The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1899-01-14
SUPPLYING IBE EARTH
Cotton, Corn or Cash, It's all
One to Jonathan.
PRICES OF STAPLES FIRM
Great Industries Show no
Sign of Weakening.

new York, Jan. 15.-h, ". Duh q "
Weekly Review Of Trade will say tomOr-
| row:
Contrary to the French saying, the ex'
pected has occurred. Rapid advasces II
| prices of iron and steel products have hao
their immediate effect, perhaps not to the
lasting benefit of the industry, for there
| is the same reason for doubt as TO its per
manency as in 1885, when shrinkage OF
buyers and reaction soon carried prices
lower than before. But there is SOW larg-
er demand for many other products, ano
without unwieldy combinations all are do
ing well. Throughout, the country was
never as strong financially, as even gov
errors of Losdon banks admit, one stat
ing that as London had financed America
heretofore, now for the first time New
York is financing Europe No evidence OF
weakness is seen in other branches of in
dustry, nor in those upon which the great
excess Of exports most depend
Wheat and cotton go out largely. Eu-
rope is buying because it has need and
New York is lending TO Europe nobody
knows how many millions, because there
is for the present no need TO call loans.
The receipts of 81, 500. coo gold from Aus
tralia is annousced at San Francisco.
Americans are in the humor of invest
in their own country and have great
amount of money TO put out without re-
calling any of their loans to Europe. so
that the heaviest transactions ever ksOwn
IN the stock exchange have occurred dur
ing the week without the evidence of re-
action for which many strong operators
have been looking.
In products also, the position of the
country grows stronger Last years ex-
ports of wheat and cors were far beyond
all precedent, but the past week has seen
exports of 1926, $50 bushels Of wheat flour
included, against 470 last year from
Atlantic ports, and in two weeks 9.452 109
against 6,0S6,7SS last year. besides exports
in two weeks from Pacific ports of ! ,724,
051 bushels, against 2,340,O00 last year.
Meanwhile corn exports have been in two
weeks 7,199313 bushels, against 6,091,57S last
year. 1t is quite impossible to accoust
for such movements on the theory that
at current prices this country is under
selling the world and has great quanti-
y
There was an advance of l 1-4c in wheat
during the week, but an increase in corn.
without asy indication that supplies are
running short, and the western receipts of
wheat have been in two weeks S,649, 1893
bushels, against 5,553, $50 last year.
Neither is there evidence of weakness in
the great industries. The output of pig
iron January 1 was 243, SIC tons, against
236,52S Dectmber l. showing a product of
about 5000 tons weekly more than has
been estimated with a further decrease of
S7444 tons in stocks unsold during Decem-
Der. But while the Australian order for
5000 tons is still on the market, with an
other EOrupean order for Il. 900 tons plates.
the mills are so crowded that prices are
moving up rapidly. Besemer pig iron is
only 10 cents higher at Pittsburg and Grey
Forge 15c. but plates advanced 10 cents
by the combination. MINOR metals are
also stronger, tin having risen in sympathy
with London to p cents and copper to
1862 cents and lead to cents. heavy con-
Stunning demand helping in each case. The
new combination in tin plates has adj
vanced the price to s. per box at the
works. There have also been large de-
mands for structural work, 10000 tons in
bridges and buildings at Chicago.
Wool is stffiy held at the west, although
at Boston, Ohio Xxx is quoted at % 1-2c
although much higher at Philadelphia
The wooden industry has cen hampered
beyond all expectations by the prices de-
manded for wool with the extraordinary
stocks yet unsold.
The market for cotton goods has been
fairly large and at rather better prices.
in accord with the price of cotton, which
has risen to SOS cents Receipts at the
south are for the moment much smaller
than heretofore, while there is accumulat-
ing evidence that the crop gathered late
and under unfavorale conditions Of wealth
er does not grade as well as was expected
Faslres for the week have been 31S in
the United States. against 249 last year.
and p in Canada, against IS last year.
BRADSTREETs.
New York, Jan. 13.-Brads.reet's tomor-
row will say:
Perhaps the most notable feature OF the
trade situation at present is the strength
Of prices of nearly all staples. but particu-
larry Of cereals. cotton iron and steel.
which have apparently gained further
ground since the first OF the year. Expla-
nation of the strength Of wheat. is OF
course, found in the good cash demand
which seems TO meet any slight reaction in
values and which has placed the price
as high as at any previous time for three
months past. Thus cereals and corn are
both in exceptionally good demand abroad.
judging from the large exports reported.
and good foreign demand : likewise the
secret of strength in cotton. shipments
Of which continue heavy. \ feature OF
dealings in this staple is the steady de-
uland for good grades and the indifference
manifested toward low grades. which.
owing TO bad weather at the south. has
been larger than the usual supply. Cotton
manufacturers, indeed. have been com
planning for some time Of the low spi7nins.
quality and waste OF the present cro7.
While large sales Of iron and s.eel are NOT
50 numerous as in recent weeks. further
advances in prices. notably OF pig iron.
steel billets, plates and rods. bear teSt!-
mony Of the esge-nsss % buyers % secure
supplies and the almost corresponding in