The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1900-06-16
TRADE LOOKS WORSE
Than 1t Is, and the Price
Drop Is for Good.
FARM PRODUCTS STRONG
Metals Still YieIding--E
Markets Dull.
FARM PRODUCTS STRONG

New York, June 15.-R. G. Dun & Co.
| weekly review of trade will say tomor-
| row: A season of declining prices is
never wholly agreeable to business men
I whose stocks are losing their value. Yet
there are times when return to the high
est prosperity in business is not possible
| except through REIMBURSEMENT of prices.
The highest prosperity the country had
ever reached, prior to the panic, was in
1892, with prices averaging not quite 70
per cent of their average in 1886. After
great depression for several, years the
highest point reached with last years
recovery was 81 per cent in March is,
but the gradual yielding has. already re-
turned the general average OF prices to
a shade less than 70 per cent, practically
where it was with the highe st prosperity
in 1892.
The output of iron furnices June l, was
296 376 tons weekly, an incr Ease of 2.526
TONS making the yield only 1638 tons less
than at the highest point et7er reached,
February l. But the increase of unsold
stocks TO 339, $50 tons about $1,000 tons in
expected inthe new business upon which
nearly the whole works and furnaces
have now to rely and reports that furn-
aces of considerable capacity have already
been closed this month seem likely to be
correct Within Il W eek or two the labor
organizations and the employers viii be
discussing new demands for higher wages
and shorter hours and the closing of
much influence about that time. Prices
are garadually changing, ar thracite No.
to 500 and Pittsburg grey forge to $3.50,
and sales of bars are reported there at
$50. AS the closing of furnaces and
works has more nearly adjusted present
supply to the demand, the fact that many
large operations are held back until prices
have been readjusted will have its proper
influence.
The boot and shoe branch has been
hindered more than any other manufac-
ture this yea perhaps, by differences as
to prices highest at CA icago and to
some extent in eastern makes, have yield
ed for months past, giving to dealers in
boots and shoes a belief that the high
prices demanded early this gear would
not De held The leather companies. how
sions but in general have resisted a de-
cline, with the reasoning that the real
difficulty is in the scanness of buying
demand and it is urged that wholesale
and retail dealers have on hand too large
stocks taken when the great advance was
in progress.
Reconstruction moves slowly in cotton
goods though a few quotations are
inthe market for raw cotton having some
influence. and the hating Of exports to
China on account OF the interior strife
there. As European manufacture is
likely to be affected in the same way, the
present conditions held these who look
for lower prices in the goods market.
No further change appears this week in
the wool market, although their stagna-
ton, with irregular prices for goods be-
yondthe most favored staples, stiu indi-
Gates a downward tendency. Silk and
hemp have also gone lower, and the re-
cent fall in rubber helds new business.
Wheat has been advanced nearly 5
cents, with accounts of extensive injury
TO growing grain and the export from
Atlantic ports, flour included. have been
in two weeks of June, 5,93717 bushels,
against 5,526,SO1 bushels last year. Pacific
exports. 1,5l5,3SS bushels, against 1,055,512
bushels last year and corn exports 6,OOO,-
462 bushels, against 5,12,959 bushels last
year The active movement from the
farmers seems to discredit many accounts |
Of injury, although receipts have been
somewhat smaller than last year.
Failures for the first week Of June
were, in amount $21lSSlS. of which 81.
OPS We're in manufacturing and $685.. 2S6 |
in trading concerns.
Failures for the week have been 162 In I
the Emitted States, against 135 last year.
anu i in Canada, against IS last year.
BRADsTREETs
New York, June 15.-Bradstreets to- /
morrow will say: Measured by recent rec
ords and recoIlecuons Of business activity. /
the present between seasons dullness
seems specially marked and the reaction |
airy movement of prices makes trade look !
worse than it really is. Judged by such |
indicators as railroad tariffs and stats |
tics OF foreign trade the volume Of bust |
ness doing is considerably larger than g. /
year ago. when, it viii be recalled. trade |
was cheerfully active. It is true bank |
clearing are considerably smaller than /
lasJ years clearings. undoubtedly includ /
ed much OF a speculative character. this |
year almost wholly absent. and Yet. out /
side Of the metropolis bank clearlngs are (
heavier this year than last
The cereal markets have held the bulk
Of the advance shown last week on The
strength 81 bad crop reports. but for
g 74r,s +f-r, 80, f-=