The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1904-10-22
GOOD FEELING.
Approaching Optimism DOni-
mates the Trade Situation.
With 1t Is Observed an Under
Current of Conservatism.
WHEELS OF INDUSTRY
Are WhirIimg at an Increased
Speed in Most Places.
Railway Earnings Show Inn
prOyement Over Last Year.

New York, Oct. 22.-Bradstreet's
says:
closely approaching optimism ooIili-
mates the general trade situation. but
the undertone is withaI one of conserv-
atism, and there is a general desire
to avoid over-trading. Past reports
of good wholesale trade are reflected
IN an increased speeding of the wheels
of industry, but except in portions OF
the west and southwest, where coon
weather has helped retail distribution
and in the south, where goou prices
Tor cotton induce free marketing or
the crop there is a disposition to re-
gard the weather as too warm Tor the
best results in final distribution flaiI-
way earnings turned the corner III
August she roads of the country SHOW
ing a gain of a fraction of l per cent
in gross and of per cent in net over
1903. Collecuons have continued 10
hold the improvement noted last week.
being especially good at the SOUTH
General jobbing demand the coun-
try over is most active in staples SUCH
as groceries. shoes, clothing, hard
ware and similar lines The better de-
mand for pig iron noted last week
has gained in strength and has been
reflected in further advances in prices.
Finished material does not show as
much activity but the railways are
OuylQS material quite 1Teely. I1dI u
ware is active in all lines and nails
are selling freely. The other metals
are all stronger. copper, tin and lead
being fractionally higher There is
a better tone in the fuel markets.
Coke is reported active at the west
Bftuminous coal shows more stability
but the manufacturing demand for
anthracite lags, while domestic sizes
are moving with SeaSOnable activity.
Lumber is relatively quiet in the east
but there is considerable building done
at the west The tendency of the
cotton market is downward. The mar
kets for other raw textiles, such as
hemp. fax, wool and raw silk, are all
strong and tend upward"
r. G. Dun & Co.'S weekly review of
trade says:
ing each week, while the feeling of
optimism regarding the future is be-
coming general. With its customary
disposition to discount commercial
average price of the sixty most active
railway shares above par for the first
time since May of last year. Manu-
featuring plants steadily increase out
put, particularly gratifying feature
of the week being the large tonnage
of steel purchased by the railways and
the advance prices for pig iron sug
gest that the depression in that indus
try has run its course.
Textile mills are doing more work,
even the New England cotton centerS
reporting less representation among
buyers, which is the more noteworthy
because the new contracts were placed
at a time when the raw material was
declining. Shipyards are more fully
engaged, and structural work begins
to assume normal proportions. job
bling and wholesale trade in spring
goods makes a better comparison with
last years volume, and current retail
distribution of merchandise is increas-
ing, Payments are still somewhat ir-
regular, yet there are comparatively
few complaints Foreign trade at this
port for the last week shows a gain of
$2.15s,275 in imports over those of the
same week in 1908. but a loss of ST.
14S,275 in exports. A few freight
blockades have occurred and traffic is
very heavy in some sections, while all
railways reporting for the first half of
October show an average gain of Sc
per cent over last years earnings.
Revival of interest in finished steel
and practically all departments of the
Iron industry has come so suddenly as
to excite particular comment. although
Il is not surprising considering the
enormous tonnage under consi deration
for so many months. held back alone
by the caution of buyers, who wanted
to be certain that the market would
go no lower. This new business is
found practically in every department,
notably those pertaining to the rail-
ways.
hides nave attalned sun SJrG niger
position. large sales of branded COWS
and calf skins giving holders the de-
sired advance, and there is a whole
some demand at leading leather mar
kets. New England shoe shops are
receiving a fair volume of orders for
spring shipment.
Conditions are steadily growing
more satisfactorily at the wooden mills,
except for the great strength of the
raw material, and all sections of this
Industry are in sound condition.
Failures this week number 215 in
the United States, against 279 last
year, and SO in Canada. compared
with &c a year ago."