The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1899-06-17
WEATHER AND CROPS
Figure in the Trade Situation
to an Unusual Extent.
GREATER ACTIVITY IN IRON
Financial and Export Figures
Which are Eloquent,

CltlOnS nSure 10 a greater extent Una
usual this week, not only in the domain c
actual distribution but in their effect o
values of staples. particularly agriculture
products, a majority of which are higher
Noteworthy in this respect is wheat, whic
has advanced on government and other re
ports. pointing, according to some, to $50,
600 900 and some other estimates as low a
0Q,000,900 bushels. The possibility is ais
| presented of spring whet, for the frs
time on record, equaling if not eXceedin;
in yield that of the Winter-sown grain
| owing to the severe weather last winte
and insect damage to the latter crop since
then. Particularly helpful, however, il
advancing prices have been the eportS
| Of widespread damage to the Russian crop
| less glowing spring wheat reports from
the northwest and tentative estimates OF
| the worlds crop pointing to 200 10000 tc
| $50 100000 bushels smaller in yield than in
| 1898. ats and other cereals have sympa-
| thized with wheat, particularly as acreage
and condition figures point likewise to d.
minished yields. Hog products have
shared the strength Of cerea.s, but cotton
remains unchanged, Notwithstanding re-
port of decreased acreage and very firm
condition in the manufacturing goods
trade rather rejecting, in fact, reports of
improved crop conditions at the south as
the result of the breaking Of the dry spell
in the gulf states. The crop Is, however,
still backward. Advices as TO distributive
trade are in the main very favorable. Hot
=
orders for fall delivery are reported in
larger volume and earlier than for years
past. At some centers, in fact, less than
the usual effect is looked 70 from season
abe midsummer influences. This is how
ever, best illustrated in the iron and steel
trade, which displays unexampled activity
as regards summer production and con-
sumption, limited only by the obtaining Of
supplies. Advances along the line are in
the futures trade. Predictions of a fur
Their advance in the price of rails are
mare, based upon the fact that old con-
tracts at very low rates have now been
nearly filled Notwithstanding these ad
yonces. there is still some export inquiry
and a failure reported has been On CONT
mental account for American coke. Amer
thee weeks late nearly equal those Of a
year ago. Long abandoned eastern ore
mines are being reopened ana shipments
OF Alabama steel and Texas pig icon to
Pittsburg disprove the truth Of the old
proverb that there is little profit in carry
ing Goals to Newcastle
Wheat Including f1our) shipments for
the week aggregate 2,I99, al bushels,
against 315S,047 bushels last week, 1885,
7S7 bushels in the corresponding week Of
1898 2,547 319 bushels in 1897, :, DO III bush
els in 1886 and 1851 307 bushels in 1895. Since
July l. this season, the exports of wheat
aggregate 21S.622 954 bushels, against 225,-
272, 833 bushels last year. Corn exports for |
the week aggregate 3,2S5,3O1 bushels, |
against 3.339 SO bushels last week, 41o6, 7O6 !
bushels in this week a year ago, 1924,313 |
bushels in 1897 1910, 761 bushels in 1896 and |!
SIS, 951 bushels in 1895 Since July 1, this |
season, corn exports aggregate 13, 425, 726 |
bushels. against 19,04O026 bushels during |
the same period a year ago.
Business failures number $50, against IFS |
last week 207 in this week a year ago, 226 !
in 1897, 265 in 1896 and 231 in 1895. Canadian !
failures number %, against 10 last week |
and in this week a year ago, "a in 1897, IS |
in 1896 and so in 1885
DUN'S REVIEW OF TRADE.
New York, June 16.-R. G. Dun &
Co.. s weekly review of trade will say to-
It is one of the frequent para
doxes of business that the one thing
which now makes prices rise is the only
thing that clouds the future. The rise N
iron and wheat IS because scarcity Is
feared but the scarcity, if prolonged and |
real, woJli much impair prosperity. In
wheat, ii docs not seem to be real, nor,
n iron, lasting, and meanwhile other ele-
nents oc = osperity continue potent. 1t /
5 grea. thing in the months markets
hat exports Of gold have caused no APP
orehensio7, bec1us recognized as mere
borrowings by foreign bankers, the May
return of foreign commerce showing ex-
ports SO, % 000 larger than imports, in
spite of a decrease in the export price cf
wheat and a large increase in impo--s.
IN eleven months the excess of merchan-
l.se exports has been S499, 000, 900 and ths
bankers estimate that S250. 600. 900 worth
# securities have been returned from
europe with so few in recent months
hat the amount remaining 70 be dislodg-
d is probably small.
The scarcity of iron Is real, in spite o.
he greatest production ever known in
his or any other country, go 90 tors
weekly June l, against 25o.095 Nay !.
stocks were reduced 7o.092 tons IN May,
Indicating a consumption of 1870 SOS tons,
gainst 1105o,o11 tons per month last year,
he greatest ever known. Consuming de-
aand does not seem 10 diminish and sp-
ears greater because 1t fails upon works
rowded for months ahead with contracts
L lower prices. but some OF il IS specu-
alive and would cease with prospects Of
over prices. With more furnaces going
lto blast, ten last month. production will
ver-ahe the demand after a zine and the
argesr buyers OF finished products for
Implements and car works and railroads /
re taking nothing 20 cover next years |
eeds. Pis has been irregularly strong at
ne cas- tand az Chicago and unchanged al
'ittsburg, while finished products average /
y per cent higher, plates, bars. pipe
nd rail sharing the advance. with de-
laDd for structural forms and sheets BE-
ond the capacity II works. Even IN
ais per cent discount on quick pay-
lents is stopped.
Woo]eas gained uttls further advance
] clay worsted and indigo blues az ger.
rally strong demand aad works vel en-
agsd ahead But dealers face the stub
orn fact that CONSUMERS accustomed 70
saep grades make every advance diff
lli and mills APPEAR 10 be buying very
tile in markets which are counting
-rgely On rise in wao, Sales. mostly
stween traders. have been IN Two weeks
2s7.Ta3 pounds fa-s- So rrr,~4s ssr-,rs