The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1883-08-09

speaking OF the failures which are alluded to
above, says: at wOnld seem remarkable at
nrst sight that failures Rggregatng Liabilities OF
six or seven million dollars in one of the most
important branches OF trade cOuld be announced
in Boston within one week without causing any
wide disturbance of business. This is half the
amount for which the Spragues, of Rhode Island,
failed ten years ago, aud everybody knows the
disaster aud Intentionally no means yet ended
which resulted from that event. Yet at the points
where financial disasters concentrate-the
banks-there have been no external evidences OF
trouble, 1t is true that The Boston Institutions
have OF late been quietly taking precautions
against pinch, but If the statements of leading
Dahkefs There are 10 Oe oelleveu none oI
the banks will be seriously embarrassed. The
liabilities of these firms are not SO great as would
appear from an addition of the sums reported
by each OF them since they were large lndorsers
on one another's paper. And the shock falls
upon an exceptionally strong banking system,
at a time when there is NO one great economic
force adversely affecting the country at large,
and Is result of the folly Of a small number OF
persons. The firms who furnish the Shaws with
accommodation" paper will hereafter probably
have lively sense of the principle, cit Is
done'"
Nevertheless it is discourse 1ng to trade, which
has for months been trying TO get on it's feet, to
be tripped up in this way every little while.
iron, wool, dry goods and other commodlues
had passed through the experience, and the stu
auion OF the leather trade was known to be pre-
carlons. Doubtless other interests are in danger,
and the protesting of a note some day may
knock the legs from under crowd of mon who
are leaning against one another. In The local
miscellaneous markets the position is unchanged;
the movement is fair, and prices on the whole
steady.
GRAIN
The local wheat market is strong posi-
tion and dealears show more disposition to
trade. The Board Of Trade Price Current says
of wheat: We note decided Improvement in
both tone and price in local markets. There WAS
good demand for cash delivery, and sales of
new No = red were made on call at $1.o5 track.
Offerings Of all grades were better. Receipts
large, but grading only fairly, dirt and shrveled
grazing being the trouble. Farmers must under
stand that the inspectors fryer generally dis
closes the true condition of the car, and that if
they desire to obtain full prices they must ship
stock that will grade seaboard shows a sharp
advance, ranging from a to lhc from yester-
day; Chicago also is ll4c higher We quote:
No. Mediterranean, track
No. Mediterranean, track. los
No Mediterranean, track ----..--.----.- LOB
New No red, track LOS
New No. 8 red, track Observation-Disclosures. 81
SeM leJeoteu, eraoA. ------.---.---. ~
August, track. Observation-Disclosures. 10412
September. track Observation-Disclosures. LOS
Octoher, track OBSERVATION-DISCLOSURES. 106
Corn-This cereal rules steady in local mark
cts, with fair activity for all grades cash de-
livery. No interest in futures. Sales of mixed
made on call at 4Sl2c I. o. b. Arrivals fairly
liberal. Markets at other points are ruling
steady. We quote:
No 2 white, track.................
No. 3 white. track A 8 Ia
Yellow, tract. Observation-Disclosures.
High mixed, track. -..-.---..-...--...-...49
Mixed, f. o. .48 %
Oats-A strong local demand exists for old
choice grades, but evidently none in market.
New III good request, with few sellers. Prices
are "a shade higher than yesterday. We quotes
Old No white, track ACKNOWLEDGEMENTS
New No. white, track. ACKNOWLEDGEMENTS
Old mi Xed, track........--.......----
New mixed. track -.-...-.......--.. 81 Ia
White first half Aug. track
Mixed first half Ang, track
August white, track ......-...-....-.-..-...2S
August mixed. track % 12
September, track 25 q
October, track ACKNOWLEDGEMENTS
Rye-No. ?, dull; soc bid, no sellers.
Brau-Steady; Sll bid; held at Sl2.
Hay-Prime timothy quiet; held to arrive at
$11.
GRAIN IN STORE