The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1886-12-11
THE BUSINESS OUTLOOK.
Speculation Is Trifle Weak, but Legitimate
Trade Is Still in Good Condition.

NEW YORK, Dec. 10-The trade review for
the current week, compiled by R. G.. Dun &
Co., says January thaw" came in the markets
last week. and in oil and mining stocks freshet,
which continues In railroad stocks and grain
a disagreeable softness prevailed, though the
tone is now confident London buying
still stffens stocks, and the rise in silver caused
by French coinage for Tonquin helps grain and
has started a speculative fever in cotton. Soft
ness in some markets is balanced by hardening
of prices in most branches of legitimate trade,
but speculative failures are numerous in San
Francisco Pittsburg, Chicago and New York,
and to these are added some important
| Dealings here were enormous: 49, 745,-
| 900 bushels of wheat-30 000 900 bushels
| in day. 30,091, $50 shares of stock;
30. 6S3, 600 barrels of oil here and 10000 900 in
one day at Pttsburg; 926, 900 bales of cotton in
| Guiding 250 900 in one day. Wheat had not
! climbed far, and had not far to fall. The high
| est price reached about 80 cents, against q
/ November average of S5c, and 84c in October
| Corn declined but little, and lard &c, pork prod
| ucts being sustained by decrease of 80 per
| cent. in Western packing for half of November.
owing to the Chicago strike. Cotton receipts for
| the week were 49, e28 bales below last year; but
90, GOO bales larger for the thus far, and
the price advanced 5-16c. Oil collapsed cents
| in one day, and Ii cents for the week. coffee
| speculation begun in Europe, account of a
coming short crop in Brazil, lifted the price a
| full cent.
The iron production up to Dec l was l21. 1861
| tons weekly, against 118 592 tons up to Nov. l,
and for eleven months has been 4, 741, 400 tons
| anthracite and bituminous, while the British
make falls from 7250,000 tons last year to
| 600 estimated for this year The key of
the iron market is the sale of ], 238 961 tons of
| steel rails for this year, of which the record is
most significant; no less than 737,3O7 went
west of the Mississippi and 39l, Goa east 1885, LOG
| tons went North, including 400, 825 west of the
1 Mississippi, and 400, 855 tons South, including
| 286 482 west of the river. Large sales were
made last week at $35. and pig is now quoted at
| $40 Coal tonnage for the year thus far in
creases 1.8 per cent. for anthracite, % per cent
for bituminous, and 81. per cent for coke, over
| last year.
! The rise in cotton has, as yet, caused but few
| advances IN goods, but exports have been large.
| Wool is weaker, prices yielding little at the
| London sale. In goods the tone is generally
strong, but foreign worsteds are offered at very
| low figures causing some canceling of orders.
| and Smiths tapestry Brussels carpets have been
reduced q cents.
The drug trade is growing inactive, with loss
| in prices
| Prices harden in sugar. spices, tea and canned
| goods. Sugar consumption has increased largely
abroad, it is claimed. overtaking the supply
Exports were small last week, but for five
weeks show an increase of 8 8 per cent. over last
| year, against rs per cent increase in imports.
| Gold still comes, 81, 2l2, 900 arriving during the
week. with $1,400,000 more reported shipped.
The Treasury took in 81, 300.0 600 gold. put out
5000 900 in legal tenders, and So 000 900 more in
silver certificates Money is generally reported
| in good supply, though the demand is large.
| Collections. generally, are satisfactory, though
| they lag in some Southern districts, and bank
clearings continue less than last year in that
section, but little larger, on the whole. in New
| England, smaller at ST Louis, and about the
same ct Chicago, but greatly increased at many
| other Western points
The business failures during the last seven
| days number, for the United States 252 for
Canada %; total, 274, against 242 last week, and
| ZIG the week previous The increase noticeable
is mainly in the Southern States, where the
| casualties are far above the average in number,
| If unf in M ortance.