The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-02-23
BUSINESS is HANGING
READY BIDS FOR bonds REMOVED
ONE SOURCE OF APPREHENSION.
DUN x Co.'s weekly Review Notes
that Trade Is About ON Dead
Level and May Grow Better.

NEW YORK, Feb. pr. G. Dun & Co.'S
weekly review of trade which issues to-
morrow will say: The surprising success
of the new loan and the great confidence
IT has given to investors on both sides of
the water and to business here encourage
many to hope that it may be the beginning
of a real recovery. In twenty-five minutes
here subscriptions are supposed to have
been at least five times the amount of bonds
offered, and in two hours at London they
were twenty times the amount there Of
fered. Considering the power which control
of these bonds gives to regulate foreign
exchanges and to prevent exports of gold,
the transaction has. indeed. greatly changed
the financial situation in spite of the fact
that government revenues are still deficient
and that domestic trade shows scarcely any
gain yet. The industries are not en-
larging production, nor have prices for farm
products improved. But d very important
source Of apprehension and hinderance has,
for the time at least, been removed. Wheat
fell to So cents Saturday last and has re-
covered to 81, only a quarter below the price
week ago, while corn, cotton and pork
are unchanged and hogs and lard are a
shade lower. Western receipts of wheat
are nearly as large as last year, though for
three weeks about 40 per cent. smaller, ow-
ing to the storms The exports are a little
larger than year ago and yet are not
large. Cotton has refused to advance,
though there has been much talk about
curtaiiment of acreage this year, and re-
ceipts have sharply increased The decrease
was apparently owing to the unprecendent-
ed weather at the South, and the market is
more influenced by the certain over supply
bic shrinkage in yield next fall. AS the
market for goods is dull here and abroad
the fact that visible stocks of American
are about 100000 bales larger than in 1892
at date JuStifies expectation that the sur
plus carried over will be large.
Deallngs In iron and its products are
moderate In volume. with some encourage
ment in most branches, though structural
works at Pittsburg are very busy and de-
never been surpassed. But nothing is do
ing in rails, plates quiet and bar is as
low low as s.. ever though in rather better. de-
moderately large, with one transaction at
Pittsburg Of 10000 tons Bessemer at $40,
but prices do not improve. Tin is weaker
at 13.3 cents for February; the Calumet and
Hecia has reduced its price for copper to
a sas cents a the January output being 1854
clined to 81 cents, while tin plates are
lower with large arrivals.
Textile products show few changes, but
those downward. Cottons are meeting an
indifferent demand, and New York mills
"A bleached have been reduced to 91a cents
and Lonsdale bleaehed to 5s4 cents, and in
cheaper goods and brown sneetings prices
are irregular. better demand appears for
the finer prints. but fancy calicos are quiet
and there is only the average recorder bust
ness for dress goods. In light weight wool
ems the recorders continue later than usual,
and the preliminary purchases of medium
and low heavy goods are larger than a
year ago, some mills having business until
April, while in the higher grades there is
more promising demands. The terminal
ton of a strike at Philadelphia sets more
carpet mills to work and the demand is
fair, while in dress goods little is doing
Sales of wool at the chief markets in three
weeks of February were Is, $50 pounds
against 180l0,8 800 two years ago.
The failures this hay haan
in the United States against 2SS last year
and in Canada So against 81 last year.