The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1904-02-20
BAR TO TRADE.
Winter Weather Has Held All
Business I'm Check.
Railway Earnings Show First
Decrease Since February, '99.
MADE POOR SHOWING.
Bank Clearings for the Week
Are Below Normal.
Important Failures More Num-
erous Than Usual.

New York. Feb. 2O-Bradstreet's
weekly review of trade this week says:
''Midwinter conditions are bar to
growth in spring trade and interfere
greatly with transportation and out
door activities generally. Still. fair
increase of business is noted in jobbing
circles at leading western and south
western centers, and the best weeks
5obbing business so far this year is re-
ported at leading eastern markets. The
feeling is that, while spring trade will
be later than a year ago, this drawback
can be largely offset if good weather
supervenes later.
considerable doubt still EXISTS as to
the effect of the most severe winter in
recent years upon the wheat crop plant
ed last fall, but definite information
must await the appearance of warmer
weather
while favorable to some lines, nota-
bly, coal and heavy winter wearing ap-
parel, the general effect of the I'M
broken cold weather upon industry is
not favorable. Railway gross earnings
in January showed the first decrease
reported since February. 1899, and the
first decrease reported in January since
1897 Bank clearings for the week.
broken as it has been by the holidays,
make a poor showing Important fail
ureS are more numerous this week.
small banks and insurance companies,
the latter at Baltimore, contributing
largely. Money has tended to harden
slightly
WAR influences cut a large figure in
the course Of prices which, with few ex-
cepttons, has been upward. Flour
wheat corn, oats and pork all made
new high records those of wheat and
flour being the highest reached since
also advancing, though not in all cases,
owing to present or threatened hostili-
ties. Cotton and coffee were conspicu-
GUS exceptions to the general advance,
but this was due to a continuance to
the liquidation under way for some time
past, and pig iron weakened as the re-
suit of backward demand, charging
production and reported increasing
stocks
DRY goods, shoes and millinery note
the first symptoms of spring activity at
Chicago and st. Louis, and While those
cities report only moderate activity
Kansas City and Omaha are rather
more confident. St. Louis clothing men
report business equal to two years ago,
tanners have all the business they can
handle and cheap furniture is very ac-
tive, presumably in preparation for the
great fair Cold weather holds back
trade at the northwest, and it is still
rather quiet on the Pacific coast, though
large business from Alaska help the
outlook. Southern preparations for
large crops of cotton, corn and rice
help trade in fertilizers, farm imple-
ments and supplies of kindred lines.
Groceries and provisions also are ac-
tive with jobbers. Business is gener-
ally better than a year ago in the south
as a whole. At the east the shoe trade
seems rather quiet.
THE jobbing dry goods trade has
picked UP well at New York and Bos-
ton this week What is described as
fair trade is doing in dry goods at
Chicago and st. Louis. Nothing like
the activity of a year ago is reportable
as yet, but weather conditions may be
responsible for this.
stock market activity at New York
is restricted. Depressing tendencies
from abroad, combined with poor rail-
road earnings and inactivity in trade
due to the prolonged winter, affect ad-
vices unfavOrably Easy money checks
liquidation and results in a speculative
deadlock attention being mainly given
to the provision and cotton markets
Investment demands for income securi-
ties are fair, apart from the absence
of demands from insurance corpora
lions on account of the Baltimore fire
THE iron trade is still irregular il
that pig iron is weaker, southern pig
being 90 cents lower, but, on the Other
hand, the railways are still taking
rails. The other metals are slightly