The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1898-10-29
REACTION IN PRICE
After the War Scare Does Not Affect
Volume of Business.


New York, Oct. 2s.-Bradstreet' says:
1rregularity in prices and trade move
ments has been rather more marked
this week than for some time past, but
measured by all the usual standards of
business development, the situation is
one Of exceptional activity and even
strength. The active foreign demand at
advancing prices for American cereals
and their products appeared to have
eliminated early in the week in a vir-
tual war scare market, in which the
highest prices reached since early in
August were recorded. The reaction
shown, however, has been a small one,
IeStlIylng TO nervousness both at nome
and abroad, growing out of the excep-
tIonalIy small gains in worlds supplies,
reports of damage to wheat in the fields
tive milling demand for wheat at home,
Minneapolis breaking all records of flour
production for the week and a contin-
uance of the talk of rather less than
anticipated out-turns of crops abroad,
noted for some time past.
Evidences Of reaction in prices are
not confined to wheat but extend to lard
and coffee, among food products, bes-
semer pig iron, lead and cotton, while
most other cereals, pork and beef cop
per and print cloths, have remained
steady and unchanged. In distributive
trade there are reports of bad weather
interfering with regular demand and
collections but of stimulating retail
trade in heavy winter goods, coming
west ana northwest, whence also come
advices of bad roads, Gripping farmers
ability to deliver wheat to market.
Against this, however must be cited
the fact that primary receipts Of wheat
the season are fully equal to those of
last year. A great burst of activity
On nearly all lines has followed the free
ing of the lower Mississippi valley sec
ton from the numerous guarantees
and country buying is reported active,
being partially stimulated by colder
weather in that section. From the Pa
cif1c coast, particularly Puget Sound
and Columbia river points, the advices
are of very active trade, heavy grain
receipts being largely absorbed by mills
working on export orders, and OF in
creaSing trade with our dependencies.
Here at the east the tone Of business
remains rather quiet.
The industrial situation has many
points of interest in it. The cotton
goods trade is closely following the
working Of the plan of restriction adopt
ed by the Fall River cloth mills. Much
is hoped for from the reduction in out
put pledged to occur between now and
February 1. Mills employing $500 oper-
atives shut down this week, but the
non inclusion of mills producing similar
goods in other New England cities and
lack of knowledge of the extent to
which those concerned will seek to eX-
tend the foreign outlet for these goods
are uncertain features in the outlook
for a continuance of present firm quota
lions. The movement of the raw pro-
duct to market, stimulated probably TO
some extent by removals OF quarantine
restrictions, IS now far in advance
400 600 bales at leaSt-Of last year, ana
exDectations of a heavier crop than last
year is a bearish feature more than or
setting reports of killing frostS through
out the south.
speculation lags. Sales of wool are OF
increased volume, but much of this par
ticularly at Boston is reported moved at
rf1F1ea n
loans The manufactured product re-
mains slow of sale at first hands, but
advices of good retail buyers are more
numerous, as a result of cold, Indictment
weather. particularly west and south
The iron and steel situation continues
without much change, though shadlng
of prices of bessen1er pig iron and bill
let's teStifieS to the desire or producers
to maintain activity in the face Of con-
fessedIy quieter tone of business.
In other industries the report is gem
orally of plenty of work but at prices
which tend to confirm the view of those
who claim that profit margins have
been permanently reduced. Instances
of this are found in the reports OF 81, 600
more people employed in New York state
industries now than one year ago, and
in the reports of implement manufactur-
ers that on lot of business where the
per cent is in excess of last years
profit sales have not been proportiOnate-
ly increreaSed.
Wheat, including flour. shipments for
the week aggregate $500, 991 bushels
against Asp, 773 bushels last week, s.,
81, 391 bushels in the corresponding
week of 1897; 1855, 900 bushels in 1896;
2,743,O14 bushels in 1895 and 1884, 172
bushels in 1894. Since July 1 this year,
the exports of wheat aggregate 66,771,-
$50 bushels against SIS, 2S3, 594 bushels
last year. Corn exports for the week
aggregate 2,242, 376 bushels against o.
3S7. 191 bushels last week; 1889 1913 BUSH
els in this week a year ago; 2,649, 425
bushels in 1896; 1,eqo. 561 bushels in 1895,
LAG, 522 bushels in 1894. Since July
this year corn exports aggregate 49,
IT'S, 80 bushels against 48,809, 554 BUSH
els during the same period Of a year
ago.
Business failures for the week number