The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1901-02-23

q little this week, so that in the few
lines where complaint has been heard
locally Of late, the tone is better. This
comes from the working off Of retail
stocks which owners feared would have
to be carried over until next season In
builders hardware the buying has been
notably better and the distribution in
the grocery jobbing trade has been given
a considerable stimulus Even the lag
gard dry goods market has shown a good
measure Of improvement, though in cot
ton goods there is still much to be de-
sired, for the larger buying has not
brought any improvement IN general
tone and in some directions the market
is slower than a week ago
From the interior adVices are almost
uniformly favorable with a very heavy
movement OF general merchandise and
farm implements over the northwestern
railways Activity grows more pro-
nounced in wool sales at the three chief
eastern markets aggregating S,52S. 500
pounds for the last week, gainst 6,972,-
600 in the previous week, and 1888, 400
a month ago. Although transactions are
heavier than at any time il over a year,
the situation is far from satisfactory, as
each week brings a lower level of prices.
There is little evidence of a better de-
mand for goods, and while some holders
OF wool are sacrificing stocks in order
to make room for the new clip, the act
ual supply is not materially decreasing.
Purchases are larger because Of the feel
ing that prices must be neaI the bottom
and this impression is deepeaed by the
statements that the aver3 ge is down
to the point from which the good ad-
to that point by more than half q cent,
however, although a few grades are
nearer the price Of May 1, 1899, than the
general average Unless manufacturers
receive large orders and reduce excessive
stocks before supplies are augmented
by another clip IT is difficult to see why
prices should advance, even Il they are
at the level of two years ago.
The other large textile industry is in
not much better condition Instead of
being able to advance prices of cotton
goods in proportion TO the high quota
tons recently made for raw cotton, the
mills are meeting with light demand
and even at the reduction to cents
for print cloths there is no activity.
Many mills have already restricted OPP
erations and more viii stop spindles on
March l. When the raw material was
advanced to the highest price in ten
years it could not defy the law of supply
and demand and prices which ultimately
restore an equilibrium On Tuesday,
decline of 1915 a bale from the top
point had occurred, making It possible
to manufacture at profit, but this does
not help mills which have goods on hand
made from cotton purchased before the
fall to the lowest price In eight months.
Footwear is firmly held at unchanged
prices with good buying of spring lines
in the Boston market. Western trade is
less active and some orders have been
countermanded- Leather is drmer with
exceptionally large sales
No diminution appears in the move
ment of iron and steel products. Mills
are rushed with orders and new con-
tracts are taken at full prices. Pig iron
is freely bought and prices tend upward.
Billets and other partially manufactuI ed
forms are firmer and finished goods
would command higher prices if immed-
late delivery could be secured. Struct
ura1 shapes are still feature with large
operations pending in bridges and tracks
elevation. More coke ovens are added to
the active list, making the output much
heavier than at any recent cate. Lun-
Der and materials are in good demand
owing to extensive preparations for
spring building and at Buffalo there is
special activity on account Of hotels and
other work in connection with the ex-
position.
Grain markets are devoid of vide
fluctuations although many reports are
circulated regarding the condition OF
winter wheat. It is too early to secure
definite information and traders are not
Influenced by runors. News from IN
dia and Australia indicate a larger crop
than last years
Failures for the week were 253 in the
United States, against POI last year and
90 in Canada, against SO last year.