The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1895-05-11
BIG BOND SALES.
This Was the Business Event of
the Week.
Enormous Sales Completely De-
moralized Foreign Exchange.
TRADE rs REVIVING.
The Crop Prospects Have Very
Much Improved.

NEW YORK, May 11.-R. q. Dun q
Co.'S Weekly Review of Trade says:
The event of the week is the demon
alization of foreign exchange caused
by enormous sales of bonds abroad.
Besides sale of $40, 600, 600, Manhattan
and other railroad bonds through the
syndicate, large purchases on foreign
account have been covered for some
weeks, so that the aggregate probably
exceeds $50, OOO 600 since the sale of
governments. Safety for the summer
means much for all business, and the
syndicate deems it so fully assured
that it distributes 40 per cent. of the
money advanced by its associates
which relieves large amount to slim
ulate operations in security and prod
ucts Crop prospects also have greatly
improved and this is of still higher inn
portance, as it will do much to deter
mine the character and volume of all
business after summer uncertainties
are over. In addition, business is re-
viving, although the gain in great in
dustries is retarded by many strikes.
Sales of wheat for the week have
beer "a, 900, 600 bushels against 95 OOO,-
900 the previous week, and 81, 900, 900
the week before, and sales of cotton
$40, 900 bales against 1,O46, 900 the pre-
vious week, 1, 1872, 900 the week before.
But Thursday brought new activity.
Wheat had fallen ~ cents, but rose
cents that day. Western receipts are l.
467, 100 bushels against l, 264, 1854 last year
and Atlantic exports of -four included
1,615,C 51 bushels against 2,214, O41 last
year. In three weeks since the rise in
wheat these exports have been $780,,
121 bushels against 7,949, 971 last year.
Pork has fallen 25 cents per barrel,
lard 20 cents and hogs 80 cents per 100
pounds Cotton is lower and receipts
in spite of a bad prediction of great
decline, still exceed those of 1892. The
industries were distinctly gaining
when strikes began. which have spread
quite widely.
Garment workers in several cities
and Pocahontas coke workers are still
out, with several thousand wooden
! workers, near Providence. Other
wooden mills and the furnaces in the
Shenango and Mahoning valleys,
which were making rs. 900 tons per
| week, have stopped, as has the Illinois
| steel works. the largest western con-
/ Germ. SO stocks are directed affected,
which produced 20 per cent. of the en-
tire output April /. The Amalgamated
association also proposes struggle
over the new wage scale.
The output of iron still exceeds the
consumption, but has fallen 1,575 tons
weekly in April to $50. 554 May 1. Bes-
semer pig has been raised to $40 90 al
Pittsburgh and the general demand
for finished products does not equal
the recent output, but is distinctly in
creasing, bars and sheets selling more
largely, though structural specifca-
tions are disappointingly slow. The
more noteworthy gain is in orders for
steel rails, $1,000 for the Pennsylvania
and 5000 for western road. Coke
| production still lessons, 6. 722 tons for
the week, and &c. 356, or % per cent, in
| the past three weeks. Tin has been
raised 144 cents, and copper to 1915 by
increasing demand.
Sales of wool for the week are less
than in 1892, but larger than in the
past two years, though prices do not
rise. Rather more demand appears for
mems woolens, but cancellations are
! also more numerous, and imports of
wooden goods with Withdrawals from
warehouses were about $19, 200, 900 in
the first quarter of the year. against
about SIS, 900, 900 last year. Cotton
! goods continue strong, mills being well
employed, and they hold heavy stocks
of raw cotton bought at low prices.
The failures this week have been 227
in the United States, against 2O6 last
wear, and 81 in Canada, against AZ last
year.