The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1885-05-08

A Dull Day In Local Markets, largely Owing
to Unfavorable Weather.

to Unfavorable Weather.
INDIANAPOLIS, May z, 1885.
Trade was rather slow to-day, as night be ex-
pected when the thermometer marks within a
few degrees of freezing The leading question
now is, when will winter relinquish its holdl
Yet above all this murmering the volume of bust
ness thus far this year has been an improvement
over the corresponding period, 1884. and most
merchants will admit that the dullness which has
characterized trade for nearly three years is
gradually giving place to more activity. The
Boston Herald, in commenting on the business
situation, says:
'1t is generally recognized that periods Of
trade stagnaton continue long after the causes
that produced them have disappeared Inflated
values may be completely pressed out of the
prices of shares, that. OF the present or pros
pective business of the corporations they repre-
sent, an exceptionally high rate of interest is
received on the market value of the shares; an
accumulated stock of manufactured goods of all
kinds may be swept out of existence by the ordi
nary processes of consumption; wages may be
low, raw material cheap, and capital readily OBJ
tainable at merely nominal rates of discount;
yet in spite of all these combined opportunities
for healthy business industry. trade and manu-
facture will continue month after month, and
sometimes year after year, in a depressed,
and for the most part an Improbable condition.
This longcontinued depression is largely, and in
some instances wholly due to want of popular
confidence To illustrate what we mean, let US
say that there are many reasons for believing
that the business BOOM as it was called, of 1879,
might nave been started, so far AS the physical
conditions regulating it were concerned, two
years prior to that date. Indeed, it is more than
probable that the movement would have been
much healthier if it had been begun in 1877 than
it was in 1879 for the swing of the pendulum of
trade from one extreme to the other was alto
gether too rapid and forcible to make the reac-
ton permanent and satisfactory operation. If
the recovery had been begun in 1877, the up
ward process would have been slower, specula-
ton would not have run riot, and, in conse--
quence OF this moderation, the financial disasters
of 1883 and 1884 might have been averted."
Locally the markets are much in the same po
stion, SO far as prices concerned, as for some
weeks past. The sugar market is again frmer
and strong at the quotations given. The coffee
market weak and tame. In produce there is a
fair movement Eggs, poultry and butter are
steady at quotations. In green vegetables the
movement is slow, owing to the cool weather.
Eastern papers report the -four market lifeless
on account of the uncertain war advices The
preparations an extensive scale, but the
latest reports are more peaceful, and this has
put stop to business for some days past Will
there be any decline il breadStuifS under any
circumstances? There may be a temporary reac-
ton, but the condition of our winter wheat will
have moro important influence on future prices
than anything e!se and we do not see how prices
can recede from present quotations. With
short crop of wheat and war in Europe prices
would probably advance some So per barrel from
current rates. but with "a short crop only to infu
ence the trade the advance will not be so marked.
GRAIN.
Steadness is the chief characteristic of
the local market The Board of Trade
of Price Current says of wheat: Local
prices feel the influence of light receipts and
general irmness at other points. and are firm,
with marked advance noticed for cash deliver
les of better grades. Futures not wanted. Good
milling demand for choice stock. and shipping
inquiry for interior points is quite noticeable.
We quote:
No Mediterranean. o. t----.-...-..-------.$1.O5
No. 5 Mediterranean o. ACKNOWLEDGEMENTS LOB
40. z req, OH ---.---.-----.--------- LOS
NO. . red, o. t.- ACKNOWLEDGEMENTS 1854
Corn-Steady at quotable prices, with both
fair demand and offerings Futures dull. Re-
ceipts light We quote:
No. z white, o, Observation-Disclosures. 81
yellow o. ....4 93l
High mixed 0. ACKNOWLEDGEMENTS. 48
rejected mixed, 0. Co.: .---------..----.---- AZ
Rejected No. white o. Observation-Disclosures. so
Rejected No. white, o. ACKNOWLEDGEMENTS. 81
LoouIu car w
Sound ear, white, O.. So
Oats firm and in good request Receipts small
We quote:
No 2white, o. ACKNOWLEDGEMENTS. 3912
Mixed o. t.-.--- --.----.------------..--- 37ls
Middlings-Dull; held at SIT, without buyers.
RECEIPTS BY RAIL PAST TwENTY-FoUR HOURS.
Wheat. bushels. $500
Corn bushels Observation-Disclosures. A, 200
GRAIN IN STORE.
May 6. 1885.