The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1897-05-01
DEPRESSION
In the Grain Market Follows
the RumOrS
Of a Speedy Termination of the
European War.
IMPORTS ENORMOUS.
They Exceed Those Of the Same
Week Last Year
so Per Cent and for Four
Weeks 80 Per Cent.

New York, May 1.-R. G. Dun & COS
weekly review of trade says today: IN
spite of moderate Improvement in most
industries, business is Disappointing EX-
pectations of a speedy end of the war III
Europe through Turkish victory have
helped to depress grain. Demands of Aus
tria and China. have caused exports OF
81. SOC, 600 gold, merchandise imports are
greatly increased and final action OF COLI
g-ess on the revenue question seems more
remote. q. ..,,+
cause European markets did not sustain
the expectation OF great forelgn de1nano
after the outbreak OF war, ana pecauSe
events appeared to foreshadow speedy
peace, but the tidings from the growing
states, the receipts from farms ana 6he
enormous exports of corn all had 1nfu-
Corn exports have been 13. 25O197 bushels
in four weeks. while Atlantic exports or
wheat have been only 4,231. 348 bushels
sI7rnrisine, for in use two bushels of flour
equal 1 bushel of wheat One buShei OF wheat
costs nearly soc. Western receipts have
been reduced, perhaps in part by floods
and interruption of traffic. The common
market has advanced nc, owing mainly
to a speculative impulse from England
The exports of gold would not nave
much influence if there were MOI 4-li t e1-
ports and some decrease in exports from
New York large for the last % baYe a in1
creased about so per cent over last year
for the week and for the four weeks nave
=
ports of wool have been extraordinary .
and at PHILADELPHIA they have amounted
for the month to $1,17S,000. The thought
that this abnormal increase may continue
as long as action on the tariff bill IS De
ferred tends to affect exchange but the
main influence at present IS the eXcepN
tfonal demand for reconstruction OF the
Austrian monetary system and Tor ia
OF the great industries, the iron and
steel manufacture is slow in advancing
! now as it was much the quicker IN the
winter Partly because the increase =
| production OF pig was then TOO rape,
! partly because enormous contracts taken
| when the different pools broke down Went
mainly to the larger concerns, and per-
haps even more because there IS grea lef
! hesitation now in pl2-cing orders Re-
| Dcrts of pending negotiations between lh-
| illinois steel and iron companies point 10
| an important change as possible FFlces
! of Mesaba ore have not yet been IS a O.
! lished though ore better than Fayal mas
| sold 1T 81. % to S2.45 and pig IS better
I Bessemer at So. so. with enc sale OF 2O0l
| tons for So. % at Pittsburg aud grey forge
! at IS SO Nails are about sc per keg lover
| and tin sc per box and quotations are fire.
| ouantlV shaded 10 other business
| The mills are rather better employed in
| cotton and the denSnd Is apparently "a
! creasing though not enough in wool tc
| induce manufacturers 70 purchase Bui
imports have been enormous, If current
| reports are not in error, more than 10y 5J6-
O00 pounds in April alone, Phuadelpnla
having received over eight million pounds
! in four weeks. New York over a rnllllOn
| and Boston apparently over 90 million
| pounds Sales for the past four months
| have been $50, 302. $50 pounds. including "
! 943 300 domestic and for the whole year
351, S92, S81. including 2l3 352 OBJ domestic
| but in 1929 sales were 3O8. GAG S55 pounds
| the United States against 23S last yeaI
! and 40 in Canada against 81 last year