The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1901-09-21
MUCH LATENT POWER
Still Held in Reserve by Bust
ness World Says Dun g. Co.

UNIVERSAL sorrow placed a canning
hand on the rush and turmoil of the
market place. Everything that could
be conveniently postponed was put
aside out Of respect for the man whose
life was devoted to developing the Won
derful activity in all branches of trade
and industry. Exchanges suspended
operations for two days, and the distri-
button Of merchandise was in many
cases limited to immediate require
ments. Mercantile payments continue
prompt, but il was to be expected that
bank exchanges would show the Gus
tolnary heavy gains over previous
years. At leading cities outside of New
York there was a gain OF per cent
over 1900 and a loss of per cent from
1899. Yet prices were stronger, and
there We're many indications of great
latent power that may be expected to
appear as normal conditions return.
After two months of controversy at
the steel mills a settlement has been
reached. Although the terms are not
entirely satisfactory to the Amalga-
mated association, and there is much
complaint among the men regarding
the conduct of the strike, mana gers are
confident that the outcome means no
further interruption to work for G. long
period, and there is hope of making up
for much of the delay by operating
overtime. In preparing for an excep-
tiOnally active year in 1902, some of
the largest mills are to double their ca
paclty- Fictitious prices disappear
with the prospect Of full production,
but it viii be some time before immed-
late deliveries are made at list figures.
Meanwhile, the pig iron market revives
at the assurance of heavy consumption,
and southern furnaces are already ask
ing higher quotations.
"Forwardings of fall footwear to the
west and south have about ceased with
1f4V mr. h4rf dino
are still engaged in turning out goods
for jODbing at eastern cities. Quota
lions for shoes are unchanged though
there is a general advance of 215 to
cents on boots. Abundance of work in
prospect has made operators more anx-
ious to secure material and the leather
market averages about one-half cent
higher.
week was the phenomenal movement OF
mourning goods which advanced in
price as the available supply was re-
duced. Mills having stocks of crepe
and bunting were able to dispose of
everything on hand and large ship
ments went west OF standard staples
the supply in first hands is light and
supplementary orders arrive freely
Export buying of brown goods is not
heavy and domestic orders only fair.
Prices are firm and holders offer no
concessions. Print cloths are steady at
the recent advance to cents and
strong unQ6IIOne throughout All lines
of cottons promises we'll for the future.
Some strength was given the raw ma
terials by fears of frost and reports of
heavy rains. Wooden goods remain firm
but quiet while the wool market IS
hardened by advances at the London
auction sale.
Corn has met with another. setback.
After passing through the vicissitudes
Of heat and drouth, which curtailed the
crop severely, Notwithstanding an UNI
usually large acreage, it was subjected
to the other extreme of temperature.
How much injury was done by frost can
not yet be determined, but it forced
prices to an extremely high price Tues
day. 1t was not possible to retain all
the advance, and there was evidence of
much manipulation during the move
ment One result of inflated quotations
was further reduction in exports from
the Atlantic coast to 290S0l bushels,
against 1,51S, $50 a year ago and BIS
215 IN 1899. Wheat is stronger. with less
speculative support and more actual
cash demand. Shipments abroad con-
tinue heavy, despite much interruption
during the past week, amounting to
4O33, 455 bushels, against 3,219,211 last
year and 8, 242. T64 two years ago
Failures for the week numbered 157
in the United States against 211 last
year, and &c in Canada against 80 last
year."
BRADSTREET'S.
New York. Sept. 1.-Bradstreet's
saws:
THE sad events of the week have nat
urally been depressing features, even on
days when the sense of national be-
reavement did not seek expression in
total or partial suspension of all but the
absolutely necessary activities The re-
duced figures of sales of products or Sc
curities dealt in speculatively and the
lessened volume of bank clearings were
among the most prompt measures Of
the repression under which the business
world has labored, but the course Of
prices of nearly all stocks and staples
shows that repression and not depres-
sion is the word to express the steadi-
ness and confidence with which the
commercial and financial world await
ed and received the change in execu-
tives though not in government, entail
ed by the 1amentable occurrence of two
weeks ago.
, among the more favorable Of the
purely commercial or industrial fea-
lures of the week have been the con-
tinuance Of the good demand from
jObbers the very heavy shipments of
goods with which to fill these demands,
the better call for goods at retail, in
duced by the arrival Of cool, fall
weather ard last, but not least, the
settlement of the steel strike, which re-
stores at least 0,O00 men to their work
The unfavora BILE features are few, the
most notable being the advances of the
arrival Of heavy frosts in the corn belt,
affecting, however. only the latest
planted product The strength of corn
has been, indeed, the feature of the
cereal markets. and has been shared In,
by other grains, though realizing later
cut down some of the gains noted
earlier Cottons alone of all the leading
staples showed irregularity, advancing
early but weakening in the middle of
the week, on poor cables, and, despite
crop reports again firming toward the
close on a repetition of late reports and
a rather better tone abroad
THE resumption Of work in the hoop,
sheet tin plate and tube mills has been
a feature Of the week The loss in wages
to the men as a. result of two months
of idleness is estimated at $40 200. 600,
and the ecnss earnings of the com