The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1904-03-05
Business Delayed by PrOIOnga-
ton of Winter.
Agricultural Situation Is One
Of Great Strength.
RAILWAY EARNINGS
Reflect Most UnfaVOrable Win
ter in Many Years.
Volume Of Trade Restricted by
High Prices.

New York. March 5.-Bradstreet's
says:
Trade and industry are still irregu-
lar, being active in favored sections,
but hampered in others by the pro-
Iongation of winter weather, with its
concomitants of delayed transporta-
ton, car shortages or floods. Southern
trade advices, as heretofore, reveal sus-
tanned activity; southwestern points
show improvement and western dis
patches are rather more optimistic,
though the volume of business is not
equal to a year ago in that part of the
country, nor in the east, where whole
sale and retail trade is backward.
Among the industries reports indicate
activity in iron and steel, and prices OF
some grades of iron frmer, but the iron
ore situation is not settled, the coke
supply is insufficient and a soft coal
strike overhangs western industry
generally. The agricultural situation,
on the whole, is one of great strength
and a record breaking acreage will go
into cotton.
Railway earnings reflect the most
unfavorable winter in many years, in
a decrease of 20 per cent in January
net earnings and a decrease in gross OF
3 per cent. February returns promise
to be no better. The feeling is still that
good settled weather would help to re-
pair the backWardneSS of general bust
ness and be particularly helpful to
building and other lines of outdoor
work in which operations are practlc-
ally at a standstill. Collections are fair
TO good.
weather conditions have checked
eastern wholesale trade and retail bus
Iness is backward. The first rush of
dry goods jobbing is over at New York
with a fair business transacted. Cot
ton and wooden goods dealers do not
IL hos ~, he
silk trade. Demand for woolens for
fall delivery has not been up to ex-
pectationS and recorders are not very
satisfactory Manufacturers are buy
ing wool only to cover actual needs,
and, while stocks are small, buyers dis
posed to purchase find dealers willing
to meet their views. There is little ac-
tivity in lumber.
Eastern shoe manufacturers report
demand for spring goods backward as
8 whole. but leather is stronger in
price.
1.-THE features. in iron and steel this
week have been the purchase OF nearly
100 900 tons by the leading interest and
reports of other sales aggregating as
much more. This has had the effect of
Htiffening merchant furnace mems
views and establishing prices at $13 for
BeSsen1er. Finished products returned
rather more favorable reports. Pitts
burg reports all modern mills running
to their full capacity, while Chicago
reports increased sales OF DarS, steel
rails and structural. There is a good
demand for pipe and higher prices are
looked for. Wire nails are selling
freely at the advance. and hardware is
slightly better at the west. Among
manufacturers, flour mill and elevator
machinery are most active. The rail-
ways are buying moderately of sup
plies, but an order for 800 freight cars
is reported at Chicago. The iron ore
situation has not yet been settled. the
Smaller producers standing out for a
heavy cut from last years prices, while
trust organizations favor only a
small shading
r. c. Dun & Co.'s weekly review of
trade saws
Business continued to improve. de-
spite the difficulty of low temperature
and high prices. Weather conditions
nave been Slngularly unprOp1t1OuS, deep
snow retarding distribution of mer-
chandise and excessive cold delaying
the opening of spring trade and struc-
tural work. Yet retailers are making
extensive preparations and plans are
submitted for numerous building oper-
atoms. Prospects have improved on
the Pacific coast. where much needed
rain has fallen. and reports from the
south indicate exceptional prosperity.
Buyers continue to arrive at the lead
ing markets. but the volume of trade
IS restricted by high prices, particularly
Gor cotton goods.
Railway earnings for February were
~ per cent less than last year. bad
weather restricting traffic.
1t may be said with some degree of
assurance that the iron and steel indus
try has made further progress in the
right direction and the prospect is
brighter than it has been at any time
during the winter. Gains, it is true, are
small and there are several disturbing
features, but the presence of purchasers
in all divisions of the market promises
to restore activity.
Certain special branches of the in
re-k- ~
and activity appearing in merchant pipe
plate and bars. A large purchase OF
Bessemer pig iron was made by the
eeading interest OF S13 Valley furnace
equivalent to $13S5 at Pittsburg This
represents the first definite advance
and is encouraging, although only
amounting to Is cents a ton. The sale
Is on an exchange basis the purchaser
trading coke for pig iron, the same as
was done in 1894 to help the market
Several smaller contracts were effected
on the same basis, bringing total sales
to about 10000 tons
IAN abundance of buyers in the dry
goods market failed to produce any
larger volume of business, although
there is disposition to advance bids
Recovery in the raw material cor
rected whatever tendency there was last
week to make concessions on forward
business and the average cotton good:
Is at the highest point of the season
This naturally checks operations fol
A0tdASs pal tASnA1AA ~ III export trade
which is very dull Domestic hides arc
weaker than is explained by the sea.
sonable deterioration in quality.
Leather is less active, supplies &C.
cumulatiOng, except of harness leather
which is scarce and firm. New England
shoe shops are shipping less freely anc
receiving fewer orders than a year ago
Failures this week in the United
States are 236, against 240 last week. 2S
the preceding week and 229 the CORE
spending week last year. Failures il
Canada number 27 against % last week
20 the preceding week and 16 last year
FELL OFF HALF.