The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1899-10-21
MORE EXPANSION.
Volume of Business Continues to
Grow In the Face of Rising Prices.


New York, Oct. Pr G. Dun & Cos
Weekly Review of Trade says:
In most lines business continues to
expand, though in some there are signs
that buying has been checked, either
because prices have Outrun the views of
buyers or because recent purchases
have been so heavy that nobody is left in
need. Prices are still advancing in
almost every line supported by rising
prices OF materials, and works every
where are still crowded to their utmost
capacity, while at many points it is
round hard to get enough competent
hands. But the volume of business ex-
pressed In values rises much more than
prices, showing a remarkable increase
in quantities of goods exchanged.
Inc outbreak of war in South Africa
has brought no such changes as many
feared. In England the markets have
treated it as an event already over
discounted, and relations with this
country were not appreciably affected.
The Outgo of cotton is just now check
ed, but of other great staples and man
utactured products the foreign demand
is surprisingly sustained.
Wheat has declined ~ cents in price
in spite of unfavorable crop reports and
western receipts do not keep I'D with
the unprecedented movement of last
year. having been %, 254, 400 bushels
against 1882, 494 bushels during three
weeks of October last year. But At
lantic exports, Hour included, have been
in three weeks of October IO679 PIG
bushels, against $3.50 226 bushels last
year, and Pacific exports 539 1873 BUSH
els, against 2,2S9, 312 bushels last year
Beyond doubt prices would rise far and
fast with such a foreign demand. if Of
fetal and other current reports of yield
were fully credited. Corn exports have
been in three weeks 1O,924,4O6 bushels,
against 1902, 039 bushels last year.
The upward movement of cotton,
ee-siXteenths for the week has now
come to depend largely upon a great
fo Nv
andS are now holding back cotton to
some extent, while importing banking
and trading interests are enlisted. The
consumption is heavy, but might be
much larger, even with the lowest esti-
mate of yield, without exhausting the
visible and mill supplies. Prices of
goods have risen so far that there is
some doubt whether they can be main
tanned.
Wool has also enlisted a powerful
speculative interest and sales of IL
$4,000 pounds for the week at the three
central markets represent about twice
the consumption. But it is stated that
manufacturers, exclusively of the Am
erican Wooden company, have been
buying quite freely and while goods for
mems wear outside Of WOrsteds were
not particularly active, there has been
excellent business in dress goods.
Sales of $4,000 tons bessenler pig and
a reported demand for 10009 tons bill
lets IN a bare market, at PittSburg,
have made quotations less Intelligent
than usual Bessemer sales at $23 for
next year, and $24.5O for this year at
Pittsburg are reported, with billets
sales at $39 to $40 and sales of sheet
bars at $36 per ton. The western mar
ket is strong, and the eastern not
changed. While large orders for bars
are refused at Pittsburg by the works,
which are full for many months ahead,
others just starting are seeking such
orders at 81 cents and the Chicago and
PittsbUrg markets are still full of or
ders for plates, although the works at
Pittsburg have nearly caught up, and
some of them are now taking only 2.75
cents against 2.90 cents last week. Some
works are also taking orders for sheets
at 80 and in other directions there are
signs that the enormous production be-
gins to be felt. There is a possibility of
check owing to shortage of cars at
COnnellSville, which restricts delivery
of coke, the output for the week hav-
ing been 190,29S tons, with more ovens
in operation and prices unchanged. In
the minor metals, tin is very dull and
declining at 3112 cents, and the copper
market has been broken, lake being
freely offered at Is cents.
Failures for the week have been 145
in the United States against 221 last
year, and 20 in Canada, against "a last
year.