The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1894-02-17
Low RECORDS MADE
Wheat, Silver, Iron, Coke and
Cotton on the Down Grade.
Dun & Co., However, Note the Crafty
ing Condition that No Big Fail
ures Have Occurred.

NEW YORK, Feb. 16.-R. G. Dun & Co.'S
weekly review OF trade says: This has been
a week of notwithstanding. In wheat, in
silver, IN some forms Of iron and steel, in
Connellsville coke and w~eIl-Enown cotton
and wo0len goods the lowest prices ever
known have been made. ard it is ~gratify-
ing that failures OF Importance have not
resulted. While no acton especially af-
fecting business prospects was taken at
WaShinton, the certain discussion OF rev.
enue and money measures and the uncer-
tainty regarding them have a constant I'M
favorable influence. and in different mar
kets have caused sudden h-uctuation1
Wheat, at 60&c, is not only lower by 40
than it was for a single day last year, but
lower by 1SAc than 1t had ever been in the
previous seventy-seven years. visible
supply OF 79, 600 bushels on Feb. 10, with
sales and receipts from farms continuing
large. has completely destroyed faith IN
the official reports OF the yield last year,
and caused enormous liquidation Receipts
last week were but 1,a0,Sl4 bushels. against
2,90l, 04S for the same week last year. At
lantic exports were only $500 bushels,
against 1,Ol3,0l5 last year, and the recent
important factor. Some trust companies
have arranged TO advance money against
wheat as collateral security, but with re-
suits not as yet encourag1ng; Corn and
other PRODUCTS huctuated but little, though
receipts OF corn were large. Cotton de-
clined an eighth. with increasing distruss
OF short crop estimates. The receipts from
plantations this week have been larger
than a year ago. and at no time small
OF 1893 was but 100000 bales, which would
mean that less than 10000 bales have yet
70 come into sight in over six months.
The slight recovery in prices or iron prod
ucts has not been maintained. Bessemer
pig has declined at Pittsburg 10 1905 and
grey forge TO S.65, and steel billets are sold
hO1nuy t1E thnra r-hfIA 0f DhfloHA1nhfa
rolling mill product are lower than ever.
The decline Is the more noteworthy be-
cause ar increase in the demand is reported
both in Eastern and Western markets,
especially in structural forms at the West
and here. where several large buildings are
projected. The demand for wire rods. nails
and fence continues remarkably large and
s~ustains prices, but rails are .stagnant-
Connellsville coke sells at sc. the lowest
creased for the week 1858 tons. only 81 per
cent. of the ovens are in use Heavy re-
duction In the price of lake ore is reported
with large contracts at 2.75, Cleveland de-
livery. Minor metals are weaker with re-
Str1cted consumption. or boots
and shoes from the East are - per cent.
less than a year ago. with cheaper grades
predominating in orders and In manufacture
and not many factories fully employed.
Textile industries do not seem to have
gained within the past week, for as many
works have closed as have resumed work,
and In wooden and cotton manufacturs
rather more. There has been a sharp break
:" ihA SAOOAo W 49, SCmO u OS Oos
known cottons have been put at the lowest
prices ever made, and there is more talk
of general closing OF mills. The demand
sales of wool decreased sharply after tha
brisk activity two weeks ago. being only
Ala, sol pounds for the week. against $685.
300 last year. Though some grades ara
scarce and prices relatively higher WeSt
than here. the markets do not advance.
600 smaller for the week than last year, and
for six weeks the increase has been only
$1,000, or ~ per cent but imports last
as last year, and for the year thus far the
decrease is about AZ per cent.
Failures for the week have been 323 in tho
United States, against 1877 last year. and
fifty-five in Canada, against thirty-six last
year. Though several were of some magnt-
tude, the aggregate of liabilities was ap-
parently below the weekly average for JAM
uary. For the week ending Feb. s the la
bilities thus far reported were only $4,07S.-
657. With nearly complete returns for JAM
uary the aggregate Of liabilities in 2,0Sc
failures is $50, 946, 497, of which 81, 63l, 800 was
of manufacturing and SIS, lS3, 40 or trading
concerns.
Bradstreet Reports big Increase
NEW YORK, Feb. 16.-Bradstreet's to-
morrow will say: Telegraphic advices from
leading trade centers make it plain that
the volume of general business since the
beginning OF the month hows a decrease
as compared with a corresponding portion
OF January tn1S year, anu IL Is CllliCuAs %
| course, to determine at this writing how
much of IL Is due to a natural temporary
recession Of the wave Of the incoming tide.
There is a disposition to continue diSposine
OF stocks and buy for immediate wants
until after the tariff question Is disposed
OF. This evidently is having some effect.
Commercial travellers for dry goods, cloth
ing, hardware. shoe and other houses m a
| number of instaces are on their way home
or nave arrived home, and report many
orders Of those secured dependent on the
passage or otherwise OF the tariff bill.
| Snow and storm have temporarily checked
business West, railroads being blocked.
| though Western advices say that the snow
| tivity in commercial lines is in dry goods
hats, shoes, rubbers, and South in planta,
ton supplies and fertilizers
| viouS records, with as little certainty as
previously that they have touched bottom
Anthracite coal production will continue
nave been cut % cents. Cattle and hogs al
| leading Western markets are in full supply
and 15c lower per 100 lbs. Wool is dull
with manufacturers working on orders and
buying as needed Rice is in good demand
and strong. Sugar is from n TO &c higher
Exports OF wheat 01our included, both
| coasts, equal zoos 600 bu, against 2.678.00
bu last week, 3,0s0.0OO blu in the second weei
Of February last year and 100000 bu II
that week of 1882: In , ,t5e first six weeks s Q,
stocks. United States and Canada de-
creased, net, $4,000 bu, and in the same
| portion of 1882 the net decrease was only
| S,025,OW bu. In a like portion OF last veal
the change In the size OF available stocks
was an increase OF L,096,00 bu, while in tn
past six weeks the net available supple.
| decreased T7,00 bu.
Business at Cleveland is quiet except fol
groceries. At Cincinnati there is Increases
inquiry, but no gain in volume. Building
operations at Detroit are smaller than ex
pected, and at Chicago there has been NJ
gain Of importance; in dry goods the vol
ume has decreased. Demand for leather L
4 halOw Ryn1cfafiOnS and stocks are heavy
The most favorable trade report is from
St. Louis, the distributive demand Tot
heavy textiles. shoes and clothing ther'
having been stimulated by stormy weather