Kansas City journal. [volume] (Kansas City, Mo.) 1897-1928, 1899-01-14
STAY UP
THAT IS MOST NOTABLE FEATURE
OF TRADE SITUATION.
HIGHER SINCE new YEARS
FOREIGN DEMAND THE STRENGTH
ENING FACTOR IN CEREALS.
Iron and Steel Sales Somewhat SMALL
er, but at Advanced Prices-Lon-
don Still Borrowing Money
From the New York
Banks.
HIGHER SINCE new YEARS

NEW YORK. Jan. 13.-Bradstreets to-
morrow will say:
Perhaps the most notable feature of the
trade situation at present is the strength
of prices of nearly all staples. but par
ticularly Of cereals, cotton, iron and steel,
which have apparently gained further
ground since the first of the year. Explana-
ton Of the strength of wheat is. of course.
found in the good cash demand which
seems to meet any slight reaction in values
and which has placed the price as high
as at any previous time for three months
past. This cereal and corn are both in ex-
ceptionally good demand abroad. judging
from the large exports reported, and good
foreign demand is likewise the secret Of
strength in cotton, shipments of which con-
tinue heavy. A feature of dealings in this
staple is the steady demand for good grades
and the indifference manifested toward low
grades, which, owing to bad weather at
the South, have been larger than the usual
supply. Cotton manufacturers. indeed.
have been complaining for some time Of
the low spinning quality and waste of the
present crop.
while large sales of iron and steel are
not SO numerous as in recent weeks. fur
ther advances in prices, notably of pig
iron, steel billets, plates and rods, bear
testimony to the eagerness Of buyers to Sc
cure supplies and the almost corresponding
indifference of the trade toward new busi-
ness, order books Of most Of the mills be-
ing reported we'll filled. Pig iron produc-
ton is the heaviest ever known, but stocks
show further depletion. The successful
floating of a number of large consultations
in this industry of late has stimulated in
terest and discussion in further considera-
tions.
s.rb fNry Nf
not confined to iron and steel, because with
in the week there are reports Of a project
ed great syndicate having for its object
the securing control of the entire Cuban to-
bacco supply this year. Among other ru-
mors of consultations is the story from the
Pacific coast of a proposed consolidation
of salmon canneries. Tin plates show the
effect of the consolidation in this nne. in an
advance from the low figure reached some
months ago.
THE strength OF cotton goods is still
a feature OF the dry goods market. but tne me
hoped-for advance in raw wool has not yet
materialized and the trade in manuiac-
tured woolens is still slow.
The feeling OF conhdenee IN the d immoe5
is looked for in the spring, the strength OF
hardwood being particular feature in this
Prices for boots and, and shoes are rs.d held 4
favorable. Leather. too. is firm and hides
are IN sympathy.
In other Industries activity is feature,
a notable instance being the heavy vessel
tonnage now being built, both at the lakes
camille and national purposes total
claimed to be far in excess of any previous
period in the countrys history.
r. G. Dunn & Co.'S Weekly Review OF
Trade will say tomorrow:
Contrary to the French saying. the ex-
pected has occurred. Rapid advances in
prices OF iron and steel products have had
their immediate effect, perhaps not to the
lasting benefit of the industry. for there Is
the same reason for doubt as to its per-
manency as In 1895 when shrinkage of buy
ing and reaction soon carried prices lower
than before. But there is now larger de-