The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1902-10-04
PROSPECTS ARE BRIGHT.
Dist ribution of Merchandise Shows
No Diminution Says Dun

New York Oct. Ar. C. Dun & Co.'S
Weekly Review of Trade says:
Distribution of merchandise shows no
diminution and prospects are bright for
continued activity. Dealers in many
lines are urgent for prompt shipments,
calling upon jObbers and manufacturers
for goods already overdue Tt.ls lndica-
ton Of reduced stocks is good sign
and tends to sustain quotations. W est
ern reports are especially favorable, and
the early marketing of cotton mas
brought distinct Improvement at the
south. Voluntary advances IN wages
have been announced in a number OF
instances, while the labor situation IS
more satisfactory, although not entirety
free from controversy. Transportation
facilities have improved in the coke re
gi0n, where congestion was becoming
severe, and railway earnings thus far
reported for September exceed last
years by "a per cent.
Pig iron furnaces are receiving larger
cOnsignments of coke, and there Is less
interruption because of fuel scarcity.
The situation is by no means satisfac-
tory, however, and production of iron
and steel would expand considerably II
facilities were normal Much OF the re-
lief has come from large imports, the
extent Of which is not generally appre-
ciated. During August alone pig iron
imports were 79,44T tons and for eight
months 25I 30 tons, valued at $4,6l6.645
while receipts Of steel billets were worth
still more. Recently the purchases
abroad have extended to steel rails and
structural shapes. Quotations are fully
sustained on these products but the in
eCualities Of the market are shown by
declines in sheets, wire nails and barb
wire, while the tin plates are dull and
efforts are still being made TO retain
business abroad by special wage ar
engagements. 1t is interesting TO note
that a year ago tin plates were being
freely imported because of labor con-
trOversies.
Supplies of cotton goods do not ac-
emulate in first hands. the demand
continuing to keep pace with production
which holds prices steady. Few export
sales are reported, not through any lack
OF inquiries but owing TO the fact that
sellers will make no concessions. Wool
averaged slightly higher in sympathy
with the London sale. but further de-
clines occurred in hides and leather has
become dull New England shoe shops
have received large orders for winter
goods. assuring activity for two or three
months at some factories.
Strictly commercial failures during
the first nine months in the United
States for 1902 numbered 1875, with de-
fauited liabilities of SS5, 407, 490. Last
year there were S,0S3 failures, for $780,
$50. $50 In addition there were AZ fail
ures of banks and other financial insti-
tutions with liabilities of $40. 027, 19S,
against 81 in 1901. involving 81. 295. 554
While the exhibit is less satisfactory
than last years only one other year
during the past two decades made as
favorable a showing"
Bradstreet's says:
I'm the almost uniformly favorable
returns of nine months financial, COM
mercial and industrial operations the
only depressing note is the growing
acuteness of the coal situation. which
has passed out of local and state cog
nizance and become of national import
ance and interest. The relations of fail
ures, clearings and the other items
bearing upon the results Of the three
quarters of the years operations at
hand point TO conditions having been
largely favorable Activity in stock
speculation and comparison with a per
Tod a year ago. when deolorable occur
rences at Buffalo had thrown a damper