The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1899-07-15
TROUBLE SIGNS
Are Due Under Existing Cir
cumstances Says Dun:
But the Closest Search Fails to
Find Them.
EVERYTHING OUR WAY
Volume of Business the Great
est Ever Known.
Flow of Gold to Europe Has
Been Stopped.
EVERYTHING OUR WAY

New York, July 15.-R. G. Dun &
Co.'S Weekly Review Of Trade says to-
day:
Because every prospect pleases, it IS
the right time to watch most closely
for signs of trouble. But it is not easy
to find them when the volume of bust
ness is 63.7 per cent larger than last
year, and 75.5 larger than in 1892, the
best of all years except the last, or
when failures continue the smallest ever
known, or when the exports OF staples
begin to improve materially, or When
railway business is by far the best ever
known or when New ork bankers APP
pear in international operations, listen
ing to q Russian inquiry and under
taking Mexican loan. Even the indus
trial disputes incident to the season
cause less trouble than usual, the
largest of them having been settled
Thursday by the tin plate company.
The Bank OF England finds 1t dlfnculI
to borrow more from this side ana
frankly raises its rate. while this coun-
try begins to ship fresh crops for which
Europe will run into debt.
Iron production in the first week or
July was 263. 1858 tons; for the past two
weeks less. because a strike on July 1
closed seven ShenagO furnaces produc-
ing 200 tons daily, though it is expected
to end today and several other furnaces
have begun producing this month. The
increase of 1901 tOgs5= weekly in June
with a decrease of $1,000 tons in unsOld
Stocks,
implies a production of about I12S,6SO
tons in June. Consumption would be
1909 090 tons and in the half year g.
S44,215 but for the fact that steel max
ers have stocked heavily against orders
running through most Of the year, draw
ing from outside supplies, so that con-
sumption proves only 6,lOO,OOO tons, or
even less Prices are climbing but only
for the trifling surplus not covered by
contracts so that quotations represent
but a significant part of the actual bus
mess. 1t is of Importance that new or
derS though very many seem no longer
equal to the weekly output except in a
few branches. while furnaces and other
works, practically abandoned for many
years are being started again.
Copper is a shade weaker at 1874
cents for lake, government reporting the
output in 1898 as 526,315,391 pounds Tin
is strong with London speculation at
2S.25 cents and lead is advanced by the
smelling company to 4.55.
The largest shipments of boots and
shoes in any year for the season, 1913, $50
cases in two weeks, greater by ia per
1897 and 29.4 per cent than in 1892, result
from very extensive pressure to antici-
pate orders for August or September,
distribution far exceeding expectations,
but there are reported with such appeals
not nearly as large though numerous
duplicate orders. HemlOck sole leather
sells largely, but some kinds slowly with
slight yielding in prices. Though cotton
is steady in spite of Texas foods at GIG
cents and the general demand for cotton
goods is full and sustains prices, a re-
ductiOn of half a cent in some fancy
prints is reported Larger distribution
is expected this month and export in
creaSeS. In wool a great speculation is
in progresses. sales in two weeks reach
ing p, 261, 100 pounds against "a, 572, 500
in 1897 when the buying was to antici-
pate new duties. It is worth noticing
that no purchases by manufa cturers are
mentioned save one for 400 900 pounds.
though there is much calculation that
price asked. Western frenztes some
rule consumers make prices in the end.
In sharp contrast with official and
other wheat reports are the recorded re-
Ceipts at western ports, 80S8, 146 bushels
in two weeks, against 1,471, 739 bushels
last year. It is not strange that prices
have declined 1 Is and exports, -four
included, were from Atlantic ports in
July thus far 41S5,9 bushels, against
40S3, 312 last year, and from Pacific
ports 1,010, ASS, against sol, 100 last year,
besides sos, 5S5 bushels this year from
other ports. Corn exports are also sur
prising, 5,S15 204 bushels in two weeks
against 2,557, 098 last year, but less sur
priSing than western receipts, 10, SOP 541
bushels. against 4,561,071 last year.
Nevertheless the price advanced five
eighths of a cent.
Failures for the week have been 1859
in the United States against 215 last
year, and "A in Canada, against % last