The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1900-03-24

Weekly Review of Trade tomorrow will
say: In it's first week of operation the
new monetary bill has given satisfaction
at the treasury and to banks. Applica-
tons for new per cents have exceeded
s106, 900 and the net increase in bank
circulation is alerady over $4,000 900. As
the rate at which new circulation can be
issued is limited, except for banks which
gave orders in advance of the passage Of
the bill and the issues at first are largely
for the increase of notes for the par
value of bonds deposited, little can yet
be inferred regarding the ether increase,
though applications indicate that it will
be large for interior banks. The release
of millions employed in preparation for
action under the new measure has caused
in bank returns considerable changes,
which are nominal rather than real, and
the money markets are undisturbed.
The reported settlement of the Carnegie
Prick controversy is one of the greatest
Importance to the iron and steel industry.
A fight between such forces would in
the end have affected prices and values
beyond calculation, while the combination
of interests now said to be agreed upon
may prove revolutionary in its influence
Whether markets will be Immediately at
fected is not clear. AS yet the tendency
towards reaction of prices continues
Though in the Pittsburg region bessemer
and basic pig are strong. But eastern
bessemer and grey forge and southern
pig are sold there at prices below those
governing in large transactions, and it is
1,,I,, Il - ,oIri
which appears to O coed the supply. East
ern markets are weaker, with reduction
of 81 per ton at Philadelphia in some
grades The finished products are gener-
ally unchanged, though sheets rise at Chi
cago with the coming combination, while
plates sink lower at Pittsburg. and to
the lowest point since April 3, 1899, at
Philadelphia.
Cotton holds at e7s cents for spot, with
heavy export demand, though futures are
weaker. Receipts have exceeded last
years for the week though not for the
month. The goods market here is only
strong in demand for immediate needs,
few caring to base future dealings on
present prices. while some make con-
cessions for distant deliveries.
The London wool sales have shown a
shade more strength more than those of
last month, and considerable American
purchases of some grades indicate the
true position of the prices asked here.
Yet the markets here are called stronger
in tone, although of the sales reported
much the greater part were at conces-
sions, and manufactures are doing very
little. Sales at the three chief markets
were only 4,S00. 800 pounds, OF which SID
500 We're domestic The state OF the goods
market does not encourage manufacturers
to pay the prices now asked. There is not
only little ground to expect an advance
in prices, but in other tnan the leading
grades some concessions are frequently
made to secure transactions, and the bus
mess Is still disappointingly restricted.
The manufacturers have advanced hem
lock sole cent In spite Of a further fall
of IL per cent in hides at Chicago. max
ing the declines 3 per cent within four
weeks.
The advance in wheat which followed
statements of the quantity in the farmers
hands has not been maintained, and the
decline the past week has been is cents.
corn also yieldingi about Z cent. Allan
tic exports were 1.753.02S bushels for the
week and for three weeks only 4,762. $50. |
against S.IS0374 FOR last year. Receipts
at western points in three weeks have
been 1877, 231 bushels, against 10.Is1. a57
last year Meanwhile Pacific exports are
heavy and in three weeks have been B.
1923 bushels. against 1.e56.277 last year.
The foreign demand for corn still les
sens. though 2942. IL bushels went abroad
during the week and in three weeks S.
49, SO. against i. 313. 40 last year.
Failures for the week have been 1S3 in
the United States. against 30 last year,
and q in Canada, against p last year.