The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1907-05-25
Iron and Steel Industry Is
Taking Little Interest
In the Offers of New Business
That Come In.
CROPOUTLOOKBETTER
Warmer Weather and Needful
Rains Have Helped.
Bank Clearings Show Increase
i'm Nearly All Cities.

III ANCdAAy All OAbAtSs
New York. May 25.-R. G. Dun &
Co.'S weekly review of trade says:
Further progress was made in the
distribution of spring merchandise this
week, but the season is still very back
ward and much stock will be carried
over. Confidence is not generally sha-
ken, although some evidences of caution
followed the violent rise in prices OF
wheat and frequent rumors of crop dis
asters- Latest reports indicate that
warm weather in some states and much
needed rains in other sections have Civ
en- the tardy grain and cotton better
start. Leading manufacturing indus
tries have not curtailed operations, sew
eral advances in wages have occurred
and there are numerous encouraging
developments to offset slow progress on
the farms, including more prompt mer-
camille collections at many cities. Much
new business is pending in the iron and
steel industry and a large tonnage was
placed during the past week. but the
furnaces and mills sold so far
ahead that interest is greatest in speci
hcations on old orders AS these are
of noteworthy size it is evident that
consumption is fully maintained and no
setback can be discerned in any de-
partwent. A conspicuous feature is the
demand for bars from makers of agri-
cultural Implements. This business is
larger than last years, indicating that
no anxiety regarding the crops is felt
in this industry, although wholly de-
pendent upon the prosperity of the
farmer. Business in steel rails includes
large quantities for Japan and Panama
and domestic contracts covering deliv-
cries during the first half of next year,
while light rails for traction COM
panies are under negotiations. but this
large tonnage depends upon funds be-
ing raised for projected lines Struc-
tural steel mills have extensive inQuir-
les for office buildings, factories and
railway bridges. most of the pressure
coming from western cities
In the textile industries the event or
most interest during the week was the
Increased hrmness in cotton goods on
account of the sharp rise in cost of
raw material and a better demand for
the finished product from many buyers
While leather is not especially active,
there is good movement of sole, but
side upper has declined still further.
All foreign hides are weaker, owing
to the poor business of European tan
lower for the week, because stocks have
accumulated, tanners buying less than
the slaughterer- Improvement is noted
in wooden goods.
Bradstreet's
Bradstreet's says:
Crop and trade reports are irregular,
but there is slight improvement WISH |
BILE as whole. owing to higher tenn |
peratures. This is most marked in |
the grain growing sections of the west, |
southwest and northwest. where |
warmer weather with needed rains has |
helped crop sentiment and encouraged /
buying. Leading eastern markets re- |
port retail trade tagging and as |
whole the country's distributive trade |
needs steady warm weather to enable /
the heavy retail business of the spring
of 1906 being equaled.
Relatively, the best reports as to
retail and wholesale trade come from
the Pacific northwest. In the central |
VI
south the volume of retail trade is
behind a year ago almost without ex-
ception. As to jobbing trade, it is to
be noted that recorder business has
been also backward, but this week has |
seen a fair trade in this line east and
west. A few western and most large
eastern markets report good fail or
derS, but the general disposition is to
await a clearer view of crop develop
ment before ordering heavily for fall.
At leading eastern centerS the demand
for cotton goods is a feature of activi-
" and high raw material and cost of
is reflected on advanced
quotations for skeptical cottons of
many kinds The mems clothing trade
mand at wholesale for mems wear
fabrics is not brisk for nearby de-
livery.
Foundry pig iron markets are firm
er. Business for 1908 is appearing in
various lines. Within the week $4,000
tons of malleable Bessemer were sold
In Cleveland for delivery in the first
part. of 1908, the price basis being
s22 per ton. valley furnaces. Some
southern iron has also been disposed
of for first quarter shipment, the
quotation being $3.50 Birmingham.
Demand for basic pig for delivery in
the last half of 1907 is quite heavy,
with much business in sight Large
orders for steel rails for delivery in
1905 have been placed. the tonnage
aggregating about 100000 tons.
Makers of farm implements have de-
cided to wait no longer for price con-
cessions and they have ordered steel
bars rather heavily-have taken more.
Business in structural material is good
and specifications are heavy, but or
ders for shapes are not so large as
for other finished lines.
Business failures for the week end
ing May % number 165. against 1874
last week, 176 in the like week of
1906 17e in 1905. 1s4 in 1904 and ISL
In 1903. Canadian failures for the
week number 10. as against % last
week and 1 in this week a year ago.
Bank Clearings.
Rradstreet's bank clearings report for
the week ending May .. shows an aggre-
gate of 81 754, 4S1 600 as against $2s17, 1000
ponding week last year. Canadian clear
Ings for the week total $50, $4,000 as
against SIS. s66.OOO last week and $50. $4,000
Ing is a list of the cities, amount, increase
ard decrease:
Cities, :, A Am oe mt Inc. Dec;
Chicago -. -. 25s.Sso.000 "a 80
Boston IA. 10000 81 -. | ,
- -. 100 2S.Oo0 5 -
ST; Louis ------.--.-- 6e,I320o 1S.S -.
san Francisco 49,. 4i76i,000 ~ ....
Kansas City ...-.--. g.. 255,000 4S.4 -.
Cincinnati z. 10000 1913 ,