The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1903-02-28
never EQUALED.
The Scale on Which People Are
Consuming Product
Is Unprecedented in History Of
the Country.
DEMAND LEADS SUPPLY
In Many Cases as Shown by
Advancing Prices.
Increased Railroad Earnings
Predicted by Bradstreet.

New York. Feb. 2s.-R. G. Dun &
Co.'S Weekly Review of Trade says;
.'AIilder weather not only accelerated
the demand for many lines Of merchan-
disc, but relieved the pressure for fuel,
which threatened to become a serious
matter and incidentally facilitated eff
forts to reduce the freight congestion.
With no other retarding feature than
the holiday, business fully maintains its
gratifying position. Returns of both de-
nestle and foreign trade are fully equal
to those of the same month last year,
and in many cases there are marked
gains, The people are consuming on a
scale never before equaled as evidenced
by the enormous distribution and con-
tinual inquiries for prompt shipment
Firmly held quotations also bear testi-
mony to the fact that the demand is
often greater than the supply
Increased interest has been displayed
by purchasers of all products of iron
and steel. giving a decidedly firmer tone
to the market and in many instances
quotations have advanced. One of the
definite changes was q rise of 81 q ton
in wire products, which was not a sur
prise, and = new ore schedule averaging
over Is cents ton higher. This makes
every step of the process more expen-
sIVe to the independent producer; ore,
pig iron, coke, wages and freights haV-
ing reached a higher position. To the
+ leading producer, however the situation
is less disturbing, as most of these fac
tors are under one control, and It VIII
be possible to hold prices of finished steel
at a fairly conservative position.
"A very heavy tonnage of pipe has
been moved on old orders, and consid-
cradle business is reported. Few addi-
tionaI advances have occurred in quo
tations of cotton goods, the develop
ments Of the week being chiefly in the
direction of establishing the market on
the higher basis that was suggested by
earlier spasmodic advances. There is
more conservatism on the part of the
/ buyers. Business il Woolens has fallen
/ off unexpectedly, some early buyers re-
ducing the size of their initial orders.
while in few exceptional cases there
have been complete cancellations.
This change of front is attrib-
uted to the fact that manufac-
turers have not held to opening prices
New England shoe shops have Sc
cured moderate advances in several
grades of footwear, chiefly of fall styles
/ in demand by western buyers. Other
divisions are very firm and the entire
market exhibits an upward tendency.
4 Quotations of leather are fully main
4 tained although trade is quiet. Foreign
dry hides are strong but inactive, ow-
ing to light stock, and restricted ar
rivals.
Failures this week numbered 211 in
the United States. against 215 last year.
and % in Canada, compared with IS a
year ago"
Bradstreets says:
'.Springlixe weather conditions have
enlarged the jObbing demand for goods
at leading markets and favored expan-
sion in retail trade except where the
brea king up of country roads has oper-
ated to restrict the movement of grain
and cotton to market. Building activity
/ has been quite generally resumed, with
more favorable conditions. Heavy rains
ia the southwest have quoted trade and
retarded crop preparations in that sec
/ ton. Perhaps the most notable feature
of the weeks developments is the
strength of the price situation. this not
merely with regard to producers and
manufacturers quotations., but also as
to rates paid by final consumers The
one debatable element in the 1903 spring
trade outlook has heretofore been the
/ uncertainty as to how the higher level
of prices would act upon consumptive
demand This situation is apparently
sowing itself with aStOnishingly little
friction. Transportation lines have been
rather favored by open weather condl-
lions this year, as compared with Feb
/ ruary, a year ago, and large aggregate
+ gains in earnings for the month are
/ predicted. The coke situation, however.
is still a subject of complaint Another
/ evidence of railroad congestion is found
in the reports that large quantity OF
winter wheat still remains to come for
ward
Notable developments in prices Of
4 primary staples are 6rlner tone Ii
pig iron, at home and abroad, advances
7 in prices Of iron and steel bars. wire and
nails. the highest price paid for raw
cotton in three years, continuance il
the advance of copper which places
that metal at the highest point for ovea
a year past. and renewal OF the ad-
vance in tin. which places that metal
well above the level of several years
With these exceptions other staples have