The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1899-12-23
HOLIDAY BUSINESS
Has Been Larger Than in Many Pre-
vlous Yesrs.


vlous Yesrs.
New York. Dec. q r G. Dun & Cos.
Weekly Review Of Trade says:
The worst day in Wall street for
many years was in part the legitimate
result of the best year in business ever
known. because the country has pros
pered so greatly and had so expanded
its business that il could no longer at
ford TO have many millions locked up
in carrying stocks representing imagin-
AIRY value. The question was not one of
monetary supply. When the country
found ample use for its capital in reg
ular trade and productive industry.
contraction of loans became necessary
which would only have been more pain
1ul if the volume of stocks carried had
been larger. Reckoning from the high
est general average last spring, indus
trial stocks had fallen at the close on
Monday 1927 per cent; street railway
stocks $3.50 per cent and other railway
and telegraph stocks only $40 per cent
The business OF the country close to
The holidays is necessarily smaller than
il has been. and yet larger than at the
same date in any other year EX-
changes through principal clearing
houses for the week have been 33.7 per
cent larger than last year. and 50.4 per
cent larger than in 1892 including 32.1
per cent gain in payments outside of
New York There was not even a sus-
piciOn of unsOundness in any consider
able branch of industry or trade. the
extraordinary expansion in some being
as well warranted as the material gain
in others.
Cotton suffered in speculation for
day with stocks, but the great increase
in receipts from farms since Septernb Der
over 100000 bales gives strong support
to prices. as does the increase of 200. 900
bales in takingS by spiuners- The de
mand for goods is quiet and the price
holds steady Good sales have dropped
sharply with monetary pressure, but
prices do not change. and the opening
on heavy weight goods retards at pres
ent purchases for mills Yielding ap-
pears at last in hides at Chicago, in
most kinds about one-quarter of a
cent, with evidence that recent ad-
Vances could not be sustained Leather
has been steady for hemlock and other
sole. but in satin, grain and kid, the
demand has fallen off suddenly.
High prices for iron are wonderfully
sustained. and though many works will
close for stock taking and the holidays.
while the furnaces do not stop, pig
shows no weakness. Prices on finished
products change little. though more
concerns have reached the point OF
competing for new orders and there is
some weakness in sheets because many
tin plate mills are to be closed soon at
the east and in plates not of the large
size, competition is sharp. but in bars
the demand is somewhat improved and
structural works have continued their
combination for another year without
change in prices.
There has been less violent fiuctua-
tiOn in the London market for tin but
the closing price here is slightly lower
at 24A cents. Copper declined little in
spite of weak stocks at Boston while
lead is scarce and firmer at 4 65 cents
Wheat has fallen both in foreign de-
mand and in prices in spite of still
greater loss in western receipts for the
week officially 3,306.2S6 bushels, against
t.3401l0 last year. Atlantic exports.
flour included, have been in three weeks
only 6S64.433 bushels. against 15415.S6S
bushels last year. The price rose
qulcAly on Monday when other things
were falling, but subsequently reacted
and closed "a lower Corn exports are
sun well maintained. for the week g.
a-e,ltS bushels, against 1924 S36 last
year, though western receipts have
fallen of. being only 9,4O9, SOS bushels in
three weeks, against lao, 567 bushels
last year
Failures for the week have been 22O
IN the United States against 25S last
year and 26 in Canada, against 81 last
year.