cos.
weekly review of trade:
The dreadful disaster Of the Maine,
much as it has affected all hearts. has not
affected business Only in the stock mar
ket, where there was selling Wednesday
by spectators on thin margins, but in
no other speculative market was an eff
feet felt, nor in general business. An ad-
vance of 10 per cent in wages by some
Gogebic mines is expected to be general
throughout the lake region, excepting the
Mesaba district, and prices of ore from the
other ranges this year have been advanc-
ed ID per cent, with an allotment of $780,
600 tons outside Carnegie's mines, which
betokens an output much the largest ever
known.
Wheat has risen 32s cetns, and exports
continue so heavy that material advance
is natural. Atlantic exports in three
weeks have been 8,416, Sl9 bushels, -four ia
Guided, against s 81 bushels last year,
and Pacific exports have been 2.476, $50
bushels, against LA, 1872 bushels last year.
Such shipments with heavy engagements
for the future, in spite of III, 430, SS1 bushels
Of corn exported, against 125 ,214 bushels
In the same weeks last year, are conclu-
sive proof of the urgency of foreign needs.
Wheat receipts hold up well, though not
exceeding last years as much as exports;
in three wees 7,775,5s0 bushels, against A.
S64 40 bushels last year.
The bottom fact is that the world needs
wheat, which this country con only supply
for about six monthse to come.
Cotton has held unchanged for spot, al
though little lower for options, prospects
of decrease in the next yield being the
main support.
The iron output February 1, with reports
Of stocks on hand not held by the great
steel companies, indicates a consumption
of at least 1900 tons per week greater in
January than in the previous maximum
attained in November, 1895. The produc-
ton is at present greater than consump-
ton, stocks having increased 9,016 tons
weekly in January. Some weakness in pig
would naturally result, but while Grey
Forge has declined at Pittsburg 70 $3.50
with southern iron offered at Chicago at
CONCESSIONS, no changes appear in pro-
ducts. Though new business has been
somewhat disappointing, the works are
mainly supplied for moths ahead.
In building of steel cars, in black sheets
for timing. in rods, wire and wire nails,
increased demand and heavy business APP
pears, though bar and pipe are weaker
and structural orders seasonably slow.
Mine metals haveadvanced, tin to s14.20
on considerable consuming demand, cop
per to $1.0O54 cents for lake on heavy.ex-
ports, and lead to $3.50. and spelter 20 $40
on speculation, but failure to organize
the tin pool causes weakness. American
selling at g and lower at the west.
In the cotton manufacturing production
is restricted by strikes and some grades
are shade dearer. The recent opening
prices meets less demand than was ex-
pected, with less activity in lower grades
and Unexpectedly numerous cancellations
in light weights, Indicating larger buying
than consumption has yet warranted
Failures for the week have been 295 in
the United Sites. against 303 last year,
and SIS in Canada. against So last year.
BRADSTREETS.
New York. Feb. IS-Bradstreet's will TO-
morrow say:
Favorable features dominate the general
business situation as a whole. and few
commercial conditions present themselves
which can be regarded as in any degree
disturbing. Chief among those factors
which make for continued or growing
strength in commercial lines may be men
toned the renewed tendency toward adj
vanCes in quotations of all staple articles
and the steadiness of prices in other lines
where increases are not at the moment
reportable. Perhaps second in the list
of suspicious features is the continuance
of marked activity in nearly all branches
of the iron and steel trade, more particu-
larry in the central west, where il is
authoritatively reported. over 90 per cent
of the pig iron furnace capacity Is in
blast. The failure of the southern furnace
men to reach a price agreement is. Of
course. a depressing feature in that sec
ton. which, however finds a counterbaI-
ancing factor in the intention to advance
hrices reported from Bessemer ore pro-
ducers. The volume Of distributive trade
shows an increase. notably in dry goods
and groceries, at so many widely separat-
ed points as to warrant the conclusion
that spring trade is receiving percepuble
Impetus At the west iron and steel mills
are reported generally busily employed
and unwilling TO take orders for early de-
livery At Chicago 5000 tons of steel
rails have been sold in the past two
weeks. The bicycle trade IS reported
starting up well at the west, but is still
slow at the east. where, however, the
cotton goods situation is one Of hopeful
strength, owing to the strength OF raw
material and the restriction OF production
due the New England mill strikes. The
strength of cotton, sugar and rice and
the demand for iron all favor the southern
trade situation. which is also being helped
by the growing foreign trade IN cotton
goods. The activity in Alaskan shipments
10 a