The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1894-10-06
LAY 1T ON THE CROPS
Dun a. CO. ANALYZE THE CAUSE OF
SLOW BUSINESS IMPROVEMENT.
Cotton and Wheat Markets Are Flood
ed, Depressing Both North and
SOuth-BradStreet's Review.

NEW YORK, Oct. 5.-Dun's weekly re-
view of trade, which issues tomorrow,
will say: With the chief money crops of
the West and South sinking in value il is
not strange that purchases of manu-
featured products are smaller than was ex-
pected. Wheat has touched the lowest
point ever known for options and cotton
the lowest ever known in any form with the
present classification. and the accumula-
ton Of stocks in both products is discour-
aging to purchasers for an advance. Pro-
ducers are compelled to sell at prices be-
low the ordinary cost of raising crops, and
in some Western States there is also a Ia
mentable failure of the corn crop. Under
the circumstances it would be very strange
IL the demand for manufactured products
should be quite as large as in other years.
Wheat suffers most from accumulation of
stocks in sight. which are far beyond what
is usually expected for the season, and the
exports in September were unusually small.
For the first week of October Atlantic ex-
ports were 1,097.3 73 bushels. against 1853, 746
bushels last year, and Western receipts
were only 4,615, 600 bushels, against 6,130,eS7
bushels last year. and these figures give
some encouragement, but have little influ-
ence in view OF the unusual visible supply.
The price for cash wheat is a small frac-
ton higher for the week. Corn receipts at
the West have only been a third as large as
they were last year, with exports amount
ing to nothing. but the price has not fur
Their declined after the heavy fall during
the previous fortnight. Pork products are
weak in tone. though only lard is quotably
lower. Cotton is &c lower, the cash
price being the lowest known for forty-five
years, and, considering the difference in
classification, 1t Is. perhaps, lower than at
any time since 1S49, and estimates that the
crop is more than 10000, 900 bales are more
commonly credited now than stimate of
favorable weather the yield seems likely to
be the largest ever known.
The condition of the industries is, in some
respects, more satisfactory. Evidently
there Is a larger demand for iron products
than there was a month ago., though the
increase in output has been somewhat
greater than the increase in demand, so
that prices steadily tend downward. Bes-
and bar iron at 95c, with steel bars at 81. 05,
while a contract to suppress the principal
Western competitor in nail manufacture is
expected to hold the price at 81 for wire
and So cents for cut nails. The structural
market Is fairly active at the West, without
change. at the East. and while the coke
149, rs tons for the week, the price is de-
Ginning and steps are being taken to limit
the supply. The boot and shoe trade con-
tinues to deliver more goods than in any
previous year. as it did in September. and
most of the works still have orders for
one or two months ahead, although mainly
for low and medium-priced goods. There is
a little better demand this week for goods
OF higher quality. however, and the demand
for leather is still reducing the reserve.
The failures for the past week have been
29 in the United States, against 800 last
year. and thirty-nine in Canada, against
forty-five last year.