The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1901-03-16

mills are preparing to curtail production
Heavy brown cottOns have been depress-
ed and reduced output Is probable IN
this division Aside from a little better
recorder business in light-Weights, reports
are not of an encoura ging nature from
the wooden mills. Further declines are
reported in wool, making material fall
since the month opened. At the last
elination to refuse bids, and there -
more Indication of steadiness than pre-
viously this season
After the long continued season OF
sagging prices for cotton, the market
seemed ready for a reaction, and Mr..
Neills circular was issued at what seem
ed to be propitious moment. But it fell
fiat in this country and the trifiing re-
tions Of visible supply Of only $50. 900
bales at the end of the crop year. and
requirements exceeding 100000 bales,
are not Endorsed by the course OF domeS-
tic spinners. who have materially re-
duced their taiings, or by the heavily
decreased foreign demand. Moreover the
estimate that the current yield would not
exceed 9s5Oo0O0 bales IS open to question,
in view of the amount already in sight
and the free movement at southel
points. The decline from the top price Of
the season now amounts to $16.25 per
bale, taking the quotation 81 below the
level a year ago. Prospects for a good
winter~yield are considered bright. OFF,
cial reports Of supplies on the farms
pared with last year, but a good Aain
over recent years prior to 1899.
Failures for the week We're 209 in the
United States against 100 last year. and
So in Canada, against % last year.
Bradstreets says:
The general situation Is without i'm
portant change. the events of the week
appearing to accentuate heretofore pre-
valling conditions. Distributive trade
and speculation in securities continue
large in volume with prices rising in
the more favored industries or droopfner
in those suffering from depression As
types Of these movements. the iron and
cotton goods industries are pre-eminent
and these two seem like opposite poles
so marked is the difference in trade in
feelings and conditions In most other
industries the reports are quite favor
able. notable in this direction being the
lumber, leather and hardware and i'm
plementS trades. Western and southern
distributive trade reports are quite ia
vorable and the reports of active de-
mand for dry goods and clothing at
the west contrast sharply with the re-
ports of duh business and the recedlng
prices of print cloths. bleacned cottOns
and other fabrics at first hands
Railway returns continue highly IA
Norable, confirming reports heretofore
published Of activity in general ship
ping. and reports Of a shortage Of cars
from Chicago and other large centers.
Ciearings are of heavy volume and in
this. as in nearly all other measures of
trade Improvement, present records sur
passing all previous recorded for this
season of the year.
Conditions in the domestic iron and
steel demand recall the boom of 1899
and 1t becomes more and more evident
that an enormous cOnSurnptive demand
discouraged by the high prices of a year
ago. il now coming freely into the
Prices rise as furnace stocks fan
and there are some who fear another
runaway market. Lest they should
make a mistake similar to that
OF two years ago the ore pro
ducers are holding back and have
not yet announced prices while the rise
Of pig iron makes their position stronger /
Bars and structural material are firm
and heavy hardware IS active and ad-
vancing- Foreign reports are as blue
as domestic advices are bright, but it is
worth noting that an enormous order
for pipes is reported captured by Amerf- !
cans, despite strenuous efforts by for
eigners.
Cotton goods are duh and dropping
at first hands, partly because Of the
steady decline in raw cotton, ~ cent on
spot for the week. and 216 cents from the 4
highest price reached on the present /
boom. but stil III cents over the low
price Of 1899. previous to that years rise. /
Print cloths are 5A cent Off for the
week and ~ cents Off from a year ago (
and talk Of curtailment grows louder. /
Low prices are, however. stimulating
export inquiry and some business is be- /
ing done for China Wool Is in larger /
sale and foreign markets are quite /
strong. Eastern stocks are said to be (
small and declining and the situation is /
gradually readJusting itself In the I
goods markets plain dress goods are +
moving steadily, while fancies are neg
lected- Fall sales Of mems wear goods /
have been disappointing.
The government report or wheat in
farmers hands. pointing to 1000. 900 I
bushels less held than a year ago was ]
as a bullish feature and count /
"a with light Northwestern receipts, /
caused a rise. which was, however. taken /
advantage Of to realize, and the net I
change for the week is slight Corn was 1
bulhshIy inclined early in sympathy i
with wheat. but weakened and lost most /
Dc the advance. There is less activity +
in leather at Boston and the larger buy 4
FRS are out Of the market While union l
sale Is little easier, some cheaper
grades are a cent drmer.