The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1883-07-31

most lines steady, ana changes were lew. luo
steadiness in prices is looked upon as a favOra-
bile feature. The New York Shipping List says
OF trade: July Is always a dull month: II is inns
season a little duller than usual, because of the
telegraphers' strike and consequent delay in the
transmission of news by wire. Nevertheless,
the world wags along much the same as usual.
If the strike causes some Inconvenience there IS
the compensating reflection that nature is per
forming wonders in bringing forth u lavish sup
ply of the fruits Of the soil. The wheat
harvest is nearly over, and, while y
Is pretty well settled that the yield VIII
not reach the extraordinary crop or last
year, 1t will not fall nearly so far short OF 1t as
was predicted a few weeks ago. The prooaoli.
tiles are that with the exception OF that Of 1882
il will be the largest on record. Add 70 TINS
the excess in surplus carried over from lSS2 as
compared with that left over in 1881, and there
will be sufficient in the country to supply the
home demand and a full margin for foreign ex-
port. Oats, barley, hay and potatoes have come
up to a full average crop, and in some cases
there is more than an average. This is especial
ly true of oats and hay. Corn, about when
there has been a good deal of anxiety, is getting
out OF the woods very rapidly. There is, taxing
the corn States through. an increased acreage,
after making full allowance for losses caused by
local storms and hoods, and with reasonably
favorable weather we may look forward TO the
largest crop ever gathered. Advices fIom En-
rope are also favorable TO fair crops In the lead
Ing countries. This is by many Interpreted as
unfayorahle to our markets. Europe, under the
most favorable circumstances, does not produce
near enough bread and meat Tor her people ana
there is always on that side a deficiency. More
over. good crops in England have the same ef-
1ect upon general industries that they nave III
this country; and prosperity there means, far
more tnan in the United States, an increased
of bread and meat. On this side
people usually get althey want OF staple articles
of food, whether prices be high or low, while in
Europe the consumption depends largely upon
the earnings OF the people and prices OF commod-
tiles. There people consume what they can al
FORD TO pay for Here the people, so far rs re-
CARDS subsJantiais, consume all they need. There
bread and meat are Injuries. Here they are
necessities. 1t is a mistake, therefore, to sup
pose that crop failures and depressions in bush
ness In Europe are favorable to this country. 1t
may nave such a result spasmodtcally, but pros
perity IN Europe in the long run has a favorable
effect upon the business of this country, especi-
ally when the latter is also prosperous. Europe
ana the United States are too closely lcentlned IN
their business relations for one to suffer without
unfavorably affecting the other. AS a result of
good harvests. then, there should be- general
business prosperity, for in every country food
supplies underlie all industries, and whatever
lmparts activity in trade and increases the de-
mand for labor causes an increased onsump t1On
of food. II, therefore, harvests OH both sides
turn ont as ia now promised, there Will be a de-
mand for surplus products, general confidence
VIII be strengthened, and all branches OF lndus-
try Will have a healthy growth; and while this
cannot fail 10 stimulate European industries, 1t
Will be sure to impart new life and insure in
creased activity to the industries of the United
States"
GRAIN,
The local grain market opened tamely. Prices
went off during the day from 1l9c TO 20. Re-
ceipts are increasing and the arrivals are I'M
proving In quality. The Board of Trade Price
Current says Of wheat: A paleness has spread
over the hitherto rudy face of the local markets,
which would indicate sickness and weak feeling.
Buyers have dropped their bids about &c, and
sellers are offering stock at lao less than on
Saturday. Arrivals. continue liberal. and are
daily grading better. Very little damp wheat is
coming into market, shriveled grams and poor
threshing giving most trouble. The continued
"good service Of the Western Union is demon
strated by the total absence of Eastern markets
up to 1890 o'clock. Chicago is 1ac off for wheat
from Saturdays close. We quote:
No. l Mediterranean, track.
Old No. 2 red. 1.04
New No. 2 red, 1.04
New rejected, s7ls
New unmerchantdble, track .-.-.-.----- 20
Old understandable, rack...---.-.-- 70
August, 1.03l2
Corn is in very steady position, with a good de-
mand for all grades, but a choice article is scarce.
Sales of No. 2 were made on call at 47loc, track,
and very fair offerings were made of OFF grades;
Arrivals were rather light, the local demand
taking the larger half. Markets else are
a shade lower. We quote:
No. 3 white,
neliow,
Hlgn mixed,
Mixed, track
heJected, 40
No. 2,
Unmerchantable,
Oats lower ana very dull for cash offerings.
Futures are active, especially August. We note
sales of first half at 27lac, and the month at
26l9c. The present crop Will be large and OF
good quality. We quote;
no. z wnlte,
mixed,
First half OF August,
august, 20 2
September. tract.
Rye-No. Q nominal; nothing doing.
Bran steady; SIl bid; DO sellers.