The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1900-09-22
SHADOW OF THE STRIKE
Has Fallen Across Business in the
East

New York, Sept. Pr G. Dun &
COmpany's Weekly Review OF Trade
says:
The strike n the anthracite coal re-
gion. which has involved about 120. 600
miners. and probably so. 900 others. is the
overshadOwing influence in business
This conflict disturbs business and in
terferes with calculations OF merchants
over a large part of the Atlantic sea-
board. and Is really the only tangible
check to the general recovery which set
in with the larger demand for iron and
steel products. Outside of the anthra-
cite industry enforced idleness Of hands
is an exception and even in the Penn
sylvania coal region other employers
would gladly take on thousands OF more
intelligent miners
The DOscher sugar refinery closed
down on account of the scarcity of raw
sugar; Of which all refiners are esti-
mated to hold only 10000 tons, but the
Lorain Steel company, idle three
months. IS starting its furnaces. with
others to follow Hesitation incident to
the presidential campaign is reflected in
decreased bank clearings
Wheat advanced sharply to SO cents on
wednesday. helped by gloomy reports
from growing districts and free pur-
chases at northwest elevators. Sensa-
tional gains in prices stopped foreign
buying. which led TO heavy liquidation
and reaction almost as large as the
previous movement
Cotton has felt the loss Of consump-
ton declining heavily both in spot quo
tatlons and option trading Brighter
crop news from Texas also had a de-
pressing effect The cotton goods mar
ket FOR a few days continued the strong
movement OF last week. but closed less
excited, though bare Of goods at first
hands Heavy curtailment of produc-
non IS still the rule Standard brown
SheetngS again advanced &c with 9th
er goods following
Sales Of wool at the three chief mar
kets We're only 2.Sl1.ee0 pounds. against
1S,44S-SV0 pounds a year ago. Holders
continue confident. and dullness fails TO
cause lower prices Foreign conditions
are unsatisfactory. especially in France,
but fair prices are expected at the Lon
don sales next month
In iron and steel products greater ac-
t1v1ty at former prices was the rule
New contracts were for moderate
amounts, but a large order for malIea he
Bessemer pig iron at southern points
makes the outlook more encouraging
and a Scotch concern is only prevented
from closing a very large contract for
billets by the high ocean freight rates
IN prevalence The break in Scotch pig
iron warrants had an interesting signifi-
canee- Puddlers and bar rollers are still
waiting their turn for wage settlement
Orders for railroad equipment for Sen
TENDER are expected to include fully
eight thousand freight cars A sharp
break IN tin was aided by heavy shin
ments rom the straits Lumber is in a
stronger position, spruce selling at So IS
Per LOCO, an advance of % per cent for
the month
Failures for the week were 911 in the
United States. against 154 last wear. and
80 in Canada against Is last year.
BradStreet's says. A more decidedly
reactionary disposition showed itself in
speculation this week Prices were de-
cidedly weak last Saturday and tho,1sl,
support was extended to the market on
Monday and Tuesday and the short in
tereSt covered contracts rather extern
sively on those days, the Improvement
was sliSht and the tone continued to be
nervous The developments in connec-
ton with the strike of anthracite coal
miners. while inconc1uSive as to the
question Of a general stoppage in that
industry seemed to Wall street to point
e long and possibly troublesome
struggle with labor. and the market also
takes INTO consideration not only the
chances or an extension of labor dis
turbances to other trades but the ef-
1ects of such circumstances on the DO
Htieal situation Indeed. politics is now
receiving degree OF attention on the
part OF the speculative community
with the Indifference about the presi-
Dental contest that has heretofore pre-
vailed The uncertainty attending the
contest in November IS receiving con-
EideTation. and naturally produces ad-
dftiOnal conservatism on the part of the
financial houses and stock market gen
orally.