The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1903-08-29
Trade Conditions Are InfIuenc.
ed by Backward Crops,
Damage Reports and Uncertain
Monetary Outlook.
NO OVER EXTENSION.
Business That Is Done Is on a
Solid Foundation.
Dun & Co. Sees Prospects of
Great Permanent Gain.

New York. Aug. 2s.-Bradstreet's
says:
Trade conditions are still slightly
uneven. due to the backwardness of
crops in some sections, damage reports
from others and uncertainty as to the
monetary outlook. Fall trade in favor
ably situated sections compares well
with year ago. while in others a
disposition to hold back is manifested.
Car congestion reports are still numer-
Gus. The feeling grows that the iron
trade is grounding on the bottom as
regards prices, and small buying of pig
/, iron is more marked; but there again
rome uncertainty is still noticeable.
Taken as a whole, the situation has
many elements of strength. What bus
mess is doing is of a solid character
and, in fact, any tendency to over-ex-
tension is conspicuOusly absent
The New England shoe industry as,
in fact that of the entire country, ap-
pears to be in excellent shape, though
the complaint here is that while sales
are large profits are small.
"A notable Improvement in the Jewell
~ trade is reported from New Eng
land manufacturing centers. though
doubt as to the labor outlook mars an
otherwise favorable prospect.
The cotton goods trade feels the eff
plies. but jobbers have found buying
very free. Supplies are small in nearly
all positions, and predictions of small
stocks and heavy business when the
present embargo is removed are many.
Wool is firmer on more moderate de-
mand. Business in spring weights is
of good volume with agents and re-
ports from tie clothing trade generally
are good, the best coming from the
west and south"
r. g. Dun & Co.'S Weekly Review Of
Trade s5ys:
There is still no indication of the de-
preston in trade and industry that
pessimists predicted would follow the
decline in securities. Conservatism
was developed by the uncertainty re-
garding the effect upon financial con-
ditions but legitimate business is able
to secure funds as they are required,
and the more cautious progress of bus
mess gives promise of greater perma-
nent gain. Weak spots have been dis
closed and the technical position
strengthened, just as occurred in the
stock market. REIMBURSEMENT after a
period of imitation must of. necessity
bring some losses. yet the outlook is
frightened by the removal of threaten
ing Industrial clouds. Dispatches from
vail sections testify to the liberal dis
jribution of merchandise and the dis
position to prepare for greater con-
sumption Of all the necessities of life,
while the crops are making good prog
ress aside from some cotton districts in
Texas. The number of buyers in New
York is increasing and a heavy fall
trade is anticipated.
1T is gratifying to find that consum-
ers Of pig iron have at last apparently
decided to place contracts without
waiting for further concessions.
THE decline has now reached its
limit, judging by the larger amount OF
contracts offered. and this is the most
important indication of a restoration tc
normal conditions of prosperity in the
steel industry. 1t is estimated that
a large tonnage of structural steel will
soon be ordered for delivery in 1904, al
though this is in a large measure de-
pendent on labor controversies. The
railways are still vigorous purchasers
of steel, especially as to rails. There l:
2 fair business in plates and sheets
bat an effort to resell an oversupplS
of billets has & produced temporary
weakness in that division.
There is sufficient business on the
hooks of New England shoe manufac
turers to assure full operation of ma
chinery for several months. While
large sales of upper leather are report
ed. there is little demand for sol'
slightly lower. but small offerings main
tain imported hides. Thus far the lib
eral jobbing trade in dry goods ha:
not affected the situation at the cottoI
mills. where he percentage of idle ma
chinery has increased. Wooiens ar'
quist and the only event of Importance
in silks was a special sale at low prices
Failures this week numbered 176 il
the United States against 173 last yea
and 33 in Canada compared with II {
year ago."e