The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1898-07-02
SATISFACTORY 50 FAR
HaIf-Year's Business Leaves
Little to Be Desired.
TRADE FUTURE Is BRIGH 7
Crop Outlook Good--Enor-
nous Exports 60 On.

row Will say:
In a period as usual devoted largely to
stock taking AMI with holiday and mid
summer influences making for q narrow
and restricted trade, there is little that
is novel to be found regarding current
closes with a very satisfactory showing
in many lines of trade, as evidenced by
the returns of bank cIearances. railroad
earnings, reports as 10 the consUmpuve
and distrioutive demands, and last, but
not least, by that infallibIe barometer OF
the mercantile world-business failures.
Harbingers of the future are found in
the generally favorable crop prospects,
not only of cereals, but of cotton, fruits
and most prducts of agriculture and
continued heavy foreign demand for
American products.
Few important events are chronicled
this week in the business world. The
semi-annual shut down of many indus
trial concerns, particularly those in iron
| and steel and glass, and some textile
manufacturing concerns, has been an
| nOunced to occur in the first week in
July, but this has been without much eff
| feet upon the prices of those staples. Ad-
vices from the west, indeed, lead to the
belief that this shutdown, in some cases,
may not occur at all this year, while in
others the time devoted TO repairs and
stock taking will be considerably abridg-
ed. The situation in iron is a rather
mixed one, most complaints coming from
the west
1t is significant, however, that the fall
in coast freight rates has been credited
with improving demand for iron and
steel for export, and considerable orders
have already been booked, notab bly, some
steel rails for Egypt and Mexico, while
orders for 1900 tons are reported refus-
ed on account of time limits set. Pig iron
and steel rails reflect the lessened act
ivity in a shading of prices. Doubts are
expressed as to the ability of the pig iron
makers to control production and the
next two weeks will probably be full Of
interest to the iron ira eerelangdnnin
interest to the iron trade generally. The
tone of the wheat market continues bear
ish, notwithstanding that the worlds Wis
ible supply has decreased 13 900, 900 bush
els in two weeks and that the probaibili-
ties are that visible stocks of old wheat
on August 1 will be as low, if not lower,
than last years, which were the small
est on record for seven years. A heavy
falling off in the condition of the Kansas
wheat crop is indicated.
Pot cfa i,, i5 h
servable, most cereals, pork, lard, cotton
and several makes of pig iron being lower
for the week while the list of advances
is exceedingly small Steadness has
been a feature, however, of raw wool,
hides and heavy leather, coffee, sugar
and print cloths. copper and lead. A
large distribution of bleached cottons at
prices higher has been a feature and the
demand for fireworks and bags this year
is conceded to be heavily in advance of
past years.
| Cereals still move abroad in quantities
/ unprecedented for the time of year
! Wheat shipments for the week aggregat tie
! AIS, 401 bushels, as against 37O9.479 last
week. and ESQ S48 in this week year ago
/ 2,601. O96 two years ago. 2,O07,O31 in 1885,
and 1850, 200 in 1894. Corn exports show a
! decrease from last week ,aggregating
| 2,601 $50 against 9O2 321 last week. !, 923 93S
a year ago. 1.59S,631 two years ago. 3SS, $50
in 1895 and $50, 100 in 1894.
In spite of the unfavorable features,
| there were fewer failures, smaller liabili-
ties and consequently smaller assets this
year than in any previous year for four
years past.
Business failures number s.429, per
cent fewer than a year ago, Is per cent
less than two years ago, and only per
cent larger than in 1898. Liabilities. too.
| are smaller, aggregating So 20. 341, % per
cent smaller than last year. 81 per cent
smaller than two years ago. IS per cent
smaller than in 1895, and 81 per cent be-
low those of 1893.
Business failures in the Dominion Of
Canada for the six months Of the pres
emf year make a decidedly god showing.
They number Sl3. involving s.. 799. e;3 a
decrease of q per cent in number and in
liabilities as compared with last year
and making still better comparisons with
earlier periods.
DUN'S REVIEW.
New York, July L-R. c. Dun & Co:
| weekly review OF trade will saw touor
row:
The second quarter Of the year close.
with more encouraging returns Failures
have been a little larger than in the frs
quarter OF the year. whereas a decreas.
OF e. per GER, might have been expected
from experience Of the past ten years
but with that allowance. difference o.
only S35,2ei0 can be charged 20 war a7t
fears 4 MAR. whereas solvent payment:
through clearing houses for the Quarter
were over 1856 GO. 900. IN the very hes
years defaults range from an eigrth TO Z
fifth Of one per cent OF such payments
and IN bad times from a th.-d 10 a hal
OF one per cent or more but this year n.
proportion Is less than a ffth The quar-
terly statement given today shows ar az
gregate OF 81. 4sS.074 which IS smaller thar
in the second quarter Of any year sine.
1870 except one. and the avers sc 81 liabu
tiles default 10 firms IN business and q
exchange through clearing honses. IS ais.
smaller than n any year except one. o
the past seven years.
The exports OF wheat continue extra
ordinary During the week hey nave beer
-four included. 4.aosSs5 bushels from Allan
tic ports. against 2,54.I73 bushels last year
and Pacific exports sIS.ss4 bushels. agalas
2iG60o bushels last year. Tnls makes 70
the crop year. with some minor ports ye
10 hear from. 2I7.S7l.sto bushels expor-
OF wheat. -four included, aga.ns. - 5t5 81
bushels in $50. che year q largss; pre-
vious exports. but az she same time I'll