The Topeka state journal., 1897-10-09
BUSINESS GROWS
r. g. Dun & Co. Report Pay
ments Through Banks
For September, the Largest
Ever known in One Month.
FAILURES WERE LESS
For the Quarter Just Closed
Than Amy Since 1892.
Foundation is Laid For Still
Better Showing in Future.

I -NCF A0AE&s OCl ST. NT Dun 10 >
weekly review of trade says in it's issue
! today:
While failures were the smallest ever
known in any quarter since 1892, and bust
ness payments through banks the largest
by $26S, 10000 ever known in September,
the spectators who profess anxiety about
Cuba, or fever at the south, or munich
pal election, still have some influence.
Helping them just now is the fact that
after extraordinary purchases for repIen-
ishment of stocks from any section or
town there must necessarily be for a
time less buying from that quarter.
Yet business is still increasing. The
productive force steadily enlarges, the dis
tribution of wages affords an increasing
fund for purchases, and the foundations
are laid for a larger business hereafter.
The weeks exchanges are SIS per cent
larger than in 1892.
Crop reporters who have widely differed
now agree in putting the yield of wheat
about 850.000,0G0 to go. 100000 bushels, which
is nearly 900 bushels more than will
be required for home use, keeping stocks
as they were July 1, the lowest for seven
years As foreign reports indicate a
larger demand and exports have been
nearly as heavy as in the best past year.
with 2,9S5,784 bushels from Atlantic ports,
2,240,51 bushels last year, the recovery of
1l2 cents in price for the week is not
without reason. Western receipts continue
to exceed last years. 8.OO1. .211 bushels,
against 7,243, ,969 bushels for last week.
With less favorable reports of yield,
corn exports fail short slightly, with
small difference in price.
Cotton is unchanged in price with larger
consumed demand.
Though big eroO estimates do NOT an
pear to be disputed, large increase in
the production of pig iron and heavy re-
alizing sales of lots held on speculation
have caused a decline of 15 cents to s1060
for Bessemer at Pittsburg, though grey
forge there has advanced 25 cents and
pig iron is stronger at Chicago and east
ern markets.
But finished products grow stronger,
with a demand outrunning the capacity
of works in operation in many branches,
so that delays in delivery in sheets and
tin plate bars are embarrassing, and in
some other branches orders cannot be
filed within one or two months. The
building of more vessels ON the lakes and
seacoast and heavy orders for sheets, bars.
rods and pipe, have caused advances av-
eraging half of one per cent for the
week on all classes, but the general gain
is yet not quite 10 per cent from the lows
est point. Reports of a combina ton in
steel rails are denied, and it is said that
only three large producers will agree on
prices, while the rod and wire compact
appears to be still in the future.
Wool has now reached an average OF
81 cents per pound for 100 quotations
of domestic by Coates Brothers of Phila-
delphia, showing a rise of cents since
a year ago, with a much heavier rise on
some qualities, but following an average
decline of Il cents since March, 1898.
Speculative sales will account for most
of the aggregate, which has been 14.33 900
pounds for the week, of which 1856, ,S95 are
domestic, but manufacturers are pur-
chasing some wool for mixtures with the
cheaper wool held for some months past.
The rise has so greatly exceeded the ad-
vance in prices of wooden goods that the
mills might have to pause but for the
very large stocks purchased in advance.
Goods are strong, with a further advance
in some grades, but in the aggregate thus
far not 20 per cent from the lowest point
against 90 per cent advance in the aver
age price of wool.
Dealings in cotton goods are delayed by
weakness in raw cotton but neither print
cloths nor other goods have declined since
last week, and though the mills are not
quite fully employed, a continued increase
in consumption is with reason expected.
Failures for the week were 212 in the
United States against 296 last year, and
% in Canada, against 46 last year.
BRADSTREET'S