The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1899-01-07
ON THE UP GRADE.
Dun Says Year Begins With the Kind
of Business That Counts

New York, Jan. 7.-R- G. Dun & Co.'s
Weekly Review of Trade says:
The year begins with the kind of bust
ness demand that counts. For months
there has been rising demand for ma
terials but now the crowding demand
for finished products begins to advance
prices in the iron and steel industry
about one per cent, without quotable
changes in pig except at the east.
Beams have advanced 81 per ton,
angles 81, bars 81, and plates are strong,
with an Australian order for 80, 900 tons
refused at Chicago because the works
are already overcrowded. Many thou
sand cars are covered by orders at
PittSburg, 5000 tons bars are taken
for agricultural works at Chicago, 105.-
600 tons rails are taken by the PennSyl-
vania company; the Midland Railway
company of England has ordered TWEEN
ty locomotives from the Baldwin works,
and many other home and foreign or
ders are reported. The demand has
never been greater at the beginning of
the year than it is now.
The wooden manufacturer has sin-
liar embarrassment. While all quota
lions of wool by Coates Brothers of
Philadelphia average 1903 cents against
20.17 a year ago, the market is gradu-
ally yielding, because people appreci-
ate the magnitude of stocks on hand,
which the Boston Commercial Bulletin
reports at 291, 600 pounds, an increase
in it's account of 114,000,000 pounds for
the year.
Obviously, this means a great move
ment from the farms to millers stocks
and eastern markets, but prices are not
yet low enough to encourage large buy
ing or consumption by the manufactur-
ers, the only heavy weight goods yet
opened are at reduced prices, as had
been expected, and it is still uncertain
how far the trade for the coming sea-
son may prove satisfactory.
Cotton goods are in fair demand, with
iii x1.1T-~ H.
can guarantee that the price will not
go lower, it is believed by competent
observers that the market for goods is
so far relieved of accumulated surplus
that prices are not likely to decline ma
teria1ly, even if cotton falls.
The movement of cotton thus far in
dicates a crop over 500 600 bales larger
than of last year in spite of all natural
disposition and concerted efforts to hold
it back AS producers are not this year
in unusual need, a movement so heavy
binders any advance in price, although
takings of spinners have been as large
in 1898 as in any other year, and ex-
ports larger than before
The wheat movement has to sustain
it the largest foreign demand movement
ever known for wheat and corn to-
bushels flour included, against 2, $40, 31S
last year. with Pacific exports of GA. 1913
against s72,446 last year, would give
some reason to anticipating higher
prices, were not the western receipts
4. 101, 522 bushels against 8, s76,072 for the
same week last year. The wonder is
that the foreign demand for corn con-
tinues so heavy, 3,472, Alp bushels hav-
ing been exported in this week against
2 S54 $50 in the same week last year.
The country is on the up grade and
the men who expect it to take a down
ward road have yet some time to wait.
There are no indications of a reaction
which always follows a large and rapid
business recovery, and existing condi-
lions in the industries and in foreign
trade by no means forbid the hope that
the increase may continue, as it did
after the revival in 1879, for several
years Exports compared with imports
continue to indicate an enormous bal