The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-09-12
TWO VIEWS OF TRADE
r.. G. DUN & co. LESS OPTIMISTIC
THAN BRADSTREET.
Buying Power of the People Dimin.
ished in Various Ways-Number
of Business Failures.

| NEW YORK, Sept 1i.-R. G. Dun & Co. s
weekly review of trade tomorrow will say:
| Better prospects and relief from monetary
| anxiety do not bring larger demands for
| finished products, though large buying of
| pig iron, wool leather, hides cotton and
| other materials continue to show grow
| ing belief that & general upward move
| ment in prices will come with the replen-
| ishment of dealers stocks this fail. Most
prices extremely low, so that nothing
more than ordinary demand would advance
| them. But bank failures at New Orleans
cause temporary hesitation; crop returns
indicate disappointment in some cotton and
some spring wheat States; prices of corn
and oats make it Improbable to sell at
present; the number of manufacturing
works and mines in operation does not
gain, but rather decreases; reductions of
wages are somewhat numerous, occasion
ally resisted by strikes and all these con-
ditions diminish for a time the buying
power of the people. While many think
general improvement cannot come until
the election has removed political uncer-
tainties; others expect soon to see the re-
suit anticipated in trade.
The weekly output of pig iron decreased
26,57S tons in August to 100, 500 TONS against
217, 800 in November, a shrinkage of 40 per
cent. Other works still have stopped since
September began. Unsold stocks increased
81 067 tons in August exclusive of those
accommodating in the hands of great steel
companies. Strictly not half the iron-mal1-
ing or iron-working capacity is now en-
ployed, and the demand for finished prod
ucts does not grow, but heavy speculative
purchases of pig, especially from Southern
works, have sustained prices. If the extent
of private concessions could be known per-
haps there are less orders than there We're
two weeks ago. The output of Connells
vile coke was IS, 997 tons weekly, against
166, 600 Oct. 6 last year and 500 ovens are
at work, against 1871 then, with 10000
workers now idle.
Sales of wool for the week have about
equaled the normal consumption for the
first time in several months, not because
manufacturers have more orders, or are
don o w0 oapd fGr ne bnRn MAIN
ly speculative, based on the belief that
prices must advance. No considerable de-
crease appears In the enormous STOCK OF
print cloths, although the output has been
reduced about half for two months and
fifth of the years production remains in
the hands of makers but they have adj
vanced the price three-sixteenths during
the week. For other goods there is a bet
vanced prices because of the rising cost of
material, the average for all cottons hav-
ing risen 5.3 per cent. since Aug. 6, but
stocks of many kinds are large. The Finan-
cial Chronicles annual report, issued to-
day, makes the last crop OF cotton 7,162, ALB
bales. the consumption North and South
1855 $40 and the exports 4,7l2,912 during the
year. No account of Southern mills stocks
is attempted and no estimate is yet given
of the crop now coming forward. The gov
eminent report is even more gloomy than
a year ago, making the condition the low
est for many years, and there is no doubt
that the damage has been serious as the
price has advanced to SA cents, with much
speculative buying.
Wheat declined 1c. but then advanced,
closing 1c up for the week. Western
ceiptS still exceed last years. having been
in two weeks II, 229, 03S bushels, against TO-
1923 2SS last year. while Atlantic exports,
flour included have been for the same
week 1888, 265 bushels. against 2417, S72 last
year. Accounts of disappointing relations
in spring wheat States are numerous, but
it is difficult to reconcile short estimates
with heavy marketing at low prices Corn
is almost wholly out of danger, and the
yield is generally expected to be the largest
as the price here is the lowest ever known.
Failures for the week have been 315 in the
in Canada, against "a last year.