The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1903-08-08
IT IS PROMISING.
BradStreet's Review of the Bus
mess Situation.
East Feels Effect of Speculative
Liquidation.
PRICES GOING DOWN.
A Tendency to Decline Is Noted
ICES GOING DOWN.
A Tendency to Decline Is Noted
in Food Products.
More Western Buyers Than
There We're Last Year.

new Hork, Aug. S.-BradStreet'S says:
Summed up in a sentence, it may be
said that the past in trade and indus
try is satisfactorily secured, while the
future, despite some mainly sentimental
drawbacks, is highly promising. Divid-
ed geographically, it is to be noted that
the east feels the effect of speculative
liquidation. and the dulling effects on
manufacturing of high prices of raw
material, or of strikes, while the west
and south contemplate the prospects of
good yields of staple crops and remun-
erative prices for the same with conf
dence and even optimism. Staple
prices are drifting lower. Food products
certainly tend lower.
Other developments in actual trade
and manufacture are favorable There
are more buyers of dry goods and cloth
ing, hats, shoes and hardware in west
ern markets, and in nearly all lines
business is claimed to be equal to, or
In excess of, last year, so far The dry
goods season has opened well at New
YORK in all lines except cotton goods.
For the first time in weeks. something
approaching life is seen in the iron
trade. Sales of pig iron have been the
heaviest since the spring, some of this
being for the last quarter of the year
and some for next years delivery Other
4
lures are doing a large business, as
measured by eastern shipments and re-
ports that western, particularly st.
Louis, manufacturers have all that they
can handle
Railway earnings thus far reported
for the month of July indicate a gain
of IA per cent over the same month a
year ago, and therefore to this extent
are the best ever reported for that
month. Hides are easier and steam
] sizes Of 1nfhrq rite ona1 Lxpnpd nc
ceptibly. Refined sugar is in active de-
mand, the best weeks business so far
being reported. In addition to sales of
100000 tons of pig iron at Chicago, it is
noted that the tone of the Pittsburg is
better and finished steel products, nota-
bly, bar and structural, are more in de-
mand. Trade in merchant pipe, steel
sheets, wire and tin plates is claimed
to be better than last year. Lumber is
active at the west, but new enterprises
i involving its use at the east are report
ed held up by financial uncertainties.
Reports of car shortage troubles are in
creasing. the latest sufferer being the
western lumber trade.
business failures in the United States
during the week ending August num-
Der ISL against 100 last week, 169 in the
like week of 1902 1855 in 1901, 172 in 1900
and 15S in 1899. In Canada for the week
week and IA in this week a year ago"
r. G.. Dun & C.'s weekly review of
trade says:
Trade advices from nearly every sec
ton continue to show as favorable cor
| ditions as a year ago, and in many lines
! the volume of transactions have been
increased. Jobbers report fall business
opening with excellent prospects and
manufacturing plants are well occupied
with the exception of cotton mills. Dis
tribution of merchandise is so heavy
that railroad equipment already proves
inadequate, although crops are not the
factor that they will be in few weeks
| Earnings for July exceeded last year
by 12.7 per cent and those of 1901 by ~
per cent. On the whole, news from the
| farms is less favorable, but no serious
| curtailment is assured and many sec
lions make very bright reports. A de-
cline of 1.5 per cent in the cost of com
modities during July is evidence that
prices are less inflated, since the change
was mainly in meats and other foods,
which have been ruling at an abnormal
/ position Consumption of iron and steel
is on a large scale, and in many depatt-
ments the past week has witnessed the
signing of numerous contracts, but there
is q tendency to delay purchases beyond
early needs. This conservatism is not
surprising in view of the uncertainty re-
garding the security and financial mar
| kets to gether with considerable inter-
r11ption to structural work through la
bor controversies. The rate of consump-
ton and the moderate size of orders
however, indicate that stocks are run
ming low, which encouraged funacemen
and mill operators to hold quotations
fairly steady. A moderate tonnage of
pig iron has been ordered, and in partly
finished products, the best feature Just
now is the bidding of agricultural 1mple-
ment makers More pig iron was i'm
ported during July than anticipated and
4 German billets are still offered at Pitts
burg. but the domestic makers announce
their intention of meeting foreign COM
petition There is less pressure for tin
plates. the peculiar weather extending
the canning season and giving more
time for delivery of cans. There is a
full occupation in all branches of this
Industry. and in merchant pipe also the
mills have full order books for many
months.
mo change is noticed in the attitude
of cotton goods Buyers appear deter
mined to postpone business until the re
adjustment of prices for raw material.