The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-09-07
. REACTION NOTICED
IRON PRODUCTS ADVANCED, But
OTHER MARKETS DULL.
Cotton Also shows Marked Improve
Weekly Review of Trade.

weekly review of trade says: There Is no
real reaction in business. Gains which were
recognized as temporary are vanishing, but
| there remains a decided increase over last
year at date, although prices average SIS
per cent. lower than a year ago. 1t needs
no keen observer to see that the reaction
against rapid advance Of prices is strong.
Hides were the first to rise. but a de-
cided break has come. Coke was suddenly
raised to $40. but recently sold at S1.10.
Wheat jumped over 20 cents to "a, but is
now slow OF sale at about IS cents. Wool
was late In rising. but has lost about *
OF a cent In average price within the past
fortnight. Iron still rises. the miners strik-
ing having hindered shipments of ore. but
with troops guarding the ore begins to
move. Gotten is strong. but has paused.
The general tendency to curtail purchases
where prices have notably advanced grows
clearer in boots and shoes, in wool and
In some products of iron.
The combinations have again advanced
prices Of bar iron 81 per ton and Of wire
nails 20 cents per keg. while Bessemer
is quoted at $40 at Pittsburg ard Eastern
manufacture from imported ore has again
commenced to supply Western consumers.
Special causes are the wholly unprecedented
bridge building. the continued demand for
building in cities and heavy ship building
on the lakes Consumption already hest
tates and railroads have not much ex-
banded their demands for rails. Copper is
also a shade weaker. with large supplies;
also tin. with $3.50 tons in visible stock,
domestic and foreign. and lead. with sales
of 1.5o0 tons domestic.
In the boot and shoe industry many shops
are discharging hands and in wooden manu-
facture a few works are closing for want
of orders. Sales of wool, which averaged
over 100000 pounds per week when great
speculative stocks were being taken. have
shrunk to 5,3S0,5O0 for the week. against
7,557.3CO for the same week in 1892. The
cotton manufacture has risen, cotton and
chance OF a great strike for higher. wages.
The brightest feature in all the horizon
Is the certainty that the crop of corn will
a small fraction and the surplus will go
into manufacture of meats, because, at
35.7 cents at New York, nearly A cents low
profitable use for corn. The latest reports
Of wheat threshing induced the west West
eTn Judges 1885, 6 90 f passel she and est With 4S q oS S1etS
added TO 10000 900 bushels brought over,
the supply will exceed all probable de-
1.3f7,352 bushels. flour included. against B.
7s9. $50 bushels last year. Pacific shipments
The one farm product which has been
strong because certainly short in yield rose
from $40 cents for spot cotton last week
| 10 30 on TUESDAY. Dut mas Since Deen weak
in spite of concerted official statements
that the decrease is 80 per cent. in some
States and q per cent. in Texas. The pub
lie observes much organized and skilled
labor in these reports and also sees, what
many spectators refuse to see, the 100000
bales of old American brought over. 1t Is
earnestly hoped that Southern agriculture
has not sustained so great a calamity. The
annual reports, showing a larger. yield last
year than has been supposed. only indicate
that more cotton must stay In the country
besides the unconsumed stocks abroad. A
quiet market without much change Of prices
for a time would be a blessing to the
Failures for the week have been 1856 in
the United States. against 219 last year.
and in Canada thirty-eight, against forty
seven last year.
Bradstreet's Weekly Review.
NEW YORK. Sept. 6.-Bradstreets to-
morrow will say: Favorable crop reports
from nearly all directions and a c%ontinu-
ance of the BOOM in steel and iron char
a~cterize the general trade situation. Latest
advices as to the corn crop have replaced
anxiety with confidence in the larger est
mates of the size of that crop and salts
faction with the outlook for trade this
autumn. Harvesting and threshing are in
terfering a little With business in the spring
wheat country. yet Duluth, Minneapolis
and St. Paul jobbers in general lines are
pushing for new business. In South Dakota
and Washington farmers show no DISPOSE
ton to sell their grain. California reports
perfect weather for harvesting. The other
side to the crop outlook is found in Texas,
where worms are said TO have seriously
damaged cotton in some sections. Iron and
steel prices have advanced from 81 10 81
further and demand at this time continues
In excess OF the output, which. probably.
almost equals the largest preceding rate OF
production. All finished products are begin
ming TO show the effects of higher prices
for raw iron and steel. Western iron. and
steel mills have orders TO keep them busy
Into 1896. and refuse 10 name prices for
future delivery. Apparently. every mill and
furnace In the country. is at work. and the
record of production. AS nearly all iron
makers bought a years supply of ore at
lowest prices. advances in wages and other
stems of cost to manufacturers have been
more than equalei by the advance OF
prices. Diversity of demand and certainty
OF heavy requests yet 10 come forward
point TO the IRON and steel boom as the
greatest on record here. Actual gains in
volume OF general trade this week are re-
corded at Seattle and Tacoma on the Pa
cifc coast st. Louis and Kansas City at
the West. Duluth and st. Paul IN the North
west. and Chattanooga, Augusta, Atlanta
and Memphis at the South.
United States and Canada, this weel:.
amount 10 2.2So.000 bushels. against 1871
9cs bushels last week. S.207.0 900 bushels in
the week a year ago, i.99o,00 bushels two
years ago, 1861 ,Go bushels in the week in
1892 and 4,726.C0 bushels in the like week
in 1891. Indian corn exports continue 10 ex-
pand. In the third week OF August the
total sent out was 1.195.o0 bushels; in the
following week Il was 1.l24.O0o bushels. and
est weeks shipment this year. compared
with 127, 0c0 bushels in the week q year ago.