The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1902-09-20
CAN'T STOP 1T.
High Rates for Money Fail to Stop
Growth Of Trade.

New York, Sept. 20.-R- G. Dun &
Co.'S Weekly Review of Trade says:
Domestic trade continues favorable,
higher rates for money having thus tar
failed to check industrial operations or
unsettle confidence. 6tringency is con-
sidered only temporary and chiefly Of
Importance to spectators while large
imports OF gold promise relief. Crops
are making encouraging progress de-
spite some injury from frost. Labor dis
putes are few, the anthracite strike be-
ing the only one that retards progress
and each week shows some increase In
output. Fail distributors of merchan-
disc has begun unusually early, Wnlle
the volume of orders already placed In
dicates much the heaviest aggregate on
record. At the south and west condi-
tions are especially favorable, shipping
departments working vigorously ana
payments are promptly made. Tramc
congestion causes complaints yet rail-
way earnings thus far available Tor
September show gain of AZ per cent
over last years returns and 1871 per
cent over 1900.
"Oficial returns of foreign commerce
during August show the Improvement
in exports over the two preceding
months that was indicated by weekly
movement of merchandise and staples
and imports far surpassed the CORE
spending month in preceding years.
This liberal buying in foreign markets
testifee to well sustained domestic con-
sumption practically as to iron and steel
but imports of coal are normal ana Will
be still more of an element in subse-
Quent statements.
Relief comes slowly to consumers Of
COKE although each week brings new
high record of output Stocks are pc
coming burdensome in the Connells-
Vile yard but facilities for transporta-
ton show little Improvement despite nu-
merOus promises that coke shall nave
1f6
worst of it is the Increasing imDorta-
ton OF pig iron, Great Britain alone
sending 10000 tons during August, while
arrangements are now being made for
remote deliveries. Steel Is also coming
in freely, German producers accepting
orders at gradually advanced quota
lions. Estimates of the tonnage on the
books of the leading domestic concerns
deliveries nine months ahead, while
new contracts for railway and structu-
raj shape are constantly offered. The
abnormal condition of this industry
bears testimony to the unprecedented
expansion of business in the United
States and it is unfortunate that such
heavy purchases abroad are made nee
essary by the inadequate supply of fuel.
Recent advances in tin and copper were
not maintained, supplies proving fully
equal to demands.
New England manufacturers of foot
wear are well occupied, new business
orders are filled in many cases, SO that
activity is assured we'll into the future.
Leather is quiet with no sign of weak
ness, but large receipts of cattle at
western markets caused slight reduc-
ton in prices of packer hides from the
record breaking figures that have pre-
vailed. Cotton goods are more firmly
held as the raw material develops
strength and light stocks in first hands
give the market additional support.
Woolens and worsteds are notably quiet
because leading concerns have sold
their entire product of staple goods.
Failures for the week humber 199 in
| the United States, against 157 last year.
and rs in Canada. compared with 20
year ago."
Bradstreet's SAYS:
"Jobbing distribution continues very
active and retail business is improving.
| Now that the corn crop is practically
made and the only possible changes are
| those of quality, the disposition to book
| fall and winter orders is unrestrained
at the west and northwest. At the south
| the tone Of trade reports Is notably
cheerful largely owing to higher cotton
prices because crop accounts are not so
| favorable as week ago. Collections
are, as whole, good, and the consensus
| of reports as to this and as to money
conditions point to good supplies of the
| circulating medium in this country at
large. Whatever stringency is noted.
condition usual at this time. Is limited
speculation. The claim is made that
| plenty of money in the interior. and,
indeed at all centers. for ordinary pur-
poses is available.
1.-The selling position seems to be the
| strongest side of the price situation,
except possibly in the cereals and agri-
| cultural products generally. Even here
| the fine financial position of farmers
enables them to market their products
| slowly and no accumulation of moment
| Is recorded except in cattle receipts,
which this week surpassed all records.
Notable strength is exhibited in manu-
| featured goods, the textiles leading in
| volume of demand and in strength of
prices, keeping with advances or firni-
| ness in the raw materials. A large
distribution of cotton goods is going on
| at the west. and the firmness in the
| eastern trade is notable. in view of the
| relatively quieter tone of demand.
| Wooden goods are firm and the mills
are actively employed. The coal situa-
| ending OF the anthracite coal strike
| throws increased pressure on the btu
minous product, and prices for that
| article are now at least one-uuarter
| higher than the low point before the
strike began. Anthracite production is
| slowly but surely increasing, as more
| mines and miners go to work. but the
| necessities of some retail buyers make
| for fancy prices for what is left A
long season at full time will be neces-
sary to restore stocks of anthracite to
/ Olu 0lfHenS10lS.
| Hides have eased in price partly be-
| cause of this and also because of tin
ners suspending work, owing to unprof-
liable business in the finished material.
Leather is as strong as ever, however.
because the shoe business is good, be-
ing best at the west. Lumber is active
as heretofore and the strength of prices
| is notable. hardwoods being specially
| strong.
There has been slight easing of the
| car famine as to coke and coal supplies
| and the furnace situation in the valleys
is therefore bettered, but the eastern
| mills are complaining of delayed sup
| plies Foreign iron and steel are reap
| ing the benefit, and the European in
vasion of iron has now reached the
Mississippi. British pig iron for quick
delivery is selling freely at Pittsbure
and Chicago. Foreign steel Is being
bought for mills in the central west and
large quantities of rails, these for next
years delivery, are being bought
abroad In finished products exporf