The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1903-01-03
PRICES STRONG.
New Year Opens With Staples
at Firm Figures.
Bradstreet Regards 1t as Fore
cast of Good Year.
SHORTAGE OF FUEL
Continues to Aggravate the
Transportation Difficulties.
Higher Freight Rates Are Be-
coming a Factor in Trade.

New York. Jan. s-Bradstreet's says:
Holiday observance and stock taking
limit new business. but do not decrease
satisfaction and confidence. Wholesale
distribution has been down to a mini
mum, while retail buying. although sat
isfactory, feels reaction from previous
activity.
Additional returns as to 1902 trade
confirm earlier estimates of increases
in nearly all lines of distribution and in
dustry. Aside from this developments
are scarce. Perhaps the most notable
features are the strength of prices of
staples as the year opens and the hope
fulness as to the outlook for next spring
and summer trade. One unfavorable
feature is the continued shortage of an
thracite in the east
Reports of increased trade in 1902
and 1901 continue to come from nearly
all northern, eastern, southwestern and
are given in the case of Kansas City,
which, despite the corn crop shortage OF
/ last year and the winter wheat crop
shortage of this year, shows net gain
4 in all trade over 1901. The same report
comes from St Louis. Chicago reports
| Jobbers having more orders on their
! books than In previous years; that
100000 tons or pig iron was made or
/ handled in that district during the year,
and that Chicago banks hold per cent
+ more Of deposits while loans are 14.5
per cent more than at the beginning of
1902. The outlook for 1903 on the Pa
cific coast is almost unanimously favor
able. The largest business ever done
was transacted at Portland. Ore, last
year, and San Francisco reports the con-
ditiOn of growing crops excellent
AT New Orleans the outlook is class
ed as fairly good, but Montgomery re-
ports 1902 not as satisfactory as 1901,
| owing to the short cotton yield in Ala
/ bama. Atlanta reports that manufa ctur-
ers are doing well on an increased out
! put and banks are making goods profits.
At eastern points it is noted by Phila-
delDhia that the textile trades were gen
orally prosperous, and the outlook in
! the dry goods trade is bright.
{ There is little new in the iron trade.
Merchant furnaces are sold ahead from
ent iron men say that high raw ma
terials and low priced finished products
leave little or no margin for profits.
Nearly all lines Of trade show gains
/ for 1902 over 1901, at New York the
majority ranging from to 10 per cent.
The most important feature in the
eastern dry goods market this week is
the increased buying for export to China
supplies OF this commodity have been
cleaned uD and the mills have secured
lOrders ahead. The rest of the market is
steady, with on the whole. cautious
conditions. and raw and manufactured
materials have closed the week at the
highest prices. with machinery well en-
DlOyed.
Eastern shoe manufacturers have
still something to do to fill winter or
ders and already some are being inn
spring goods The leather trades arr
quiet with some selling at cut prices oil
old or undesirable grades reported from
Boston. Aside from this prices are
firmly held, and there is even some talk
Of further advances in sole leather
r. C. Dun & Cos Weekly Review Of
Trade says
Despite the interruption of a holiday.
Taking of inventories and other disturb
ing elements incidental to the closing OF
the old year. the past week has been fe +
from dull. Consumers were not percep-
tibly lessening purchases, while the APP
proach Of higher freight rates acceler-
ated shipment Of goods. Transportation
facilities continue utterly inadeCuate
the pressing need for fuel divertine
= rolling stock from other classes OF
freight New wage scales have become
effective, largely enhancing the pur-
chasing power CT the people
The new year opens with every pros
4 pect of exceptional activity in al
branches of business. Railway earnings
thus far available for December show
q gain of ~ per cent. over 1901 and
1913 over 1900 while Cor the full year
there are increases of Al and 1e5 per
cent. respectively. notwithstanding this
heavy loss of coal traffic. The declines
in clearings for the last week are not
v actually as unsatisfactory as the per-
centage would suggest, owing to the
Z fact that last years figures include one
day of January and those of two years
ago embrace two days in January, when
p payments are abnorma1ly heavy.
THE question of higher freight rates
+ complexities the situation regarding
r iron and steel, but new orders are con
D stantly coming forward and the actiV-
ity of plants would equal capacity
s were it not for the fuel shortages. Quo
n tations for all products in tins indus
= try are fully maintained, with q ten
k cause of freights and fuel The frs
advance is expected to occur in wire
i nails, although this is not officially an
a nOunced
NO new features have developed II