The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1888-03-31
BUSINESS or THE COUNTRY.
The Weekly Review of the State of Bushes
by II q Dim 4. Co

The Weekly Review of the State OF Business
by X. @. Dun s. Co.
NEW YORK, March 30--R. G. Dun e. Co.
In their weekly review of trade, say: Dizziness
was the feature on basiness. but dizziness with a
hopeful feeling in almost every quarter. The
monetary pressure which has almost invariably
conan enced about this time does not appear,
and the dangers which were. by experienced
bankers. apprehended seem 60 have vanished.
There is just little anxiety about the
money market that little is said of the delay Of
the bond-purchase bill by amendments in the
Senate, which may possibly defeat it. The pos
sibility of gold exports does not
seem visibIy nearer than it seemed weeks
ago and considerable purchases of securities
on foreign account are reported Money Gail
&C New Iork has ruled at 20 q per cent, and
foreign exchange has declined from 81 SO to
$4 SD. The more pacific adyices from Europe
render the outlook more satisfactory but the
prevailing dizziness is everywhere felt. Many
attribute il TO recent storms and unfayorable
weather, which doubtless affect some trades ma
terially Many feel the influence of existing re-
cent strikes. The railroad difficulty at the West
does not abate But the feature most widely OBJ
served is the disposition Of customers to ACT
with great conservatism, buying only they
are compelled to buy. and this appears in many
OF the leading branches of trade. 1t is in part
the fruit OF expectation that prices may 60 lower.
and IN part due TO perception that the demand
Tor consumption has slackened. aud may di-
minish still more. The failures of banks or
bankers In North Carolina, Mobile, and New
burg has cansed disturbance, though il is
recognized that many weak spots must ALWAYS
be found after period OF extraordinary speeu-
lative activity. Yet on the aggregate. failures
are not more numerous more important
than those OF the last or the previous year,
which clearly indicates greater soundness in
legitimate commerce since the number of fail
ures Of speculative origin has increased. Prices
are main tanned with remarkable steadinsss
For many years it has not happened that the
general level of prices has changed little it
has during the first quarter of 1888. Hard pan
seems to have been reached IN the iron
business, i'm the Judgment of of
tho most successful concerns for the Thomas
Company at least announces $40 as it's contract
price for the year for best anthracite. Rates
for lake ore are not yet announced, but are ex-
rected to be about Sc % for No l bessemer.
The complete collapse of the coke pool with
duct:on of the price to ST.. 10 at the ovens, and
. lowering of rail rates. give producers better
chance In western Pennsylvania but rail rates
also reduced from Alabama and it is calcu-
lated that the price at furnance for best mill
Iron averages $l2 65 at Birmingham. Bar iron
Is unsettled and sales Of best refined at 81 85 are
reported. with no Eastern sales of rails;
at Western mills $33 80 is quoted. The
thrhcite companies, it Is reported. have mo
legal agreement" but will maintain rates
through the year, now about 81 for egg. The
dry goods trade reports fairly satisfactory sales,
and the Arlington auction realized fair prices
for cottons, but it is reported. losses to makers
on woolsns. The jobbing trade is irregular, but
storms and unreasonable weather, with diff
culties both as to deliveries and collections in
Western districts affected by railroad strikes
are named the causes. The drug trade is in
favorable shape, purchases being reduced as far
as possible, and similar features appear In the
markets for sugar and many. other products
which may be affected by change Of duties.
The wool market however, though
dull, is steady for the better grades.
while other qualities sell moderately at
concessions. Reports from various parts of the
country show a general feeling of confidence,
though lack of present activity is commonly
noticed, with some closeness in the money mar
ket and hardness in collections in the North
west. Rates for money about per cent at
Bosten, Philadelphia. Cincinnati and Chicago;
as the latter strong. The treasury has changed
its cash balance only 400, 600. and it's deposits
still less during the week. and the only points of
unfavorabls augury as to the money market is
that domestic exports from New York for March
are % per cent below last years, while imports
little
The business failures during the last seven
days number, for the United States, 1T9; for
Canada, AZ; total. 221; compared with 243 last
week and 223 for the corresponding week in
1897