The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1896-08-22
Exports Are Largely In Excess
of Imports.
Dun's Report Says This Has
Started the Gold.
DEPRESSION GENERAL.
Hardly Any Improvements In
Any Line of Trade.
Wheat, However, Advanced !
Cent During the Week.

New York, Aug. PR. G. Dun's
weekly review of trade says: Political
events of the week had no definite
influence upon business prospects for
the phenomenal variations in sterling
exchange and the beginning imports of
gold may be fairly attributed to the
accommodating of merchandise exports
over imports to which attention has re-
peatedly been called, exports from New
York for the past two weeks having
been 20 per cent larger and imports q
per cent smaller than last year. The
rapid movement of grain and the sup
ply of early marketing cotton tends
to strongly aid the banking syndicate
which has undertaken to regulate the
foreign exchange.
Speculation has advanced wheat
over 1 cent during the week. corn a
small fraction and cotton IS cent, the
principal motive power being reports
of injury to growing crops. AS before
the unfavorable accounts respecting
wheat are in some measure discredit-
ed by the continued heavy movement
from the farm, western receipts having
been TO, 164, 637 in two days against s.
796563 bushels last year. With prices
8 cents lower than last year such a
movement can not be INTERPRETED a
"A
exports for the same week have been.
flour included, 1882. $50 bushels against
2,995,233 last year.
The movement of corn continued
heavy although it is strange why that
product is put in cars instead of hogs.
The alarm about the destruction of cot
ton has worked discouragingly most
vigorously here and abroad and read
lily raised the price although it is vet
hn WI 10 vital 1-or
so far diminished as to warrant a
price nearly a cent higher than a year
ago.
Some additional heavy failures in the
lumber trade call attention to the con-
tinuing depression which appears to
result at least in part. from expecta>
tons entertained by many that the IN
limited increase in new building during
the past year or two would be perma-
nent.
The iron and steel manufacturers
report a continued depression. Besse~
mer pig has sold at 5000 at Pittsburg
While southern iron is offered at prices
equivalent to SO at New York. and
nearly all finished products are being
sold below the current quotations
There is a rapid curtailment Of produc-
ton, the Ilhonis Steel company HAVING
only seven of its seventeen furnaces at
work but in spite of this the supply of
finished products appears to greatly
exceed the demand for them. The one
bright spot is a sale of 5000 tons of
steel rails to Japan for reftting rail-
ways in that country which makes an |
aggregate Of $4,000 tons exported dur |
ing the year. Nothing encouraging
can yet be said regarding the wooden |
manufacturers and the demand for |
goods even at reduced prices is still
disappOintingly small. Sales of woods |
at the market price have only been T. |
$50. 600 in three weeks against $685.. 200 |
last year and 23.861, 400 in the same |
week of 1892. A heavy auction sale OF |
cotton goods brought prices which |
were considered quite encouraging and |
the current demand is fairly main> /
tanned. although the mills are not in |
clined to make large contracts for the |
future, in view of the rise in raw ma |
terial. In general the work in force |
for the textile branches does not ap- /
pear to have increased.