The Topeka state journal., 1899-08-26
PLAIN TRUTH
Regarding the Business Boom
Throughout the Country.
1t Needs No Embellishment-
Facts Are Enough.
GENUINE BUSINESS.
1t Is No Speculative or Mush-
room Affair.
Productive Industries Are All
Sold Far Ahead.
GENUINE BUSINESS.

New York, Aug. 26.-R. G. Dunn q
Co.'S. Weekly Review of Trade says:
Nothing is more eloquent than the
facts. Actual payments through the
principal clearing houses were 2S,O per
cent larger than last year, and 56.2 per
cent larger than in the same week in
1892. For the month thus far, the daily
average Of payments is 26.3 per cent
larger than last year and $50 per cent
larger than in 1892. Tonnage from Chi
cago in three weeks has been so. per
cent larger than last year, and 74.6 per
cent larger than in 1892. It will not be
suggested by anybody that such an as
tonishing increase over the most pros
porous of all past years except the last
was exaggerated. Most people really
regarded last years expansion as
something like freak. Nor is the diff
ference in amount of payments mainly
due to rise in prices, for prices of sew
eral hundred articles actually range
lower on the whole than in August, 1897
1t is a consumers business also. Per
haps never before have demands for
actual use controlled business and
prices with so little speculation to an
ticipate higher markets. In TACT, the
rise in most articles has gone further
than speculative opinions have war
ranted. Practically all industries are
some months behind the requirements
for actual use, and in many much Of
the output next year is already sold.
Iron works which supply Pittsburg
are sold far up into 1900 and can do
nothing though prices much beyond
what they received are paid by those
who must have iron this year. The
enormous demand for more railroads
and rails and cars, more vessels, ware
houses and buildings to handle the ex-
traordinary business in progress can
not be met as quickly as men would
like and work of all sorts is delayed,
from the biggest war vessel to the
smallest factory.
The boot and shoe business is like
wise crowded, not SO far ahead Of pro-
duction, but farther than many pro-
ducers like, by the clamorous demand
of jObbers, who can not keep up with
retail distribution. Prices have risen
quite generally 21s cents per pair, but
any shrinkage in orders as the season
WaneS is welcome to producers already
committed far ahead Shipments in
three weeks have been 13 per cent
greater than in any other previous year,
and 25 per cent greater than in 1892.
Leather rises further, especially for
upper, with demand beyond precedent
and large producers sold four months
ahead, and hides at Chicago are also
stronger, with heavy sale ahead Of cur
ing
Cotton goods also have further ad-
vanced in lines not affected by proposed
consolidation and the demand for wool
en- goods has gone. beyond all expecta-
tlOnS. The sales Of wool are enormous
35. 677 100 pounds in four weeks, 80 lis, =
400 pounds being domestic, with prices
generally unchanged, though conces-
sions are now made to escape sales in
some lines.
Sharp fluctuations in cotton show how
fears of injury by drouth in Texas and
elsewhere would affect the market if
there were not on hand about 5000 600
bales of old cotton, including 800 900
bales in European and probably $780,
444 bales in American mills. COnSump-
tion is enormous, but it can not ex-
haust such supplies soon.
Reports of injury to wheat in the
northwest have likewise affected the
market but only for a. day or two, the
price closing q cent lower for the week.
Western receipts no longer keep up
with the extraordinary movement, a
year ago, falling 1900, 600 bushels behind
for the week, but for four weeks, have
been Is 367 ,414 bushels, against 14,354-
621 bushels last year. Atlantic exports
were slightly larger than last year and
in four weeks II, ,421, ,322 bushels -four
| included, against II, 737, ,2S5 bushels last
year, while Pacific exports have been
| 332 024 bushels for the week, and in four
! weeks 1855. 1853 bushels against ], 531. .954
| bushels last year. Corn exports con-
tinue heavy, in four weeks 16 723, ,524
! bushels against 9.31S,113 bushels for the
| same week last year, and rose IL per
| cent during the week.
Failures for the week have been 1853
/ in the United States again 179 last year
| and 16 in Canada against 26 last year.