The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1898-02-12
CUBA is A BRAKE.
On the Speculative Tendency of
the Markets
Says r. G.. Dun & Co. in Re-
viewing the Trade.
LARGE GAINS SHOWN
In Every Line of Business in
Spite Of War Scare.
Steady Advance of Prices All
Along the Line.

New York, Feb. 12.-R. G.. Dun & Cos
Weekly Review of Trade says in its issue
of today:
Business is pushing toward spring activ-
1ty rather early. Events which have con-
trolled are good buying of iron by the
largest makers. the rise in cotton with
strength in goods, the great railway con-
solidation and the Cuban Instruction.
as a brake on speculation, and foolish
ness OF local traders gave foreigners a
on balance, about As, 900 shares. January
earnings, SIS. OIL, Az already reported, are
per cent better than in 1892, showing the
best month in six years at least, and Feb
ruary returns thus far are promising.
The output of pig iron February l was
229,S23 tons weekly, the largest in the
history of the business, but the reported
buying of 10000 tons bessemer iron BY
the Carnegie company and another lUO.OUO
~ announcer OF the IaIsesl steer M
nevertheless, means DECISION by the aDlest
manufacturers that the unprecedented
output OF pig viii soon prove 700 snlsH
Tor the growing demand Tor nnlsneu pro-
ducts The Illinois Steel company mas
contracted for million tons bessemer
ore, and producers OF other ranges count
upon an advance in price. Bessemer. pig
rose to $1015 and grey forge to 81 at
E1ttSburg, with nnlshed proQucts gener-
ally stronger and in larger demand than
ever at this season. Rail contracts al
ready cover, II IS sSilo, more llah ItsI
years production, the railways buying
earlier than usual. Bar contracts for
cars, wagons. agricultural implements and
other manufactures are very large at the
west; structural contracts are very nu-
nerOus at the east. with $1,000 tons esu-
mated for New York buildings alone this
year, while plate and sheet contracts for
the season are unprecedented
January was one of the biggest months
in COnnellysville coke output, 623,9I5 tons,
and furnace continued a the same price.
Tin rose to IA cents, in spite of heavy
shipments. and copper to II cents or bet
ter for lake. in spite of enormous Ameri-
The rise in cotton, SIG of a cent for the
week, results in part from better pros
COTS for elr7T1f af hnT a
but only in part The actual movement
shows no change of consequence, but
prices of goods have a stronger tone. With
the better tone prevailing, this manutac-
ture should soon feel the heavy demand
which other industries are meeting
Wool sales at the chief cities We're only
5,3O3. 200 pounds for the week and II, 664, 500
Prices are still strong in spite of the gen
eral Indifference of manufacturers, who
For the better grades OF WOODEN SOOdS5 an
advance averaging 1G5 per cent frOm last
year is readily maintained. The opening
of works idle for a year, in spite OF the
heavy production already assured, is as
striking feature in this as in the iron
and other industries and implies heavier
demands for products than are now met
by the unprecedented output.
Wheat has been strong. with spot ad-
vancing cents and May % cents. though
western receipts have been for two weeks
last year, but Atlantic exports have been
5.274,43 bushels, flour included, against A.
026,596 bushels in two weeks last year.
with Pacific expectations large
Corn exports are also surprisingly Wen
sustained. 1854, 1852 bushels, against, z, S23, :
$50 bushels last year, and the price has ad-
vanced a trifie- It is yet too early for
prospects of a coming crop to influence
markets materially, and heavy operations
at Chicago, with reported sales Of mil
lion bushels for export on Thursday, have
deferred speculative selling
Business shown by bank clear1ngs is
again larger than ever before, 54.7 per cent
larger than last year for the week, and for
the month to date 44.3 per cent larger than
last year and 16 per cent larger than in
1892
Failures for the week have been 290 in
the United States, against 261 last year,
and 43 in Canada against 81 last year