The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1888-02-25
DUN & CO.'S BUSINESS REVIEW.

continued Dizziness In Legitimate Trade
Some Things That Cause Uncertainty.
NEW YORK, Feb. 24-Following is R. G..
| Dun g. Co.'s review of trade for the week ending
Saturday, Feb. %: "Both legitimate trade and
speculation continue duller than is usual at this
season, though moderate improvement in
trade is noticed at Memphis. Charleston, Kan
sas City and Milwaukee, and in speculation
there has been . little more activity in stocks.
To natural causes of dullness at this season
there 10 added quite unusual uncertainty in
several important branches of business. The
termination OF the Reading strike has come
at last, and, as was suggested some
time ago. it only increases tho IN :
certainty in the iron business Ef-
forts to settle railroad wars b ave not
succeeded. but new cuts cause uck disturb
ance. The sugar trust meets unexpected oppo-
sition, threatening it's existence; operations of
other syndicates combinations make it i'm
possible to forecast the future in many trades,
and meanwhile the uncertainty to congress
sional action on the tariff is in no degree les
sened. Within few days the sharp rise in
foreign exchange has also rendered the future of
the money market less clear. The fact that the
Reading strike but slightly affected the coal
business became clear before work was resumed
and it is now felt that with the
known shrinkage in the demand for iron,
would be likely to insure lower prices.
A sale of extra good forge for SIS IS at fur
mace is reported, and the competition to
orders for rails is still keen Bar iron is quoted
1t $l.90, but car building continues unusually
large; the Pennsylvania alone has placed orders
for 1900 cars and 20 locomotives Eastern
nail-Inaksrs have combined and the price stiffens
little. Coke producers at Conuellsvile have
at last consented to reduce the price 25c which
will help manufacturers. The Gogebic mine
consolidation has collapsed and the orders for
lake ore thus far indicate a heavy decrease in
demand. The failure of Graf, Bennett e. Co.,
OF Pittsbure. produces no disturbance. but IL
Illustrates the overconfdence of last years
expansion. The decision against the barbwire
patents affects plants having a capacity OF 300.-
600 pounds, but not actually producing $50 900.
A decrease in railroad building must affect
many branches of production
The moderate Improvement in the stock mar
ket Is interesting but as yet has scarcely lifted
issued this year. $54 600. 900 are for new roads,
and nearly $12 900 additional were listed
last week, but how many of these have found
purchasers no one knows. The quick advance
in foreign exchange appears to indicate that
investments or foreign capital on this side
have ceased for the present. and expert
early exports of gold. The actual exports of
goods at New York for three weeks past show
an increase of 30 per cent over the same weeks
of last year. but no such increase is expected in
the aggregate. The Treasury has taken IN
So, loo. 600 more than it has paid out during the
week. slightly diminishing bank deposits The
situation at Washington does not promise any
early action in regard to the surplus, and even
the bill authorizing purchases OF bonds may be
delayed Domestic exchanges are but slightly
in favor of New York, and the movement of
money this way to have ceased, with
some tendency TO outgoing in the direction of
Boston. At interior points the supply of money
is everywhere reported ample and collections
ars, on the whole, improving, and especially in
the Northwest.
Trade in breads.uffs is hindered by foreign un-
certainties, which keep alive hopes of war and
higher prices Corn aud oats have declined
about lie each, while meat has risen as much.
but is weak again; no change is noticeable in
hog products; oil has risen about &c, while cot
ton has weakened. Sales abroad and the lack
OF domestic demand weaken coffee, aud in the
sugar trade Philadelphia house offers TO UNDER
sell the .-ust, and at Boston there is a rumor
of a split, while from San Francisco news comes
of organized opposition by Spreckels and others.
Reports that the copper syndicate has secured
the Calumet e. Hecla output for years lead 9TH
er producers 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 cot
tons. though print cloths are a shade easier in
the jobbng trade growing activity Is noticed.
But in wooens the prospect OF improvement is
disturbed by renewal OF the large auction sales,
The business failures occurring throughout
the country during the last seven days number,
for the United States, 237; for Canada 80, or a
total of 27O as compared with total of 273 last
week and 2S9 the previous week. For the
responding week of last year the figures
209, made up of I56 in the United States and %
in Canada. For the last four weeks the agere-
gate has been 95I in the United States against
500 last year, and 154 In Canada, against AL