The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-03-23
THE TRADE OUTLOOK
SMALL SIGNS OF GROWING BETTER
CONDITIONS GENERALLY.
However, Neither Dun & Co.. Nor
Bradstreet Will Predict Anything
Good for the Near Future.

NEW YORK, March Pr. G. Dun &
Co.'S weekly review of trade, which issues
Tomorrow will say: Indications of i'm
provement in business grow more distinct.
The most apparent is the speculative adj
vance in cotton and in stocks, these being
the least reliable, nor can either be said
to reflect actual Improvement in business
conditions. Railroad earnings are scarcely
better, and the speculation is largely based
on expectation of more effective monopoly
in coal and some other products. London
was buying largely, but is likely to sell
on any rise. Cotton does not rise, but there
is more demand for goods. More valuable
indications are that the volume of domestic
trade gains a little, money is in much
better legitimate demand, and the force
of hands at work gradually increases in
some industries and in others is restricted
only by strikes, which are presumably
temporary. The rise in cotton to 6.31 cents
still seems to have scarcely any contact
with the facts of demand and supply, but
had a very substantial basis nevertheless,
If, as some maintain, more cotton had been
sold in this country for future delivery
than could be produced here until another
crop comes. American stocks last Friday
were 1,135,026 bales, against 1,154, 700 bales
last year, with the general expectation
that something over 100000 bales will yet
come forward, while foreign stocks of Amer
lean are 100000 bales greater than at this
date after the great crop of 1891. Receipts
r ren1lnu no ia atser a 6aa the than m 9 belief t haf
the next crop will be small. The rise in
wheat. which started with the report in
farmers hands, has been followed by a
reaction. so that prices are lower than they
were prior to that report, having fallen
l,9SS,2 l4 bushels, against 1858, 331 last year
and for three weeks were practically equal
to last years, while Atlantic exports are
small. Corn has not followed, but after
a rise to 515sc, holds the price of d week
ago. receipts being about a third Of last
years and exports insignificant. Pork has
declined 25 cents per barrel, and lard 10
cents per 100 pounds.
raises the cost of fuel for a large proper
ton of the iron manufactures but as yet
ucts as no increase in demand appears.
Possibly it is hoped that larger buying
pig iron and all products will be rendered
more costly, though the large excess of
in the way. One sale Of 10000 tons steel
rails. one cast pipe contract for 5000 tons,
a bridge and five building contracts aggre-
eating nearly 5000 tons, are reported this
week, but pig iron is weak without change
both at the East and at Pittsburg. and
no change of consequence is noted in the
demand for finished products. Copper con-
tinues weaker at 9.25 cents for lake, Amer
tons. and foreign 6.739, while tin has risen
sharply to 1879 cents. Lead is weaker with
heavy sales, 1900 tons to domestic and 1900
to foreign takers at 3.05 to 3.01 cents, but
large sales of tin plate are reported with
prices a shade stronger.
The rise In cotton has stimulated buyine
of goods and given confidence to agents.
Heavy transactions and some advances in
not as yet in the finer. While many orders
are detained BY labor difficulties, there is
appear to be justified in some eases by in
ferior quality, but in others not justified
at AL :, 40 Orders ngg for bns,d fall are at present
Sales of wool gradually decrease, and for
the week are smaller than last year, 4.17t.-
800 pounds. against 4,33S.S0o. For three
weeks of March sales Indicate about 20 per
cent. of a full assumption
Failures during the past week have been
27S in the United States, against 24 last
year, and thirty-five in Canada, against
fifty last year.
Bradstreet's Weekly Review.
NEW YORK. March 22-Rradstreets to-
morrow will say: Improvement in general
trade is more marked, but not general. 1t
is more conspicuous at larger New England
points. notably Boston and Providence, at
New York, Pittsburg, Cincinnati, Louisville
and other centers along the Ohio-river val
ley, to St Louis and as far west as Kan
sas City. Similar reports come from Chi
cago, Milwaukee and st. Paul, the first
named announcing that smaller quantities
of 4-per-cept. money are being offered, the
banks working steadily towards a 5-per-
cent. basis: demand for loans continues to
improve and reserves are lower than for a
year past. From other cities a better feel
ing is reported, based on the recently de-
veloped strength in cotton, wheat and flour.
The prevalence of the inquiry whether this
upward movement is the beginning of a
permanent recovery from the two years of
depression is of itself significant. While
among important price movements there are
reactions Tor wheat, oats ana lard from
the advances of last week, this was to be
expected as the outcome of a selling move
ment to take profits, emphasized by favor
able crop reports from abroad. Quotations
for anthracite coal have been demoralized,
and there is little hope for them until those
who make them desire TO have prices higher
and steady. Eggs continue the decline OF
a week ago, and live hogs at some Western
points are SC lower. Jobbers of ginghams
have closed out their stocks in some cases
by cut prices, but these cover about all
the noteworthy declines in prices.
Wool remains unchanged, although the
volume of business is smaller because it is
and Australian woods are more popular.
No changes in quotations are noted for
hand, cotton has jumped up Slice, corn is
1Ac higher. and butter has scored another
advance. On the Pacific coast lumber is
higher and advancing, and at central West
ern markets leather Is up 1c per pound,
and calf skins &c TO sc per foot. Live cattle
have also advanced, as has coke, which.
taken in connection with increased wages
paid iron and steel workers at Pitts5urg,
indicates an advance for Bessemer pig iron
and billets. Increased fir1nness is reported
in some varieties of cotton goods, due to
the advance in cotton, some varieties having
been marked up hc by manufacturers.
Exports of wheat, including -four as
wheat, from both coasts were equal to g
998, $3.50 bushels this week, or 207, 900 bushels
more than last week. more than eco. 600
bushels In excess Of quantity shipped abroad
in the third week of March. 1894, and more
than 100000 bushels in excess of the total
pared with the corresponding period of
1892 is about AGO, 600 bushels, and with 1891
more than 10000 bushels. Thus, for the
first time in many months, the exports of
wheat and flour have been In excess OF
corresponding totals in four preceding
years. Wholesale trade has improved at
Toronto with inhhars Of dry goods and