The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1899-05-27
Ill GROUNDED ALARM
Induced by the Very FuIIness
of Present Prosperity.
BUT WAGES STILL RISE
Summer Shut Down to be
Shorter Wheat Situation,
BUT WAGES STILL RISE

OiIUI (CI --fE llOQl OIluOliOllI
New York, May pr. G. Dun & Co.'S
weekly revl4M of trade will say tomorrow:
There is some fear that has no other
source than tie habit of fear. Men have
found for so many years disaster treal-
ing on the heels of apprehension that they
| lack :dith III good things present and 70
some. Every year there IS worry about
shoot csops, and yet the crops gsow la!s-
er. The spectre of monetary trolble
haunts men who know that the country Is
strong beyond any need. Promoting meth
DDS alarm men who are alre ldy quite
aware that it is only needful - ?Ht pro-
NOTED stocks in a class by themselves.
BY all the time the volume Of business
is rising, this weeks payments through
the chief clearing houses are 62.1 per cent
larger than last year and SO per cent lars-
er than IN 1892 For the month thus far,
the daily average is SO per cent larger
than last year anr 66.4 per cent larger
than in 1892. Moreover, this week and
every other brings larger wages to many
and increased purchasing power, and the
demand for products is consequently ex-
panding IN III branches Of consumption.
The rise in Bessemer pig iron to jl7.h5
at Pittsburg, 81 in two weeks; in grey
forge to S15.25; in anthracite No. l here
to $l675, and in local and southern iron
at Chicago results directly from the fact
that supplies are for the time less than
the denan nd. Many more furnaces are in
haste 70 begin work, some succeeding but
others hindered by difficulty Of getting
prompt deliveries of needed parts CT ma
chimes or prompt supplies of ore and fuel.
The natural remedy that new orders now
call for less work than was done in April
or March IS for the time hidden by en-
gagement OF nearly all concerns for
months ahead The largest and best
works are catching up with their orders
though much behind and obliged to refuse
many, while others are entering the field.
It is proof of an astonishing demand
that, after nearly five months, this con-
gestion continues and the rise in prices
including advances of % per ton in plates
and BAGS, are not forced or unnatural.
Minor metals have followed London so
long that tin sticks at 1855 cents, though
stocks are large and the demand is re-
markedly poor, and lead at SAB, though
the demand is slow while copper weak
ems to 1879 cents for lake, British statts-
tics Indicating a fall Of nearly one-quar-
ter in consumption for four months this
year, compared with last.
The heavy sales of WOOL 80, 400 900 pounds
at the three chief markets in three weeks,
against 2o7SO,SO0 for the same weeks in
1897, when the disastrous speculation Of
that year had begun TO turn, and 11,2l2,l5O
in 1892 are mostly to spectators, as
manufacturers are doing scarcely any
thing. Weeks ago they held that prices
were too high, even after some decline
for the prices at which goods could be
sold. But eastern spectators have set
tied it that the manufacturers will be
forced to buy at such prices as they may
fix, and are taking large quantities.
The cotton mills have a fairly good de-
mand after a considerable rise IN prices Of
goods and are producing largely. The
material has been steady at 614 cents,
with no ground to expect much change
and the best reports indicate a decrease
in acreage of 4 per cent.
Wheat advanced cents but lost nearly
all the gain on Friday. Western receipts
have fallen to about half last years and
exports in four weeks from Atlantic and
Pacific ports have been 1S,59O,16S bushels,
-four included, against 13,691,SS2 bushels
last year, while from northern lake ports
7.925o37 bushels have gone out this year
ut men forget that foreign demand, If not
as large as it was last year. with fam
Inc impending, 5 much larger than IN the
same week Of 1897. when wheat exports
We're only 5,70iSSl bushels, and also for
get that the Letter speculation caused a
wholly unnatural May movement last
year, for the western receipts in the past
four weeks have been 92SO,665 bushels,
compared with 192o6.255 last year, but
g.96I570 in the same weeks Of 1897, and
reserves in that year We're not especially
seduced. but closed quite large enough.
Cosn exports. though only 10 267,6 62 BUSH
els. against .2o2S5,o97 last year, were also
bar 2sGoo9l in 1897.
Failures for the week have been I42 in
the United tates, against 2i5 last year,
ana Is in Canada, against p. last year.
BRADSTREETs
New York. May 26-Bradstreets tomor-
row VIII say: Favorable features of cur
rent trade suu, as for a long time past,
largely outnum5e- those of an oDposite
character Wholesale distribution j nat
uraiiy less active as the season advances
but comparisons with last year are sin
very satisfactory. Much IS hoped for from
better weather conditions stimulating re-