The Topeka state journal., 1903-05-02
UNSETTLING
ELEMENTS.
Weather Conditions and Labor
Disturbances
Temporarily Interfere With the
Industrial Situation.
RAILWAY EARNINGS
Continue to Show Increase Over
Last Year.
Low Stock and High Prices on
White Pine.

New York, May 2.-Bradstreet's
says:
Weather conditions and labor dis
turbances, actual or threatened. have
been temporarily unsettling elements in
the trade and industrial situation this
week, but great basic elements. such
as general business and crop conditions
remain largely favorable. Cold wealth
er and snow in the west have checked
farm work, interfered with detail dis
tribution and retarded recorders.
Wholesale trade is seasonably quiet.
though some sharp contrasts are shown
in different branches of the same trade.
The pig iron market is generally dull,
with prices weakening, but steel and
finished product generally are eagerly
sought and very firm.
In the textile trade the strike of
Lowell cotton goods employees still con-
tinues, while the abnormal condition of
prices checks large operations. Raw
material is lower, largely in sympathy
with the quieter tone of business for
mems wear goods for fall delivery. The
outward movement of corn is IncreaS-
ing, but exports of flour this week are
smaller than last week and this week a
year ago
'tAn the usual measures of trade vol
ume testify to the generally satisfactory
4 ings for the first three weeks of April
/ promise to exceed those of a year ago
/ by IA per cent. and the net returns so
far received for March are extremely
/ favorable.
pig iron has been dull at most mar
kets except Pittsburg, where a heavy
movement is reported. This IS attrlD-
uted to some slight price concessions
Bessemer pig iron being quoted at %
cents lower than a week ago Foundry
pig iron at the west is reported dull
and weak in tone, and the same IS true
Of southern iron. When steel and the
finished products of iron are considered
however, a notable difference is found.
Steel billets are apparently as scarce as
| ever and structural material plates,
sheet bars and rails are in active re-
quest at firm prices.
Some other metals are weaker. lead
being marked down 30 cents per 100
pounds, and copper is also lower. botn
at home and abroad. but silver has
reached the highest price in two years.
owing to the recent purchases for the
Philippine coinage purposes, and pros
poets Of currency reform in Mexico.
Labor disturbances. particularly in
/ the building trades, have been an un-
settling feature in the lumber trade this
week, but the volume of business in this
line shows no shrinkage. Shoe manu-
featuring is an active industry at pres
ent-
R. G. Dun & Co.'S Weekly Review Of
Trade says:
AT the leading cities high tempera-
/ ture has stimulated the distribution of
4 dry YgOods jobbers and commission
houses report only a fair trade. Lead
ing manufacturing lines are active. ex-
cent for some hesitancv at textile mills
In iron and steel. footwear furniture.
/ harness and clothing there is little idle
| machinery. Structural work is VigOr-
ously prosecuted and supplies of build
ing material are not allowed to accllp1l1-
I late. EnPPi9I of fha whit G
pine situation by correspondents of this
! paper shows low stocks and high prices
although the seasons cut was large.
Mercantile payments are fairly
prompt, yet there is less disposition to
anticipate payments for cash discount,
as frequently occurred last year. Rail-
way earnings for April were 1872 per
cent larger than last year and 27.6 per
cent in excess of 1901
Deliveries of coke on old contracts
are now so large that reselling frequent
~ occurs and, insofar as the fuel ques-
ton is concerned, there appears no
prospect of interruption. while it is
difficult to maintain quotations of Con-
nellsville coke. An unusually heavy ore
tonnage has been arranged to lower
lake ports, preparations indicating that
no diminution in iron and steel activity
is anticipated.
Disparity continues between current
prices and quotations on deliveries dur
ing the closing months of the year, sales
of Bessemer pig iron for late shipment
being recorded at $19 valley furnace.
Billets remain the prominent feature,
domestic stocks failing to meet de-
mands, and efforts to secure imports
have met with success, German sellers
accepting large contracts. In addition
to urgent railway demands for heavy
steel, there is a steady inquiry for
structural shapes to be used in the erec-
ton of new buildings. while pipe mills
report much new business and in agri-
cultural implements there is no lack Of
orders.
s.Tinplate and wire mills enjoy season
able activity. Machinery and hardware
lines are well employed and aside from
pending labor controversies the condi-
ton of the iron and steel industry as q
whole is most satisfactory.
lowing to the inadequate supply OF