The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1888-02-29
GROWING UNCERTAIN
legitimate Trade and Speculation Hesitate
Essause Of New Iufusnces.
The Sugar Trusts Existence Threatened
Shrinkage In the Demand for Iron
Decrease in Railroad Build
iDG-Ihe Markets.

NEW York, Feb. 24.-Following is R. G.
Dun IL Co.'s review of trade for week end
ing Saturday, February %:
"Both legitimate trade and speculation
continue duller than is usual this season,
though moderate improvement in trade is
noticed OF Memphis, Charleston, Kansas
City and Milwaukee, and in speculation
there has been q little more activity in
stocks. To natural causes of dizziness at
this season there is added quite an unusual
uncertainty in several important branches
of business. The termination of the Read
ing strike has come at last, and, as was
suggested some time ago, 1t only increases
the uncertainty in the iron business.
Efforts to settle the railroad wars have not
succeeded, bnt new cuts cause much dis
tu1bsnce. The sugar trust meets unex.
pected opposition, threatening its exist
ence. Operations of other syndicates or
combinations make IL impossible to FORE
cast the future in many trades, and mean
while the uncertainty as to congressional
action on the tariff is in no degree lessened.
Within few days the sharp rise in foreign
exchange has also rendered the future Of
the moDey market less clear"
1.-The fsct that the Reading strike but
slightly affected the coal business became
clear T.. fore work was resumed, and il is
nos felt that with the known shIinksge in
the demand for iron, the resumption of
work by sfe furnaces would be likely to in
sure lower prices. A sale of extra good forge
for $40 So at furnace is reported and the
competition to secure orders for rails is still
keen. Par iron is quoted at 81 30, but car
building continues unusually large; the
Pennsylvania alone has placed orders for
200 cars and 70 locomotives. Eastern nail
makers have combined and the price stiff
ka An of Ia
Vile have at last consented to reduce the
price % cents, which will help manufac-
tureIs. The Gogsbec mine consolidation
has collapsed, and the orders for lake ore
thus far indicate q heavy decrease in de.
maEd. The failure OF Grsff, Bennett Il
Co., Of Pittsburg, produces no disturb
ance, but illustrates The overconfdence of
last years expansion. The decision against
the barb wire patents affects plants having
a capacity Of 800 600 mounds, bat not actu-
ally producing 10000.
"a decrease in railroad building must
affect many branches of production. The
moderate improvement in tie ssocket mar
ket is therefore interesting, but
as yet bss scsrcely lifted prices above the
level of February / OF new bonds issu ed
this year. S54OO0O00 are for new road,
and nearly $l2 600 Geo additional were
listed last week, bat how many of these
have found purchasers TO one knows.
The quick advance in foreign exchange
appears 10 indicate that Investments of
foreign capital on this side nave ceased for
the present, and experienced bankers now
discuss the possibility OF early exports OF
gold. The actual ex ports of goods at New
York for three wee ks past show an increase
Of 80 per cent. over same weeks of lest
year, bat no such increase is expected in
the aggregate.
1.-THE Treasury has taken in S3,lOO, 900
more than it has paid OUT during the elk
| slightly din inishing bank deposits. The
situation at Washington does not promise
any early action in regard 70 the surplus,
and even The bill authorizing purchases OF
bonds may be delayed. Domestic ex-
changes ere slightly in favor of New York,
| and the movement of money this way
seems TO have ceased, with some tendency
| 70 outgoing in the direction of Boston. At
interior points the supply of money is
everywhere reported ample, and collections
are, on the whole, improving, and especial
| ly in the Northwest.
Trade in breadstuffs is hindered By for
e1gn uncertainties, which keep alive hopes
| of war and higher prices. Corn and oats
! have declined about one cent each, while
meat has risen as much. but is weak again.
! No change Is noticeable in hog products.
j Oil has risen about &c, while cotton has
weakened. Sales abroad and the lscS OF
domestic demand weaken coffee, and IN
the sugar trade Philadelphia house offers
| to undersell the Trust, and at Boston there
Is rumor Of a split, while from San Fran
cisco news come OF organized opposition
by Spreckles and others. Reports that the
| copper syndicate has secured the Calumst
and Heela output for years, lead other pro-
| ducers to contemplate large
| increase in production. The long
| depression in the price of leather
is not yet broken, and the boot and shoe
| trade is reported satisfactory. The dry
| goods market continues fairly active for
| cottons. though print cloths are a shade
easier. In the iobbing trade growing
activity is noticed. In woolens, the pros
pect OF improvement is disturbed by the
renewal Of the large auction sales, and q
peTemp.ory sale of silks is also announced
THE business failures occurring through
l out the country during the last seven days
| number, for the United States, 237; fol-
Canada, 80 or total of go, as compared
| with total OF 273 last week and 2S9 tbs
| previous week. For the corresponding
| week of last year the figures were 209
| made up of 1S6 in the United States, aud
| % in Canada. For the last feur weeks tn,
| aggregate has been 951 in the United States
against 500 last year, and 154 in Canada