The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1900-06-09
Attention ID PRICES
With REIMBURSEMENT TO Cur
rent Conditions in View.
CEREALS THE EXCEPTION
To the Settling Down--Efect
of Foreign Wars.

New York, June s.-Bradstreet's tomor-
row will say: New business at wholesale
is OF a between-seasons character, but
warmer weather has offered stimulus
to retail business in some sections. Chief
activity and most attention is, however.
still concentrated on the price situation
and efforts to re-adjust quotations to
meet current and supply conditions go for
ward steadily. The exception to the gen.
eral downward trend OF prices is that
furnished by leading farm products, nota-
bly, cereals; but here the moving cause
is handy a favorable one, being the re-
suit of less satisfactory crop reports,
particularly from the northwest, and it is
to be noted that advices from the central
west, where the winter wheat yield
promises TO be very short, are also less
favorable. The northwest has had some
rains but, it is claimed, not enough to
render the situation free of danger. Corn
cr0o conditions remains favorable, as
likewise do those of oats, but the grains
and hog products have sympathized in
the upward movement of wheat which
has at last broken from its lethargy and
is again attracting speculative attention.
Foreign crop advices, it might be added,
are not fattering. The German ry crop
promises TO be very short; the same re-
port comes regarding French wheat, and
English crop advices are not of the best.
If, as has been claimed, lowered prices
for iron favor an increased consumption,
current developments in this trade may
be classed as favorable, because conces-
sions are being steadily made in nearly
every branch Of trade. The price of Bes-
semer pig and steel billets for the last
half of 1900 has been agreed upon. the
result being a drop of Is per cent in pig
iron and of 20 per cent in billets from
the old nominal quotations, which. how
ever, have not been closely adhered to OF
late Southern iron advices are OF shad-
ing in quotations, in sympathy with
similar action taken at Pittsburg Chicago
and other iron markets. Prices at Biz
mfngham are now on parity with those
of Europe, freight charges considered,
and here, as in the north, the possibility
of labor troubles intrudes itself.
Cotton is slightly weaker on reports OF
heavily increased acreage but the crop
is late and advices this week are of an
excess of rain in the Mississippi valley
and Texas. Cotton goods are dull. Wool
is dull and on the whole slightly weaker
at eastern markets. Mems wear goods
recorders are of fair volume, while mills
engaged on women's wear goods are
fairly well employed. The outlook favors
lower prices for the new spring weights.
Little that is new comes from the shoe
business. Leather is dull and rather
weak. Price shadings are reported the
rule in lumber, and these, coupled with
low water in t9le northwest, restrict new
production. s5ee
Surplus visible wheat supplies are de-
creasing rapidly, lending interest TO cur
rent unfavorabIe crop reports. The de-
crease in American stocks, as reported to
Bradstreet's May. was 13390.o00 bushels.
against a falling off of e,O33, 900 bushels in
April Supplies in Europe, Australia and
Argentina also decreased. though to q
much less marked extent, and the result
is an aggregate worlds supply on June
! of 1IS.5S3,0O0 bushels, a supply of 15,-
665 coo bushels less than on May |, and
comparing with decrease in May q year
ago of less than 100000 bushels, and
two years ago of an increase Of nearly
100000 bushels. The decrease in Ameri-
can and European supplies is the largest
reported in any month since 1898, and is
the largest reported in May since 1895.
Business failures for the week number
1S4. as compared with 135 last week, IFS in
this week a year ago, POI IN 1896, 256 in
1897 and 234 in 1885. There were Sc fail
ures in aCnada in May involving $751;
$50 Of liabilities, an Increase of 13 per cent
in number and of 70 per cent in liabilities
over the same month a year ago.
DUN'S REVIEW OF TRADE.
New York, June S-R. C. Dun & Co.'S
weekly review of trade tomorrow will
say: The adjournment Of congress after
a successful session. the progress toward
peace in South Africa, and the rapid ad-
justment OF prices here TO more natural
level tend to bring nearer the day of
greater activity. But that progress has
not been rapid, and the yielding Of prices
affects many as a reaction, cutting Off
part of the profits supposed to have been
secured. The impression grows, also. that
no extensive changes in business are row
probable until after the presidential cleo
ton, and the possibility of trouble in
China has at least as definite an in
fiuence upon American affairs as any
change in South Africa The unsettled
condition of labor controversies. more
over, operates strongly, for the time, to
limit expansion Of domestic business. Yet
the volume Of business is SO large that
few months OF waiting could not ex-
cite any apprehension.
1t is but a few days since a promin-
ent ironmaster overwhelmed doubts and
questions by positive declaration that any