Kansas City journal. [volume] (Kansas City, Mo.) 1897-1928, 1898-02-12
HAS OPENED RATHER EARLIER
THAN USUAL THIS YEAR.
BUSINESS CONTINUES GOOD.
BANK CLEARINGs SHOW AN ExOR-
NOUS VOLUME Of TRADE.
Greater by 6.3 Per Cent This Week
Than In the Corresponding Week
In 1S92-BiG Demand for
Iron PrOducts-Rise
in Cotton.

row will say: "a number of favorable cir
cumstances and events present themselves
this week Perhaps the most notable of these
are the renewed activity and confidence
in the iron and steel market, accompanied
by prompt and even rapid advances in
several grades Of crude pig iron and STEEL
and the advance in the price Of raw cot
ton, long predicted but unrealized until the
present week. What might be regarded as
a minor feature in the business situation.
though at the same time conveying much
that Is hopeful to the interest involved,
is quite general improvement in dis
tributive trade and demand in the Central
West and in the South, where spring trade
is reported opening in good shape.
Less favorable features of the week are
the slowness of spring trade in dry goods
to develop at New York and other Eastern
centers, except Boston, and the mild
weather in the Northwest, rendering il like
ly that retailers stocks carried over will
be larger than earlier expected.
Although the advance in cotton has been
claimed to be too rapid, 1t has undoubtedly
impaired a much more cheerful tone to
the Southern business situation, and with
the advance in iron and steel, has done
much to add to the confidence with which
the trade outlook for 1898 is regarded.
business failures continue to make fav-
orable comparisons with previous weeks
being Zls, against 2s5 last week. 3M in the
corresponding week Of 1887, 3s1 in this week
OF 1886. 80 In 1885 and 23s in 1894.
Bank cleaTings continue to point to an
immense business doing in the country at
large. the total aggregating for the week
81 ,44. 100000, less than per cent smaller
than last week, So per cent larger than in
the corresponding week last year. 5s per
cent larger than this week in 1896. "A per
cent larger than in 1895. 81 per cent larger
than in 1854. and 6.3 per cent larger than
this week In 1892"
New York. Feb. n.-R. G. DUN & Co.'S
Weekly Review of Trade will say in its
issue Of tomorrow:
Business is pushing toward spring activ-
trolled are good buying Of iron by the larg-
est makers, the rise in cotton, with strength
In goods. the great railway consolidation.
and the Cuban insurrection. The latter.
with its possibilities, operates as brake on
speculation, and foolishness of local trad
ers gave foreigners q much desired oppor-
tun1ty to buy stocks, on balance. about 45.
GO shares. January earnings, 3s.017. Al. al
ready reported, are 16-6 per cent better than
last year, and 9.5 better than in 1892. show
ing, the best month in six years at least.
and February returns thus far are promis-
ing. The output Of pig iron February 1
history Of the business. but the reported
buying of 10000 tons Bessemer iron by the
Carnegie company and 100000 by another of
means decision by the ablest manufactur-
ers that the unprecedented output Of pig
iron will soon prove too small for the grow
nois Steel Company has contracted for l.
UO-OOO tons Bessemer ore and producers of
other ranges count upon an advance in
said. more than last years production, the
railways buying earlier than usual. Bar
contracts for cars, wagons. agricultural i'm
heavy at the West: structural contracts
there are very numerous, and at the East
yUh plof
and sheet contracts for the season are un-
The rise in cotton, ,5-1s cents for the week.
results in part from better prospects for
manufacture here and abroad. but only in
part. Spectators became persuaded that
prove effective, and heavy short interest
covered. The actual movement shows no
Of but prices Of goods
are better. With the better tone prevailing
this manufacture should soon feel the
heavy demand which other Industries are
Wool sales at the chief cities were only
s.Sea, zoo pounds for the week. and II $4,000
Prices are still strong. In spite Of the gen.
eral indifference Of manufacturers. who
ss have 9s ah a%ps na
sear % is adis readily maintained a1 The % opening as
1f e IN sPf Of
striking feature in this as in the iron and
other industries. and implies heavier de-
mands for products than are now met by
the unprecedented output.
Wheat has been strong, with spot ad-
vancing cents. and May. &c. though
5,sSs, us bushels. against 3.s17, ,ss5 last year.
but Atlantic exports have been 5,24. .43s
bushels. flour included. against 4.026.596 In
large. Corn exports are also surprisingly
we'll sustained. 7164.7s2. against 7s23. .s65 last
year, and the price has advanced trife.
r. is vet too early for prospects of a COM
ing crop to influence markets materially.
and heavy operations at Chicago: with re-
on Thursday. have deferred speculative
sellinPn