The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1899-05-21

bears attacked the spec:alties, notably
| Sugar. Brooklyn and the New York trac-
| ton shares, with great violence and de-
! termination, causing notable recessions.
The uncertainties thus engendered led to
| subsequent dizziness. Il seemed 20 be
demonstrated that the large lines arcu-
INFLATED for the lifting OF prices were
held over the market and a powerful
bear force stood ready 10 take The mar
ket from any attempt A. profit-,at,:n;r.
There are enough uncertainties in the
general outlook TO confirm the hesitation
of speculation and a disposition to wait
further developments to indicate wpathsr
re present level Of prices is ccnsonaut
With the conditions of 1acney. and tke~e
is the inevitable ua1c-ta:.v regarding the
crops at this time IF he year. Talk Of
crop damage has a bearing on the future
earnings of RAILWAYS and i is no. an an
swer to this 20 compare the rrioe If
wheat with last year le7eI, when TIE
high price was due to the clam1r If the
whole world for our very abundant pro-
duct More to the purpose are The cur
rent statistics Of rail way earnings which
are well in excsss Of those Of las- year
for the grain-cLiI ring reals in spite of
the phenomeaaIIy heavy movement CT
wheat at the time n connection with the
Letter deal. Great attention is also sven
10 our international uaIe baance as
bearing on the 1orn.nance of the worlds
money markets recently erj"5c by New
York. The financing Of the 5000 600 pew
ment to Span, completed on Monday
without the expor.at.17 Gf G5lar CT
gold, was striking evidence of a residue Of
our exchange credit balance. But TIE
question arises whether the present move
ment Of international trade gives any
promise of renewing it. The rae Of ex-
change on London has risen &c per DC0nd
at New York during the week, and the
supply of bills : reported scan-y m
ports continue well above not only last
years level but above the normal C re-
cent years. Still, exports. though Ear be-
low last years unprecedented level, owing
10 the reduced prices of breadstutfs. are
still above the average for this tine of
the year and the excess Of expor-s for
April holds the record for that month, If
last year IS excepted. As this CONTINUED
advantage of position is due 20 :hc in
creased exports of or manufa cCure1 FRO
ducts, the future Of he iron trade has an
important bearing On the future tla3c
balance. The conlinIed upward ter 6ency
Of iron and steel pcoIJcts is expected TO
curtail exports in that iine. Under -hese
circumstances the disposition Of the Lcr-
don market toward American securities is
keenly scrutinized, as a selling movement
Of large proportions there might lrecipi-
tate gold exports. Money continues in
abundance both at New York ana inter
Tor points and there is no suggestion of
scarcity in the immediate future.
There has been large buying Of railroad
bonds during the week. the large .ndivid-
ual transactions indicating buying for
large financial interests. The new or con-
templated ISSUES 70" reorganlzlt:, n Or lie
funding. bearing > or per cent :nteres+,
have been the fav)ites. Uni-ei States
twos advanced D. the new folrs 4 and
the old tours registered and 'hrees = il
the bid price