The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1900-03-10
CHECK 70 PRODUCTION
But Distribution Shows an In
crease for the Week
COTTON MARKET REACTS
Wage Increases in the Iron
and Steel Trade.

New York, March s-R. G. Dun & Co..
weekly review Of trade will say to NOR
row: A certain hesitation in business
with shrinkage in its volume, is not IN
usual or unnatural at this season. It Il
not necessarily disheartening, therefore
if business is no longer as large in vol
ume as ever but falls behind that Of
February or January or of the CORE.
spending week last year. Strikes in
building trades or of machinists and 9TH
ers at Chicago affect many industries and
the wages of $1,000 hands. The remarka-
BILE rise in cotton has apparently met the
expected reaction, which tends for the
time to reDress business. A few great
corporations are striving to hold prices
without regard to present demand, hop
ing that the needs of the consumers may
prevent reaction and renew the rise of
last year. Wide differences Of opinion
also exist regarding the results of none
tary action by congress. Special causes
after a year Of unprecedented buying
That such trade could not continue with
out pause was evident, as there is not
the speculation which threatened none
tary trouble year ago.
The output of iron furnaces March
was 292, 643 tons weekly. against 29S,O14
February Il, and unsold stocks increased
35,516 tons in February, making consump-
ton 1920 tons daily, against Al 642 tons
in January. Temporary stoppage Of four
furnaces near Pittsburg by a strike and
the reduction of output by many furnaces
in blast, perhaps in part desired and in
part the effect of scarcity of coke, have
supported prices of pig and of finished
products, the only change being a slight
decline in plates. Much business is evil
IDENTIFY deferred just now because of
doubt regarding future prices ConneIls-
vile coke ovens are producing 219.221 tons
weekly, with 200 more ovens soon to be
added, but coke is hard to get, even at
$3.50 for furnace.
Cotton sold on Monday at oslo, the
highest point since January 10. 1888 when
the crop suddenly fell from 5000, 900 to
100000 bales. A sharp reaction came on
Wednesday and the price dropped three
siXteenths that day and closed IA below
the highest point. While the demand for
immediate use has held goods strong
there has been for some time small de-
sire to make contracts ahead.
Estimates of wheat in farmers hands
March 1, 164,0OoO0O bushels, according to
the American Agricu1turalist, do not in
dictate a lack fsupply thisiyear for with
"a, 100000 bushels in visible stocks there is
in sight nearly as much as a year ago
when foreign demands were extraordi-
nary, and yet the crop year ended with
over &c, 100000 bushels in visible supply.
This year net exports in seven months,
-four included, have been III, 221 S35 bush
els, against 1886, 407 last year, and in
February enough to make about 125. O0O.-
900 bushels, against los, coo bushels last
year, with no indication of a future for
eign demand approaching that of last
year from March 1 to July 1. Returns as
to condition of winter wheat are also sat
isfactory. But of late. prices have been
very low and have advanced this week
nearly cents for spot and cent for May
options.
London wool sales, so long awaited bv
spectators here to lift up prices again, |
opened with a severe decline of IL to
10 per cent causing such disappointment
that much selling is likely, especially as
manufacturers who have held out OF the
market for some months have still too
large stocks of wool and too uncertain a
market for goods to be in haste Prices
had previously declined little here, but
in small transactions. The business in
goods. though less active than had been
expected, is at fairly steady prices as yet. |
In boots and shoes there is no change in |
quotations, though not an eighth of the |
usual orders for booths has been given |
and not quarter for mems or women's |
heavy shoes, while the demand for light |
shoes has been the smallest in five years |
Shipments on former orders have been |
less than IN 1898, but larger than in the !
corresponding week of any other year
Failures last week were in amount |
IS, 4S2 S27, manufacturing S11S,651, and |
trading S2,16l,2l1
Failures for the week, have been 205 /
in the United States against 1S2 last year. |
and SO in Canada, against 81 last year.
BRADSTREETS.
New York. March 9.-Bradstreets to-
morrow viii say: Relieved from the |
hampering effects of stormy weather. |
general trade distribution has shown a /
tendency to expand this week. prices of |
many staples are firmer and higher. and |
generally, there is a better tone than /
noted for some weeks. Easily holding /
first rank in the matter of speculative ac- |
tivity, cotton early in the week touched /
the highest level, not only for the pres
ent season but for at least six years |
past. sharp break due TO realizing has /