The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1900-07-21
CROPS ARE TBE KEY
To the Weeks Movements in
Trade and Prices.
SLUMP IN IRON AND STEEL
At a Bottom-Scraping Level
Textiles Waiting.
SLUMP IN IRON AND STEEL

| trade ana price movements. AS q result
of them nearly all staple agricultural
products are lower IN price and, at the
same time, a percepdble livening up of
demand for fall delivery is noted at the
west, northwes and south. The begin
ming of fall trade is consequently more
clearly visible in the sections mentioned,
while at the east the markets are slow
| to experience this improvement and are
! consequently reasonably duh. Bank
| clearings as yet fail to reflect any per-
ceptible improvement in distribution,
| and railway earnings, though of large
| volume, are, diving 10 comparisons being
/ made with exceptionally good results
with last year. showing less notable in
| creaseS both in gross and net returns.
! An increased cost of repairs, betterments
! fuel and wages are unitedly responsible
! for this latter feature, because gross re-
! ceipts for later periods show continued,
though small, gains. Hog products have
gone lower with corn, as has also wheat,
in which continued liquidation has been
noted, with the result Of inducing par
tial return of the export inquiry Danish
ed from the market by the recent heavy
Else. on the basis OF a crop of $50 900, 600
busels total crop. the outlook is that an
export of 132, 600 to $50, 100000 bushels
will be possible without reducing visible
and farm supplies materially from the
total estimated held OH July
Iron and steel prices are evidently
scraping on bottom, if reports from lead
ing centers, of cost of raw material and
" ages are correct. Besserner pig at Pitts
burg is on a ST basis, with billets at 81,
aga inst respectively $40 and 1913 a year
ago, so that much Of the boom prices
have been cut Eastern and southern
iron markets are lower than a week ago.
No 1 northern foundry being off 81 per
ton. and low grade southern iron is &C
cumulaAting. A favorable feature is the
increased number of inquiries from Eu-
rope. Soft coal is going abroad, too. a
cargo leaving for London shortly. Tin
is corneTed locally and higher on the
week while copper is fir1ner. Anthracite
coal is steady, and confidence in future
prices is n otable.
The textile situation is a mixed one.
Present prices for raw cotton and fin
ished material do not hormanize. Chi
nese troubles have checked export trade
in brown cott)ns, and a summer shut
down Of mills producing these goods and
print cloths is looked for. The crop is
emerging from the grass in good con-
dition
An encouraging feature is the rather
better inquiry for raw wool at Boston.
but manufacturers win not apparently
do much until the lightweight season
opens. Advices from London sales are
that the market has regained most Of
the loss shown earlier in the season.
Wheat, including -four shipments for
the week aggregate 3.O29,3S1 bushels.
against 2.S29910 bushels last week. BIOS
073 bushels in the corresponding week OF
1899: 2,303, 400 bushels in 1925: 1.97S.S29
bushels in 1897. and 3073.7 bushels in
1896. From July l TO date this season.
wheat exports are SS7S,123 bushels against
10 $50 SEQ bushels last season and 1872. q9S
bushels in 1S92-99. Corn exports for the
week aggregate 4,1S2,15 bushels. against
4.oo206S bushels last week. 1865 ,294 BUSH
els in this week a year ago, 2.s8212
bushels in 1898: 2,29S,379 bushels in 1897.
and L2SS,43S bushels in 1896 From July
tc date this season. corn exports are
I.S1S.521 bushels, against 12317,177 last
season ana h'j3.Jfo puSItlS IN 1SsS-SJ.
business failures for the wee knura-
her POP against % last week, ia in this
week a year ago. 1873 in 1898. 220 in 1897,
and go in 1896 Canadian failures for the
week number 26. as compared with 10 in
this week 4 year ago
DUNE REVIEW OF TRADE
New York. July 2).-R. G. Dun & Co.'S
weekly review of trade tomorrow viii
say: The midsummer vacation has al
ready disposed Of the prophets who gave
it a week or two. but there are a few
signs to indicate It's probable duration.
The compact Of lake ore producers in |
order to sell standard Bossemer ore be-
low $3.50 at lower lake ports this year.
with coke held at $50 much lessons the |
probability that the market will wait /
for Bessener pig to go far below SIS.
and some increased buying already ap- |
pears by makers Of implements. not as
yet in season contract. but enough 10 |
give hope Not much beyond waiting is
probable until wages for the coming year |
can be settled. The same EXPANSIVE /
building strikes whic hhave cut off The /
use Of much structural steel have. also 1
prevented vast use Of lumber which 1
was. like iron, Extraordinarily advanced /
in prices. The eastern association tried /
without avail t. hold prices and the
North Carolina association caused ex-
tensive curtau Of output. while the lake
association two weeks ago resolved -
maintain prices, but the needed market
does not vet appear.
When cotton had beben easily held
above Toe and then dropped sharply.
Liverpool Spectator again showed how
easily Americans are induced 10 accent
higher prices for the quantity they have
LEFT for sale The goods market, ovite
embarrassed ~ the best Is not halpa,i
by such vararies and the closing % i'm
portant mills was the more ue-sto-solls
because Il save occasion At the end Of
session with an oversup1'y here both of
goods and material to rest until Faro
peans have settled their affairs. without
formal agreement the wooden Industry
adopted in part the same course. many
mills have STOPPED or reduced force. 81
that experts believe that less than half
the capacity IS now AZ work because the
nature Of -he next seasar's demand does
not appear. There has resulted more VII
inEness - sell wool. especially where
warehouses are ,ot plenty. and prices
average fully . cents lower than n Feb
ruary. but manufacturers are inou:-fng
more earnestly 5ust now 70 ind out what
goods they can sell than where they can
get materials
Further important changes the exact
nature q which NAV not bs fully ra1o-t-
Cd. a-e appearing in the heavy declfne
= packer hides AZ Chioaro. ranging from
&c TO &c with sales said - - from
q 80 "a 5oeo5 and alec IN heavy sales -