The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1898-09-24
EUROPE MUST RECKON
With American Needs For
Money in the Future,
WESTWARD THE COURSE
Of Financial Empire Is Rapidly
Taking Its Way.

New York, Sept 2s.-R. G. Dun & Co.'S
Weekly Review Of Trade viii say tomor-
| row:
Europe will have to consider possible
American needs for money much more
anNously in the future. Doubtless there
has been for many years a feeling that
the new continent could be put OF with
! promises. But the control OF this country
over money markets in the cid world -
coming 10 be that Of a master. Our banks
! lend over heavily when il is the most con-
venient market for them. but they draw on
| Europe whenever they want money and
no longer have occasion to limit ;neir
drafts.
This country is not drawing on Europe
as largely to pay for breadstuffs as it did
year ago. and wheat exports for the
week, -four included. have been 3,363 Zg4
bushels from Atlantic ports. against 3,C?7.-
| S65 bushels 4aSt year, and 543, All tr0m
acPifc ports, against I,094S93 last year,
making for the three weeks 1908, 451 BUSH
els from both coasts, -four included, aga nst
|
risen sharply, about 4 cents for tia week,
and the exports of corn, though not as
large as last year, have been heavy in
comparison with any other year. The
price is slightly advanced.
Reports from different cities disclose a
wonderful activity at the chief centers of
western trade, the dispatches from Chi
cago. St aPul and st. Louis being espe-
Gladly significant. To eastern dealers it
may BIT hard to realize that such extra
ordinary activity exists at the west, al
! though their own rade is excellent. Even
in eastern markets it is commonly said
| that no larger trade has ever been known,
unless in 1892, but the western critics are
runnig things much after their own taste
this year. having greater advantages than
ever before In heavy bank balances. and
while, the exchanges for the week fall be-
| low those OF last year 3 to per cent, they
are 13.1 per cent larger than in the same
week in 1892.
The iron and steel trade expands with a
rapidity which throw sinto the shade all
expectations with a steel famine in Ger
many and Great Britain in th> market
| for plates and the American works rowded
| for months ahead. New orders at Chicago
cover 10000 tons tin-plate bars, besides T.
900 tons sold at Philadelphia. Rails are in
such demand that the makers are to meet
with expectation of advancing prices, some
sales having been made from Csicago be-
] low agreed quotations for delivery at the
| far wtst. Plates are strong everywhere,
| but ON account of car construction, espe-
ciaAy strong at Chicago, and the demand
for bars on the same account is heavy,
with one order at Chicago for 1000 and
several others for 500 cars each Prices
have slightly advanced for plates, bars and
for wire nails. which are in much better
demand than heretofore.
Coke production increases, the output at
Connellsville for the week having been 14O,-
COS tons, against 1871, III tons for the previous
week, and tin is somewhat stronger, at
$l6.15, rejecting an advance at London
| while copper is quiet, al 12.5 cents for lake
and lead comparatively inactive, at cents.
Tin plates are selling at 81 S2h for full
weight Bessemer. The copper production
in August was 19.30S tons domestic, against
| 500 foreign, and the lead production, as
officially reported, has been 156, ll3 tons for
the half year. against 2S9, j9S tons for the
full year, 1897
| The textile industries are not sharing the
| general improvement to full extent, in
| part because the heavy decline in cotton
with large stocks of goods accommodating,
makes the mills disposed to wait for future
Developments, and in part because the price
Of wool is higher than the mills are at
present disposed to pay.
I Iri olc he
brown drills and in some wooden goods,
| especially light clothing prices are slightly
reduced. There is little disposition TO Sc
cure trade in wool by concessions. and
sales for three weeks have been only 10
70S. 700 pounds. against a. Al, 400 pounds for
the same weeks last year, and q, 453. 700
pounds in 1892.
Failures for the week nave been l73 IN
the United States. against 20s last year.
and Is in Canada, against IS last year.
BRADSTREET'S TRADE REVIEW.
| New York. Sept. 23.-Bradstreets tonor-
row viii say:
Favorable trade developments manifest
themselves chiefly along the lines prevl-
ously noted The importance Of a large
export demand to the country's domestic
| 4AleLSSNS Is lsilSlIaIc4 Dy the improved
| tone and prices OF wheat and -four this
week. growing out of ths better foreign
buying induced by less favorable Russian
crop reports. smaller shipments from tia.
country and apparently continued care
f Al selling by American producers. Raw
cccton. on the o,her hand. reflects proba-
| bili;ics Of Continued Plentiful supply and
rather slow Demand in quotations. lower
than tie loweSt Ttrnt reached in the year
OF dep ess.ou. iS94. when a large Yield was
coiRc.Gra; WIKI poor trade. industrial! trou-
bles and t'EAt rcney. From the w-st
ard northwest Jdvcet continue largely
I in the fDtr ser cheerful strain Some re-
Taxation is percepjIole in some lines az
large markets. but the volume o. trade
as a whole IS evidently equal TO any pre-
vious record. At the south low-price3 cot
ton and yellow fever guarantees affect
trade adversely. improvement in one sec
ton being cou1ter5aIanCed BY less favor
| ao.e adv.ces from others. Favorable con
ditons on The Pacific coast are mast num-
erously reported in the states OF Oregon
and Washington. Conservative &C.
E,F,