The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1904-02-20
-mer, but lead alone is higher than a

firmer. but lead alone is higher than a
year ago.
the steady advance in camphor, which
is now selling at about SO cents, with 81
predicted The strength at high prices
of quinine and lead are also significant
of troubled international relations. Su-
gar is steady and tends to improve"
New York, Feb. 20.-R. G. Dun &
Co.'S weekly review of trade this week
viii say:
Indictment weather alone prevents
definite revival of business. Outdoor
work is retarded and traffic impeded to
an extent that can not be accurately
measured, but is obviously sufficient
to neutralize the favorable effect OF
many encouraging factors, while win
ter wheat is threatened, although not
definitely injured, and early farm
preparations must be postponed. Sew
eral leading branches of manufacture
are increasing active capacity and
thousands of interior buyers are plac-
ing liberal orders at the principal
cities. The usual temporary advant-
ages of war are felt in the markets for
staple commodities, notably foodstuffs,
but while this helps the domestic pro-
Queer 1t harms much larger number
by enhancing prices to home conSum-
ers. There is little friction between
employers and wage-earners, except
regarding the bitunlinous scale, but the
cause of industrial peace has lost it's
foremost champion. Despite Interrupt
ton by storms, railway earnings thus
far reported for February We're only
40 per cent. smaller than a year ago,
when there was also much severe
weather. Foreign trade returns for the
last week at this port show an increase
OF $1,152, OH in value of exports, as COM
pared with last year, but imports were
slightly smaller. Financial conditions
are satisfactory, money remaining easy
and foreign exchange undisturbed by
complications abroad.
while it appears that the output of
pit iron has increased more rapidly
than the demand, assuming some ac-
cumulation of stocks for the month
yet the mere fact that the leading in
terest has now about so per cent. of
its blast furnaces in operation indicates
confidence in the future.
When spring building operations
begin, a large. demand for iron and
steel is expected and contracts are
soon to be placed on Baltimore work.
A large tonnage of iron is announced,
and bids are under consideration for
terminal improvements and rolling
stock, the railways recognizing the
need of avoiding any further delay.
Ease in the money market has made
it possible to secure funds. There is
still uncertainty regarding the ore sit
uation, producers failing to agree, and
committee has been appointed to set
tie IuG disputed points, II possible.
Cotton and coffee lost more of the
recently inflated quotations and specu-
lative activity fell to q normal condi-
ton.
Domestic spinners have taken more
freely but exports have fallen below
last years figures. The statistical
position is generally considered to war
rant prices at u or IS cents. Wheat at
tanned new high records May options
rising to about 81 at this city for the
1898. Minor cereals were also forced
to much higher prices, followed by ir-
regularity as profits were taken.
Foreign trade started the new year
most satisfactorily, as shown by official
returns for the month of January. Two
factors contributed to swell the value
of exports, preparations for war in the
Orient, and high prices of farm staples.
Exports were valued at $141, 663, 4S3.
against s174, SIS, 566 in December and
$133, 1872 269 in the cores bonding month
last year.
Exports in the opening month of the
year are always smaller than in Deem
Der, and, moreover, the present COM
parison is being made with a month that
far surpassed all records No preceding
January made as good an exhibit as last
month. Imports were valued at $82,-
619, 449, compared with $77,767, 1892 in De-
cember and SS5. TIA. 1856 in January 1908.
On merchandise account this nation in
creased its credits abroad to the extent
of $3e, 044, 034, silver exports amounting
to 81, 00S, 755, while net imports Of gold
were 81, 623, 941, leaving balance of all
accounts off $53, AIS, 84S. Imports of gold
for the last seven months were excep-
tionaly heavy, s59, 517 $50. comparing
with $33 010, 824 in the previous year.
Liabilities of commercial failures
thus far reported for February aggre-
gated 5,344, 692, of which $1,000, 911 were
in manufacturing $2,515179 in trading
and 1924 in other commercial lines.
For the same period last year liabilities
were Sc, 1854, 2S5 Failures this week num-
bered 2S7 in the United States, against
247 last year, and 20 in Canada, COM
pared with 26 a wear ago"