The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1894-03-24
PRICES FALLING OFF
Commodities the Country Over
Lower Than Ever Known.
Dun & Co. Note that While Trade Is In
creasing in Volume 1t Is Growing
Less Profitable.

NEW YORK, March D. r. G. Dun &
Co.'S weekly review Of trade says: It is
perplexing 10 be Obliged 10 report that
business grows larger in volume and at
the same time not more profitable Tn
certainty does not diminish but has rather
increased. in the judgment of many COM
mercial bodies which have urged the Pres
ident 10 veto the seigniOrage BILL Prices
OF commodities do not rise, but are on the
whole about Is per cent lower than last
week, though then the lowest ever known
in this country. and are 1873 per cent. lower
than a year ago. More idle mills are at
work. though the proportion of products
and force employed is still from fifth TO
a third In different DranchesaOf industry.
and many mills are stopping because their
orders have run out, even while a larger
number are starting with orders enough
for a time. The starting of four furnaces
by the Illinois Steel Company and one
other at Pittsburg increases the output of
iron, and some large sales have been made
at the lowest prices yet reported, with in
dications Of continued demand for struc-
tural work. especially at the West. On
the other hand. the demand for wire in
various forms. which led the way to i'm
prCvement, seems to slacken and nails are
1 cent A reduction Of so cents in freights
frcm Pittsburg to tldewater only adds to
Western business, while it takes from the
Eastern. In minor metals business is a lit
tie larger but at the expense of a fur
Their decline to 9.5 cents for lake copper
while tin is steady, and lead a shade
higher. Demand for cotton goods is fairly
large, but with reduction in prices of some
grades, and the accumulation of print cloths
continues. A large auction sale OF silks
brought fairly satisfactory prices Sales
year Z3-9 per cent, though transactions his
month last year were about 40 per cent. be-
for such wool as is needed in manufacture
OF underwear. dress goods and wOrsted
suitngs, but fine heeces are almost I'M
salable, Ohio Xxx being quoted at 22c, and
carpet manufacturers buy sparingly, though
about half their machinery is active.
Wheat, cotton and pork have declined
shade below 60 cents at New York. West
ern receipts are 1.59S,379 bushels. against
only I013.209 bushels, against L295.S94 last
year, showing that even at current prices
the grain is not largely wanted abroad
Corn was cent stronger, with Western
receipts 2.S7i.6SS bushels. against 1856. 3D.
bushels last year. Cotton receipts from
plantations are again larger than last year,
to the disgust of prophets who have fore
told or perpendicular drop ever since
Jan !. The termination of the rebellion in
Brazil opens a new crop OF coffee, which
Is reported very large, but prices are as
yet steady. Cattle are low abroad, almost
beyond precedent, so that exports are re-
tarded. There is encouraging increase, the
first for many months, in east-bound ton
mage from Chicago. and at Indianapolis
the movement is almost large as last
lar, while west-bour1 tonnage Of high
Class merchandise is also large.
Failures for the Week ending March 10
involved liabilities OF Ony s., $685. IS and for
two weeks of March only s4S35.l10, of which
81, 257 were OF manufacturing and s., 49,
O69 of trading concerns Some deferred Ie-
ports will further swell the aggregate, but
at San Francisco the assumptions reported
now exceed the failures. A number of rail-
road receiverships are noticed, though none
OF Importance. The failures this week num-
Der pa in the United States. against 217
last year, and fifty in Canada, against
twenty-six last year. 1t Is noticeable that
Canadian failures are considerably increas-
ing.