The Topeka state journal., 1897-03-06
BUYING WOOL.
Spectators Are Preparing to
Take Advantage
Of the New Tariff Which Is
Looked for Soon.
COTTON GOES DOWN.
Because Many of the Big Mills
Have Closed.
Dun Still Sees Improvement in
Business Generally.

New York, March 6.-R. G. Dun says
today:
The slow and gradual Improvement
observed for some time has continued
during the past week and without ma
ter1al check. There is a better demand
Tor most products, on the whole, with
continuance of speculative buying in
wool because of the expected duties
Reports of probable need abroad have
helped speculation in wheat somewhat,
and 1T has risen about cents, though
the price is still lower than two weeks
ago. Corn is a cent stronger, about
the price of two weeks ago.
Receipts of wheat are still small, l.
year. and the Atlantic exports. flour
included, were for the week, LIE, ,412
bushels, against 1,541 ,315 last year, but
the corn exports continue so heavy as
to compensate largely, if not wholly,
for any decrease in wheat, amounting
for the week to 2,279194 bushels. gulf
ports not included, against, /, ola, 800 last
year, reckoning a half bushel of corn
for one bushe1 of wheat. The grain
supply of other countries continues
much larger than a year ago. Cotton
has declined an eighth, and with good
reason, for, although receipts from
plantations fall off, the decrease is not
greater than the decrease in consump-
ton owing to stoppage of mills AS
there is comparatively little cotton
available in the country, the market is
to manipulate.
While many of the mills have stop
ped production of cotton goods for a
time, the recent outlook is on the whole
unchanged and the demand for goods
does not continue, while print cloths
are a shade lower. The mills accumu-
lated stocks far in excess of the de-
mand during most of the dullness and
their enforced restriction at this time
is merely paying a debt. The demand
for wool has diminished, though only a
little, and sales are quite a third more
than the full consumption of all the
mills, if all were at work, but the spec
ulative buying continues, and at three
of the markets has covered 46, PIG, 700
pounds in three weeks, against 2S,677,-
400 in the same weeks of 1892. Western
holders are too stiff for eastern pur-
chasers, and the buying of domestic
woods has slackened. The course of
the market has not favored great. ac-
tivity but there is a better demand
than heretofore.
Failures show but slight increase
over those of 1896 or 1895 and but little
decrease compared with 1894
The feature of special interest is the
conservatism of the trading indicated
by the liabilities of trading futures in
nearly every branch of business, con-
trasted with the slight increase of La
bilities of manufacturing houses. Fail
ures for the week have been 246 in the
United States, against 265 last year,
and SO in Canada against 6S last year.
BRADSTREETS
Bradstreet's says:
The new administration. the certainty
of an extra session of congress within
a fortnight and the promise of a new
tariff at an early day which shall pro-
vide adequate revenue and protection,
have done much to stimulate a better
feeling in trade circles and increase
confidence in the near approach of an
Improvement in business.
Favorable features are found in
higher prices fer wheat. corn, pork, lard
and spirits, as we'll as steel billets.
Steel manufacturers are fairly well
filed with orders, and in some lines
are inclined to advance prices. Recent
low quotations for various forms of
iron and steel have been withdrawn,
notably for wire and structural ma
terial Confidence is expressed in an
early advance of prices for tin and for
shoes and leather, based on the activity
in hides.
Quotations are firm and unchanged
during the week for lumber, wool, print
cloths, resin, petroleum, coffee, steel
rails and Bessemer pig iron, but there
have bene decreases for wheat, flour.
oats, sugar and cotton. General trade
has been interfered with by rain and
high water in the Ohio valley and snow
in the northwestern spring Wheat
states.
There were 262 business failures
throughout the United States this week
COMPARED with 25S last week, 2lO in the
week a year ago, 252 in the week Two
years ago, and smaller totals IN like
weeks in the preceding years. This
marks a return of the ratio of business
failures to the total number in busi-
ness more nearly to the normal.
There are 81 business failures report
ed from the Dominion of Canada this
week, against so last week, Sc In the
week a year ago and SO two years ago.