The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1883-12-28
BUSINESS OF THE YEAR.
merchants and Dealers Generally Sat-
isfled with the Years Trade.
Tho Evil Effect of Speculation in Margins
on the Various Branches of Trade
and Industry.
A Bankers View of the Financial
Outlook for Next Year,
Remarkable Development of the Poultry
MISUNDERSTANDING of 1854 Gener-
al Increase of Business Reported.

q trade during tho last year. In some branches OF
business there has been a marked br3 not disas
frous decrease from the trade of previous years
Considered generally, however, the decrease has
been smaller proportionately than the increase,
and the average shows very satisfactory i'm
provement. There have been no heavy failures
IN Indianapolis during the year, but some large
losses have been sustained by speculation, and
this has had the effect to draw the tension on
the money market
"What has been the character of trade in In.
dlanapolis during the year2" was asked of John
g. Blake, the secretary of the Board of Trade.
"From such reports as L have" replied Mr..
Blake, sit seems to have been generally satisfac-
tory. The sales of wholesale merchants have
beeH rather heavy, with the exception of the
fall trade, which has been somewhat slow. The
weather for the winter trade las been rather I'm
prOpituous, and the country merchants have
been buying cautiously. Instead of purchasing
In advance of the season the usual stocks for
which heavy sales are expected, they have been
purchasing in small quantities only such goods
as they have actually needed ard have had de-
mands for. Usually the retail merchants buy
goods in anticipation of the demands of the
season. but this year they have deferred laying
in large stocks, and their purchases have been
small, but more frequent than usual. A whofe-
salo merchant said to me a day or two
ago, Our trade has been active, but not
heavy and this has been about the general
character OF business with the wholesale dealers.
The cold weather in the last few days has
helped their business wonderfully and they are
now working off their winter goods very rapidly
On the whole, their trade during the year has
been steady and satisfactory. There has been
more caution in dealing with country merchants,
and there has been less loss than in previous
years. With continued Geld weather the winter
goods now in stock by wholesale dea lers will be
disposed Of and they will not have to carry over
large surplus to next year. The holiday trade,
WhIch can always be relied upon, has been heavy
and profitable"
CONDITION OF THE GRAIN MARKET
"What is the condition of other branches of
yAusInessH"
''In the grain trade there is very peculiar
condition. Notwithstanding the cry
which was started in the spring that the wheat
crop was short and of inferior quality, from dam
age by the fly, the price has been on the decline
since last May There was never a time when
the wheat market was so peFsistently bulled in
opposition to all statistics and indications as
durtng the present year. Every wheat specula-
cor IN the country was bull The estimated
production was 100,000,000 bushels less than
an 1882, but there is a surplus Of over 10, O0O,-
900 bushels more than one year
ago, and the visible supply is
,shels meek sAo INC ss7 market is oSe.stooiod
and there Is no demand for the surplus, which is
stored away in the elevators Oyer-produGtlon,
III course causes a depreciation in yalne. There
ia no market for our grain abroad. The crop In
Austria was good. aud instead of importing, she
s now exporting grain me elevators H t ana ml, s
lmand for our vast surplus. We are left to
consume our own production, ana unless
there is war abroad, or something occurs TO
make some of the European countries depend
eut upon us for their bread the prices are sure
to decline still more. The corn crop is short and
the price is gradually advancing. There are
sDeculators who think that the prices OF wheat
and corn will meet-that they will both proba-
my be something near seventy -hye cents.
in losses to speculators. And right
here want to say that something must be done
to check this spirit OF speculation. 1t is spread
ing over the country to an alarming extent
Some man who has accumulated $500 or $1,000
by industry comes to the conclusion mat
there is no way Of getting rich so easily as
by speculation. There is no Investment honestly
made which gives so large returns, and If
the first Investment is successful he con-
toludes that he will no longer wear his life away
at hard work. He Will become SPECTATOR and
will get rich easily. And he forsakes the plow
and his ear is applied to the ticker. 1t is only a
matter of time until he will have to give way to
some other galoot. Men are being drawn from
the farm and from the workshop by the mania.
ThB practical pursuits are neglected, ana the
army OF bankrupted spectators Is growing I'M
til it has really become alarming"
"Have there been any great losses or many
business failures during the year2"
'There have been very considerable losses
through speculation, but the business failures
InAV0
10 conduct a large business upon small capital
more than from any other cause"
GENERAL WHOLESALE TRADE.
Tho Wholesale merchants who were inter.
viewed regarding tho trade during the last year,
nearly all reported increased sales and very
satisfactory business. John W. Murphy, of the
firm of Murphy, Hibbe n & Co.. said: sour trade
was larger than during the previous year The
sales showed gain in every month over the cor
responding period the year previous, with
Ehe exception of during November, when
there was slight falling off
The trade has been steady and profitable"
do yOn anticipate continued GOOD trade
during the next yearF'
measure upon the crops However, do not ex
poet any marked increase The presidential
campaign comes next year. and there is always
"a marked decrease in business during campaign
years."
been in his line of business during the year, said
SIT has been better than tie year previous
ut least six per cent better, There was steady
gain over every month, with the exception o.
last. The increase is due, think, to the natura
growth of trade, rather than to any greater
W. A. Krag, of the firm of schnull & Krag
in speaking of the general wholesale
Grade in groceries ,6 during the year
profitable. The competition has brought
margins down until the difference between ex
p0nB6 ana pf0nG Is not large enough, Mercnantt
are less anxious to push goods. The object is tt
sell TO first-class buyers, and the retail dealers
are very conservative In buying. There hat
been q decrease in the prices of nearly all good
excepting coffee, and. making allowance fo
this decrease, the increase in the volume o
trade would not be very large. The system o
business is more rigid than
over before, and, while losses have beeI
general they have been less than during the
previous year. The country dealers have beer
buying carefully, and they will enter upon thu
new year with light stocks. The merchant
throughout the country are greater readers thai
formerly. They notice every failure now, an(
they are easy to become alarmed, and conse
quently are more careful. do not look TO
much increase in trade during the next yea
without an abundant crop. II the yield is eithe
large or small, the effect upon business Will b.
great for better worse"
Charles W. Blackmore, of the firm of Black
moro 81 Co.. grain and commission merchants
when asked about the flour and grain trade
said s'The -four trade is from Is to % per cent