The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1894-06-06
NOT so BAD AS EXPECTED.
THE MINERS STRIKE AND ITS Eff
Feet ON BUSINESS.
Condition of Affairs PrecIudinS an
Increase of Trade-A Decrease I'm
CIearinEs of Only EOS Per Cent
Business Failures.


NEW YORK, June 1-R. G. Dun &
Co.'S weekly review of trade will say:
1T is a sign of cheering import that
In finished business, represented by
clearings and railway tonnage, there has
been less decrease since the strike be-
gan than might be expected. But In
inchoate business. the orders which start
the wheels, to result In tonnage and pay
ment weeks or months later, there seems
to be an actual decrease. Meanwhile the
consequent interruption or traffic and
industry increases. The stoppage of iron
furnaces between the Allegheny noun
tains and the Mississippi river has been
complete and a great number Of concerns
manufacturing iron and others requiring
soft coal or coke for fuel have been
forced to stop. Business cannot increase
In volume under such circumstances, and
yet payments through all clearing houses
for the week show a decrease Of only
2O.s per cent compared with last year.
Though q large number Of works are
idle, the demand for products isn't what
might be expected either in volume or in
urgency. The output OF iron and steel
has been suddenly and sharply reduced.
but the reduced supply seems about as
sufficient for the demand as It was
month ago. except In Bessemer. Sales of
small lots Of Bessemer pig at places as
distant as West Troy and Duluth for
transportation to the Carnegie works.
near Pittsburg, disclose how completely
stocks are exhausted, and sales for de-
livery in July and August at S11 to S1115,
a price $3.50 higher than prevailed a few
weeks ago. indicates the belief that the
termination Of the strike will not soon
bring back the old prices.
But for most products, notwithstand-
ing the interruption, the demand is I'M
expectedly narrow. and buyers feel that
the present advance is but temporary.
Shipments OF boots and shoes for the
week. and for the past FOUR weeks, are
little larger than year ago, and there
are orders for some staple products TO
warrant work 70 some time TO come,
but many factories are discharging cut
ters or otherwise reducing hands, be
cause their orders do not justify hope Of
running much longer.
Sales of wool at three chief markets
against 2.766.000 pounds last week, about
100000 pounds per week being required
from these markets for full supply. New
fine territory and Texas wool has sold at
Sc to- &c. and soc to &c, cleaned, appears to
be about the ruling price, but at Boston
generalization makes prices nominal.
Again the lowest price ever recorded
has been made for cash wheat, 56kc, at
New York, against 75c year ago, while
the average in May. 1892. was 90c and in
April, 1891, $1.1Sl5,. Western receipts are
naturally small, only 1,55S.S64 bushels for
the week. against 2.915.599 last year, but
Atlantic exports were only sO7. 800 bushels,
against 2241, O91 last year. Corn is stronger,
with exports about half as large as a
year ago. and the unfavorable outlook for
oats results in higher price. Pork pro-
ducts are weak, with continuing large
receipts Cotton has varied little. though
receipts from plantations have fallen off.
for stocks In sight are very large. A
new crop, for which prospects are dectd-
edly good, is drawing near and the de-
mand for goods is uncertain.
Liabilities reported in failures for the
fourth week of May were 81, .0S7, and
for four weeks ending May "a. S11, 391 .O42,
Of which s4.445, sos were of manufacturing
and s., S91 of trading concerns. Re
ports yet to come in may increase the
aggregate to $14,0OO,C0O for the month.
Failures this week have been 1873 in the
OniIeQ states. against Soo idSI years. ana
twenty-seven in Canada, against twenty
one last year. Two failures, both bank
ing. are for 800, 900 or more"
Bradstreet's Report.
Bradstreet's tomorrow will say:
THE decidedly unfavorable condition
Of general trade reported last week con-
tinues without material improvement
Continued delay of tariff legislation pro-
fba =tfA aFfaCf On xr-b0
mess The great coal strike continues
without sign of early Improvement no
concession having been made by either
side More mills, factories and furnaces
have closed their doors for want Of fuel.
The pig iron industry of the central
western states is practically at a stand
still for want Of soft coal or coke. At
Pittsburg and vicinity the scarcity of
fuel has greatly stagnated business
There are no new labor strikes of i'm
portance to record, but almost all of
those previously reported are in exist
ence. The favorable features come from
Duluth, Omaha, Augusta and Jackson
vile. Stimulation OF trade at the Lake
Superior port is largely due to the rapid
shipments of bltuninous coal, which had
been accumulated. while needed rains
states crop prospects and caused more
active purchases from Omaha jObbers
Augusta, Ga, reports gain in the vol
urne of business as compared with the
last three weeks and that cotton manu-
facturers have orders ahead and are run
ming on full time, while needed rains
throughout the Florida vegetable dis
tricts have stimulated the demand so
that Jacksonville trade is brisk. At most
western cities there has been practically
no change from the depression of last
week. Concessions i'm prices for woolens
for future delivery fail to secure pur-
chases from New England manufactur-
ers."
Clearings: New York, $685.. 240 III a de-
crease Of 21.S per cent; cities excluding
New York, S32S, 500, 20S. a decrease of 2O.3
per cent; Indianapolis S2,S42, 154, a de-
crease of 22.4 per cent.