The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1889-09-01
A GOOD SEASON FOR TRADE
The Outlook for the Fall Months Is En-.
couraging to Bankers and Merchants.
Money Is Plenty, and at South Meridian Street
Houses the Best Feeling Prevails, on Ac-
count of an Increase in Business.

There is no lack of money here at this
time for legitimate business purposes.D
Manager w. w. Woolien, of the Indianap-
oils clearinghouse. said. yesterday, in re-
ply to an inquiry of n Journal reporter. Ct
think" he continued, 'the prospect for fall
business a favorable one. The figures of
the association show a greater increase in
the clearings. and the totals last week,
which included only five days business.
one holiday occurring. were nearly as large
as those for the corresponding week in last
year, which included six days work.
Inc banks here are now in
good condition to furnish money for
anybody who wants to do a proper business
and can furnish proper security. and / pre-
sumo a half million dollars could be had
Tor such purposes, If requests were backed
up by the necessary collateral. This is a
very different state of affairs from that
which formerly prevailed here. when the
opening of nearly every fall season was
characterized by n scarcity of money!
What was tho occasion of former search
ties heres"
Usually the demand that grew ont of
ing grain. We used TO nave a
large number of forwarders here.
whose necessities, after the crops were
harvested and came on the market, were
y klCoOs 4nCtO nlCn uSudlll 4OI WnAE
funds the banks were able to loan, and the
result was a scarcity for those engaged in
other branches of business. The situation
has changed materially in that respect.
The forwarders' instead of being located in
particular localities, are more widely
scattered, and there is not that strain on
particular centers that used TO be felt
periodically in connection with the grain
movement"
Have you airy. explanation for the
changes in the graia trader"
Yes; l think they resulted largely from
the operations of the Observation-Disclosures
law passed by congress several years
since. Before that law was passed most
grain-deale1s loestea in large railroad
centers had special privileges in the way of
rebates from the roads. which enabled them
to contrIi The trate 10 a considerable ex-
tent. Tie Haen ~ ragged in the same line of
the result was the business was
concentrated At particu lar localities. and
indianapolis came IL for a large share of 1t.
from granting special privileges to p~articu-
lar shippers. and every tub is supposed to
stand on its own bottom, the business is
more evenly divided"
street express satisfaction at what the sum
mer trade has promised them for that about
to begin. Seven months of the year Ia
gone" remarked o wholesale man yester-
Ody, anu Il 10 nov KNOW IndJ III the twenty
five years l have been in business on this
street that the wholesale men have been in
better shape financially. Nor have they
had a brighter outlook for a good fall
trade" This led to asking a dry goodsman
as to- his business, and he stated that his
sales had been the largest in the history of
his firm. Retail merchants.v he added.
have abandoned the idea that to secure
good bargains they must 90 to one of the
Eastern markets. In buying nearer home
they are not SO apt to get large bills, as they
can replenish any time. This has some
thing to do with the increase in trade. Then
Indianapolis houses are carrying large lines
and meeting competition in prices square,
ly." A wholesale grocer stated that the
first five months of this year business was
somewhat off. hut during the last two
months all the houses had been doing bet
ter. The Wholesale Grocers' Association
he said, has done much to help MS out in
maintaining prices, as there has been less
cutting than at any time for many years.
There are three more wholesale grocery
houses than in IsSs. and, of course, they
The boot and shoe men say they have had
an excellent trade all the year, and sold
more goods than in 1883. The hardware
business has been excellent, the large
amount of building going on in the city
and over the State creating a brisk demand
for goods in that line. Druggists have had
a good trade, sales of oils and paints
being large, as, in fact, W. been all
staple drugs. Leather merchants saw
their trade averages well with for
mer years. Iron men and dealers in
timers supplies have sold more goods than
in the first seven months of 1888. Dealers
in saddlery and harness also report having
had a brisk trade most of the time, with
sales fully up to those of any former year.
One of the surprises was the report from
the stove manufacturers who have houses
on Meridian street. A member of the In
~dianapolis Stove Company says orders for
fall are now Go per cent. in excess of those
on the first day of September, 1883, and
that Notwithstanding the introduction of
natural gas in a large part of Indiana and
Ohio. Wholesale confectioners speak of
having had a good trade. Their best busi-
ness. however, will be from now to New
Years in supplying the holiday demand