The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1894-05-26

NEW YORK, May 25-R. G. Dun & Co.'S
weekly review OF trade tomorrow will says
Storms and floods. prolonged strikes ana
large exports OF gold have done their ut
most this week to give business a vacation
But the wants unsatisfed during the pass
year, belated and much lessened and yer
greater than those OF any other nation
have caused volume of trade quite largo
for the season. Prices and products still
tend downward without speculation. 1t L.
not surprising that farmers retain wheat at
present prices where they can. Corn has
been stronger. notwithstanding large re-
ceipts and insignificant exports. Cotton has
recovered a shade to nc, though receipta
for the week were nearly as large az
last year, and exports much smalleL Pork
products all declined with heavy receipts.
and coffee is also lower. The astonishing
cheapness of wheat and cotton Will affect,
the rapidity OF movement In the fall ana,
also Will directly lessen the amount of
money required in moving the crops.
While the iron industry especially. and
many others to some extent, are restricted
by scarcity of coal and coke, the number
of works resuming has been greater than
the number stopping from other causes. But
Ii is a symptom not 10 be overlooked that
the demand for manufactured products. in
stead Of increasing appears for the moment
rather smaller than before, and Indiffer-
ence of buyers is shown in cancellation of
orders hitherto given. Ii is a waiting sea-
son, but the disposition TO wait Is this year
Failures are diminishing in importancs
lsmply because nearly everything has
failed that cam. the. amount OF liabilities
for the third week in May being only 81
20i 1879, and for the three weeks, $7.S36,Sl2, OF
which $2,642,6N were OF manufacturing and
Of failures reported this week is 2s7 in the
United States, against 25S last year, and I'M
Canada twenty-eight. against fourteen last
year, and, again, there are noted scarcely
any of Importance.
The Iron Trade fin Close Quarters.
CLEVELAND. o.. May 2.-The Iron
Trade Review says: That iron ore has
touched its lowest point is recognized by
sellers and furnace men alike. That the
action OF the Senate on the ore tariff has
strengthened this belief Is evidenced by
the fact that transaction OF upwards OF
10000 tons of hard non-Bessemers for
Eastern delivery that had been hanging
fire was closed on the day following the
Senate vote. The scarcity OF coal is now
severely felt even by the largest Pittsburg
producer, it's accumulated store OF coke
having dwindled to small proportions. But
the paralysis Of the fuel trouble has af-
fected consumption well as production,
and there is not the rush for some kinds
of material that might be expected. Better
prices are being secured and high fuel
costs makes advances imperative. Besse-
mer pig has reached $3.50 at Pittsburg,
and Pittsburg brokers have ransacked the
lot of 1900 tons that had been I'm litigation
from the Minnesota Blast Furnace Com
pany's yard at Duluth. The price ic re-
ported to be S13 delivered. Troy, ~. Y, has
also contributed 10 Pittsburg. about 1000
tons being picked up there. Billets, OBJ
tainable in only small quantities., have sold
at $3.50 at Pittsburg. Finished material,
both East and West. has been sold for the
most part in small lots and at an advance
of 81 to s. a ton for plates and beams ana
channels. Southern selling points report
scarcity OF some grades Of Southern iron
and quotations are advanced p cents on
these, but late sales have been made at
Northern points on a basis Of s. at fur
mace for furnace gray forge and 1915 for
No. / foundry.