The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1899-01-21
JANUARY THE SAME.
Everything Indicates Another Great
Trade Balance In Our Favor

New York, Jan. Pr. G.. Dun & Co. IS
Weekly Review of Trade says:
A new year rarely opens brilliantly.
Too many traders have to wait for the
demand which in winter comes slowly
The industries resist fairly we'll the ten
dency to unlimited expansion which
some have to meet. Speculation in prod
ucts is gaining but little, while the
enormous volume of business in the
stocks results in continually higher
prices. The volume of payments through
clearing houses is extraordinary, 42.7
per cent larger than last year, 969 per
cent larger than in 1897 and SIS per
cent larger than in 1892, even the trans
actions outside of New York showing a
gain over 1892 of 44.6 per cent. Specula-
tion at New York, therefore, can not be
the main cause of gain. Difficulties be-
tween holders of material and manufac-
turers continue to hinder in some in
dustrieS and in some may prove serious
ly embarrassing, but the activity on the
whole is unsurpassed hitherto, and the
volume of traffic is beyond all expecta-
lions.
In some branches consumption is run
ming beyond the producing capacity,
but in others it is hindered by doubts
about the future supplies and prices of
materials.
WOOL.
The wooden manufacturers are still
waiting, with only a moderate demand
for goods as yet. The production is
large and considerably larger than in
recent years, DuI does not nearly aD-
proach the capacity of the mills. Sales
of wool for the past three weeks at the
three centerS of the eastern market
have been 16, 495, 900 pounds, against 22,-
322, 900 last year, and prices of domestic
fleece are lower, with present demand
running largely to a quarter and a half
blood and Australian cross bred. But
there is not enough change in material
or in demand for goods to encourage
heavy buying by manufacturers as yet
COTTON
The cotton manufacturer has a large
demand for goods, but raw cotton has
so rapidly advanced that possible buy
ers apprehend a fall and there is hesi-
tation in the purchase of staples. With
receipts of cotton far ahead of last year
from the greatest crop ever raised,
there is now apprehension that good
qualities may fall short before the year
closes. Much cotton remains in the field
yet unpicked on account of bad weather
and is deteriorating in quality. The silk
manufacturer, knowing many threats
of it's interference, and disputes about
duties, seems to be making steady prog
resS.
IRON AND STEEL.
The iron and steel manufacture leads
all others in the volume of new bust
ness. While production is much the
largest ever known, many of the works
are Withdrawing all quotations or nam
ing prohibitOry prices in order to check
orders which they can not fill for
-
cept at current prices. The number of
such works is rapidly increasing, as the
heavy demand for materials covers
many months capacity. The bessemer
pig is a shade higher at $1,000, with
sales of %, 900 tons at Pittsburg, and
there is something like a famine in gray
forge, with sales at 1918, although one
sale at 1895 in the valley is reported.
While finishing products are in very
great demand, especially for car build
ing and special work at the west, the
week shows no advance in prices ex-
cepting so cents per ton on steel rails at
the east.
FOREIGN TRADE
These conditions favor continuance of
the extraordinary foreign trade, which
resulted in the greatest balance in favor
of this country ever known. January
this year indicates a similar excess of
exports over imports, and, while wheat
exports have increased every month
three weeks 15,07S,077 bushels, flour an
cluded, from both coasts, against II,
899, 952 bushels last year.
CORN EXPORTS.
Corn exports have been quite up to
last years unprecedented record
amounting to $500 S99 bushels, against
9,297, 1S9 for three weeks of January last
year, although prices have declined
about half cent. The contest between
spectators in wheat at the west and at
| the east has held prices fairly steady
with an advance of only an eighth for
| the week Cotton fell to cents but
afterward rose to 6.12, without satisfac-
| tory reason in trading, but this is be-
cause Of apprehension that supplies OF
good quality might fall short.
Failures for the week have been PAS
in the United States, against 374 last
| year. and 81 IN Canada, against 50 last
| gear.