The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-11-13
Colder Weather Accelerating Distri-
ing Both Retailer and JObber.
BANK CLEARINGS ARE LARGE
AN INCREASE OF 41.3 PER CENT. AT
INDIANAPOLIS THIS WEEK.
Railway Earnings Also Show Large
Before So Active as 1t Is Now.

I NEW YORK, Nov. 12.-R. G. Dun & Co. s
weekly review of trade will say in its issue
of tomorrow: Colder and more stormy
weather, so long needed to accelerate dis
tribution of winter goods, has materially
helped in some quarters and the resulting
Improvement in retail trade is mentioned in
nearly every Northern dispatch this week.
so that orders to fill stocks have been en-
couraging, and in some branches the null
titude of demands for immediate delivery
show that the distribution to consumers
has already gone much beyond the ex-
pectations of dealers. But this is not yet
the general rule and with many complaints
of delayed trade from other quarters there
still remains the extensive shrinkage caused
by fever and guarantees at the South. 1t
is, therefore, the more surprising that the
volume of all payments through clearing
houses continues about at large as in 1892
and 1873 per cent. larger than last year
Railroad earnings also nearly equal those
of 1892 for the first week of November, and
half the mileage in the United States shows
earnings in October of $50, 1854, 496, or 8 per
cent. larger than last year and % per cent
larger than 1892. Speculative markets feel
disappointment because prices do not rise
farther and faster, but it is fortunate for
producers and dealers that the experience
of some past years in that respect has not
been repeated. There is nothing to cause
general reaction; the purchasing power of
the people is gradually increasing and after
the lull which follows extensive replenish-
ment of stocks, trade should give ample
evidence of that increase.
The output of iron furnaces Nov. 1 was
21S.159 tons weekly, against 2OO,12 Oct. l,
gain of 81 per cent, and unsold stocks
decreased 4SS9O tons in October, indicating
larger consumption in manufactures than
ever before, even when the output of pig
was pushed by swiftly advancing prices to
the highest point, 217,6S2 tons, Nov. l. 1895.
Prices of iron products rose that year 553
per cent, but are now not per cent higher
than June g. The enormous output with
some more furnaces started in November,
causes but a slight decline in Bessemer pig
to $1O.25 at Pittsburg, with no decline in
other pig there, at the East, or Chicago,
and no fall in prices of finished products
except shade in angles. While most works
have orders for the rest of the year, and in
sheets and some other branches are far be-
hind in deliveries new orders are few, but
include one for 1900 cars at Chicago, and
one for 400 at Pittsburgh one for an armored
ship at Chester, many for small buildings
and for St Vincents Hospital and three
schoolhouses here, many for bridges, with
some for the drainage canal at Chicago.
a lively demand for hoops, and a large ex-
port business, with a quantity of bars for
Asia.
Wooden mills generally have orders for
three months ahead and are not seeking
further engagements. Large sales of specu-
lative lots of wool at prices not stated sug-
gest that it may be lower before the mills
need further orders. A year ago the price
began to mount, with heavy speculation
and has risen SO per cent. without reaction
in quotations, while the rise in goods aver
ages but IA per cent.
The decline in cotton and the slow demand
for goods, owing in part to warm weather
have led cotton mills to confer about cur
talment OF production and further reduc-
tionS have been made in brown sheetings
and dry goods prints and by jobbers in
bleached goods. Cotton declined "a to 5.S7
cents for middling uplands and both ex-
ports and takings of spinners have been
large.
Wheat dropped over cents, but has since
risen as much with heavy buying for ex-
port. Western receipts continue heavy-in
two weeks IA, ,907 bushels, against 10,5S1,-
1872 last year-while Atlantic exports, flour
included, have been 6,562, OPS bushels, against
1921, 231 last year. An English authority
reckOnS the worlds yield at 161 900. 900 BUSH
els less than last year, which would mean a
market for all this country has to spare
Corn exports are again larger than last year
and the price has risen 15s cents. Later
prices of meats do not indicate that farm
corn for feeding.
Failures for the week have been 291 in
the United States, against 216 last year and
"a in Canada, against 46 last year.
u