The Topeka state journal., 1897-11-06
And Many Are Compelled to Re-
fuse Orders.
FAILURES ARE LIGHT.
Prices of Stocks Decline and
Little Activity is Shown
Because So Much Money is Tied
Up in the q. p. Deal.

/ the condition of business could not De
given than is found in the detailed re-
port of failure by branches of business
for the month of October. Though swell
ed by a few large speculative or brOk-
/ erage failures, the aggregate was
/ smaller than in any other month for
! more than four years except in July
! and August and one month in 1894. OF
| trading classes, failures have never
/ been smaller in groceries, jewelry and
! books except in one month"; in clothing,
| furniture and uncIassified trading ex-
| cept in two months and ten manufac-
| turing and eleven trading classes out
/ of IA each have never reported smaller
failures in a third of the past 48 months.
Improvement SO general with a re-
markable low average of liabilities in
most classes, has a meaning which can
not be mistaken. The quiet following
the great rush of orders and purchases
for over two months is still increased in
many branches by unSeaSOnably mild
weather and yet the mills are obliged
to refuse many orders because unable
TO finish previous engagements soon
enough.
It is in every way fortunate for the
industries and the would be buyers
since speculation would otherwise ad-
vance prices so as to make reaction i'm
probable. More works have joined the
active list, including some long idle
and the production in iron manufacture
is the greatest ever known. The out
put of pig again exceeds the demand
which is not diminished near the close
of the year and prices yield lightly, but
the consumption is kept at the maxi
mum by pressure of orders, which the
works are not able to fill fast enough.
The Illinois Steel company, shipping s.
900 tons of finished products per day, is
behind Eastern and western orders
accumulate for railway materials, for
cars and bars, for ship plates and
structural forms.
Cotton manufacture is doubly hin
dered by the decline in cotton and by
accumulation of goods, with slow dis
tribution, so that print cloths have
fallen to 2.31 cents, a new record and
staple goods are sold at concessions, all
averaging not per cent above the low
est point. In wooden goods the advance
has been arrested by doubts about the
future market for goods and cost of
wool, which has advanced slightly in
October though heavy sales to take
profits are reported, few at Boston
covering five million pounds this week.
The mills have all they can do for some
time and the opening of the next sea-
son may be deferred until the future
can be more accurately judged. Cold
weather is greatly needed to hasten
distribution of textile goods and to pro-
vide indications for the future demand.
Another rise in wheat lifted the price
above 81 but profit taking speedily
caused reaction, and the price closed
two and half cents lower for the
week Receipts were about a million
bushels larger than last year and At
lantic exports, flour included, were g.
286, SAG bushels against 1,S62,533 last
year.
Exports in October as in September,
were heavier than in any preceding
month and after gloomy reports of the
condition or winter wheat, extensive
rains have caused material improve
ment. Corn has grown stronger in spite
of the course of wheat.
Cotton has not lifted above cents,
and the accumulation and declining
prices with the somewhat increased
prospect of extensive StOppage of
English mills, causes less speculation
than usual.
Failures for the week have been 276
in the United States against 23O last
year and 80 in Canada against 81 last
BRADSTREETS.
Bradstreet's says: Killing frosts
south, the raising of quarantine en-
bargoes in nearly all states invaded by
yellow fever, the resumption of traffic
and prospective revival in demand for
sample merchandise constitute the
trade features of the week.
Rains in central western and west
ern states, followed by colder weather,
have favored farmers and stimulated
demand from interior store keepers.
This had made a favorable effect at
Louisville, St. Louis and Kansas City.
JobberS in northwestern states are
awaiting seasonable weather to stimu-
late the heavy dry goods and winter
clothing. Features at larger Pacific
coast cities are confined to sales of
merchandise ana provisions 1Or Ln6
klOndike and the heavy foreign ship
ments of wheat and flour. Larger east
ern cities report no increase in the gen
eral merchandise movement. New Eng
land centers report that orders from
the west exceed those from the south
or east. Leading manufacturing in
dustries continue fairly well employed.
While there has been a moderate reac-
tion in iron and steel furnaces and mills
continue we'll employed, and the out
look for higher quotations next year is
unchanged.
Exports of wheat, -four included as
wheat, from both coasts of the United
States and from Montreal this week,
aggregate 5.575,216 bushels, compared
with 5,911. .391 bushels last week, 3,472,-
900 bushels one year ago, 2,566, 600 bush
els two years ago. ,6S9. 900 bushels three
years ago and as contrasted with g.
5000 bushels in the corresponding
week of 1893 Exports of Indian corn
this week amount to 2,199 $50 bushels,
compared with 1859, 600 bushels last
week, 2,297,000 bushels in the cores
ponding week one year ago, 1.225, 600
bushels two years ago, 757, 900 bushels
three years ago, and as contrasted with
$4,000 bushels in the first week of No
vember, 1898.
At the beginning of the week an idea
prevailed in Wall Street that a more
active and better market would deVel-
op after the election. On last Monday
there was some purchasing of stocks
by the bear traders, though it seemed
that professionals the long side
evened up on contracts. The market on
Wednesday was weak and depressed on
the results in some of the states, which
it is argued indicates a revival of free
silver sentiment.
On Friday the market had a sharp
decline. caused by unfavOrabIe adVices
from Madrid about the Spanish gov
ernment's attitude toward the United
States in relation to Cuba and the res
olution OF the chamber of commerce