The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-01-11
BUSINESS RETARDED
WEEKLY REVIEW OF TRADE BY Dun
& CO. AND BRADSTREETs.
and Disturbed Political Conditions
Are Adverse Factors.

NEW YORK, Jan. 10-R. G. Dun & Co.'S
weekly review Of trade, to be issued to-mor-
row, will say: The new year begins with
such uncertainty that business is somewhat
retarded. The proposed sale of bonds Of
fers ground for confidence in the future,
but no one is able to determine what its
earliest effects may be In the money mar
ket and for the time it is a cause of hes
itation other than hopefulness.
Speculation in products has not been ac-
tive. Cotton is unchanged, although the re-
ceipts for the week have not been very large
in the foreign demand. Wheat is about 1c
higher and corn the same without distinct
reason in either case, for the government
report, tardily conforming to commercial
estimates OF some months ago, did not
command great confidence. Wheat receipts
at Western points were almost double last
years. $685. zoe bushels, against 1,305. 704 BUSH
els last year, but Atlantic exports were
little larger than last year. flour included,
2,33 1886 bushels against 2,0l0,756 bushels
year ago. Corn receipts are about quar-
ter larger than last year. while Atlantic
exports are about four times as large.
The industrial situation has not material
ly changed. There is much hesitation in
the iron business with some advance in Bes-
semer pig because of the expectation that
Connellsville coke and lake ore will both be
dearer. and yet finished products of iron
and steel are on the whole quoted a little
lower, and the Nail Association Is
still in session to determine whether
it will abandon the effort to maintain
fixed price. That branch of business is ex-
tremely slow, nothing is doing ia rails and
while there is a rather better demand for
structural works, angles are quoted a shade
lower. Everything turns on the contracts
for ore, which are still unsettled, but the
great excess in production of pig iron over
the present demand is no longer denied and
ii is expected that quite number OF the
furnaces will presently discontinue produc-
ton. Lower prices for Alabama iron renew
competition with Eastern furnaces.
Sales of wool are large, 6,699.3O pounds
for the week, against 5.2367l5 pounds last
year, although a large part or the purchases
is of a speculative character, based on
belief that prices may be advanced if the
new tariff bill goes into effect. The opening
of wooden goods shows further tendency
toward lower prices. in spite of the preva-
lent belief that higher prices would be re-
allied before long If the revenue bill which
passed the House should become law. The
cotton mills are generally running though
not all with full force, and some are piling
up goods without regard to the immediate
they apparently believe that the short sup
ply of cotton this year will insure them
profits in the end as Ii has during the past
half year. Nevertheless goods have decided
1y weakened in price, quite a number OF
changes having been recorded during the
past week.
Failures for the week have been 49, in
the United States, against 40 last year. and
fifty-three in Canada, against fifty-four last
year.