The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1903-11-06
IMPROVEMENT.
Seasons Business Is in Excess
of Expectations.
Elections Served to Give Tenn
pOrary Check to Trade.
FINANCIAL SITUATION
Marked by Ease With Which
Wall Street Stands Shock.
Grain Movement Is Still Behind
Calculations.

New York, Nov. Especial telegraphic
reports from correspondents of the In
ternational Mercantile agency through
out the United States and Canada re-
garding the state of trade are summar-
lied as follows:
The Intervention of election in eleven
states with a week of mild weather,
has served to check retail sales of sea-
sonable goods, notably clothing and mil
Hnery, but canvass of leading jobbers
in staple lines at important cities indi-
Gates that the seasons total business is
somewhat in excess of expectations. Bos-
ton reports orders for cotton goods
larger than a year ago. but merchants
show a conservative disposition. At
Philadelphia general trade has been of
only fair volume, at st. Louis a little
less active: at st. Paul it is increasing
but is smaller than year ago, while in
Texas the volume is not large for the
season. Chicago explains that buying
has been in smaller lots and that rail-
ways operating east are carrying less
tonnage. AT Buffalo elevators are near
ly full of grain and railroads complain
of car shortage.
Merchants, as well as customers, say
the cut of $4 a ton for steel billets with
accompanying reductions in prices of
finished steel which it is conceded, must
follow, will hasten the idle revival
which they say must appear when steel
quotations show shrinkage corre-
spending to that in iron. More mills
and factories have closed and some
have reopened. About $4,000 iron and
steel employees are idle temporarily.
Some 10000 iron puddlers will have
wages reduced November TO- Unless
one or the other side recedes about
$4,000 coal miners in Colorado, New
Mexico, Utah and adjoining states will
strike on November 9. Stock yard and
traction labor disputes affect Chicago
interests unfaVorably. Philadelphia
textile mills report orders low.
In financial circles features have
been the ease with which the Wall
street market reststs Shock the ease
which gold was engaged for import
after the first flush of cotton export
bills, and the increased frnlneSS of
bankers say. continued tension is
promised for the next four weeks. At
the northwest demand for crop NOV
ing funds will not reach the maximum
until the ground freezes, Minneapolis
bankers report. The furry in St.
Louis banking circles has disappeared.
and collections there in most lines. as
at Baltimore, Chicago and Cleveland,
are better. At Philadelphia payments
have been prompt in some lines. but
slow in others. At st. Paul, too. they
are less satisfactory than looked for
later
The cotton crop. representing $780,
100000 more than that of last war.
even if no larger, points to further
financial drafts to market it. The big
rush of corn and wheat to market is
yet to come forward. although receipts
of both are growing. Wheat seeding
at the southwest is completed. and
needed rains have fallen.
The demand for staple merchandise
at Montreal. particularly shoes and
leather, has continued strong, and at
Toronto distribution has been active.
notably of merchandise for delivery in
the northwest.
AT Ottawa the results of the seasons
business were considered as good, if not
better than last year, but profits were
not as large. There is a general ten
deney toward retrenchment in trade
lines and depression in iron and steel in
these states is reflected here.
Railroads have been economizing in
the matter of unnecessary expenses
The grain movement is not as rapid as
expected, as farmers are financially able
to hold it. The years output of cheese
in the Dominion has been very heavy
exports being valued at $25, ,000, 00C
against $21. .0O0,O 900 last year.