Kansas City journal. [volume] (Kansas City, Mo.) 1897-1928, 1898-10-22
WEATHER HAS HURT BUSINESS
SITUATION AT THE SOUTH BETTER
THAN FOR SOME WEEKS.
Clearing House Figures Show Heavier
Business Than Last Year, and
Heavier Than IS92-Some
Improvement in Cotton
Situation.


1.-The dominant feature of the general
business situation is unquestionably the
active foreign demand for wheat, wheat
flour and, indeed all our cereal products.
and the business reported on this account
during the past ten days seems worthy OF
rank with the best record in any
corresponding period. While strait7ned
stocks abroad and less satisfactory ad-
vices from other countries. notably Russia.
Australia and Argentina, have furnished
a plausible basis for much of the recent
activity, an additional stimulating feature
was injected into the situation this week
by the more warlike appearance of the
Franco-British situation, and the closing
days indeed witnessed war rumors in prac-
teal command of the market, inducing
much short covering by steadfast bears
Lest the rather moderate figures OF cur
rent export should prove disappointing, In
view of the heavy engagements reported
it might be remarked that much Oh thls
demand is necessarily what might be term
ed forward business and. indeed. STOCKS
in this country, in spite of heavy current
delivery by farmers, could hardly allow oil
prompt shipment even if the ocean frelght
situation was not strained one. quota
tions for freight room have. in fact, operat-
ed as a deterrent feature on this export
business.
General dfstributive trade particularly
at the North, appears to have suHereu
from bad weather conditions this week,
which have interfered with regular Dusl-
ness and deliveries; but, on the other hand'
has induced considerable buying OF ooots
and shoes, rubber goods and heavy cloth
ing at many markets. The situation at the
South is rather more favorable than Ior
some time past, this resulting NANNY IFou
the abrogatlon of many senseiesS quardi.
M
of the frost line southward toward lne
Gulf. Some important changes IN tne ST.
uation of textile goods and partiihuidiIly ha III,
cotton and wool products appear 10 pe M lii-
pending Rather more tirmnesS mas oeen
Impaired to the former staple py the taih an
of frost checking further gr9W,thh oi 'if af
Fan River of the long-eNperiencea anu fa,.
often threatened joint. selling agency Lor
print cloths and similar sOouss sUosrcts ns uIiite
materially. In wool and wooien goods, 100,
signs of improvement are fihe tiiofe
The foreign trade situation is about as
described last week, except that iarSe ne
creases in a few leading exports nave oeeis
partly made up by Increased shipments "
American manufactures, and tne Hd,,e Id,r
months figures point to complete Galsn-
dar years business in advance OF an pre- pre-
decesors in volume of export traae; OuF
import trade begins to snow slgnt IN
creases over the corresponding perloas a
wear ago and the substitution oil uuuaoIe
points to an easier position in the customs
situation. Prices are quite strong, hoia Die
in this respect being, all the cereals, ,iaaG'
nork. cotton, print cloths and raw sugar;
Little change is noted in the iron and Steel
market, which, as for some time pasi, con-
tinues quiet as regards new new ous'nesSi rs s,;Si
actively employed. The general industrial
situation continues favorable, empioyneht
being quite general parqe9dIariy idM,r IN bere ere
a shutdown cending a wage scale Settle
R. G. Dun & Co.'S Weekly Review OF
Trq 7e will say tomorrow:
with growing foreign demand for Amer
ican products, exchange is influenced main
ly by political uncertainties already. Whlle
Europe awaits the outcome between En-
gland and France about the Upper Nile.
the financiers of al European countries are
trying to force Upon each other the burden
mands of the United States. England has
so managed as to make France and Ger
many send most Of the gold: and the re-
nations checks for the moment the move
ment of gold this way. Yet these and all
other causes do not SO far hinder busi-
ness as to prevent an excess over the most
prosperous of previous years. The ex-
changes through all clearing houses for the
last year. and II per gent larger than
In 1892, hut outside New York for the week
transactions were smaller than in 1892.
THE outgo of wheat staggerS all propnets
of disasters, but while the price has ad-
vanced cents at the West, the rise would
have been much greater but for the feeling
that the enormous foreign demand may
not last. Exports, -four included. have
been, for the past week. 3S69,536 bushels
at Atlantic ports. aainst 3.576.607 last year,
and 923.27s bushels from Pacific ports,
three weeks 1l9S4,53S bushels, against H.
227 $50 last year. Without doubt many
Western farmers are still holding back their
wheat, and yet the receipts at the chief
in lie
90 592 i9i bushels. against %. .125.S0l last year
1t Is significant that this heavy demand
continues after foreign crops, officially re-
ported as fairly large, have been almost
everywhere harvested. The corn exports
continue large, 2,634.i4l bushels. against $751;
317 last year, and 700I.009 bushels for three
weeks against 3.9147a last year, and al
though It is the bottom point of the year
for corn. prices have risen nearly Il, cents
during the week.
while cotton spinners are said to have
agreed upon selling agency and a cur
taIment of production, there is a better
demand for staple goods and prospect of a
better demand in future. In wooden goods,
also. there has been a marked improve
ment during the past week. and better
sales, with extensive inquiry. This is re-
fected in the large transactions in the
wooden market, sales having amounted, for
the past week. to 1855 400 pounds of which
2714 400 were domestic, making for the pa II
three weeks l0.S3610 pounds. against 81 :
162 80 for the same week last year 20 765 500
!
| 10 4s1 $50 pounds for the same weeks in lS92
Sales in Boston have been the largest for
nearly two months. but some concessions
in price which are not reported in published
quotations With no orders as yet for the
next season. the manufacturers are alto
gether encouraged by the increase and
have reason TO believe that the expected
demand has set in. But there is yet the
fact that the current demand is largely
for low priced goods.
There is much hesitation in the iron
and steel trade, partly because the out
come OF the various combinations in Besse-
mer pig. steel rails. bars, wire rails and
the like cannot vet be definitely anticipated.
IF general buying was expected to result
from these movements. il has not an
peared thus far. Yet prices of domestic
products have not declined, and although
| the tone is somewhat weaker for bars and
plates. quotations are in part sustained
| by considerable orders for exports. The
plate mills have received orders for 90 600
| tons from the government for ship pur-
poses. and the bar and billet mills have a
very encoura ging demad.
Failures fer the week have been 22l
| in the United States. against 224 last wear,
| and "a in Canada, against Sc last year.
OTHERS TOOK THE PLAGUE.