The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1903-12-26
MORE IOLENESS.
More StOppage of Manufactur-
ing Than for Years.
Many Lay Offs for Inventories
and Repairs.
EXCEED LAST YEARS.
Railway Traffic Shows a Gain of
Six Per Cent.
Failures Show an Increase Over
Week of '92.

New York Dec. 26.-R- G. Dun &
Co.'S Weekly Review of trade says:
Holiday conditions pervaded the
markets and most of the exchanges are
closed until Monday. Manufacturing
plants are stopping for inventories and
repairs, in many cases the extent of
idleness being considerably greater than
for the corresponding season in recent
preceding years. There has been a lib
eral volume of business in holiday
goods, but reports are somewhat con-
fiicting in comparison with 1902. An
encouraging sign is the Improvement in
collections.
Railway traffic was not seriously i'm
peded by recent storms owing to better
methods OF operation, and earnings thus
far reported for December exceed last
years by per cent. Agreements are
being made by little friction as to wage
reductions except in the case of coal
mining, and several idle plants have
fixed the date for reSuming work.
Few labor disputes are in progress
and steel producers look for much new
business early next month.
'Enga gementS of gold were checked
by sharp recovery in foreign ex-
change, although receipts have raised
treasury gold holdings far above all
previous records and money is unusual
ly easy for the season.
ton, bank exchanges for the week
were 1877 per cent smaller than a year
ago at New York, while at other lead
ing cities there was a gain of per
cent.
Leading interests he iron and
steel industry brougl Aore stability
to the situation by deciding against
any further reduction in quotations,
and there are numerous indications
that prospective purchasers do not in
1-1. -a<-fc md
the season of inventories and repairs.
Expressions of opinion are heard in
many prominent markets that orders
will begin to appear about the middle
of January, and liberal volume of
business will be placed for work to be
done early in 1904.
"Shoe shops are receiving few new
orders, and there is little effort at
present to increase activity. Eastern
Wholesalers are more cautious regard
ing additional contracts for spring
lines, but western jobbers are seeking
supplies literally.
conservatism is still the leading
characteristic in every department OF
steadily curtailing output and find 1t
impossible to secure advances in fin
ished product commensurate with the
rise in raw material. Purchasers OF
cotton take only for urgent needs and
refuse to pay the quotations asked for
distant deliveries. No demand for China
is seen and the export division is doing
nothing prices being we'll beyond the
views of foreign customers. Cotton
has again risen above all records for
quarter of a century, and fluctuations
of 81 so a bale in a single session are
no longer considered exceptional, while
option trading of a million bales daily
is not unusual. Few cash sales are
reported and the planters are not re-
ceiving 500 for their cotton, yet the
mills that have no raw material on
hand will be forced to pay the prices
or else stop work. Exports have con-
tinued on a liberal scale.
Grain moved within narrow limits.
no special news appearing other than
new record for wheat production in
Australia. Prices are firm.
Failures this week aggregated 2S4
in the United States. against 209 last
year, and % in Canada, compared with
81 a year ago"