The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1900-04-28

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| vaal, and America is building I'D in
credits abroad a breastwork against pros
| tration in future here as in the past,
caused by troubles in Europe.
The reaction IN prices came where it
was expected least, in the industry more
fully organized than any other to check
competition and in the branch which.
through contracts covering rod-making
and other machinery, and through pat
ents, seemed more fully controlled than
any other. Reduction of $50 per ton in
wire nails, barbed wire and galvanized
fence and SIS in smooth wire showed that
no control can afford to hold prices so
high as to check consumption. In a week
the prices of iron products have declined
$50 per cent and cince February Z, 1913
per cent AS the wire nail prices have
been relatively the highest, others in
the iron and steel industry can be ex-
pected to fall mike measure But Dig
iron is weaker. No. l local coke at Chi
cago is $3.50 and southern pig is also
lower Plates and bars can be obtan ned
for about Is cents in good contracts,
both at the east and at Pittsburg. The
proposed advance in sheets to 3.6c has not
been attempted and cut nail mills, which
have gained much by selling at &c per
key below wire nails, will now lower
prices also. The stoppage Of a dozen wire
and nail mills, basi3eS rod mills, at
Joliet, and another Of the National Steel
company, indicate some change in the
active demand. In the minor metals the
only change has been in tin, which de-
oil he, che
thy with lower London quotations.
The tendency toward lower prices is
strengthened by the idea that over
production may appear in other branches.
In cotton goods, after the rise of about
30 per cent following the advance in cot
ton, 1t is asked whether the surprising
increase in southern out9ut has not cut
off part of the demand, which eastern
mills find insufficient. In staple goods no
change is seen, but in other lines and
fancy goods irregularity is increasing and
greater concessions are made for future
delivery. Cotton futures fell, and re-
covered with good prospects for the next
crop, northern mills having taken already
what they will require until September,
but Ellisons estimates is thought likely
Nor has wool changed IN quotations,
though some sales of fair amount are re-
ported at such prices as 81 cents for Ohio
OHIO Xxx, and So cents for clothing, ter
ritory cleaned, but manufacturers are not
disposed to do anything and the west
asks prices which dealers have no reason
for paying. = The demand for wooden
goods is small and disappointing and, ex-
cept in staples, which are steady because
well sold up, prices are not encouraging.
Shipments of boots and shoes from the
east in four weeks have been 306, 1913 cases,
against 339, 49S cases last year, 504 601 cases
in 1898, and less in any other year. New
business bears no proportion to the pres
ent output, and the number of works
which are closed or running part time IS
increasing. Manufacturers realize that
this is a result of prices asked and of
slow retail distribution and long stocks
on hand, but they claim that lower prices
cannot be made without loss. Business
in sole leather is dull
The produce market is inactive, though
wheat yielded a fraction and corn gain
ed one cent for the week Exports of
both continue larger than a year ago. At
lanic exports of wheat. in four weeks,
-four included, having been 8,O93,5i7 bush
els, against S,017,4 ass bushels last year and
Pacific exports 2725,196, against 1873. so
last year. Corn exports in the same
weeks have been 1872 67 bushels, against
1O06S,525 bushels last year. Exports OF
merchandise from New York for three
weeks have been 379 per cent larger than
last year and with the aid of the heavy
cotton movement the aggregate of the
month promises to considerably exceed
500, 0o0,000 while imports here are 1876 per
cent larger than last year but viii fall
below exports by more than 80, eO0. 600
Failures for the week have been 2e4 in
the United States. against 1S4 last year.
and % in Cananda. against % last wear.