The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1885-05-14

The Situation Observation-Disclosures the Pre-
vailing Characteristic.


Trade at this point, as at all commercial cent
ers, is rather quiet yet the volume of business in
the aggregate doubtless exceeds the prevailing
estimate. In fact, the country over, there are
indications larger business is in progress than
is credited. So accustomed have Americans be-
come OF complaining, unless making money
rapidly, they overlook the benefits of steady,
healthy volume of trade Encouraging reports
OF revlvals in various trades are circulated.
More wool has been sold in Boston since the
year began by 3s per cent, than in the same
time last year. The factories which use this
material are well supplied with orders. 1t is
passing into the hands of consumers than dealers
are generally willing to admit
The wheat question is exciting extraordinary
attention just now, because of the effect which
certain late developments in the wheat and -four
industries may have on all classes of trade.
AS matters have stood with the farmers at the
West for a year or So the prices have been so
Improbable that they have been indisposed to
buy except on the hand-to mouth prin-
ciple. Let the grain markets reach a
point where a profit remains with the
producer, and some of that surplus will find its
way into the hands of Eastern manufacturers,
who, during the past twelyemonth, have seen
their stocks of goods daily swelling in volume,
avoid further congestion. Another phase Of the
wheat problem is presented in the action of Mr..
Hecker, manager of the famous Metropolitan
Mills in New York. He has decided to shut
down Tor two to four months, and offers as
reason for his decision the fact that the European
markets now supplied with -four ground at
home, and are no longer dependent on the
American mills Tho methods followed in our
mills have been initiated by millers throughout
France and Germany, and the proper machinery,
constructed on American models, has been made
In German foundres and machine shops. Mr..
Heckers position should enable him to see more
clearly than the speculator or the jobber just
how matters in his trade are moving. But the
figures of foreign trade in -four do not yet
show that there has been a falling off in ship
ments. Thus, there have been sent abroad from
New New York M aone in in oo the eight months months
5,27s, 900 during the corresponding period, 1883 T.
In the local market, so far as values are
cerned. the changes to-day were of slight i'm
portance. The sugar market has taken another
decided turn upward. and the market presents
firmer front than we have had occasion to notice
for some time. Recent Geographic advices from
London report considerable excitement in that
market with decided advance in prices, and
favorable reports have been received from all
producing countries. Prices have ruled I'M
reasonably low for a long time, and it is evident
that the turning point has been reached The
coffee market as well, is in a stronger position
than a few days ago.
GRAIN
The local market is much in the same position
as on Tusday. Dealers, however, are more eau
tious in their bids, showing that they are not
fully satisfied as to the future of the market,
more especially wheat. The Board of Trade
Price Current says of wheat No change from
yesterday. We quote local markets as quiet
and steady. Arrivals very light Futures con-
tinue dull. We quote:
No. Mediterranean. ot...................$1.O61 s
No. 3 Mediterranean o. Observation-Disclosures. LOS
no: reo' o. 49, -.---------...--..--.-. Luz
Corn-Rather quiet with fair demand; offer
ings liberal, but not much anxiety is seen to
trade. With light receipts the general tone is
not very firm nor active. Futures quiet We
quote:
No, q wioe' u 1----. oIA2
Yellow o. t-- 40
High mixed o. ACKNOWLEDGEMENTS. 1888
Rejected No. white, o. Observation-Disclosures. So
heJeeted mixed, O. &c.,. 40
"' -'.---"'"----- 70
Oats-Notwithstanding meager receipts, yet
local markets are dull and prices are off. We
quote:
No. 2 white o. SO
RECEIPTS BY RAIL PAST INVENTIVE -FOUR HOURS.
Corn, bushels 2,4O0
GRAIN IN STORE.
May r. 1885.