The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-10-16
Demand for Finished Products In
ticles Steadily Advancing.
BUSINESS OUTLOOK BRIGHT
DESPITE INACTIVITY IN SOME STA
PILE LINES OF MERCHANDISE.
Bank Clearings Heavier than in Any
Previous OctOb er-Increase of SAG
Per Cent. at Indianapolis.

NEW YORK, Oct. 15.--R. G. Dun & Co. s
weekly review of trade will say Tomorrow
Foreign trade in September, the heavy in
crease in iron production and consumption
and the largest payments through clearings
ever known in October, are indications
which outweigh hesitation in some markets
The increase in employment of labor has
continued, with further accounts daily of
works opening, increasing force of hands,
or raising of wages, and at every point
where actual prodcution can be tested it
appears greater than ever before. Efforts
by the Bank OF England have delayed fur
Their gold exports but with cotton move
ment rising, large shipments to this side are
deemed certain and not distant. More gold,
however means less just now than more
iron. The output of pig iron Oct. 1 was
200,12S tons weekly, against 112,7S2 a year
ago, the increase since July having been
p per cent. Unsold stocks have been re-
duced at the rate of 1921 tons weekly in
September, indicating a consumption ex-
ceeding 232, 900 tons weekly, which is about
10000 greater than ever before, and 40 per
cent. greater than three months ago. Prices
of pig hold steady, though the production
has been further increased since Oct. /,
and prices of finished products gradually
rise, with especially heavy demand for
plates, rods and bars while another con-
tract has been taken by the Illinois Steel
Company to deliver $1,000 tons Of steel rails
for Japan, and the Pennsylvania Company
has bought $4,000 tons Ore shipments on
the lake surpass all records, and the Rookie
Teller Company has contracted for another
steamer with two consortS to carry 10000
tons, the largest ever built for the lakes.
Makers of black sheets have raised the price
for No. % to $780, and wire nails are sc
higher, the average of iron and steel
the highest point since April s. Tin plates
are cheaper at $40, with enormous pro-
duction and copper at 11.12c for lake. with
lead at Aloe, but tin. is fairly strong.
The cotton mills are producing as largely
as cheap cotton invites, and with moderate
demand print cloths are low at 2.44c, and
duced. Sales of wool for speculation have
greatly decreased, but manufacturers do
not find that current prices are warranted
by their market for goods, though it is
strong and advancing.
Sales of wool for two weeks have been
"a 331 600 pounds at the three chief markets,
of which 1881. 1870 were domestic, and while
quotations are maintained, large lots pre-
viously withdrawn by consignors are now
offered The demand for spring goods is
limited. But the prices OF some qualities
have advanced a shade further. There is
also some quiet contracting already for
heavy weights.
Wheat has been fairly steady, but mov-
ing more largely than last year from the
farms and from the country. Western re-
celptS were l5,l6l,Oo4 Du IN TWO weeks or
October, against 14,2 ,016 last year, and At
lantic exports 6,463 401 bu. flour included,
against 4.747S45 last year, while corn exports
were 1882, 3S7. against 9,SO9,925 last year.
September exports of wheat surpass
all records, amounting to % SOS, S3S
bu. against 17646,Sl5 last year, ow-
ing to high prices the value being
over 100 peg cent. larger for all breadstuffs.
The price of wheat has declined $4c and
corn lie, with the government report of a
yield exceeding 1880, 900 bu. Cotton has
declined 3-16c to 631c for spot, some author
tiles of repute having published estimates
that the yield will be $500 000 bales, but the
movement is yet retarded by the fever.
Failures for the week have been 223 in the
United States, against 32S last year, and
thirty-six in Canada, against forty last
wear