The Topeka state journal., 1900-02-10
PRODUCTION Is GAINING.
It Has Overtaken Consumption In
Many Lines.

New York, Feb. 10.-R. G. Dun & Cos
Weekly Review of Trade says
The industries are still surprising in
actual output the work of any previous
year. Their new business is not cor
reSpOndingly large nor could such or
derS be accepted by most industries if
offered, but enough are coming to pre-
vent stoppage of works or much decline
in prices.
In woolen goods new business of re-
markable volume sustains marked ad-
vance in prices and in other lines of inn
portance as in machinery orders indi-
cate a surprising foreign demand. Mean
while though encouraged by the abund-
ance and ease of money, speculation
does not in any direction as yet go
without check far enough to do mis-
chief. There is much of the Specula-
tive spirit abroad, but also more eau
tiOn than is usually shown after a year
OF exceptional prosperity. Perhaps the
war in Africa, with its possibilities of
daily surprise, is in that respect pro-
ductive of good.
Cotton followed its rise from to 81
cents last week, by further rise to $50
cents with growing belief that the crop
viii prove short enough and the con-
sumption large enough to give holders
quite their own way. The decrease of
receipts in January was 253, 900 bales, or
~ per cent but in December the de-
crease was more than 80 per cent.
The exports in January were smaller
than last year, by $40, 900 bales, over 80
per cent and Ellison's report of 556, 900
bales in European mill stocks January
l, with visible stocks of American cot
ton 3,SS6,752 bales for February show
that good part Of the years needs is
already provided for. But it is rea-
soned that if visible and invisible stocks
should be reduced below 1900 900 bales
at the end of the year as they were in
1897, prices would range between and
SA cents, as in that year they did from
February l, to September 1,with great
crop coming.
the manufacturers here have already
been somewhat embarrassed by the
comparatively narrow demand since
prices of goods were materially increaS-
ed, but the rise this week has started
further advance in some grades and
may ultimately lessen consumption to
some extent.
No change of consequence yet appears
in prices of wool, though the demand
from spinners is limited and it is per-
ce1ved that they had previously sup
piled themselves quite fully for the
heavy weight season, for which thev
have taken very large orders. It is
thought by some that enforced sales of
foreign WOOL which was withdrawn
from the London sale in January in or
der to prevent a greater decline NAV
hereafter affect this market.
The weekly output of pig iron Feb
ruary /, was 29S, ia tons, but stocks un-
sold rose 20,390 tons in January, indi-
eating a consumption slightly smaller
As the consuming works were naturally
stopped about the holidays more than
the furnaces, the figures prove little
but bessemer and grey forge at Pitts
burg have not changed in price during
the past week, and slightly lower offers
of pig by southern and other new fur
naces at Chicago and eastern markets
have little effect. 1t is more significant
that the decline of prices for some
weeks in bars, plates and sheets has
been checked. Large orders have been
taken for these and other products ,inCii-
eating that the works in need of busi-
ness may have obtained enough for a
time.
Though prices of hemlock sole have
been reduced half q, cent, and of slit
and upper feathers, the boot and shoe
manufacturers are not yet inclined to
buy largely, as they are getting but a
small part of the contracts they need
at this season.
The jObbers still hold back as far as
they can and the slow yielding in hides
at Chicago increases expectation that
leather may further decline. But though
buying is very small, the works are
producing and delivering more than
ever before. Last year, the deliveries
from Boston were "a per cent larger
than in 1880, but this year thus far they
have been 19 per cent larger than last
year.
Failures for the week were 245 in the
United States, against PIT last year, and
SO in Canada, against 35 last year.