The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1900-01-27
PRODUCTION CATCHES UP.
It Has at Last Passed the Demand
For Manufactures.

New York, Jan.27.-R. G. Dun & Co.'S
Review says:
No news is always good news. New
business for manufacturers this year
has been light in some branches and
much below the production last month.
1t is, perhaps too often forgotten that
the industries start this year with
larger contracts ahead than ever before
and when half the work of the whole
year has been ordered in advance there
can not continue quite the same activi-
ty in new buying. The .woolen manu-
facturer has Just opened a new season
with the largest transactions ever
known In a single week it is said, but
in most other lines contracts previously
booked would make similar activity i'm
possible. Yet there is seen enough Of
hesitation caused by advanced prices to
make inactivity trying. Distribution to
consumers throughout the country is
rapid and large, especially IN quarters
where it has been feared that retailers
were over buying,so that there is strong
confidence in the future.
It could not be expected that business
would adjust itself without any embar-
raSsment to such a rise of prices as has
occurred. Early in December wool rose
too high for prices then obtainable for
WOolen goods and weeks Of dullneSS fol-
lowed. The boot and shoe manufacture
er is receiving small orders as jobberS
ted supplies as are needed for sorting,
but their urgency to receive goods here
tofore ordered is marked and ship
ments from Boston have been 3S0,963
cases in four weeks, about 4 per cent
more than in 1898 and Is per cent more
than in 1895, with greater increase over
every other year. Leather is inactive
and slightly weaker in spite of heavy
exports, and hides are yielding at Chi
cago with accumulation of stocks.
Iron and steel prices have been yield
ing for several weeks and are a shade
lower for products than at any other
time since the middle of September.
though Bessemer pig and billets are
still so scarce and firmly held that only
two sales amounting to 5000 tons are
anywhere reported. Agreements to hold
the price of bars do not prevent sales
at Philadelphia for 2-0712 of iron con-
sidered by buyers best refined, accord
ing to the Iron Age. Sellers call it
common, and plates and sheets are both
irregular, there were narrow plates sold
at Pittsburg below 1925. Structural
shapes are not quoted lower, but the
New York Central contract for 1900
tons bridge material went to Pennsyl-
vania, and Detroit works and two Or
ders for LOCO tons rails are taken at
Chicago. Last year 13,620,7 703 tons of
pig were produced according to the off,
cial record, the consumption being 13,-
374, ,277 tons. In minor metals tin only
has been active, January options being
quoted at 2712 cents.
The cotton manufacturer meets but
moderate demand for goods and the eN-
tensive famine in India is expected to
reduce British sales in that country,
while the addition of S,963, ,3S4 spindles
at the south in 1899 reported by the
textile world would imply a heavier
increase than has been supposed. Scare
ity of water has curtailed the output for
weeks past and yet prices are hardly
held with distant contracts a shade
lower Cotton has risen to cents. Al
though exports during the month have
been 1000 bales smaller than last
year, receipts from plantations have di-
minished about as much.
Middling uplands are now sold at a
higher price than has been quoted since
September, 1897, and are more than IL
cents higher than al this time last year.
Wheat has advanced to 1873 cents
with no clear reason for such a sharp
advance. Receipts are small, in four
weeks only 10,984, ,92S bushels against
II, ,29O, ,297 last year, but the Atlantic ex-
ports have been only 7,737474 bushels,
flour included, against 11.037, 1888 last
year. Pacific exports show little gain,
mounting to 3,311, ,236 bushels for the
same four weeks, against 2, 175.2 24S last
year, but this is of no aid to Atlantic
markets.. Exports of corn still show
that American feed is wanted abroad.
having been in four weeks 19,4S2,792
bushels. against 12,370,564 last year.
Nevertheless the price of cash corn has
declined about three-quarters of cent,
although option prices are about the
same as at the close last week
Failures for the week have been 25l
| in the United States against 224 last
year, and SO in Canada, against 80 last
year.