The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1904-04-23
MUCH CONFIDENCE
Future Looks Promising to Il.
G. Dun & Co.
Structural Work Is Assuming
Normal Proportions.
A PEACEFUL MAY DAY.
No Serious Labor Disturbance
Is Anticipated.
Railroad Earnings Are Only a
Little Below Last Years.

New York, April PR. c. Dun &
Co.'S Weekly Review of Trade says:
Unreasonable weather is still the
chief drawback to Improvement in
business, complaints being received
from every section of the country and
slow collections are also attributed to
this factor. Not only is current dis
tr1bution of merchandise, particularly
dry goods, affected by the thermonl-
eter, but future commitments are un-
dertaken most conservatively on ac-
count of the possible injury to crops.
There has been much talk of damage
to cotton. but replanting may prevent
any reduction in the total yield, and a
few weeks of desirable weather would
remove anxiety regarding wheat.
There is much. confidence regarding the
future despite the fact that at many
points supplies OF merchandise are bur
densome. With the exception of wear
ing apparel, manufacturing plants are
increasing actively and structural work
IS gradually reSumtng normal proper
tons for the season. May 1 is usually
the date fixed for many labor contro-
versies, but this year there is little
prospect of serious disturbances.
Trade in liquors is improving and
prices and domestic tobacco again ad-
vanced sharply in the Louisville mar
GSet. At the west, railway freight ton
mage has not increased, but passenger
traffic is Y cry heavy and earnings of
all roads thus far reporting in April
are only 40 per cent smaller than last
year.
while no further Improvement can
be discerned in the iron and steel in
dustry, it is gratifying to find no dis
tinct evidence Of setback Nor is it
certain that a temporary check to
progress is to be deplored- Experience
very recently demonstrated that the
"A he md cfa r4d
was to force progress, engendering in
dation of prices and all the other I'M
desirable features of a boom. For
about three months blast furnaces
output Increased steadily and conf
dence appeared to be returning. Pres
ent hesitation is directly due to the
failure of the leading interest to take
up an option on pig iron at Its matur1-
ty in conjunction with the apparent
cancellation of several smaller orders.
Railway equipment is still the most
backward feature, while merchant
steel for implement makers leads in
activity.
Aside from strength and activity in
Texas hides, the western market for
domestic skins is dull and barely
steady, with little prospect OF higher
value, although sales of foreign hides
are restricted by light tmpOrtations
from Latin-America~ Improvement
continues in the leather market, eSpec-
tally as to hemloek and union sole.
Retail distribution of footwear is
vslow and wholesalers have not disposed
of summer styles sufficiently to place
supplementary orders, so that factories
are ovtaldng contracts and more ma
chtnery is idle. Demands at first hands
are few and further curtailment Of
production by cotton mills has not
strengthened the market"
Bradstreet's says:
sIJnseasonably cold weather all over
the country interferes with crop pre-
g.,4~ -
outdoor activity in many lines, notably
building. Distributive trade, both
wholesale and retail has practically
marked time" during the week. The
effects of this and of past unfavorabIe
weather are reflected in reports OF SLOW
business in shoe manufacturing and
building, while in cotton manufacture
ing high prices of raw and manufac-
tured goods continue a bar to activity
At the south cold weather is complain
ed of as interfering with farming pre-
parations and with planting growth.
Those causes have combined to give III
air of unwonted quiet to spring bust
ness and have unquestionably retarded
collections Back of weather and prieI
conditions. too, there looms up the pC-
litical outlook, which, in most presi-
Dental years, has induced a tendency
toward conservatism. While fall trade
has opened up measurably well in som,
sections, there is a natural tendency L
await future developments affecting
crop and other conditions.
Among the industries, iron and
steel note an accentuation of the quiet
observable last week. Buyers for de.
livery during the second quarter are
as insistent as ever in demands fol
delivery but makers of finished prod
uets, with few exceptions, observe
hesitation in the placing of orders fol
the balance of the year, this hesitanc,
being increased by the reduction il
the price of ore. Agricultural nipple
ment manufacturers are among tn,
freest buyers Of steel but the rail
roads are taking only sparingly.
The market for raw wool is rather
low at the east. though higher price.
than last year are reported for tn,
new wool clip at the west There arr
some exceptions to the generally
quiet tone, especially in the rubber