The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1900-07-14
HOPE N The FARMS
Trade Can't Go TO Smash
With So Much in Sight
OF GRAIN AND COTTON
Failure Situation Not So Bad
as 1t Looks.
OF GRAIN AND COTTON

New York, July 13.-Bradstreet's to-
| morrow will say: While trade is still only
Of midsummer volume, the beginnings of
| improvement in demand are apparently
! becoming visible. The improvement is
still one Of tone rather than of demand,
but with a yield of 54O,OO0,OoO busiest of
wheat, a next to record-breaking yield
Of corn and very large production OF
| oats, the western crop situation contains
many encouraging features. The south
ern cotton crop has undoubtedly suffered
and condition is unprecedentedly low for
this season OF the year, but. the acreage
planted was a leading one and prices are
so much higher that a satisfactory tnan-
claI return is confidently looked for. In
addition, railroad earnings point to the
maintenance Of the business Of the coun-
try at a volume in excess of last year.
The effort of the big iron and steel
concerns to control prices. If really made,
has proved abortive, and another whole
sale slashing of quotations is to be re-
ported this week. Production, however, is
falling OF, and Increases Of furnace
stocks, though considerable, would seem
small If renewed activity occurred. 1t is
hard to see how lower prices can be ex-
pected and IL is said that present quota
tons are attracting some business, par
ticularly at Chicago. The situation in
cotton goods is an embarrassing one for
the manufacturers. Raw cotton, old crop
this week reached the highest price in
ten years, but nothing like a proportion
ate advance is being secured in many fin
ished products. Export trade with China
has been checked, several mills have shut
down, and short time during the sum-
ner has been practically agreed upon by
the Fall River print cloth mills. A rather
better tone is noted in the dry goods
market at New York, with symptoms of
expanding demand chiefly, however, for
seaGonable goods. Concessions in prices
have induced rather freer buying Of wool
at some centers, end the tone of the
London sales is frmer, but the goods
market shows little animation. The in
dustria1 situation is rather better as a
result of agreement upon wages by A
number OF iron and steel manufacturing
concerns and their employees Lower
prices for lumber are apparently induc- |
ing more activity in building. though
how much is due to this or how much !
to the settlement of labor disturbances
is hard to measure.
Wheat, including -four, shipments for |
the week aggregate 2S29,91O bushels. |
against 2.01S,S32 bushels last week; $685. |
SIS bushels in the corresponding week of |
1899; 2.910S 27 bushels in 1898; 1,522, 092 BUSH |
els in 1897. and 1858, 949 bushels in 1896. |
From July to date this season wheat |
exports were 5,S4S,742 bushels, against |
1922. 1877 bushels last season and 5, $50 46e |
bushels in 1883. Corn exports for the |
week aggregate 4,022. oG8 bushels. against |
3G14292 bushels last week: 4553, 759 BUSH
els in this week a year ago; 2s22. 24S
bushels in 1898; 2,723. so bushels in 1897,
and l110,371 bushels in 1896. From July l
10 date this season corn exports are
7. C35, 1862 bushels against s 65o $50 last sea-
son and 5.233. 52O bushels in 199S-99
Business failures IN the United States
for the week number 221, as compared
with 1i6 last week, liza in the week a year
ago. 22S in 1898, 241 in 1897 and 255 in 1896.
business failures in the Dominion Of
Canada for the week number %, as COM
pared with . last week, 27 IN this week
year ago, IS in 1893, So in 1897 and 90 in
1896.
DTrN'S REVIEW OF TRADE.
New York, July 13.-R C. Dun & Co.'S
weekly review Of trade tomorrow will
say: If the great increase in failures to
S1Co so. 134 in the first half OF 1900, against
80, 6f4 col last year. and especially to So
a92 .079 in the second quarter against ST.
igent search failure returns will be
worth nothing. But today i: was shown
that thirty banking failures for S25, S22,-
$50 against 81 last year for S7.691.72S ac-
counted for much Of the difference. and
2G5 brokerage ana real estate failures for
go. 122 336 against 145 last year for only
s. SOS, 2l5 accounted for another part, and
that in building and lumber working and
trade other large failures distinctly con-
nected with those in real estate explain
much more of the difference between
and trade failures last
year and this. In these and much less
important changes in d few other lines
are seen substantially al the commercial
disasters as yet resulting from an amaz-
Ing rise in prices last year, followed by
weary but largely successful efforts the
past few months TO set to a normal
state Of business. When this IS seen and I
he remarkable steadiness IN number and :
size Of the great majority Of failures not
Tor exceptional amounts. there appears
ground for especial satisfaction that bus
ness hs been on the whole so soundly Y
conducted under conditions OF unusual :
hanger. The Iron Age makes the outpu, ,
i pig pc IS tons weekly, July !, but =
he decrease O. 16,0eo tons has by this
inc been exceeded. other furnaces hav-
ne stepped this month. and repairs OF 4.
; o-ks and OF wage scales may yet O. ;
'upy some weeks. The increase Of S. '
IS tons In stocks unsold implies a de- r
.cease IN manufacture more than double
he decrease in output. and works Of FIVE =
y the great corporations ara waiting for
decline in wages just when the work
rs have looked for an increase. open :
markets are now admitted at PIttsburE. =
where quotations have been for some
ime nominal. and Bessemer pig is offer
d there at SIS Structural makers de-
ided not TO reduce prices, but steel bars
here and plates atPhiladelphia are said 1
o have sold AZ s1.15 in some cases. The !
'heet works open Monday with larze or
iers. Coke forks about Is per caat idle. c