The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-09-05
REVIVAL OF BUSINESS
SPOKEN OF ALONG WITH EVIDENCE
OF INCREASING CONFIDENCE.
Trade as Low as 1t Can Fail Under
Present ConditiOns-Dun q Co.'S
and Bradstreets Reports.


| There is distinct increase of confidence,
| due largely to the continuing and heavy
| imports of gold. which have put an end
| to money anxiety, and also to political
events, which are closely watched While
| II does not yet start more mills and fac
tories than are closing for want of work.
sehtiuehce CROPS out in heavy speculative
purchases of pig iron, wool and some other
nialerlais oy experienced men, who believe
that revival of business is not far off
For the fir''t time in nearly two months
slight upward turn appears in prices of
manufactures products. The gain in con-
ndence and in willingness to lend and in
vest gives reason to hope that the neces
sary replenishment of stocks which can
not be long deferred may be liberal enough
TO stimulate fair activity in trade and
industry.
Wheat had suddenly risen week ago
but reacted with better crop news until
Thursday, when another advance came of
lie, making the net decline for the week
12sc. Western receipts continued large
5.21o FOG blu for the week, against 1850 104 bu
last year. making the increase since July
l about 12O00,000, or SO per cent. Atlantic
2,032963 blu, against 1,347, 352 bu last year.
and since July 19,073,551 Blu, against Ii, BIS
645 blu last year. a gain of 50 per cent
Gloomy stories find little support in such
returns.
Corn has reached at Chicago the lowest
point ever touched, zoe in 1861. and has
again broken all records here, declining 10
25ase, at which it closed.
Cotton fell to 7.67c. but with revival of
confidence rose to S.50c, although the pros
pect is clearly more favorable than some
weeks ago.
After many weeks of decline so that the
average OF prices for iron and its products
was the lowest since early last year, prices
have started I'D a shade Heavy sDecu-
| purchases EeSSamer a he West
and of Southern irOn the latter by New
Workers at $40 for No. and $500 for grey
forge, have so strengthened the market
that Bessemer at Pittsburg commands $11. 25
and grey forge $3.50. The various associa-
tons have not reduced prices, believing
that it would not stimulate demand at
present, which is extremely narrow and
as yet shows no Improvement. But the
first long step in that direction is taken
when we believe that the bottom has been
touched. Coke ovens operating are only
7,425, against 10,5 so idle, with a smaller out
put than for years, but no change is made
in prices Tin is weaker at 1315c for Sep
TENDER. Bids at 1O:37c are solicitated for
lake copper, while lead is a shade firmer
at 2.725ac.
The starting of some wooden mills which
have idle and accommodating orders for a
short run is still balanced by the stopping
of others, and the volume of orders does
not increase. No gain as yet appears in
demand or prices but marked specula-
tive buying of wool shows belief that the
prices will improve, and sales for the week
were 4,377, 600 pounds, of which only $50, 700
pounds were foreign, much over half the
domestic sales being of Texas and far
western States at prices ranging from &c
to sac. Cotton goods growing stronger
more grades having advanced, and though
sales are moderate there are more buyers,
indicating exhaustion of dealers stocks.
Failures for the week have been 1884 in
the United States. against 1s6 last year. and
thirty-one in Canada, against thirty-eight
LAST year.
Bradstreet's Review of Trade.
NEW YORK, Sept. 4.-Bradstreet's report
tomorrow will say: There is a somewhat
better feeling among wholesale merchants
as to prospects forlautumn trade in season
able goods. This extends TO some industrial
lines, notably iroa and steel. Chicago sales
of iron this week are larger than for all
of August, and Pttsburg sales are larger
and prices better the outlook for har-
n ony among steel makers. The most no
tatle increase of sales of seasonable goods
has been at Chicago mostly among dry
goods and hardware jcbbers. St. Louis also
reports a moderate gain in demand does
ST. Paul, where a State fair has attracted
visitors. Baltimores wholesale trade is
checked by restricting bank credits, but is
still larger than one year ago. At the
South relatively the most active demand
is at Charleston, Augusta birmingham,
Nashville and New Orleans.
The more encouraging feature to the
movement of prices lies in advances OF quo
tations for wheat on the stronger statisti-
higher prices for iron and steel at Pittsburg
and Chicago, with gain in demand and
a further appreciation in quotations for cot |
ton on renewed reports of damage to the
crop. Petroleum and leather are also
higher.
On the other hand there has been no gen.
eral increase in industrial production, the |
output as a whole, being smaller than pre-
viously during the year. Further damage |
to the Texas cotton crop is reported ana
the outlook for business in that State is
less attractive. At Detroit. Cleveland, Gin |
cinnati, Kansas City. Omaha, Milwaukee, |
Duluth and Minneapolis there is no change |
from the dullnesS and conservatism which |
have marked preceding weeks. Trade on |
the Pacific coast, except in certain export |
lines is of small volume.
There are 1876 business failures throughout |
the United States reported to Bradstreet |
this week sixteen more than last week |
Weekly totals continue higher than in like !
periods in preceding years, except in 1898 |
The total year ago was lS4. two years |
ago it was 207, while in the like week in |
the panic year, 1888 there We're 2l9 business
failures reported, forty-three more than |
this week.
Exports of wheat. -four included wheat, |
from both coasts of the United States and |
from Montreal this week amount to $780, |
sac bushels against g. 22l 900 last week. $780,
Ssa1 in the week a year ago, 3,207 600 two |
Years ago and 490e 900 in the corresponding |
week three years ago.
A Bad Child.