The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1899-02-18
BUSINESS
EXPANSION
Is Keeping Pace With Terri
tOrial Expansion.
MOn0p0lies Have a Stimulating
Effect ON Trade
WHILE BEING FORMED
Says Dun & Co. But Stifie it
Afterwards.
But There is Also a Substan-
tial Enlargement.
WHILE BEING FORMEI

x.
Co.'S Weekly Review of Trade says:
Beyond question business is expand
ing and in many branches it is larger,
notwithstanding speculative combina-
tons which tend to reduce it, All mo-
nopoLeS or attempted mOnOpOiieS slim
ulate business while they are coming
but tend to stifle it after they come,
and the throng of combinations and
trusts which have been formed or pro-
posed have given a temporary but very
questionable impetus to trade. But
beyond the influence of these there is
genuine and substantial enlargement
OF business, due to the unexampled
prosperity of a growing population
The weeks output of pig iron Febru-
airy l was 237 .639 tons. against 243. SIG
January l, and 235,52S tons greater in
January than in December and the un-
sold stocks were reduced Al tons in
January, against 81, 449 tons in Deem
Der, so that the apparent consumption
in manufacture was, in January, no.
079 tons, against LOSS, 176 in December.
The stoppage of several furnaces for
necessary repairs at g. time when the
demand IS most pressing has caused
some fear of famine, although quite
number of other furnaces have started
since February 1 or are about to start
Pig iron has advanced, but the largest
month is in part due to the hasty pur-
chaseS of products about to be con-
trolled or advanced in price by a COM
bination. There are so many of these
present market does not clearly indicate
the magnitude of demand, and disap-
pointment in some branches is not inn
probable But the rise of 81 in steel
rails, with the entire capacity of all
works engaged until after July 1, is not
unnatural, nor the strength in plates
for which the legitimate demand is be-
yond all precedent, and the same is true
of bars, the quantity required for cars
railway and agricultural implement
work being enormous. In pipe the as
ISOLATION lifted prices about per cent
with a heavy order from Indiana gas
works.
No fictitious demand has caused the
rise in grain, for the exports continue so
heavy in wheat and corn that the ad-
vance of 81 cents in wheat is abundant
ly justified and the rise of q cent in
corn seems scarcely enough for the oc-
casion. Atlantic exports have been re-
tarded by the blizzard, but they have
been 2,265,715 bushels, -four included
against S,142,057 last year, and for the
crop year thus far the exports including
flour, have been 156,7S7,740 bushels
against 143, 714,142 bushels last year
When it is remember that the exports
of corn are almost as large as the
largest ever known there is reason for
establishment at the continued foreign
demand That it persists in spite of
the strong advance in prices here since
September l is most encouraging It
is obviously impossible to judge how far
it may go.
ton abate, although the price has again
been raised 3-16 during the past week
The exports have decreased some but
the controlling fact is that a remarka-
BILE shrinkage in receipts from planta-
lions appears to indicate a smaller yield
than has hitherto been expected. It
should be remembered that the receipts
have been greatly hindered of late by
bad weather and when it passes away
they are likely to look large as they
now look small, but snow in New Or
leans also means failure to save to the
market some cotton which might other
wise be saved. The heavy demand for
goods helps to advance prices just now,
although no assurance can be given that
the declining prices will not presently
check that demand.
There is much more inquiry for wool
and manufacturers have a larger de-
mand for heavyweight goods, but they
maintain they can not pay prices now
demanded for wool, and most of the
purchases made appear to have been
at some concessions. Sales at the three
chief markets were 6.160. 200 pounds
which is about the weekly consumption
with eastern mills well employed, but
they were partly on speculative account
and in fine and fine medium territory
sales are mentioned at 40 cents cleaned
and in Ohio at 26 cents and upwards
The minor metals have been running
weaker, with a reaction in London, al
though the industries have shown no
abatement of demand in this country
and the rise in prices here is largely due
to increased consumption.
Failures for the week have been 17S
in the United States, against 295 last
year, and Is in Canada, against So last
year.