The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1912-08-20
rHE PROSPEROUS wEsT.

General trade prospects are encourag-
ing, and especially because of the pros
porous conditions in the great west
insists Henry C1ews, the New YORK
banker, in his current weekly hnan-
cial review, and he explains:
1.-THE west cannot be expected to sit
down quietly and ignore the value OF
s.. 600 900 600 of new wealth produce
from the soil in single year; a sum
equal to nine times the national debt.
To the great agricultural sections of
the Northwest tbs will prove an ire
sistible stimulus. Merchants and oank
ers and manufacturers alike are pre-
pared for a good business season Oul
railroad managers anticipate heavy
traffic and are distributing their equip
ment accordingly. A month hence we
may expect to hear loud complaints
of car shortage. Some time ago the
railroads placed liberal orders for cars
and locomotives, and a crush of freight
seems inevitable when the crop move
ment eastward reaches its height IN
September and October. Two or three
months hence the western lines are
sure to report satisfactory gains In
earnings The railroads, however, viii
not benefit merely from the large crops.
they will benefit incidentally quite
much by what the crops are turned
into (meat, etc.), by the general stimu
lus to manufacturing industries ana
by the vast quantities of manufactured
products sent back from the east in
return for the golden harvest and raw
products of the west No serious In
jury can now happen to corn for only
the northern section of the crop is IN
danger of early frosts. Cotton is more
exposed to this risk than any other
crop, and the next two or three week.
may prove a critical period. But al
present there is no cause for anxiety
and the outlook is for a very large
yieId-14,O0O, 900 bales or over.
"Our industrial outlook is very salts
factory. The steel trade-always
faithful indicator of business conditions
is exceedingly active and prices show
a steadily advancing tendency. Judging
by the amount of business ahead for
both railroad and general construction
purposes, the indications are for
heavy business for some months to
come. The outlook for the export trade
in steel l. also satisfactory. In for
eign countries there is a large demand
for American steel products owing tic
worldwide expansion. In both England
and Germany the steel trades are taxed
to their utmost supplying foreign and
domestic requirements. Last year the
United States exported 100000, 900, 600
of steel fabrications, which was about
one-fifth of our total product, estimated
in the neighborhood of $500, 100000 per
year Plainly our steel industry is IN |
splendid condition and not likely to be |
injured by any probable tariff legisla
ton, especially as the president prompt
ly vetoed the Stanley reduction bill. The
steel shares in consequence have late
ly shown justifiable strength. The cop
per shares were another strong group,
the better feeling in this section Of
the market being due to the know
ledge that refiners were securing better
prices for their output. Quite a num-
Der of other prominent industries show
ed an advancing tendency because of
business conditions and in
creaSine prOfitS.