The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-03-02
NO CHANGE IN SIGHT
FIRST TWO MONTHS OF THE YEAR
SHOW LITTLE RELIEF TO TRADE.
Hardly Any Perceptible Encourage
ment Noted by Dun s Co.'s and
Dradstreefs Weekly Review.

saas&
NEW YORK March 1.--R. G. Dun &
Co.'S weekly review of trade, which issues
tomorrow, will say: No gold goes out,
though sterling exchange has risen close
to the exporting point and it does not yet
appear that the syndicate has made any
effect to control the exchange market. Lon
don has. sold about 10000 shares of stock
during the week and the market is distinct
~ lower for railroad shares, though a
shade stronger for trusts. The stock mar
ket waits abjectly for London and foreign
ers show thus far more disposition to sell
than to buy. Withdrawals of gold by re-
demption Of legal tenders have not ceased,
but since the closing of the syndicate con-
tract have averaged about $4,000 per day.
Wheat is 115c higher. but clearly not be-
cause Western receipts are a trle less
than a year ago, nor because exports from
the Atlantic coast are small. Spasms of
speculative activity must be expected during
every season, and when prices at the
bottom such spasms can only mean an adj
vance. Nothing is seen to justify any ma
terial rise. as supplies in sight do not de-
crease more than they would naturally on
account of bad weather. Corn is only
shade higher, with Western receipts much
smaller than last year. Cotton dropped
week ago to $50 cents. the lowest point
ever known since modern classified tons
were adopted. and has not yet risen
age this year is as vigorous ever. The
whole market turns the fact that stocks
of American cotton here and abroad are
considerably larger tnan ever.
The industrials make very slow gains
where they make any Little is said Of
the .stoppage of the Edgar Thompson steel
works, though many thousand hands de-
pend on its operation. because the Carnegie
company has purchased $1,000 tons Bessemer
mig nj 50 o. tn BIO Pitfg1Ilrg a. Drce in
dicating that the biggest concern in west
ern Pennsylvania does not want to make
iron for less At other markets pig iron
has been quiet and elsewhere, at Pitts
burg. structural orders account for a large
share of the new business reported. though
activity in wire, wire rods and barbed wire
still continues. Bar iron and steel are
firmer at Pittsburg. but wienout change in
consumption in January does not seem to
have more than matched the reduced pro-
duction. There is more business in lake
copper at $50 cents, with some offerings at
9.5 cents, and forced sales have depressed
lead to 81 cents Tin is also weaker at 81
cents with heavy importa lions.
The market for cotton goods Is fairly ac-
tive, and. the demand improves in some
appointing. though this week there has
been no sensational reduction in prices. I'm
doubtedly the accumulation OF goods con-
Of the trade. The sales of wool at the three
chief markets during the last month have
year, and 90 $4,000 lbs for the same weeks
two years ago and while the mills making
low-grade goods are fairy supplied with
that numerous cancellations are reported,
indicating that the goods supplied at excap-
tation of buyers. On the other hand the
demand for the goods of a better grade
seems little better than expected
Failures for the past week have been $50
in the United States, against 2e1 last year,
and In Canada thirty-eisht, against forty
three last year.
Brndstreet's Weekly Review.
NEW YORK, March 1.-Bradstreet's to-
morrow will say: While the general course
of trade during the past two months of the
current year has been disappointing, Febru-
airy ends and March begins with tangible,
though not, as yet, satisfactory signs of
improvement. Large Eastern jobbers of dry
goods report trade meeting present wants
only that foreign dry goods are active and
competitive domestic fabrics comparatively
slow. Heavy arrivals of foreign woods de-
press the market. Domestic mills are grad
ually finishing spring orders. Exports of
wheat Gncludfng flour as wheat, both
coasts of the United States, this week,
amount TO 2,GS9,000 bu, against 2,9So,00o bu
last week. 2927,000 bu i'm the week a year
ago, 3.251, o60 bu in the last week OF Febrll-
airy, 1893, and 2908, 900 bu in the correspond
ing week OF 1892. Two Independent caicula-
tionS as to the wheat remaining in the
United States March /, 1895, indicate that
the total quantity in the country back of
available supplies is somewhat in excess of
10o. 100000 blu, as compared with perhaps no.
100000 bu year ago. The approximate to-
tai quantity of wheat at available points
throughout the United States and back of
the same at the present time is about 204.-
100000 bu. whereas one year ago the cor
responding total was 2460o9 600 bu Stock
speculation in the New York market has
been irregular. Rearish influences were
aroused by the advance of exchange rates
and the accompanying advance of revised
foreign public interest in the market.
The selling. however, seems to have been
mainly short stock and at the end of the
week there is a rally on the short interest,
due to the absence of gold shipments.