The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1907-03-09
Depression Has Been Confined
to Wall Street.
Business Throughout Country
Continues Vigorous.
IMPROVEMENT NOTED
In Traffic Conditions and Dis
tributiOn of Merchandise.
Bank Clearings Show Heavy
Gains in Most Cities.

New York, March 9.-R. G. Dun
weekly review of trade says:
Depression in the stock market did
not extend beyond Wall street, COM
modify prices ruling high and general
business continuing vigorous. The
traffic conditions have improved some
what. increasing the distribution of
merchandise and spring sales of dry
goods nave equaled anticipatlons- Re
tail trade is good for the season and late
buying of winter goods neceSsitated
by tie severe weather in many sections
has depleted stocks in a most salts
factory manner. A few trade reports
tell of conservatism regarding opera
tions for the future, due to high prices
and tight money, but there is practi-
cal unanirlity as to the activity of cur
rent trade, comparisons with last
years figures being almost always de-
cidedly favorable. Several wage scales
are under discussions that may not be
settled without further enhancing the
cost of production, but no serious
strike is anticipated and higher freight
rates have become necessary on some
roads because of increased expenses.
Renewed demand for Bessemer iron
from the leading interest indicate that
it is unable to provide for the needs of
the steel mills and the distribution of
the contract among many furnaces
testiffes to the good condition of order
books, as no single concern could make
the desired delivery. Where inquiries
are noted and there is no evidence of
weakness in any department, while
strength and activity are conspicuously
in the lighter shapes of steel, notably
market is still postponing business in
steel rails and cancellations OF orders
for rolling stock are attributed to the
same difficulty of raising funds.
Business on the books of pipe and
tubes mills is beyond all precedent, and
as the season advances there will be
extensive requirements for wire pro-
ducts. Exports inquiries are numerous
soil e -lNn 6or hai
ported for shipment during the clos
ing month of the year.
Activity in the primary market for
cotton goods is less vigorous, but a
steady volume of quiet buying main |
tains firm quotations and the mills are
supplied with so much forward bust |
ness that many orders can not be &C |
copied on account of inability to make |
desired deliveries. Producers are con-
sentative in regard to the acceptance |
of remote contracts on any orders of /
distinctly speculative nature. Large !
jobbers state that much spring trade !
will be lost because goods can not be |
secured in time, which should tend to |
leave dealers stocks in a most salts !
factory state of depletion at the end of |
the season. Moderate duplicate orders |
are received for, mems wear, which is
the best feature of the market for |
wooden goods, and some cancellations |
are reported
Most eastern footwear manufacture |
erS have orders assuring activity until |
May, but new contracts are limited |
and few buyers are in the Boston mar
kets. Aside from sample orders, little |
business has been done in fall shoes, /
most wholesale houses holding off for !
more definite information regarding |
the requirements of the retail trade. |
Local jobbing trade is active, espe-
cially in rubber goods, the season hav
ing favored distribution in that line.
Irregularity is noted in leather.
weakness in some lines being offset by
irmness in other varieties.
Many tanners announce the inten-
ton of waiting for better terms and
business is restricted to descriptions
of which the current taxeoff is light,
notably branded hides.
Grain markets have moved within
narrow limits, aggressive speculation
being deferred in anticipation of next
weeks statement of farm reserves.
Some selling was caused by trade esti-
mates that made the holdings of wheat
and corn very large, but the movement
was not extensive, as big figures had
generally been expected.