The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-08-15
~STAGNATION In TRADE
SPECTATORS HAD GROUNDLESS
FEARS BOZ BRYAN MEETING.
Refusal Of Commercial Loans n Great
and Bradstreet's Reports.

Co.'S weekly review of trade, which issues
tomorrow, will say: An extraordinary
spell of deadly heat affected trade
throughout the country the past week and
in the East speculative feeling was some
what affected until Thursday by apprehen-
sion Of the possible influence Of the Bry-
an meeting. With cooler weather there
came also on Thursday perception that the
meeting would not affect business unfa-
vorably. But other conditions were not
stimulating. According to government re-
ports the crops have sustained serious
injury. Labor difficulties extend and the
closing of establishments for want of
work and the refusal of commercial loans
by banks checked operations in many
branches Of industry and trade. The week
therefore closes, as the last week did. with
domestic business unusually dull for the
season. Measured by clearinghouse
changes it was 5 per cent. smaller than
last year and 15.5 per cent. smaller than
in the same week of 1892. the last year of
full business at this season.
The government crop report for August
was SO gloomy, that a great rise in prices
credited. In fact, wheat rose about &c,
but again declined, closing only a fraction
higher, for the week. Corn declined
throughout the week. closing over a cent
over. Cotton advanced a sixteenth be-
cause OF continued reports of injury. 1t is
wise to remember that the government ac-
counts were based on returns prior TO the
fearful spell of heat and hence may be
more nearly correct than they were when
prepared. But official and unofficial eSti-
mates of great decreases in wheat yield
are confronted with a movement from the
farms of $500, 741 bushels for the week.
against 2.29o,242 last year, and it scarcely
seems reasonable to believe that 20, 700.0 COO
bushels would have been marketed since
July i, this year, against II. CPS 62 last
year. If the yield had been smaller with
the price 8 cents lower than a year ago.
Atlantic exports -four included), being l.
1 t0p & Irshnla a. GOO M lot -
not enough to account for the difference.
No one now questions the probability of a
very large yield of corn: But the advance
of cotton to size caused large selling and
q reaction, although a turn upwards on
Friday took the price TO S.19c with, mod
Iron production was reduced 2O,7A tons
weekly in July and has been further re-
duced since Aug. 1. while unsold stocks
increased 26, 1872 tons in July. The stoppage
of a large share of the Connellsville coke
works and of many lake iron mines is a
Ialr indlcatlon that the two combinations
do not believe anything could be gained
by reducing the prices oY materials, and
the main difficulty is obviously the ex-
IRENE narrowness of the demand for fin
ished products. which is so small that
most transactions are at some concessions,
even from the current low prices: With
ham,, equivalent to Sl025 here. against
ST. so for Northern No. 3. the market is
either. copper receded to its Quotations
before last week. Tin has been sold below
current quotations at l3.35c and with sales
of 500 tons. lead weakened to 2.15c.
The wooden manufacture makes little
change. with not more than n third of the
machinery now running. and the demand
for goods does not improve, although
prices of some important grades have been
further reduced. Sales of wool at the three
chief markets for two weeks have been
i.79l 900 pounds. against 14.473.150 i'm the
same weeks of 1894 and JIG, 436. 302 in the
same weeks of 1892. Nor has Improvement
appeared in cotton goods. although the
curtailment of production for the week
has been great.
Failures for the week have been 25S in
the Unitd States. against 1876 last year and
80 in Canada, against IS last year.
Bradstreet's Review.
NEW YORK, Aug. H.-Bradstreet's to-
morrow will say: The volume of business
throughout the country is practically I'M
changed. New features do not point to
Improvement in prospects for fall business.
Industries generally continue quiet with
more men idle than a week ago. The most
significant feature was higher rate for
money early in the week, and
some difficulty in obtaining money.
ton against the free-silver sentiment
vhich followed the silver demonstration at
New York Aug. II. Mercantile collections
are difficult 10 make at Charleston and at
Atlanta they are poor. Jacksonville jobbers
report remittanceS slow as do those at
Birmingham and in the West, at Cleveland.
Detroit, Milwaukee and St. Paul. There
Is little or no demand for iron or steel not
w~ithstanding the capacity of furnaces in
blast was restricted during July more than
lightly thousand tons. Manufacturers of
hardware and jewelry report business ex-
cessively duh. The brighter side. of the
picture is found in generally favorable crop
conditions at the South. which has stimu-
lated buying at Baltimore, Savannah. New
Orleans and Texas. The early movement
of cotton is pointing TO Improvement i'm
mercantile collections. The financial situa-
ton at New Orleans is relieved by sugar
bounty payments. Collections are improv-
ing at Pittsburg and there is a better de-
m2nd for dry goods and shoes than last
week. AT Omaha wholesale merchants re-
port n very general improvement. On the
Pacific coast the wheat yield promises well
in California, but general trade at WASH
ington and Oregon cities is rather less
active.
Exports of wheat. flour included as
wheat. from both coasts OF the United
States this week. amount TO 2.e35.OO0 bu.
against 2,7f1, coo bu last week. l.S2i. 900 bu
In the week one year ago. 2,S19.Oo0 bu I'm the
week two years ago. and as compared with
dian corn have increased very heavily.
amounting TO 2.367. 600 bushels as compared
with LIS. 900 bu last week. less than 1000
0U0 in the week one year ago. 166. 900 bu
two years ago and II 900 three years ago.
There were 25S business failures reported
throughout the United States this week.
compared with 29 last week. The increase
as compared with the correspond
ing week a year ago is 163
and as compared with the like
In the second week of August. 1895. there
were 400 failures reported. The total num-
Der of business failures in the Canadian
Dominion this week is %. compared with 30
last week. 20 I'm the week a year ago. 40
two years ago and Is three years ago.