The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1885-06-25

Dizziness in Trade the Rule, with Occasion
ally Brisk Business Day.


INDIANAPOLIS, June "a.
The sales of to-day were larger and more nu-
merous than on Monday or Tuesday, but still
fall below expectations, country merchants
almost without exception, and, in fact, the city
retail merchants still clingine to the hand Ito
mouth policy. Prices are ranging low in nearly
all departments The New York Commercial
Advertiser says: 'There is no time when
goods look so much like going lower as when
they are at the bottom. How then is man to
tell when to buy2 BY the cost of production.
This is to be ascertained partly by study and
partly by observation. AS long as stocks increase
goods are not being produced at O loss When
mills actually shut down and the visible stocks
grow less; when dividends are reduced by the
best manufactures; when labor just maintains
life then the market price is near the cost of
production. What wiser thing can every man
do than to find, this summer, what,
in his line, is absolutely too cheapl
This argument is as pertinent to producers as 1T
IS to traders. The manufacturer who can re-
duce the cost of production secures to day
great advantage 1t is a time when brains
worth more than money; when thought makes
wealth. The man who builds houses, or mills,
or even railroads, to-day, puts capital at per
cent, iron at SIT a ton and labor at 81. 20 per
day, against money worth per cent, iron cost
ing $40 a ton and labor So day. Suppose John
Smith builds block Of ten houses costing $780,
GOO, and he borrows the money at per cent.
His profit will be his rentals less So 000 the cost
OF the money invested; but If he waits until he
has to pay per cent for his money, his profit
will be his rentals less SIS, 000 the cost of the
money. Where does tho thought come in2 In
demonstrating how money can be employed
with safety at fair profit. The banks of this
city hold $l55, O0O, 600. The owners want to use
it, but are afraid fortune awaits the
man who can show capitalists how to use their
money with safety and profit" Locally there is
really nothing new to note. The produce mar
kets are fairly active; prices tending lower on
nearly all articles. For provisions the demand
is improving somewhat, especially for sugar
cured meats, and prices are steady as quoted.
The sugar market is firm. The receipts at the
four ports since June i have been &c. 498 tons,
against 90, 66l tons for the same time in 1884,
increase of g. S37 tons as compared with last
year. The receipts since the LIST of January
have been 1884, tons, against GIG, sol tons in
1884, an increase of I2970 tons as compared
with last year. The consumption of the United
States through the four ports since Jan. /,
exports deducted amounts to 443, 500 tons,
against 426 958 tons 1884 an increase of 16 4c8
tons The total stock in all hands June LIZ was
226, $50 tons, against 243, $50 tons in 1884, a
decrease of IL, 447 tons as compared with last
year. There is but little animation in the tea
trade, either in Eastern or Western markets.
The coffee market is dull; prices weak Syrups
nominally unchanged and dull New
Orleans molasses firm and buoyant Higher
prices for straight open-kettle goods are sure to
come before the arrival of the growing crop.
Spices dull Rice steady.
GRAIN
A decidedly tame market covers the situation
locally. The Board of Trade Price Current says
of wheat Dull and uninteresting. Light re-
ceights and no special interest in futures We
quote:
No. Mediterranean, o. t..-.-.............. 9712
NO. Z reo o. t.. SoA2
Corn-Weak feeling, and not much desire to
invest at any price. Arrivals meagre. Futures
not wanted. We quote.
No. white o. 52l9
No. s white o. IT, 81
Yellow, o. 4712
high mixed, o. IT,. AZ
Sound ear, high mixed. o. Observation-Disclosures. 46
Oats-Dull and lower; weak feeling in local
markets. We quote:
NO. white, o. 80
Mixed, o. 81
Rye-No. nominal
Bran-Nomnal
Hay--Nominal.
RECEIPTS BY RAIL PAST TwENTY-FoUR HOURS.
wheat, bushels. OBSERVATION-DISCLOSURES. 5000
Torn, DusneIs. 4,oOO
GRAIN IN STORE
June %, 1885.