The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1904-01-09
Encouraging Business Feature
of the New Year.
Much Confidence Expressed in
the Future of Trade.
WAR TALK A STIMULUS
1t Helps Grain and Provisions
but Depresses Cotton.
Railway Earnings Show an In
crease of Z Per Cent.

New York, Jan. 9-Bradstreet's says:
'"The new year opens quietly. but with
satisfactory features predominating.
Cold, stormy weather has retarded bust
ness and transportation. but in some
bections has stimulated sales of heavy
goods. shoes and rubbers at retail
Vghoie sale business is seasonablY quiet
at leading eastern and central western
markets. but it is worth noting tha1
spring deInGn nd and shipments have be-
gun at the southwest Collections show
q slight Improvement and money IS
easing. supplies of that commodity be-
sng III better supply than heretofore
Preparations for spring are going for.
ward actively and with a good show OF
Conservative confidence.
''War talk has been a stimulus to
many markets. notably those for cere-
nls ana provisions but securities ana
cotton have been depressed thereby
IL on and steel in the cruder forms nave
shown steadiness. and though quiet at
the east are in better demand In the
more finished forms at the west
Western and southern pillow manufac-
turers are buying more freely, ana IN
terests catering to southern trade nave
begun to FJn overtime to fill orders
based upon an expected enormous scre-
age in cotton the coming sDilnE-
Leather IS showing more strength in
the east, and lumber. while affected
by climatic influences upon building, IS
IL active export demand, with quota
tons held firmly. The growing ease Ct
money is regarded as favorable 10
Widespread activity in building the
coming spring. The industrial situd-
ton locks rather BETTER employees show
ing a disposition to accept lower wages
and number of iron and steel nils
and furnaces are resumin@ on q read
ju.ted basis of cost. Some good con-
tracts are reported placed on coke at
the lower level of prices.
Cotton manufa curing feels the eff
fects of backward demand and unset
tied raw material prices Wool is
steady, as a. whole, based on conserva-
tive buying by manufacturers who have
opened new lines of goods, but nothing
definite is yet to be seen as to future
trade tendencies.
THE final returns of 1903 are fully
as good as those foreshadowed in ear
Iier weeks December. 1903, railway
earnings indicate a per cent increase
over the excellent returns of 1902"
r G. Dun & Co.'s Weekly Review OF
Trade says:
Retail trade has been somewhat slow
to recover from holiday dullness, partly
because of the bad weather, which also
retarded collections to some extent.
Traffic was impeded and shipments of
merchandise delayed. On the other
hand, low temperature stimulated the
demand for seasonabIe goods and bur-
densome stocks in the hands of dealers
were reduced. Jobbers and manufac-
tHrers in those lines received supple
nentary orders and the wool market be-
came firmer in tone, although actual
sales did not increase materially. Mills
and factories report irregular condi-
tons, some industries opening the new
year under very favorable auspices,
while other branches are extremely
quiet Latest returns of railway earn
ings for December are 54 per cent
above the previous year.
hn Loo 4f1r7 +9zsf f,r- In
dustry the year opens with quiet con-
ditions as to demand but much irreg-
ularity in the matter of wages. Num-
erous reductions went into effect and
several others are contemplated. Dur
Ing the last quarter net earnings of
the leading producers were less than
half those of the corresponding months
of 1902, ana similarly unsatisfactory
exhibits were made by other concerns.
These official returns indicate the
heavy contraction in this industry, and
there was a very large decrease in or
ders on hand at the opening of the
year.
aside from purchases by traction
companies, there is no demand for
rteel rails, and it is announced that low
er prices viii be necessary to stimu-
late interest.
seVioIent fluctuations in the price of
raw material has restrictive influence
on the market for cotton goods. New
lines of heavyweight Woolens are open
ed slowly, thus far being confined to
low grades. but there is a fair move
ment in carpets, blankets and hannels.
Eastern shoe shops are shipping free
~, and jobbers are taking samples
freely of heavy goods for next fall, but
few supplementary spring orders have
been placed.
Failures this week in the United
States are 400 against 2S2 last week, 2S4
the preceding week and $50 the CORE
spending week last year. Failures i'll
Canada number 81 against II last week
p the preceding week and "a last year. "