The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1884-01-04

and as merchants expect .DuC Httle business
the first few days of the month, they are
not disappointed. Grocers, however, speak of
trade as Frightening up somewhat and we find
that but few merchants are respondent over the
situation. Thus far this year there has been no
change in prices worthy of note, and indications
are of stability for some time tie come
in the staple articles The New York
Shipping List of Jan 2 takes
hopeful view of the situation. The old year,
with its unsatisfactory business record, is num-
bered among the things of the past, and a new
year has been ushered in under not altogether
suspicious circumstances, for the reason that the
old year has left legacy of depression which 1t
will require some time to overcome. But when
it is remembered that there have been number
of epochs in which the condition Of business af-
fairs was a great deal more discouraging than it
is now and which were followed by periods OF
the greatest prosperity there is really no occa-
sion for dependency, especially the country
is immeasurably richer in money and re
sources than it has been in any period of its his
tory. It, Of course, requires good deal OF talth
to take hopeful view of the prospects when
so large a proportion of the aggregate trade
has to be done without adequate profit, and
when public confidence is at so low an
ebb; but the shrinkage of prices has apparently
reached its limit, and as measures have been
taken to lessen the production of leading com
modities sufficiently to bring supply and demand
into close conformity with each other, it Is quite
probable, as the year advances, that there will
be some reaction in the prices of certain com
1t must be admitted that the condition Of many
of the large industries of the country is such as
to challenge serious consideration. But as the
symptoms are nearly alike in every case it ought
to be easy to recognize the cause and prescribe a
remedy What, then, is the remedy! Obviously
the opening of new markets for the surplus
which cannot be consumed here. Almost at our
doors exist markets which only a lack of fore
sight has prevented us from monopolizing We
allude to the neighboring countries on
this continent. The South American States
annually import something like $3.50, 100000
worth of goods, Of which we contribute only
about one tenth, Europe supplying the bulk We
supply the West Indies, which lie right at our
door, with only about one fourth of what they
require, and substantially the same proportion
holds good in regard to the trade of the Central
American States, Mexico, and Canada. On this
continent, in the aggregate lies open to us a
market for manufactures of at least five
hundred millions of dollars annually. In no in
stance, save in that of Canada, any of these
nations manufacturing nations, and therefore
they would not compete with our domestic in
dustres The proper thing to do to secure this
trade would seem to be to conclude special com
mercial treaties whereby our near neighbors Will
find it more to their advantage to buy their man
ufactures in this country than in Europe. Such
extension of the sales of our commodities
would enable our manufacturers to run their
establishments to their fullest capacity the year
round.
GRAIN.
and with light receipts and an improved demand,
bidding on Change was more active, and some
desire shown to trade. The Board of Trade
Price Current says of wheat Local markets are
a shade frmer, but still there is a notable alb
sence of vitality and vim on call Offerings are
very light and bids about in same proportion.
The visible supply report shows slight decrease,
the first for several weeks, but it can probably
be attributed to light receipts at all points, rather
than to any Improvement in export demand.
New York is 5-Sc lower; Baltimore, 140l2c
higher; Chicago $50 firmer. We quote:
No. Mediterranean, track -$103
No. 3 Mediterranean, track ----...--.--.---- LOO
No. red track -.------...--..--..--.-.-- 80
No. red track Observation-Disclosures S7l2
Mixed, track ---------------.--------- -
January, track ------------.-.------.---- 80
March, track.--- ACKNOWLEDGEMENTS IOO
CORN-Under light receipts we note very
good demand, but from scarce offerings we
would infer that it would be difficult to fill or
ders The visible supply exhibits an increase of
more than 500 000 bushels, indicating liberal re
cepts at all points. Local arrivals light and
grading badly. Markets at other points are
from 1401 34c higher. We quote;
No. white track 40
No. 3 white track DO
High mixed track --.------..-------------- 40 L
Mixed, track .-------------------x 80
No. 3, track 40
Rejected track ACKNOWLEDGEMENTS. A
Understandable track Observation-Disclosures 40
Sound ear track ACKNOWLEDGEMENTS. 42l2
January, track. 45
February track. 45
| OATS-Continue steady for higher grades,
and lower grades are shade frmer.
No white, track Observation-Disclosures. 33la
Light mixed track 81
| Mixed track ACKNOWLEDGEMENTS. 3212
Rejected track 30
RYE-No. 2 Firm; SIC bid; no sellers
BRAN-Steady; $12 bid; no sellers.
| GRAIN IN STORE
Jan. 2, 1888.
| Wheat Corn. Oats Rye