The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-06-19
THE TIMES IMPROVING
INCREASE IN BUSINESS REPORTED IN
NEARLY ALL LINES.
Risky Speculation Has Not Yet Been
PrOnOunced-Week Reports of
Dun a Co. and Bradstreet.

weekly review of trade tomorrow will say:
The retarding influence of cold and unsea-
sOnable weather has passed The gain in
business in spite of it was seen a week
ago and has become clearer to all. AS no
genuine Improvement ever begins without
an uplifting of prices before the producing
force has become fairly employed, this does
not and the buying of 1000 bales Australian
wool by one Boston house and 100000 tons of
pig iron by a Wall-street operator and adj
Vancing prices for stocks are the only proof
that the actual conditions are understood
by some capable men. There is evidence of
gradually enlarging business in every inn
portant department. More establishments
have been set at work and more hands en-
ployed and while prudence still binders
speculative excuses, the progress toward
better things is unchecked. Reports from
the various cities this week show a very
general progress and continuing large dis
tribution through retail trade. The proof
is clearer, as it should be, in the Industrial
than in the trading field. Contracts provd-
ing for consumption of seven million tons
of iron ore have already been made, two
million within the past Fortnight it is be-
ieVed, though last y~C- s contracts only
terminted about two months ago. Bessemer
ore is selling lower by 20 to 80 cents than
at the outset, and Pewabic at $225 against
$50 but the heavy demand puts additional
mines at work Speculative purchases of
10000 tons Southern pig at $5;75 clears the
deck for larger business at better figures
and sales at Chicago-150,0 900 tons-have been
the largest for eighteen months. Reaction
after the sudden purchase of $4,000 tons
BeSsemer at Pittsburg leaves the price SO. 80
per ton but the heavy orders for bars there
and for so, 900 tons at Chicago, mainly from
implement makers, with orders for many
new buildings at the West one of magni-
tude at Philadelphia and several at New
York; the larger demand for plates and
sheets, the order for twenty-five miles of
pipe and the purchases of steel rails. which
have started the new Joliet works with
good orders. are far more important than
the speculation in materials Coke produc-
ton has increased $500 tons, nearly 21s per
cent. without change in price. Tin is
stronger at 75c and the copper output in
May larger than in anyNother month this
year has not yet lowered quotations, while
lead is stronger.
The demand for print cloths for the first
time in many months has exceeded the
weeks production and the price has risen
a shade, while prints and other grades of
cotton goods are in slightly better demand
There is a more widely distributed business
In Woolens than was expected. Clothiers are
buying and as they come late are in haste
Some Eastern mills have been in the mar
ket, but the bulk of the purchases of wool
has been by speculative houses at Boston,
where almost ten millions pounds were sold,
against 6.551, 800 at New York and Philadel-
phia. Western operators still pay more than
Eastern prices warrant.
In produce markets the year draws to-
ward close with slightly stronger prices
for corn, owing to heavy foreign buying
mand, notwiths tanding more encoura ging
crop reports. Nobody can count bales in
June, but the outlook is so far favorable
that few make large ventures against the
yield exceeding nine million bales Wheat
was hoisted nearly cents but fell about
as much, closing nc higher for the week
in spite of reduced Western receipts ana At
lantic exports. Reports from winter wheat
regions west of Ohio had much influence,
but still more the great but really unknown
increase of spring wheat acreage with eX-
cepuonal prospects thus far. In two weeks
of June Atlantic exports of wheat and flour
have been equal to 4,977 653 bushels, against
6,210S23 bushels last year.
II, Failures d1i, for the week have been 1913 in
Sc in Canada, against Is last year.
Bradstreets weekly Report.
NEW YORK, June 1S.-Bradstreets re-
port tomorrow will say: There are encour-
aging features in the general trade situa-
ton this week, the most conspicuous of
which is increased orders for staple goods
for fall delivery in a few lines, notably
clothing, which, at Chicago, Baltimore and
a few other centers. promise to exceed the
movement of a year ago. The more cheer
full feeling among manufacturers of iron
and steel is based in part on expectations
of revival in demand. Encouragement is
also derived from the advance in raw cotton
and of 1-16c on print cloths, which
marks a reaction from the lowest price ever
reached. A moderate increase In the de-
mand for foreign woods is the speculative
outcome of the increased probability of an
early settlement of the tariff question
Prices this week did not carry out the last
weeks promise of a general advance. There
are lower quotations for tea and coffee
flour, wheat and oats, Bessemer pig and
for steel bllets, and unchanged prices are
reported for naval stores, lumber Detro-
leum, pork and sugar, and in addition to a
nominal advance in anthracite coal the
only noteworthy gains for the week are for
cotton, print cloths. Northern pig iron at
Chicago, and Southern pig iron at Birming-
ham.
Exports of wheat, flour included as wheat
from both coasts of the United States and
Montreal this week increased sharply
amounting to 2347,919 bushels, compared
with 1896 900 bushels last week 1920 600 in
the corresponding week year ago o
S57 900 bushels two years ago 1872, 900 bush
els three years ago and 1858, 900 bushels in
the second week of June 1898. Exports of
Indian corn declined this week amounting
to 1924, 600 bushels, compared with 1888 O00
bushels last week, 100000 bushels in the
week one year ago, SIS, 600 bushels two
years ago. 600 bushels three years ago
and $40 600 bushels in the corresponding
week of 1893.
There are 226 business failures reported
throughout the United States this week
thirty less than last week thirty-nine few.
er than in the week one year ago five less
than in the like week of 1895, thirty-one
more than in the corresponding week of
1893.