The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1898-10-15
SMALLER PROFITS
Are Being Realized in All Branches
of Business, Than Formerly.


New York. Oct 15.-R. G. Dun & Co.'S
weekly review of trade says:
With actual payments through clear
ing houses 10 per cent larger than the
same week Of 1892, it can not be said
that business is in any sense falling off,
and yet many are complaining because
the amount realized as profit is small
er than was formerly realized in good
times. In almost every branch of bust
ness trade is now transacted on mar
rover margin Of profit than in any 9TH
er time of fair prosperity. There is
great change and perhaps a permanent
one. IN the percentage of profits deriVa-
bic from trade and manufa cture as well
as in the profits obtainable by trans
porters.
Progressive civilization calls fora low
er range of profits and of prices as the
volume of business transacted increases
in order to make possible Improvement
in the condition of the working mil
lions.
Wheat business is more active with
prices about ? cents higher for spot and
nearly cents for December options.
Very heavy purchases have been made
within the past few days not as yet re-
hected in the official record of ship
nents but the exports from both coasts,
flour included, have been 4, 1O1, 40 BUSH
els against Assoc for the same week
last year. It is especially interesting
that in spite of the general disposition
of farmers to hold back their wheat
the western receipts nave DEGu lot the
week much larger than last year and
for two weeks 20, 790, 495 bushels against
$685. 554 last year. While little atten-
ton is now paid to the official reports
they seem to fOreshadOw a larger re-
turn for the crop than has been made
in any previous year.
The price of corn has advanced about
2 cents though the receipts are just now
larger than a year ago.
The price of spot cotton is a sixteenth
lower than week ago and the January
option has also lost few points while
there IS q weaker market for goods.
This is partly due to the official admis-
sion that the prices of print cloths now
a sixteenth below 2 cents. can not be
sustained without a selling agency
which is now proposed. Although the
production at Fail River is in excess OF
demand, the difficulty in prices is pro-
baby largely due to the belief that a
big yield of cotton must reduce the
price of the material.
While some wooden mills have started
operation during the week quite as
many have stopped. Although wool is
about 10 per cent lower than it was
February 1st, themanufacturers are not
buying and the market is remarkably
dull with sales during the past two
weeks Of only GIFTS, 700 pounds at the
three chief markets against "a 331. 500
last year, and Il, $50, 500 in1S96 and 13.-
O3S00 in 1892. The general feeling is
that the price of the material must de
cline before the manufacture can much
increase It's sale. Orders for goods have
been little better and a few mills have
resumed operation, but there is as yet
no such demand as is necessary to sus-
tain current prices of wool
The iron manufacture again reports
a small increase in weekly output, BIS
635 tons against 213,043 a month ago.
and with the decrease in quantity of
unsold stocks on hand outside the great
steel companies, the apparent cOnsump-
ton for the month of September was
$685. 04 tons against $50. SOB in August.
There are quite heavy eastern orders
for foundry iron, fully supporting prices
and at Chicago prices of local iron are
strong with less disposition to sell
southern pig at reduced quotations. The
orders for finished products include a
very heavy demand for plates, especial
" for ship yards, several of considera-
bic magnitude for structural works
covering about 5000, and an unusually
heavy demand for bars. especially on
account of orders for car works al
though there has been an expectation
of a big break in prices of cotton ties.
In pipes, Pittsburg has been able to
place orders for 80 miles ten inch pipe
and other orders for 100 miles are prac-
Gically closed.
Failures for the week were 205 in the
United States against 223 last year and
rs in Canada against Sc last year.