The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1897-08-28
CAN'T STOP IT.
Dun & Co. Say Speculation Has No
Effect on the Steady Advance
of Business

New York, Aug. 2S.-R G. Dun & CO.
in their weekly review of trade say:
Speculative markets have their turns
of reaction. but business has none this
season, gaining with a SteadineSS
which is most gratifying. The start
ing of works, increase in hands en-
ployed, advance in wages and in prices
of products, and the heavy movement
of crops, are facts before which all
speculative influences have to bow.The
weeks dispatches mention 16 iron
works which have started, against one
closing; Is wooden works starting, and
so in many other branches, while many
more works have increased force and
many are preparing to resume, and
some have increased wages. While
these things continue-with grain ris-
ing and going abroad in enormous
quantities-money markets have rea-
son for Astounding confidence and spec
ulative markets for strength.
Crop prospects are contradictory as
usual at this time, but it is noteworthy
that none of them indicates anything
less than an ample supply of the great
est staples.
Wheat rose over 6 cents Saturday,
with exaggerated reports of injury, fell
nearly cents, advanced 4 cents, and
then declined sharply, closing l cent
lower for the week. Some harm was
done to spring wheat in three states
1T appears, but there are no accounts en-
titled to the belief that the yield will be
below $40 million bushels which will be
25 million larger than any other year
except that of 1891. In spite of great
lack of cars, wheat receipts were 4149,-
559 bushels for the week, and for four
weeks 15,5S9,6 S1 bushels, against A.
S96,947 last year, and at Atlantic ports,
exports (hour included, though some
what checked by higher prices) were g.
56S,SoO for the week, against 2,207, SIG
last year, and for four weeks IL. 387, 6S7
bushels, against 1910, III last year.
Exports of corn bear strong testimo-
ny to the seriousness of foreign needs,
being 6S40,144 bushels for the week
against 2, S13, 919 last year, and Atlantic
exports in four weeks have been TO-
466,44S bushels, against 5,1S5, All, ITO last
year. The price rose 11sc for the week
sympathy with other markets rath-
er than reports of injury which capa-
bic authorities deem not important, ac-
counts for three-siXteenths in cotton
But the mills are resuming work with
rush and will require heavy supplies
of material to meet the large demand
for goods, which has advanced the
prices of many. a general replenisF-
ment of stocks by dealers will call for
heavy additional supplies. The wool
market also reflects in greater strength
and further advance in some grades
the heavy buying of woolens has set
many mills to work night and day and
caused makers of many grades to with
draw them entirely from the market.
But While the mills have done Some-
what more, most of them hold large
stocks and the trading has been gen
orally speculative between dealers. AT
last, demand has so far overtaken the
capacity of the iron works, that prices
are growing stronger.
Hides are again stronger at Chicago
though packers no longer lead, but
country hides are called scarce, al
though cattle receipts at the four chief
markets, Isl, 400 head, are the iar~est
for the corresponding week since 1892
Failures for the week have been e23
in the United States against 2SS last
year. and "a in Canada against SO last
year.