The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-01-25
REVIEW OF THE WEEK
CEREAL MARKETS BOOMING, But
TEXTILE AND IRON DULL.
Review Of Trade Conditions as Re-
ported by Dun & Co.'s and Brad
streets Commercial Agencies.

| weekly review of trade will say tomorrow
| The week has been marked by improvement
| apparent rather than real. Prices of some
products have risen, but only because sup
| plies are believed to be smaller than was
| expected. The Senate still Injuries all bust
| ness by doing nothing, and the treasury can
| not expect to gain in gold as yet but loses
! less than was expected. 1t is generally
| assumed that the new loan will be placed
| without difficulty, though the successive
payments may cause continued disturbance.
| A deluge of foreign reports favorable to
wheat speculation found ready answer in an
advance of over 5 cents here, in spite of
Western receipts being so pc. cent larger
than last year. Atlantic exports for the
week were much larger than last year, for
the first time in several months, but for the
crop year to date all exports have been
about II, 100000 bu smaller than last year.
The market has the idea that foreign de-
mands hereafter must be much greater be-
cause of deficient supplies elsewhere, but
no one expects that the increase will be at
all commensurate with the enormous in
crease in Western receipts, q per cent,
since the crop year began. 137 100000 blu,
against 107,9S6,1 91 bu last year. Corn ad-
vanced because wheat advanced, receipts
and exports continuing as before. Cotton
rose lsc, although Mr.. Ellison estimated the
Yield at 7,OO0,UJO bales, and receipts to date
support that estimate, but there are many
VINO reason that the. surplus will be dan-
gerously small at the end of the crop year.
even II the yield Is 100000 bales. The
actual marketing of goods in Europe and in
this country hardly supports that view.
Textile Industries do not gain. With ma
terialS practically unchanged, they halt,
because the demand for future delivery is
so narrow. Cotton manufacturers have for
months been storing up staple goods, but
nrfn xya ad,ra1 lxr acIip nod cip
Oct IL, and now average GA per cent. lower
than at that point, when the rise. from the
lowest average of quotations in March, 1895,
had been 22.9 per cent. In Europe, here,
mills are running largely against expecta-
tons. Wooden goods also tend lower, with
small demand, and are practically at the
prices of year ago, though wool is higher,
sales having been 1850 $50 lbs in three
weeks. Of which ll.5sl. 800 lbs were foreign.
against l7.2i6.S6o lbs last year, of which
6,S47. $50 lbs were foreign.
The iron and steel business finds en-
enlargement in the advance of Bessemer
pig to $l3 at Pittsburg and grey forge TO
S1l.25, but these are results Of the advance
ordered by combinations in coke and ore.
Anthracite Is not dearer at the East, and
ished products are not stronger, while pig
iron has advanced 1913 per cent. since
Jan. /. Prices of finished products aver
aged Ii per cent. lower than at that time.
The demand is plainly too small for the
supply, and the works In operation are
killing profits for each other by under
pig, ore and coke would seem inevitable,
but last year the raw materials hoisted
everything else, and some expect the OPP
Grafton to be repeated. While thirteen
furnaces in PittSburg region nave stopped
since Jan. /, the demand for products of
iron has not on the whole increased, part
ly because the bar, nail and rail associa-
tons have all refused to lower prices.
Minor metals are all weak, lake copper be-
ing sold at 975c by brokers. with an out
put of 14,545 tons in this county in Decem-
Der and TIA abroad. and 81 Ass for the
last half of 1885 against 1904 tons abroad.
Lead and tin are practically unchanged.
The failures for the week have been 1913
in the United States, against 1863 last year.
and sxty-one in Canada, against fifty-nine
last year.
Brndstrcet's Weekly Report.
NEW YORK, Jan. 24-Bradstreets re-
port tomorrow will say: An analysis of
special kilograms to Bradstreets from the
more important business centers through
out the country shows considerable irregu-
larity in trade, the most favorable feature
being the tendency of staple prices to ad-
vance The advance of SC in wheat again
raises the question whether the beginning
of the end of the long period Of depres-
sion of cereal prices has come. Supplies
of wheat for leading importing markets
are now controlled by Russia and the
United States. India, as well as Argen-
tines. ability to ship is much restricted,
compared with previous years, and Austria
liza left the list OF exporters when
she began to import wheat from
San Francisco recently. Domestic wheat
stocks are larger than earlier official and
trade estimates OF it. but the export de-
mand has increased so far beyond what
was anticipated and gives so much promise
of being continued, that the bulls in the
speculative markets are counting on higher
prices At such centerS as Chicago and st,
Louis reports are made that interior mer-
chants have been disappointed in the sea-
sons business, and are buying somewhat
more sparingly than expected. although
MANY iobberS at those cities report that
travellers for clothing. dry goods, shoe and
hardware houses are taking fair orders for
spring delivery Total exports of wheat
flour included as wheat, from both coasts
OF the United States this week amount to
$3.50 600 bushels. as compared with 1902 600
bushels last week 2.Si0,0 900 in the week one
year ago. 2,947,O0O two years ago, 1851, 200 in
the corresponding week of 1898, and as con-
trasted with 3.55l.Oo in the like week of
1892. Exports OF Indian corn aggregated
1892 900 bushels this week. a slight decrease
from the week before. but more than four
times the quantity sent abroad In the cor
responding week one year ago, nearly twice
the amount exported In the week two years
ago, four times that sent out OF the country
In the like week OF 1898 and about 600 900
in 1892.
There are fifty-two business failures re-
ported from Canada this week, against sew
enty-four last week. thus indicating a large
falling off. But, when contrasts are made
with like weeks in preceding years the
fifty-two this week is seen to be an unusual
ly large number. One year ago the total
was thirty-eight; IL was forty-eight in each
NJ the corresponding weeks In 1884 and I'm
1895. and forty-four In 1892