The Topeka state journal., 1897-07-17
NOT A CLOUD.
Except the Miners Strike
There Is No Feature
Of the Business Situation That
Is Not Encouraging.
so SAY r.. G. DUN & co.
There Is More Activity, Espe-
cially in Building,
Than Has Been Seen at Any
Time Since 1892.

weekly review of trade says:
Excepting the great coal miners
strike, which. may terminate at any
time. there is scarcely a feature of the
business outlook which is not encourag-
ing, the season considered.
Crop prospects have been improved
by needed rains in some regions, and
foreign advices continue to promise a
large demand
In many home industries, particularly
in building, there is more activity than
in any year since 1892, and the week has
brought a better demand in boots and
shoes and in woolens, while the move
ment of freight, mainly iron ore, through
the Saulte Ste Marie canal,i is the largest
in its history.
With money markets unclouded there
is nothing in sight to hinder rapid i'm
provement when uncertainty about leg
isiation has been removed, for the min
erS strike could not last long if buSi-
ness and industries should become act
i've. There is much less apprehension
of a failure of fuel supply than there
was during the first few days when
prices rapidly advanced, and large
quantities of coal from West Virginia
have reached northern markets, but
some of the miners in that state have
struck.
The advance in wheat to S11sc was
not due to the government estimate,
which was followed by decline, but to
foreign advices and considerable buy
ing for export. Demand is absolutely
felt from Australia, South Africa, Bra
zil and even Argentina, while the prom
ise for European crops is not considered
bright. The disposition of farmers to
keep back wheat for higher prices may
affect the outward movement but At
lantic exports during July, flour inc1ud-
ed, have been BIS, 443 bushels against
2,953, ,817 last year, although in the same
weeks 4,659,315 bushels of corn went
out against 1,574,072 last year. Wheat
closed cents higher for the week and
h IL
the closing, or partial stoppage, of inn
portant New England mills hardly neu-
tralizing in market estimation the ap-
prehensions of injury from drouth.
Speculation in the wool market con-
tinues with prices at all points stronger;
at Boston advancing with signs of a
boom among dealers, in which manu-
facturers are taking little part at cur
rent prices, and at the west where hold
ers are looking for a great advance.
The output of iron furnaces July 1st
was 164,064 tons weekly against 16S,3sO
June 1St, but several furnaces have
gone into blast since July 1st and the
put is large for the season. Presum-
ably an unprecedented share of~it is to
supply the great steel companies Which
are even now putting more furnaces In
to blast and have heavy orders taken
when prices were dropped, while the de-
mand for structural shapes and plates
is large, and for bars improving though
steel bars are now at the lowest quo
tation ever known in Pittsburg-8f12 IL to
80 cents, with BeSSemer pig Quoleu
slightly lower.
Tin plates are also lower at 80 for
full weight, and less than So is paid for
100 pound boxes.
Failures for the week have been 263
in the United States against 269 last
year and 81 in Canada against ~ last
BRADSTREETS
Bradstreet's says:
The dullest month in the industrial
year is duller than usuel, notwithstand-
ing Improvement among potterS ana
others This is due to restriction in
iron and steel, prices of which are back
to the lowest point on record, dragging
demand for clothing and shoes and the
fla mine of bituminouS coal.
There are more miners out than at
this time last week, and notwithstand-
ing assertions that arbitration will pro-
baby end the strike soon, some operat-
ors in the Pittsburg district declare that
there is nothing to arbitrate.
Manufacturers of cotton goods ana
their agents report trade slow, owing
to the cost of cotton and low prices for
goods This has shut down number
Of cotton mills in ssachusetts and
Rhode Island. A fairly steady business
is reported by eastern manufacturers
of shoes, but this trade at PhlIadelphla
is dull merchants hesitating to place
orders
report distribution unsa tisfactory.
Bar iron mills are already smut down
and If the coal strike lasts another week
thousands of factory wheels will stop
turning. This checks the stronger ana
more confident feeling in industrial cir
cles which was so pronounced fort
night ago.
The heavy loss of sheep in Australia;
due to drought, and speculation in wool
on tariff prospects, have made wool
nriees higher with larger sales-about
a million pounds at Boston alone, com
nsred with 100000 pounds in the like
week last year.
The worlds available supply OF Wheat
is probably the smallest at a like per-
iod in many years. Europe is expected
to have to import 100, 100000 more BUSH
Gle than last year and neither India, ,Au-
straJia nor Argentine is expected TO De
able to supply its usual share
The general tendency of the pf1ce
movement this week is to reverse the
arowinzr strength of quotations. in the
preceding fortnight
Old People.