The Topeka state journal., 1903-01-17
MISSING LINK
IS SUPPLIED.
The Only Element Lacking in
National Prosperity
Was an Expansion in the COun-
try's Export Trade.
THIS HAS NOW COME.
December Was Beyond Reason
able Expectations.
And January So Far Is Ex-
tremeIy Encouraging.

New York. Jan. -Bradstreets says:
with the much-needed expansion il
export trade now actively in evidence,
one of the few important missing ele~
ments of national prosperity has been
supplied. Export trade in December
proved to be better than anticipated,
and SO far in January only encourag-
ing elements have developed. The do
mestic situation also gains rather than
loses in strength. While regular spring
trade can hardly be said to have opened
activity is steadily increasing. The vol
une of shipments of spring goods is evil
dence of the desire Of consumers and
distributors to obtain possession OF
goods early. Retail trade in winter
goods has been maintained at a good
volume by the very generally diffused
lower temperature. In only few scat
tered instances IS there any complaint
of retail stocks being at all heavy. Con-
fidence in a heavy spring business in
creaseS as that season approaches. All
of the industries remain exceptionally
active, the possible exception to this
being where shortages in fuel, due to
railway congestion, limits production,
as in the case of soft coal and coke ia
the west.
THE strength of leading agricultural
staples. notably wheat, corn and oat-
among the cereals, cotton among the
textiles. and hog products among pro-
visions. has been the feature of the
nrice situation.
Cotton has shown little or no di-
minution of strength. Export business
continues very heavy, and the price of
the manufactured material shows an
upward tendency Wool is strong and
available supplies are closely held. Ma
chinery is well employed on spring and
summer goods for mems wear. Despite
much semi -bearish talk and holding off
fha fr4r,v~ 4 eS74, 80
loses little of it's strength. 1t is noted
also that foreign markets are, on the
whole. drmer.
Structural material, bars and plates
appear in active demand, though fancy
premiums for the first mentioned have
disappeared. The coke situation does
not better much in the central west.
Buyers OF iron are reported backward
in coming forward for large business,
but are eager enough takers of current
supplies. Apparently the expectation
that the spring will see lower prices is
still firm, but current demand involves
considerable buying from time to time.
Agricultural implement manufacturers
bought freely of steel bars at Pittsburg.
Higher prices on wire products do not
check business in this line.
Lumber notes cOnsiderab BILE interest
and activity for an ordinarily dull
period.
THE great mass of staple prices gen
orally maintain undiminished strength,
which are quoted a trifie higher. and
leather, which is firm at prevailing
quotations. Copper holds nearly all of
the advance it recently gained despite
bearish statistical features. Eastern
shoe shipments show slight gains from
a year ago and manufacturers are quite
busy, though complaints of the small
margin of profits are still universal"
r. G. Dun & Co.'S weekly review of
trade says:
Fuel shortage is still the one SER
iously disturbing element in the indus
trial situation Transporting facilities
have been diverted from other mer-
chandise. to the disadvantage Of ship
pers, yet iron furnaces are unable to
secure supplies of coke and many 9th
er manufacturing plants are closed be-
cause of inadequate coal deliveries.
Mines are more fully operated, but
there is no prospect of normal condis
tfcns until spring. Extremely low
temperature during the past week
stimulated distribution of heavy cloth
ing and other SeaSonable goods. Retail
trade was accelerated by the custom
ary clearance sales, especially in dry
goods and kindred branches Travel
ing men are sending in large orders for
spring goods, the volume of advance
business surprising the customary
amount for this time of year.
Quiet conditions in the iron and steel
markets do not mean dullness or di-
minishing consumption, but merely the
mills, together with great uncertainty
about keeping plants active on a day
to day supply of fuel. Inquiries are
numerous, especially in structural lines,
but makers are not ready to accept
bids until the future appears more
definite. New plans constantly come
forward for large Office buildings, no
tably at the west. which means vigorous
consumption of structural steel, and the
demands from car builders are phenon-
email Practically the entire capacity OF
the leading plants is already booked for
six months and at many concerns the
ness unless orders are Cancelled
Eastern manufacturers of footwear
are fully employed on spring shoes, but
now orders are light for later delivery.
although western jobbers purchase free
" of fall samples. Quiet conditions in
leather have been succeeded by an in
creased demand for hemlock sole and
standard upper. shoe manufacturers