The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1899-04-22
WORST is OVER.
Usual Time For Financial
Troubles in the Spring
Has Been Safely Passed Says e.
&. Dun & Co.
CROP SCARE FAILS
In the Face of Receipts Larger
Than Last Years.
American Copper is Being Re-
turned From Europe.

New York, April PR. C. Dun &
Co.'S Weekly Review of Trade says:
Nothing appears in business or in
money markets to prevent continuance
of the heaviest trade ever transferred
at good profits. The payment to Spain
is supposed to have caused some result
in foreign exchange which will amount
to nothing in any case as balances due
from other countries more than cover
the payment and advance bills against
crops to come forward in July and la
ter will soon be offered. Loans on in
dustrial securities are still at hi CHER rates
than on railway stocks, but on good
commercial paper or railroad stocks
money is in ample supply and at low
rates. Nor have stock operations
caused any appearance of pressure.
The financing of new corporations has
passed thus far with less trouble than
had been feared, though the completion
of some organizations is hindered or
has failed. The usual time for financial
troubles in the spring has passed and
the usual alarm about crops has done
its work and still industries are undis-
turbed.
The one hindrance in stock specula-
ton is doubt about the crops, but bet
ter unofficial reports have supported
differences warranted by the heavy re-
ceipts from the farmers in the west and
south. FARMERS 90 not SenQ wheat OF
cotton to market in large quantity
when crops anywhere near them are
extensively spoiled. Wheat receipts
have been 5,711, 343 bushels against o.
zoe, SAB last year in three weeks of
April and the improvement since April
l is worthy of notice. Exports have
fallen off, amounting from both coasts
to only 6,774. 774 bushels, flour included,
in three weeks against 1898, 122 last
year, and the price closes but one-half
cent higher than last week. Corn is
about steady in price with decrease
in exports natural at this season. Cot
ton rose on Monday with the slaughter
of Liverpool shorts and closes an
eighth higher but without reason to
expect a short yield.
Nothing but Industrial depression is
left to excite apprehension but the in
duStrieS are meeting something very
unlike depression. The kind of ''lull'
that appears in the iron market re-
joiceS manufacturers because they are
crowded far ahead with orders. 1t
means, very true, that many buyers do
not want to contract far ahead at the
high prices now asked, and also that
many orders have been for a time with
drawn. 1t also means that manufac-
turerS who are so crowded that little
new business can be taken are anxious
to get nearer the end of their engage
ments before fixing prices for the fu-
ture. Almost nothing is done in pig,
though southern is sold largely at
Chicago and Pittsburg. Heavy demands
works can not be met at Chicago,
plate mills there and elsewhere are re-
fusing orders, contracts for 5000 to TO-,
900 tons structural work at Pittsburg
and some at Chicago are taken though
many others are deferred and sheets
are less active debcause the works are
generally crowded The coke produc-
ton is close to the maximum.
London speculation lifted tin to 251sc,
in spite of 4,440 tons arrived here and
copper is very strong and scarce at
1872 cents for lake, with 500 tons
brought back from Europe, though the
United States production was only 21,-
918 tons in March.
Men who have held wool stiff1y for
more than a year are selling freely at
bottom prices. admittedly the lowest of
the year. Sales at the three chief mar
kets in two weeks have been %, 204, 2S5
pounds, of which 1881, 5S5 were do
mestic, against 1906 100 pounds in
1892. Territory wool 100000 pounds was
sold for exports to England and 1885,
600 Australian in bond, which has been
held here Is months, f1ne wool being
very high there, while cross bred is
so low that it can be imported. With
assurance of better prospects for goods,