The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1899-04-01
BEARISH TIMES.
Il. g. Dun e. Co. Says Business
Has Been Checked
By the Rapid Formation OF
Trusts and Combines.
CAUSES UNCERTAINTY.
Nobody Knows What to Expect
In the Future.
Iron Holds Its Own and Wheat
Tends to a Rise.

New York, April 1-R. G. Dun &
| Co., in their weekly review of trade
| say:
Failures during the first quarter or
| 1899 have been in amount of liabilities
not more than about $26. $3.50, $3.50, against
$S1, 10, Jap last year. $4S, 007. $40 in 1897,
and $57, 525, 125 in 1896. While the later
| returns may increase the amount Tor
the quarter a little. the complete return
which will be given next week VIII De
very remarkable in comparison with
that of any previous year.
Business is not at present improving,
there has been something very like
check, partly the result of heavy buy
ing since January l. to anticipate the
market, partly caused by the uncer-
tainty about the operation of many
combinations and a shade OF DOUBT
about foreign affairs also had some IN
huence. The new rule of the clearing
house banks at New York about taxa
ton of country checks also causes some
shifting of accounts.
ership to another and from one man
agement to another and from one IN
dustrial system to another Wnere AZ
affects many hundred establishments
throughout the country inevitably
causes some hesitation in business. a
little later the many hundred concerns
as they were Just before combinations
were effected. But at the point of trans1-
ton nobody knows just what TO eX
pect. There is much withdrawal OF
iron business because continuance OF
high prices is doubted, because great
purchases made by many works have not
been met by orders and because works
affected by many other combinations
proposed are not inclined to buy more
largely.
Prices are strongly maintained at
$15.15 for bessemer pig at Pittsburg, the
Valley association having sold 13O,0OO
tons for delivery in the last half OF the
year at $14.50 and grey forge is stronger
at $14.40 but hesitation appears at phil
adelphia about maintenance OF future
prices. Chicago is inactive compared
with recent weeks. With no sales re-
ported except 10000 tons at Chicago,
rails are quoted 81 higher there and as
much at Pittsburg and the sale of $780,
900 tons steel billets to the tin plate
company sets prices for 100 pounds
plate at $4-05, after July 1.
Structural demand increases but bar
mills at the west and south are cOnsol-
idating and are not disposed to take
large contracts, although the Pittsburg
mills are asking $3.50 because behind
their orders. For plates the demand far
exceeds the supply at Philadelphia and
Chicago, and the leading mills at Pitts
burg are full until August or later. In
hoops cotton ties tubes and other pro-
ducts, consolidation affects business.
Minor metals are stronger for tin at "a
cents, with consuming demand, ana Tor
copper at IFS cents, owing to London
speculation.
More evidence appears that the wooden
manufacture is not helped as yet by
new combinations or the prospect of
them and the buying demand has been
disappointing in many ways, though
in dress goods active. Sales of wool
were 20, 500, 100 pounds at three chief
markets in four weeks, against S,877 800
pounds last year. when prices were held
at the top, So, 8S6, 200 in 1897, when prices
were being rushed upward, and 80, 932,-
$40 pounds in 1892, when manufacture
was normal, indicating a fair but not
extraordinary demand for goods. Prices
are said to be quiet for Ohio at 26 cents.
The boot and shoe business is again
hating because of difference between
buyers and sellers as to prices.
The fluctuations of the wheat mar
ket have been large and tend on the
whole toward higher quotations. Ex-
ports at Atlantic ports, flour included,
have been for four weeks II, 679, SIP BUSH
els, against 1892, 495 last year, and Pa
and the other exports, not given last
year make the total 1887, 0S9 bushels.
Western receipts have been 12,949, 815
bushels against 9,966,373 bushels last
year.
Railroad earnings for three weeks of
March have been Al per cent larger
than last year and 9.S per cent higher
than in 1892, and the eastbound tonnage
from Chicago in four weeks has been
459,438 tons, against 622, 901 tons last
year and 356.365 tons in 1892, which in
dictates quite clearly the remarkable de-
preston in rates year ago.
Failure for the week has been 1914 in
the United States against 220 last year
and 266 in Canada against 81 last year