The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1883-12-28

into the business thinking that n mill was gold
mine, and the result is that the pro-
duction has become greater than there is any
market for. Several mills have temporarily
suspended work because the orders they get are
not profitable. There is not likely to be much
improvement before spring There may then
be a more active demand, but there will be no
hlSher prices, because the stock has accumulat-
ed TO such an extent that it cannot be eX-
hausted. There have been some small losses,
but none heavy. The millers are generally
prudent, and are not disposed to accumu ate
flour when there is no demand for it. One of
the leading millers in this city told NE to-day
that he had suspended work, and that IL costs
him S25 day TO stop, but he believed it best TO
do So"
THE COMMISSION MEN PLEASED.
"The poultry business in indianapolis during
the last year." remarked j. r. Budd,
when approached by q journal reporter,
"has been good. The increase has been
large in the poultry and egg trade. The business
has grown in indianapolis very largely, both in
dressed ana live poultry. 1t has doubled-more
great deal of trade here that formerly went to
Chicago, by paying better prices. Indianapolis
has built up reputation in the Eastern poultry
market. Our trado hae been steady
and we have sent out none but
the best poultry. The Chicago trade
was spasm odic, and the best was kept for the
home market. Statistics presented at the last
meeting of the National Association, show that
Indianapolis ships over one.eghth of the poultry
nVe hrms here engaged in the business of dress
ing and shipping. There are, also, TWO large
1reezers here. The increase in the trade has been
rand, and it will be greater than ever before
next year We are now freezing forty tons of
dressed turkeys, which are to be sold in New
York in next March. The two ''freeZersr in
this city already have orders for eighty tons of
dressed poultry to supply the March trade of
the Eastern States. The prices paid high,
and the business is profitable. Vermont was
for long while the only State that did freezing,
but they have no turkeys. and besides, the poul-
tTZ OF all kinds from the West is of
peter quality and is moro marketable than the
Yankee production. The farmers all selling
their turkeys now, and there will be no live ones
in market in the spring. The turkeys, there
fore, that we buy now are dressed and frozen,
ana are sold at profitable prices in March.
Besides supplying New York and the Taste IN
States, great deal of the produce shipped from
this city is sent to Europe. The trade
In butter has been dull. and nearly all the deal
Is made in Chicago is highly favored, and sells
better in market than our country butter. When
shipped to New York the country butter which
we ouy here will bring only ten cents pound,
while the Chicago butterine will bring twenty
Inc egg trade is not so large formerly The
poultry Is being taken out of the country, and
there are not so many eggs produced"
ARCHITECTS AND CONTRACTORS.
Other branches of business report good av.
erage trade during the year, and when the sta
tistics have been fully gathered by the Board of
Trade the showing will be very favorable
"There has been more building duripe the last
year." says Mr.. Peter Routier, the contractor,
ethan in any previous year since the panic
Since the opening of the season the Indianapolis
contractors and builders nave been kept busy,
1here nave been twice as many houses built
mere as in any other two years together since
1873. The work has been paid for in cash, too :"
do you expect as much building during the
next year2"
''Wel, don't know. There are great MANY
oOntrctS being let now, but the numbe - =
IN proportion to that of the same time last
year."
Inquiries among the architects elected the
statement from nearly all that they had been
kept bnsy during the year, and are still recelV- |
ing considerable work
THE MONEY MARKET UNSETTLED.
The financial outlook for the next year is re- |
garded with some apprehension by bankers. |
The great drain upon the money market by the |
general and heavy losses during the last few |
weeks, resulting from the decentralization of the |
grain market and the business failures in other |
cities, has had the effect to unsettle finances |
The money market is tight, and, |
from the general feeling among bankers, IL is |
likely to be much tighter, without the prospect |
Tor the next year brIghtens more than is assured
by view from the present uncertain stand |
point Bankers are not anxious TO make loans
and the feeling of apprehension which seems to
prevail is not encouraging.
was asked Of the president of one of the lead
ing banks cit is rather squally," was the reply.
"Do you anticipate any business failuresR"
"No. The losses In speculation have taken a
great deal of money out OF the State, and there
ia consequently something of a scarcity now.
Until things become more settled money will be
hed tightly. This WILL of course. have some
effect upon business generally, but am not APP
prehensive OF anything like a disastrous panic,
and do not think that we are ahoutto enter upon
another era of hard times. Sill the
prudent man is going to act cautiously. The
reports OF losses In this State by speculation
nave frightened outside capitalists who would
send money here more freely if it were
not that crash was impending. There is no
reason for alarm, but there is occasion for pru-
denee,- and prudence is the safeguard OF the
bankers"