The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1905-01-21
CONFIDENCE
IN The FUTURE
1t Is Evident in Nearly All
Lines Of Business.
Industry Maintains a Position
of Prominent Activity.
EARNINGS
EARNINGS
Year Just Closed Showed In
crease Over Previous One.
Manufacturers Seem to Be Gain
ing OH Distribution.

New York Jan. 21.-BradstreetS
Industry still maintains a position of
prominent activity. while distributive
trade Tor sDring. not as yet fully open
ed. lacks definite form in some lines.
The holding of tendency hitherto noted
in the cotton goods trade still continues,
but in wooden goods fall fabrics have
been opened at a notable advance;
hardware and groceries are being sold
freely. and lumber is strong at higher
prices than last year, and with manu-
f~acturers active, though Ultimate dis
tribution is curtailed by s~easonable in
nuences. With the exception Of the
south and portions of the southwest.
where lower priced cotton affects col
lections and clouds the future, the feel
ing is one of great confidence in the fu-
ture and particularly as to the hrsr
hslT of the ensuing years business.
Collections are irregular, being best in
the northwest and central west, n
poorest in the south, where low cotton
deDresses trade.
Iron and steel in it's cruder forms
have beer rather quieter this week. and
the wire edge Of demand being taken
off, foundry iron and bessemer pig have
been shaded in price. h is only an
incidental effect, however, and IS
claimed to be not sympathetic of condi-
tons as a whole, which in finished ines
particularly are said to be very strong
The coke situation is easier, with prices
lower. Anthracite coal is in good de-
mand and bituminous is firmer. There
is claimed to be some subsistence OF the
long continued eager demand for cop
per, but that metal and tin are actual
" frmer on the week
Early predictions of a small ga1n IN
gross railroad earnings for the year
1904 over 1903, the best hitherto report
ed are confirmed by reDorts to Brad
streets of a fraction of 1 per cent IN
crease for the last II months. Deem
Der gross receipts show a gain of 1 per
cent over 1902, but for the first half or
January the increase is considerably
smaller than last year
States for the week ending January 10
numbered 3G4, against 295 last week, 266
in the like week in 1904, 253 in 1903, 2S2
in 1902 and PSI in 1901 In Canada fall
ures for the week number 81, as against
"a last week and 25 in the week a year
ago"
r. G. Dun & Co.'S weekly review of
trad says:
PROGRESS is more rapid in manufac-
ture than in distribution, but this is
largely due to the effect of u-nseasona-
bic weather at some points and the I'M
settled feeling in the south, where one
collapse of cotton prices has retarded
collections and caused many cancelia-
tons. That production is maintained
by mills and furnace may be taken as
evidence Of confidence in the future
Iron and steel plants lead in activity.
with woolens the feature in textile
fabrics. Settlement of the protracted
labor struggle at Fall River is encOur-
aging, but the Industrial atmosphere is
disturbed elsewhere, although, on the
whole, there is less than the customary
dlene for this season. Prices of
newly opened lines of woolens are
higher, as was to be expected in view
of the position Of the raw material, but
consumption is not curtailed- Similar
strength in footwear has restricted bust
ness. buyers in the Boston market re-
porting few contracts. Railway earn
fngs for January thus far show a gain
Of 2.3 per cent. Foreign at
this port is also better han a year ago,
the last week showing gains of s1,555.-
$50 in value of imports and 1922, 986 in
exports.
Scarcely any alteration in quota
tons of iron and steel is the best pos
sible guarantee of continued activity.
Conservatism now controls the situa-
ton, holding prices at a position that
is attractive. considering the volume
of business and cost of production.
Coke ovens are establishing new rec
ords of fuel output and traffic condi-
lions cause little delay. Very extern
sive contracts for machinery are pend
ing and a considerable quality of pipes
and tubes are wanted. while the Pitts
burg mills are behind on deliveries on
bllletS and bars. Tin plate mills are
not only fully ngaged but have orders
running we'll into the future. Struc-
tural steel and rails are quiet although
large contracts are pending.
Hides are still firm as a rule except
that some declines are recorded on
packer native, as these constitute the
bulk of current receipts. This is a sea-
sonable influence, and does not detract
from the general tone of strength.
Failures this week number 335 in
the United States. against 35S last year
and "A in Canada compared with SIS a
year ago"
Bank CIearinps-