The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1886-08-07
THE BUSINESS WORLD.
Increased Activity in Bonds and Stocks-Im-
proved Demand for Iron.

New York, Aug. Especial kilograms to
Bradstreets, this week, do not indicate any gain
in the distribution of general merchandise The
movement of flour. grain and provisions by rail
eastward from Chicago does not increase in pro-
portion to receipts of produce at Western centers,
though this is to be explained in part by the in
creased lake shipments, which have rendered the
lake-shipping business more prosperous than for
several years. Reports of earnings of thirty
FIVE railways for July aggregate SIT 0OO 131 in
1886, against 14,553,7 FOG in 1885 (thirty-fou
roads,. The total of bank clearings at
twenty nine cities for the current
week is $847, 429, 1872, against $747, 586,678
last week. There has been noticeable
hardening of interest rates at financial centers,
owing to the increased demand from wool, lum
Der and clothing dealers. as well as to advances
grain shipments. Exceptions are noted at
Kansas City, Louisville. Indianapolis and Gin
cinnati Rate-cutting at Chicago tended to de-
press prices of railway stocks, but the market is
so entirely controlled by manipulation that
upward tendency was speedily arranged Bonds
were strong and advanced generally. Foreign
exchange is extremely weak on better supply
of commercial bills joined to free offering Of
stock bills The total of bond sales at the New
York Stock Exchange was $l4, 600 900 this week,
against $l2 000 900 last week. Stock tran saclions
aggregated 1921 900 shares this week against
1,029, 900 last week.
The more significant industrial feature of the
week is found in the improved demand for fin
ished iron at Pittsburg. Special advices are
that makers are more sanguine than for two
years past. Prices are unchanged but the mills
are pushed to meet requirements. Like reports
come from Philadelphia and ST. LOUIS Dry
goods sales fairly we'll sustained, the aggre-
gate being in excess of last year. Cottons are
strong at advances. Prints are less active but
no lower. Stocks of fannels are light There
is less doing in raw wool but the market favors
holders. Prices depend on the result of opening
of light weight fabrics, which are not fully
known. There has evidently not been so general
an advance as expected, though late London and
Antwerp sales have been at full figures
Later advices from the spring -wheat crop are
more favorable than previously anticipated
Heavy receipts continue to depress prices. The
damage to corn from drought is also less than
was recently reported, the probable yield being
nearly 1000 600 900 bushels against $40 600 900
bushels last year. There has been sghtalam-
age to the cotton crop from shedding. The plant
has improved in the Carolinas, Georgia and
Alabama Hot weather has threatened central
and western Texas. The Louisiana rice crop
promises to be heavy The weather of late has
been unfavorable to the growth of the cane in
that State. The price of sugar has gone to the
lowest point on record, with slight demand and
with heavy probable supplies The tea market
is demoralized under large visible supplies and
heavy Eastern exports.
The number of business failures in the United
States this week was 124 against 162 last week.
Canada had II this week against % last.