The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1900-09-15
NEARING IHE NORMAL
In Movement and Price Basis
are Commodities.
CLOSED WORKS RE-OPENED
Boom in Cotton--Efect of the
Gulf Storm.
CLOSED WORKS RE-OPENED

,
city Of Galveston and doing damage in
1 other parts of the country. caused re-
duction in the volume of business at
the south, and railroads in gulf region
/ have probably not shown their maxi
mum losses of earnings as yet; but even
after such a catastrophe recuperative
power is shown AN added cause of hes
itah on in business is the order for a
stri1,N of the anthracite coal miners.
Other7 wise the working force has increas-
ed this geek for operations are resuming
at steel mills and the Michigan PENN
sular car plant and the Deering harvest
er works have started up after seven
weeks of jdleness with 1000 hands each
From man2' quarters Of the west and
southeast q better distribution of mer-
chandise is reported in jobbing and re-
tail circles. The weather has continued
favorable for the maturing corn crop
with cutting progressing and the crop
generally beyond danger, hut damage to
cotton by the storm is st,al an unknown
quantity. Prices of staple commodities
are higher for the week, ;hoisted by the
sharp rise, in cotton, but ia manufactured
products there is little change though
steady increase Of business at the cur
rent lever is satisfactory Cotton closed
last week at the highest price in ten
years and a large short interest was
awaiting reaction Instead there came
news of the disaster in Texas and SEN
sational reports that a million bales had
been destroyed. At the New York ex-
change trading, was far in excess of all
previous records, and prices rose by
bounds. Subsequently there were less
exaggerated reports from the south, but
the market failed to respond and mid
ding uplands advanced lie. The rise in
the raw material caused sharp advances
in cotton goods. Ia one week standard
brown sheetings rose from 5.67 to &C.
wide bleached sheetings from 20 to 81
standard brown drills from 567 to 5S7c
and staple ginghans from to 55Gc.
Buyers who have been delaying for weeks
are anxious to secure liberal supplies,
both near and distant Stocks in first
hands were cleaned up and sellers gen.
orally withdrawn from the market
Wheat rose above 50 cents again in
the face of receipts for the crop year
last year, while exports decreased 10
251,37S bushels, including -four Reports
of heavy rains in some sections and in
jury to the crop. with better inquiries
by foreign houses explain the advance.
More orders are being received at iron
mills and prices are steady. In struc-
tural and finished material there is
much business and activity becoming
almost universal in sthe IRON region.
Steel rails are waiting for the agreement
as to prices, which is expected to be
reached next week. 4 reduction in keep
ing with other steel products is consid-
cred certain and then the market will
be on a settled basis. Some large mark
ers favor $3.50 as the new basis and be-
lieve that nearly 100000 tons would be
ordered at that figure. Shipbuilding was
never more active and q feature was a
contract for coal pier TO be used in
the export trade. a
Boots and shoes begin to recover after
many weeks Of idle wheels throughout
New England. Orders are coming for
ward freely and return to normal con- |
ditions is in prospect Last weeks ship |
ments from Boston were only 671l2 |
cases, which is the smallest amount |
since the decline began, but increasing |
purchases promise an early gain in for |
wardings.
Condidonos are similar in the wool |
market where sales last week aggregat-
ed 4,643oO pounds, against 1906. 500 |
pounds a year ago. Prices do not fall as
might be expected in such a dull season
Failures for the week were 195 in the
United States against 149 last year and
50 in Canada against 50 last year.
BRADSTREETS
New York, Sept. H-Bradstreet's TO-
morrow viii say: Expanding demand at
advancing prices in many lines of trade
hnds us Chief eXemplar in the market
Tor raw cotton, which has witnessed the
greatest excitement. heaviest trading
and largest gain in price for at least
decade. Rarely, If ever in the history OF
the trade. as conducted on modern lines
has the igto' est displayed in that nro5uc+
been greater and the manufacturing in
terests Of the world find the situation
perpleNing one, while the prospects Of
large profits to producers are stimulating
all lines of southern trade E1clisb
SpinnerS. who are reported very generally
-
methods Of meeting the requirements 7,
a american cotton markets the situation.
from being a BUYERS market Short tir,a
ago. is now reversed. and sellers are in q
position 10 dictate terms. So spdaenl,-
mas 'ne outlook as viewed by the trade
tshefaliE changed. however. that manu.
i'c1oFers are unable or unwilling to de-
me 1heir exact position, or. II they ac-
ee2t new business. do so on distinct
oasis OF cost Of new supplies Maximum
cotton crop estimaters Of past years are
apparently Panic-stricken and predict
famine stocks for the end Of the wear
even With reduced consumption.
Most food prices are either firm Or
higher on The week. wheat being al
N@need en- better export demand ana has
weather at the northwest. proved bv The
l'w grade Of much Of the receiy.,s. t-orn
Is IN good demand, with scant supofes
% Old crop. and pork and Lard svmna-
ii'lze herewith Raw sugar IS stiI scarce
anu higher on the week. and cafrsa g
l'''e looally higher Among the few n-o-
o4e.S lower are butter and tea. Print
coths are ont of market al old o~ioas
ana southern cotton yarns have afvano-
ea' MOO! Is SIN rather weak and the
aen'ano Tor spring weight mems wear
IS stn Disappointing.
me predicted anthracite coal miners,
Str'Ae Is almost the onS unfava~shla
feature q the Industrial situation Tba
lren and steel situation has not usts-f-
ally changed and irregularttv II, sar,s-.5
and prices Is stiil teatura Pa.hs,
more talk IS heard cf influence a, e,ss-l i
'i.' uncertainties unoa FIXTURE trade and !