The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1885-05-09
INDIANAPOLIS MARKETS.
Trade Practically at a Stand Still Awaiting
SeasonabIe Weather.

Seasonable Weather.
INDIANAPOLIS, May 8. 1885.
It is no exaggregation to say that the unsea-
sonable weather is producing general stag
nation in trade, ali departments being affected
more or less The time has arrived to lay by
overcoats, take down base burners etc, and
the thermometer continues to hover about freez
ing point Coal dealers only are in a happy
frame of mind. Merchants, however, are draw
ing some comfort from the prediction Of old
weather guagers'' who say after May Is it will
be hot enough for everybody. Locally there are
no changes in values calling for special note.
Firmness is a characteristic of the sugar market
and weakness a characteristic Of the cot
fee market. Canned goods were ruling
stronger. Eggs, poultry and butter in fair de-
mand at steady prices Green stuff selling Slow
warmer weather needed to start the trade The
New York Shipping List of May says: The
distributive movement of trade, although of fair
proportions is still characterized by conserva-
tism and hesitation that imparts an air OF dull
ness to the situation, while the financial position
is conspicuously of inaction. The supply Of
unemployed capital in the hands of the banks is
now larger than ever before, and a material con-
traction of loans indicates but too plainly that
the mercantile demand for loanable funds is un-
dergong shrinkage rather than expansion,
condition Of affairs that is far from satisfactory,
in consideration Of the improvement that has
been looked for with SO much anxiety, and
so often thought to be near at hand.
Clearing house returns tell the same story of
restricted trade in all sections of the country and
the disposition to curtail rather than enlarge the
volume Of operations, IN almost every depart
ment of commercial activity, seems to be the
prevailing feature. However much progress
may have been accomplished since the tide
turned in January last, it is evident that conf
dence has not yet become sufficiently established
to induce capital to venture from the safety of
hank vaults, and that nremunerative idleness
is preferred to the uncertainty with which avail
able investments are viewed. The practice of
conservatism in every branch of trade has been
so long in force that there seems to be tenden-
CIV to view with suspicion every favorable indi-
cation that appears and to disregard such evil
dences of recuperation and improvement as are
developed from week to week. That confidence
developes thus slowly, and capital continues shy
and timid, is scarcely a matter OF surprise when
many important enterprises are found to be in
such an unsatisfactory condition
GRAIN.
The local market exhibited more strength than
on Thursday, and bidding on Change was quite
spirited. The Board of Trade Price Current
| says of wheat: Local dealers have advanced
their bids to 81. 05 for cash No. red, which is
| &c higher than yesterday. Under light receipts
all grades have toned up decidedly, and will
readily bring full quotations. Futures are
| friendiess Eastern markets are higher We
quote:
No. 2 Mediterranean. O.
No. Mediterranean o. t---.-..---.----.-- 1.O4 -
No. z red, o. IT, LOO
| No. 3 red, o. t.----- 1.Ol
/ Corn-Quite active at quotations. which are
| frmer than yesterday. Receipts meagre. Both
shipping and local consumption demand is good.