The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1883-11-23

Even the speculative markets are dull, compared
with last week. The curious spectacle is pre-
sented OF Overlooking garnersy of a plethora of
money, lack of profits in some branches of
trade and small ones in all, and an industrial
and commercial depression so marked as to
create gloomy feeling. The causes are difficult
TO define within the brief limits of a newspaper
article Excessive speculation and a violation
OF the plain laws of trade during the last few
years are without doubt partly responsible for
this untoward cOndit ON of things; but above all
there Is an excess of almost every commodity OF
which unlimited quantities can be produced,
While sharp competition has beeU productive of
an almost constant shrinkage of prices, which
mas caused an unusual crop of failures and ser1-
ously impaired confidence, SO necessary in all
large business transactions. What the outcome
VIII De cannot be accurately fOretOld. The idea
that panic is impending, the pessimists
would have us believe, is not entertained by the
most sagaclous merchants and bankers. for the
reason that the conditions which precipitate
p.nics do not exist Most of the heavy indebt-
edness which was created during the three
maIkably active years following the resumption
OF specie payments has already been liquidated;
our currency is in accord with the currency OF
commerce, and we never before had so much OF
IT, we are in the enjoyment of the blessings of
peace and plenty, and we are a creditor instead
OF u debtor nation"
GRAIN.
"Rather SICK" covers the local grain market.
The Board of Trade Price Current says of wheat
that it lie less active and lower than yesterday.
Principal bids confined to cash deliveries. Very
little interest is manifested in futures, and the
mdrkeI Is 26neFally weaker. Arrivals are 1gnt,
and millers complain of scarcity OF choice
quality. Seaboard at New York is lac higher,
but of lsc to SIC at Baltimore for cash. Chicago
is Ice firmer. Latest seaboard closed firmer.
We quote:
NO. Medi rerranesn, track. LOO
NO mediterranean, track --..-..-...-. LOS
no mediterranean track --.--...-.---.. l.O2
No. red, track. Observation-Disclosures. 1.O1
No red, track observation-disclosures. 81
Unmerchantable, track. 20
Corn-Has toned up, and note firm and
aetlVe market. Buyers are more numerous and
offerings light. Arrivals only fair, and all
cholce grades are in good demand. Markets at
other points are generally steady, except
Chicago, which is 5sc higher. Visible supply re-
port shows decrease of 434,369 bushels, in
dicating better export demand. We quote:
~; "ulte, TRACK -----.-.-...-...---.--..- 90
Yellow, track 81
high mixed, track. OBSERVATION-DISCLOSURES. 5ole
" tFaCA'. OBSERVATION-DISCLOSURES. oO
NO: 8, track. Observation-Disclosures 49,
Rejected, track ......,...... AT
Unmerchantable, track. OBSERVATION-DISCLOSURES. 43l2
sound ear, Old, track .......-........: 4S
Sound ear, new, track Observation-Disclosures. 81
0ats-Locally are stronger and in better
position. All grades sell readily, bringing full
quotations. Arrivals fair. We quote:
No. white, f. O. b. ACKNOWLEDGEMENTS. 81 L
!ieht mixed, track OBSERVATION-DISCLOSURES 80
Rye-Steadyi 55c bid, no sellers
Bran-Steady $12 As bid, held at $3.50.
day-Prlme timothy quiet; SO bid; no sellers
GRAIN IN STORE.
Nov, 81, 1899,