The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1899-02-11
MARKET IS SDUNDER
For the Shaking 1t Has Got in
the Week Gone.
WHEAT AND COTTON UP
Improved Distribution of
Heavy Winter Goods.

New York, Feb. 10.-R. G. Dun & Co.'S
weekly review of trade will say tomor-
row: The solid basis for good business
| has not been shaken by speculative reac-
ton. Stocks have been slightly lower and
the market is all the safer because much
Unsoundness and unreason have been sha-
ken out. Speculation in wheat, which for
time depressed prices, has also taken
turn and with heavy exports the market
tends upward again. The cotton move
ment is now essentially speculative but
based on reported injuries and holds its
advance Meanwhile dispatches from all
parts of the country show extraordinary
activity in the chief branches Of trade, and
a business much larger than a year ago
in nearly all. The heavy excess Of exports
over imports continues, New York exports
having been in five weeks 16 per cent
larger tina Mast year, while imports were
by per cent larger.
In wheat Americans are getting profits,
even though prices are lower than they
were some months ago. After some yield
ing the price rose TO 1855 cents and the
May option rose 14c during the week. with
Atlantic exports of 1926 692 bushels, -four
included, against 21749 21 last year. and
total exports, including the Pacific 1884,
405 bushels, against 2s6O,5l5 last year.
Western receipts have been 3.056. 456 BUSH
els, against 1851, 10 for the week last year,
while corn exports for the week we're
S,1o2609 bushels, against 1885,, s76 last year
AT higher or lower prices foreigners are
constantly taking more wheat or corn from
US than in any previous year.
The cotton market is in slightly stronger
position because foreign buying continues
beyond precedent, while home indications
now point to smaller crop than was ex-
pected The stocks on hand are heavy,
both commercial and mill, but foreign buy
ing supports the rise in prices thus far
Mil operations help also, though at this
season they are naturally small, for the
heavy demand for goods of late leads buy
ers to remember that material has not ad-
vanced in prices as much as staple cot
tons since the lowest point was reached.
Goods are rapidly rising with the expand
ing demand but the material has ad-
vanced only an eighth
What wool is worth in view of the great
stock yet unconsumed few are able to
judge, and that fact binders adjustment Of
prices for goods. Sales have been small,
only 6,475,4O0 pounds at the three chief
markets for the week. against 800, 200 last
year and 9,175.9O0 in - same week of 1897.
but this year and in 1897 the buying has
by no means represented consumption only.
While quarter and half-blood woods and
delaine have been in demand and firm. the
quotations indicate weakness in Ohio and
other feeces. The goods market is of
similar character, strong for cheviots and
serges but not for fine, high grade or plain
goods.
The iron industry is so exploited by con-
solicitations and attempts of that nature
that it is wonderful prices have not re-
Elected distrust. Instead there have been
general advances in pig because the de-
mand has been large. for essemer at Pitts
burg to s11.40 and grey forge to sos and
in finished products because nearly all are
in demand beyond the capacity Of works
for some time to come. The advance of
10 cents per key in wire nails by the asso-
cation was not caused by any special
pressure for Supplies, but rails have ad-
vanced 50 per ton and bars 81 because OF
urgent demand. especially at Philadelphia
and plate mills are everywhere overcrowd-
ed At the same time the many negotia-
tons for consultations of interests arrest
trade in some quarters and disturb II in
others, causing unusual irregularity in
prices. The pipe consolidation appears to
be stopped for the moment by opposition
of one company but the activity Is greater
than ever before. About 10000 rails have
been sold at New York, half for a Nova
Scotia road. In hoops there is no advance,
and the Standard Oil company contracts
for 5000 tons at very low figures. Tho
demand for black sheets is beyond the
capacity of mills.
Failures for the week have been 217 in
the United States, against 219 last year.
and 81 IN Canada against 43 last year.
BRADSTREETS
New York. Feb. 10.-Bradstreet's Of to-
morrow will say: That some favorable
effects are likely 10 follow the atmospheric
changes of the week is evidenced by re-
ports of improved distribution at retail Of
heavy winter goods. while the effect on
spring trade appears to be chiefly regarded
as one Of retardation rather than Of posi-
tive injury. In leading staples the
strength of prices is still feature. al the
gains made in January being sustained. If
not further improved. Some reflection Of
the cold wave is found in the advance in
wheat, showing an inclination TO concede I
some damage to the witer wheat crop in
view Of claims that snow protection IS /
lacking in many sections. The strength Of
cotton. while 10 some extent based or
smaller receipts and reduction Of the
usual winter" crop. appears mainly due
to the cheerful tone OF the cotton goods
market and the strength Of demand.
In aggressive strength. alike Of demand
and price, however Iron - steel are
easily first this week and the list Of ad-
vances reported this week Is almost z. roll
call of that industry's products. Among
the advances noted might be mentioned /
barbed wire. stee. rails. southern. eastern .
and Bessemer pig iron. nails and wire and +
plates, the most strength being exhibited
in western markets. Copper is again high /
er and quotations are now not far from