The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1889-08-03
INDIANAPOLIS MARKETS.
Trade Tapering off to a Small Point as the
End of the Week Approaches.

Trade Taperfng on to q Small Point the
End of the Week Approaches.
INDIANAPOLIS, Aug. q
Business was dull in all departments of
trade to-day, but, as it was Friday, no one
seemed disposed to grumble at it. In
fact. judging by the general expression
dealers would have been dieagreeably sur
prised had there been much activity, since
that state of affairs would have been
against precedent in the closing days of
the week in what is always regarded as the
dull season. There is no change in the dry
goods trade. All that dealers have to say
is that trade is better than one year ago,
and they seem very we'll content with that
looking forward hopefully to an active fall
business. In groceries there is no change,
except that coffees of all grades have ad-
ures. Sugars are still held firmly at
the reduction noted last week. The
New York Commercial Bulletin says, ed
itOrially, on the sugar question: THE SUI
gar Trust undertakes to control market
which, III Its normal condition, takes about
5000 million pounds of sugar yearly. The
power of the consumers to defeat this COM
binatiOn is enormous, and can be used with
great rapidity. A shrinkage of a fifth in
the consumption of sugar in this country
"
sugar, while no estimate of the years de-
fciency in the worlds supply that we can
find has exceeded 400 million pounds. The
fact that sugar is to very large extent
used by people OF narrow means, who wOuld
be likely to exercise economy when the
price is high, may alter the requirements
more than ANYBODY has anticipated The
same cause would seem even more likely
where the usual scale of expenses
for working families is narrower.
Assuming that the European cOnsuIp-
ton is about three million tons yearly,
the price in London having about doubled
within the past two years it might be with
some confidence anticipated that shrink
age of large Importance would result. But
statistics thus far published do not indicate
such a change, though accurate records of
the stocks of refined sugar held by the dis
tributing trade are not available there or
on this side of the ocean. The fact that the
quantity consumed per head has of late
years greatly increased shows that CORE
spending decrease IS possible; the inhab-
itants who were satisfied in this country
not many years ago. with a supply of forty
pounds per capita each year are certainly
able to return to their old habits in that
particular. The trust in this country
cent per pound for refining to the grade
of standard white more than was charged
two years ago. If this difference can be
maintained, the profit would be large on all
the sugar marketed. and any surplus stocks
could still be carried until required. But
the difficulty here is that the high prices
arc likely to stimulate production of raw
sugar to the utmost. while tending
to check consumption abroad and
here. Whenever the supply begins to
either take the surplus and hold it off the
market or suffer prices both of raw and re-
fined sugar to go down. With cheaper raw
materials other refners could undersell the
trust. or foreign refined sugar might be
imported, even at the present rate of duty,
unless the trust should reduce its price and
it's profits. American consumers could
probably force the trust to liQuidate by
curtailing their purchases only as much as
the use of copper was curtailed. If no such
methods are employed, Congress is likely to
take up the sugar question at the opening
of the extra session, which Is now expected
to commence in October Without waiting
for a final settlement of the whole question,
Congress will have power by a brief act to
suspend all higher duties on refined than on
raw sugar, and for that course even some
ardent advocates of protection find a war
rant in the claim that the object and effect
| of the combination has been to close part of
| the American works. Some of them even
| go so far as to favor a permanent enactment
| empowering the President to suspend the
collection of any duty on imports so long as
| the price of the article affected by that duty
| is controlled in this country by any trust.n
In produce we find little change. Chick
ems are more plentiful. Shippers have not
reduced prices, but are operating carefully
Eggs are rather scarce. as is also butter OF
| good quality. The fruit and vegetable
market is nearly demoralized by heavy re.
ceipts of some articles, notably apples and
tomatoes.
| GRAIN.
There is no change in wheat. The market con
tinues dull on account Of the fact that the bull
| OF receipts grade badly. There is a fair demand
| for No. red, but of grades can only be disposed
OF on such terms as buyers Offer The local de-
mand continues to absorb all arrivals of good
mixed corn. Oats are in light request, with
prices holding steady. There Is also a good ship
ping inquiry for hay. The total inspections of
81 kinds to-day were 46 cars against SO yester
| day. or the 81 cars OF wheat Is graded No.
| and II rejected. We quote:
| Wheat-New No. 2 red, 76 d76iec. No. 3 red, ~
07Sc; rejected, 64c; understandable, SIC; Au
| gust, 75175l2c.
| Corn-No. white. IS iec; No. white, 3siac;
/ No. white one color. 3sc. two color a7loc