The Topeka state journal., 1900-05-12
BUSINESS EXPANSION.
Volume is Generally Larger Than
Last Year in the West.

New York. May 12.-R. G. Dun & Co.'s
Weekly Review of Trade says:
With wholesome promptness the
country is recovering from the embar-
rassment of unnatural high prices. In
some lines the great manufacturing as
sociations have taken the lead; in others
reduction is still deferred because the
entire production capacity is engaged
at high prices for some months to
come: in others it comes in spite of
resistance because buyers hold back or
ders for their own protection until ma
terial concessions are made. No dis
turbance nor Stringency of credits re-
suits, nor any sign of alarm and the
movement is perhaps more healthy
than it could have been if entirely con-
trolled by the competition of many
small concerns. The proportion of
works and of hands unemployed is yet
quite small and the volume of business
transacted, though less than last year
in New England and in the middle state
cities, is larger than ever before at 81
out OF 63 clearing houses in the entire
region west of Pennsylvania and south
of the Potomac.
Production stimulated by high prices
rises above consumption retarded by
them. The weekly output of pig iron
May 1 was 239, $50 tons, against 2S9, ,482
April 1, while unsold stocks not held by
the great steel makers increased A, ,645
tons. This would indicate a daily con-
sumption of 40,641 tons, against Al, ,642
in January, hitherto the largest but
for the fact that considerable stocks
have also accumulated in the hands of
consuming concerns, of which enough
to use much more than 1000 tons daily
are now idle. Besserner pig at Phila-
delphia and Lehigh Valley No. 1 here
are quoted at $22 per ton and market
wire has been reduced in correspond
ence with barbed and plain. Consider
able increase of business is reported re-
sulting from recent reductions, but de-
mands for higher wages and also for
closing some of the iron works two
months in the year, whether there is
business or not, causes some hesitation
regarding further contracts. The
smelling and refining company has re-
duced lead 50 per ton to 415c, and copper
declined an 1s to 1890 for lake, while
tin is also lower at 29c.
Wool yields a little more, chiefly in
the finer grades. A decrease of nearly
10 per cent at the London sales is one
continued abStention of manufacturers
who did not find the market for goods
at the advanced prices named this year
at Falls City, except for a few staples
Cancellations cause some trouble and
slow payments some, and prices OF many
grades are irregular. Cotton goods are
also irregular and in unsatisfactory de-
mand; the prices average only 10 per
cent higher than they were November 1,
while cotton has risen 1873 per cent from
7ss to 97sc, and is supported by foreign
buying Silk on the other hand has
fallen sharply, 80 to soc for the different
grades, and from the highest point in
January, Csc on Italian, $1.1O on Jap
anese, 75c on Shanghai and $1.05 on
Canton, imports from China having
greatly increased. The opening of Phil
ippine ports has also reduced the price
of hemp from 15c last November to lie.
Shipments of boots and shoes from
the east for the first seek of May We're
smaller than in the corresponding week
of every year save one since 1894. Ac-
counts indicate that dealers stocks
throughout the country are unusually
large and many shops are closed, while
many more have but little work ahead.
Prices asked are practically as high as
they were January 1, though leather
ages per cent lower and hides are
about 10 per cent lower.
In spite of good exports wheat
prospects suffice to cause a decline OF
13sc, while corn has declined 23sc. Corn
| exports still run much beyond last years
| in two weeks 6,850,500 bushels against
| 4720. .666 last year, and Atlantic exports
| of wheat flour included, have been ir
two weeks 5,199, ,508 bushels. against
| 5.236, ,705 last year, with Pacific exports
1,094,69 bushels, against 1,0S9,1S2 last
! year
On both grains the movement from
| the farms is large enough to dispel al
fear that the supply will run short
Failures for the week have been 49,
| in the United States against 165 last
year and Is in Canada against 20 last
/ wear