The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1889-05-15
CONDITIONS OF TRADE.
Some Branches of b usiness Are Dong Well,
Others the Reverse.


NEW YORK, May 1O.-R. G. Dun & Co.'s
weekly review of trade says: 1t is the most
prominent characteristic of the present situa-
ton throughout the country that the usual
consistency of commercial action is lacking;
transactions and results for some branches Of
business are highly satisfactory, and for others
much the reverse. Many iron works are clos
ing, for example, but many are doing remark
ably well; many woolen mills are idle, but
others are working full time with fair profits
The approaching transition from one crop year
to another, the recent change of administra-
ton, the changes in the interstate law and the
rapid development OF manufactures IN the
South are producing effects which cannot be
fully measured
Iron production has begun to decline, the out
put weekly OF anthracite and bituminous May
l being only 133,7 IA tons, decrease of 4,525
tons weekly since April 1. But the announce
ment of the Thomas iron company that il will
supply No. foundry at S16.5O at tidewater, and
Grey forge at SIS or lower, if necessary, to meet
southern competition. is expected to accelerate
the reduction OF output. The largest Virginia
concern has reduced It's price Sl.50 in return,
and Alabama iron has previously been selling
mere at SO. Prices are lower at Pittsburg also,
but there Is better feeling in finished bar iron
there and at Philadelphia, and the demand for
plate, pipe. sheet and structural iron continues
satisfactory. The coal market is still unsettled.
The wool market goes lower while waiting
for adequate new supplies, and the average OF
lO4 qualities May was 24.3c against 24.Sc
April l. The future depends upon the
state OF the dry goods market which is not now
encouraging. The cotton manufacture is active
and healthy. The trade in drugs and chemi-
Gals has become quite active with collections
excellent but dye-stuffs are dull. A speeula-
tive movement in bread-stuffs has developed
again, apparently based on the theory that,
although the coming crop may be very large,
there will be enough actual scarcity in July,
before new wheat comes forward freely, 10 ena-
bic traders to unload. Wheat has advanced
1Kc, corn 11sc and oats 114c with an ad-
vance of 15c per 100 pounds in hogs and lard.
Oil has declined 31Sc and cotton a sixteenth,
with sales of 67S,000 bales here for the week.
\ speculative movement lifts rubber to 65
cents for parahne; ii is not supposed TO have
lasting force. The grocery trade has been
active. In sugar the demand is confined TO
actual needs. In spite of some speculative
commodities is a little lower than 1t was for
Nay p
The stock market ends at exactly the average
of a week ago, the default in the st. Louis q
Arkansas being the more prominent cause of
recent weakness. But the large exports of
d, which began a week ago, and the absorp-
ton of $4,000OOO by the treasury since May 3,
also have some effect A sharp demand for
money at Cleveland causes slight stringency.
The outlook in the Northwest is regarded
much more confidently since the recent rains.
Everywhere the crop prospects are encourag-
ing. with the season more advanced than usual,
and the acreage in wheat considerably in
creased.
The business failures number 227, as COM
pared with 2l4 last week and 213 the week pre-
vious. For the corresponding week OF last
year the figures were 209.