The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1900-03-03
COTTON is. KING.
Leads All Other Commodities in the
Advance of Prices

=
New York, March 3.-R. G. Dun &
Co.'S Weekly Review of Trade says:
- BESIDES the So1 commercial failures for
there were in February six banking fail
pointed for the United States Flour Mill
ing company with SIS, GOO. GOO of stock and
ganization last April and for the Third
Avenue Railway company after liens for
several millions had been placed upon the
property. Unless separated from such
events, commercial failures could not be
compared with benefit. The manufact FUR
ing failures for s, Psi, 638 were larger than
in February of 1896 or 1895, but more than
half the amount was in two classes, four
large lumber and one clothing failure
making thirty-six per cent of the whole
The trading failures were larger than in
cent of these defaults We're made in five
failures. In most branches the COMPARE
son with previous years is encouraG ing
and analysis brings out in strong light the
remarkably low average of liabilities in
the smaller failures which constitute the
great majority indicating sound business
conditions and unusually satisfactory col
lectionS. The rise of cotton to 91% cents,
the highest point since January, 1898, has
done much to stimulate business drawing
from southern plantations and country
towns more than double the quantity
to producers whose purchases of supplies
are thus increased and swelling beyond
all expectation, the purchase for export.
Heavy Selnng OF cotton py people VINO mad
placed them quite at the mercy of holders
But the markets both for goods and for
cotton have been affected all over the
world, and the country will reap some
exports over imports. The market for
goods has been pushed to greater activ-
ity, though they have risen only three per
cent since the year began, while the ma
terial has risen over % per cent.
in South Africa caused nearly all business
TO be forgotten, changes in the stock
the rise of cotton. 1t was revelation
of the appreciation of which American
TTdngEy sGeb5 h hth Thrd see h
falling to 80 and flour milling dismissed
to the hands of receivers.
The small rise in wheat last week all
though the price is quite low, sufficed to
call from the farms such receipts 4105,-
661 bushels against 2,195,437 bushels last
year, as to indicate that supplies are not
nearly exhausted. Exports from Atlantic
included only 1S12, 3o6 bushels against
4,069,9S bushels last year, and in four
been il $500, against f4S2s s7s Bushels teE
Though exports run behind last years,
which were almost unequalled, they have
already exceeded in eight months those of
most full years, and the. exports of corn
in four weeks, 1,774,645 bushels, against
L. 051. 053 bushels last year, explain much
of the difficulty, corn rising three-quar-
tiers of a cent during the week, while
wheat declined IA cents
The iron and steel industry continues
the t.fh;,g greatest weekly ever known, even
Prices of pig yield a little. some sales of
|
for $24, and anthracite number one is
quoted here at $3.50. Billets have been
sold at $685. at Pittsburg. For most fin
ished products prices are stronger than
| a week ago, or as strong, bars and sheets
being strengthened by large business,
while only plates appear. weaker. 21e be-
ing quoted for. sizes not the widest. Coke
is scarce and higher in spite of the larg-
est output ever known and the wages Of
hands have been raised 1914 per cent to
The decline in hides at Chicago con-
tlnueS, having been over two per cent the
past week and nine per cent from the
highest point in December. Leather has
defined only 3 per cent from the highest
| point and part of that only in exception
| ally large transaction, presumably meant
to be private. Boots and shoes have
yielded very little, and many dealers end
| ed their eastern trip without buying and
intend to wait until April, as they did
than the price asked in February. Yet
| shipments on past orders have been in
February 3S5,214 cases, about $4,000 more
than in 1898, or any other year.
Failure for the week have been 90 in
! the United States against 1856 last wear
and Is in Canada against At last year.