The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1897-03-27
POWER OF
CAPITAL
Say r.. G. Dun s. Co. Could
Stop Serious Rate Cutting
In Consequence of the Supreme
Court Decision
IF 1T CHOSE TO Do so.
Prices Have Held Up Well
Throughout the List
In Spite of Many Depressing In
fluenceS at Work.
IFIT CHOSE TO Do so.

New York, March Pr G. Dun &
Co.'S weekly review of trade says to-
day:
Rarely have markets sustained such
surprises as hey have received of late
with so little loss. Foreign conditions
and London alarms, the collapse of
the iron ore combination the destruc-
tive floods in the Mississippi valley and
the decision of he supreme court
against railway associations have been
used to the utmost, but not even in
railroads has the result been important.
Were all associations of railroads to
cease, it would yet be in the power of
capital controlling important lines to
stop serious rate cutting if it chose.
With confidence that better times and
larger business are coming, men are less
disposed every day to- throw away good
investments, and the very fact that
prices OF products are low is regarded
as guarantee against much further
decline
In all industrials, also the number of
mills and shops and hands at work,
gradually increase.
The grain markets have lost without
reason the gain they made without rea-
son the previous week. Wheat supplies
are running out, but nobody believes
that there is coming a famine before
June, when the harvesting of southern
wheat will begin.
Western receipts were over a third
smaller than last year and for four
against II ,SS4,2oS last year, but the bet
ter prospects for the crop of winter
wheat has more weight.
Atlantic exports, flour included, were
nearly as large for the week as last
year and for the four weeks have been
$685. 28 bushels against 5,506, 220 last
year.
But corn exports have been II, 763, $40
bushels against 4,577 500 last year When
Europe buys in corn, the equivalent of
600 bushels of wheat at less than go
cents, the price of wheat is not easily
advanced above so cents.
Cotton was put upward 7sc by the
flood, but lost half the gain, although
manufacturing is more hopeful. With
out change in prices goods were in bet
ter demand and sales of 500, 900 pieces re
suited in a stronger tone. Financial dis
solution of the Lake iron pool has been
expected ever since the Carnegie Rock
efeller deal and insures low prices for
ore the coming year, though perhaps
not lower than in 1895.
Mesaba facilities for production have
vastly increased and all the great steel
making concerns have secured mines of
their own, while means of tranSporta-
ton have greatly enlarged. With as
surance of cheaper ore, hesitation
about various products should diminish
and the demand is steadily increasing;
bars are still demoraliZed and at the
lowest point, but for plates, sheets, wire
rods and wire and all nails, the demand
is growing larger
The demand for rails continues to
strengthen prices, although some spec
ulatiVe purchases are offered below the
present prices of mills. Tin is a shade
lower with larger arrivals though the
distribution has been considerable, and
lead is decidedly stronger at BAT cents,
but copper is weak at 11.15 cents. In
creaseS in coke productions appear, and
more is assured by he purchase of
works by t he Cambria company, and
while quotations are unchanged, out
siders are offering furnace at $1.70 per
ton.
Speculation in wool has recorded
larger sales for four weeks than ever
before, DC, sos, 300 pounds against q, 9S4,
S57 in the same week of 1892. Much
more than half is for speculation, as
nothing like the full capacity of mills
is employed. The wool market is stead
lily increasing, but cautiously, as it is
too early to anticipate results from
changes which may be made in duties.
Failures for the week have been 291 in
the United States against 295 last year,
and so in Canada against 80 last year.
BRADSTREETS S.
While the week is not without favora-
have been more numerous. Leading
money markets show no improvement.
Mercantile collections continue slow as
heretofore, and the volume of funds Of
fered is in excess of demands for dis
counts.
The tendency of investments to- i'm
prove has temporarily disappeared I'M
der the influence of the supreme court
antitrust decision which, apparently
threatens arrangements for the main
tenance of railway rates as we'll as
railway trades union activity, so far
as it may affect interstate commerce.
The tendency of prices is downward,
quotations being lower for wheat. In
dian corn, oats, coffee, cotton and for
pig iron and steel billets. The outlook
for lower prices of staples for which
prices are higher, includes wool, raw
sugar. wheat flour, petroleum, 1nseed
oil and turpentine.
,Inc. Of Of f1xv
vately cut quotations are due to- disap-