The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1900-07-28

Dun's Notes Producer and
Consumer Getting Together.
BETTER STATUS IN IRON
Grain Situation Less Panicky
Huge Corn Crop Coming.

New York, July H.-R. G. Dun & Co.'S
weekly review of trade will say: Specu-
lative activity in raw materials is not
present to discourage new business. Pro
ducers and consumers are getting to-
gether in more than one direction, ST.
though midsummer inactivity is empna-
sized by disturbed foreign relations ard
hesitation always attending a national
, political campaign. False reports are TO
be feared; but the dangerous optimism CT
last autumn is lacking, and new bus,nt SIS
is at lower prices.
4 STOP to the decline in WOOL brought
many manufacturers into the market
| asking terms. Good sales OF California
| and territorw WOODS were made to mills
and the trade expects larger purchases
to follow the opening of spring goods by
! the American Wooden company rext
! week. Holders who have had difficulty in
storing were the chief sellers. SAFES OF
wool at the three chief markets were
only 4,337500 pounds against l0,773. 800
pounds last year.
Cotton improved slightly and more bus
mess occurred in cotton goods. A reduc-
ton of from TO 6 81 cents in Hope A.
bleached cotton closed out the entire
stock in forty-eight hours, prices then
being restored.
Similarly in iron. the depression in
which has resulted in hesitation and fear
in other industries. the tone. is better;
and in the Pittsburg district the IN lis
have booked a line of fair nr,la-s i'll bars
and stripes. Structural AMI hri IL. na-
terials are better taken. The refusal of
the Aanalgamated association 10 allow a
change in the wage scale adopted in May
has led to strikes at numerous bar mills,
and the Republic company IS to dismantIe
some plants to secure concentration, but
the non-uElion capacity win prevent seri-
GUS scarcity. Further business in bars
shows that agricultural implement max
ers are more active. Grey forge has fall
en- TO sl5 at Pittsburg, ard Bessemer
steel billets sold at $19. With the uncer-
tainty of the conference Of the steel COM
panies at Chicago removed, buyers may
proceed with less anxiety. Exports or
der advanced elec3rolytic copper from
II IA cents to Is 3-S cents in large lots
JCbbers in boots and shoes are demand
ing prompt delivery on OLD orders. but
new business is scarce Manufacturers
are taking leather only for immediate
needs. but sole is more active and large
scale Of betting at a modera te concession
is reported Packer hides sell freely at
Chicago at the recently reduced price.
It was nor at all surprising that wheat
declined still further this week, for the
price had been held far above the quo
tation ruling at this date in 1899, and crop
conditions are so generally satisfactory
as to assure an abundance for all home
requirements and the usual amount for
export. High prices have Curtailed for
egn buying 10 some extent, and in four
weeks Atlantic exports of wheat, includ-
ing -four. have been 7.2GG436 bushels,
against S,42o.431 last year. The shipments
Of corn make a more satisfactory COM
parison. in four weeks amounting to r.
100, 1875 bushels against u,SS1,479 bushels a
year ago.
Failures for the week were 221 in the
United States. against 151 last year. and
% in Canada against % last year.
BRADsTREET's
New York, July 27-Bradstreet's to-
morrow VIII say: Important changes in
trade and speculation are notably lack
ing this week, but counter-currents Of de-
mand in various stations and industries
lend a rather more than usually irregu-
/ lar appearance to the general situation
Among the notable features calling for
notice are the practical assurance of an
| immense corn crop by the recent copious
rain in the further west, and the con-
| tinued cheerful reports from the sections
which have harvested and are now mark
citing 4 large winter wheat crop. Advices
are Of confined Improvement in tone IN
the northwest, with reports Of renewals !
Of earlier cancelled orders for fall goods:
fairly satisfactory gains in gross railway /
earnings; less weakness in the price Of |
the country's leading cereal products, |
based apparently on renewed buying for |
export, and rather more inquiry for raw /
wool by manufacturers.
Unfavorable elements in trade probably |
find their chief and greatest exposition |
in the iron and steel business. That in |
dustry is. If possible. more depressed /
than at any time for three years past, |
and expectations that price declines would |
5e checked by the arrival OF finished mat
ter at q cost basis have been disappoint-
ed, because this week steel bars have /
been sold in some instances al ! cent per
pound. which Is unquestionabIy below
the basis OF cost OF raw materials and
Manufacture. That a large tonnage OF
this material and southern pig iron has
been worked of seems certain but it is
stiu a buyers market, with everything
that this implies. Export business would
undoubtedly expand II ship room were
available. Among other metals tin is
locally lower on free arrivals. after. touch
ing the highest price in twenty-seven
years
Trade in dry goods. at thesast pa-licu-
larry, seems backward pending a clearer
realization o fthe cotton goods situation.
Bleached goods have been reduced, but
grey goods and brown co,to8s are steady.
some re-selling of their raw cotton by
eastern mills Cor export IS reported
Satisfactory progress IS reported as 10 the
growing Of the American and Egyptian
crops, and the margin between % ard
new delivery tends to widen. Rather
more inquiry for wool az eastern market
5 q sign Of manufacturers getting ready
Tor the lightweight season
Wheat. including four. shipments for