The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1901-04-13
REVIEW OF TRADE.
Speculation in Metals and Foodstufs
Very Heavy.

Very Heavy.
New York, April 1s.-Dun's Weekly
Review says:
The tone of general business has been
/ better this week Marked activity in the
distribution Of merchandise is reflected
| clearingS at New York compared with
1900 and 20.8 per cent over 1899, with
! gains of IS 5 and 10. for the same periods
at leading cities outside New York.
nounced gain. Activity in the metals
division has taken pig iron production
to record figures and some dealers do not
see how production of partly finished
forms this year is to be made to meet
the demand. The government report Of
the condition of wheat on April is the
SureSt possible basis upon which ex-
pectation of continued commercial pros
perity could be founded. Stringency of
money is largely local in New York and
does not alter reports from most of the
larger cities of favorable conditions in
collections Railroad earnings in March
were IA per cent larger than last year
and 32.4 per cent over 1899 according to
practically complete returns.
Pig iron production on April 1, accord
ing to the Iron Age, was at the rate Of
296,676 tons weekly. This quantity has
been exceeded twice in the history of the
industry, on December I, 1899, when
296.959 tons were produced and on Feb
ruary 1, 1900, when the output was $685.,
Ola tons. The remarkable feature of the
furnace stocks during March in the face
OF this enormous production, while IN
six months the loss in supplies amounted
TO z05656 tons Quotations are generally
steady for all forms, except plates, on
which 81 a ton more is demanded with
out restricting purchases. New contracts
for delivery of pig iron do not as a rule
extend beyond this month, and furnace
stock can not be expected to continue
unless new business comes forward, for
many furnaces have gone into blast
q n nd
on May 1 will probably be at a new
high record.
Speculation has been unusually heavy
in foodstuffs, the local market averag-
daily. Prices receded sharply from top
point of two weeks ago, wheat losing
about cents for spot. Realizing sales
were accelerated by expectation Of
high per centa9e of winter wheat con-
dftlon in the official report Two etc
ments Of strength appeared 10 check the
decline and caused some recovery. In
sects We're reported numerous in the
southwestern section, and foreign buy
ing was sufficient to make Atlantic ex-
pores. flour included, 6,732,000 bushels in
two weeks, against {, 1912, S57 last year
and 3,890.5S0 in 1853.
Corn receipts bore support by maniO-
ulatiOn and lighter interior receipts. The
large increase in hog packing at the
west as compared with last years fig
ures probably accounts for the first sign
of pronounced weakness in pork pro-
ducts
Large producers of footwear in NV
England are still doing a good business,
with sufficient orders to insure full time
at the shops for a month or more. tx
pected concessions in prices by smaller
mai. ers have commenced, moderate
large contracts for split, kip and grain
boots being secured at "a cents reduc-
ton. Shipments from Boston continue
to show a good gain over last years fig
ures.
In the face of recent reductions in
prices Of rubber goods, the raw material
has advanced Sc cents.
Textile fabrics are in better position,
although improvement is slight and con-
fined to a few special lines. At eastern
wool markets manufa cturerS have ia
ken sufficient new material of late to
indicate better orders for goods. and
news from the West suggests that ranch
owners are going to hold for better
prices than now prevail. In the cotton
goods division there has been more buy
ing for China, while spring dry goOds
opening makes -encorl a cling exhibits
The raw material lost most Of acst
weeks gain, spectators making no re-
sistence to the weakening influence OF
larger receipts and lighter exports than
a year ago.
In silk goods more activity is reported,
and another trifiing advance occurred IN
raw materials
Failures for the week number 2a3 in
the United States. against 1913 last year,
and "a in Canada, against Al last year.