The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-10-25
THE BUSINESS SITUATION.
Constant lettering of Conditions i'm
Every Direction.
n Afort crearrl

Chicago Bonds and mortgages.
If the farmer. the business man or imam
cier could have had the general conditions
made to order he could hardly nave I'm,
proved upon the present situation. In all
lines confidence mas been strengthened anu
renewed activity is noticeable everywhere
Business continues to increase steadlly.
The reports as to crops now agree III a pu dlo
ting the yield of wheat at about 5SO,VVV,VVV
to 500 100000 bushels or nearly 2O0,VOO,O 900
bushels more than will be required LOT
home consumption. The price OF wheat
holds up exceedingly we'll with the pre-
vailing opinion OF those best posted tnat
it will go materially higher. The CONDITION
of our winter wheat crop has improved con-
Siderably during the past week, tnanKS 70 d
general and copious rainfall in the West
where the drought had become very severe
Corn has made little Roadway SeApoaru
and foreign markets are well nlled and the
supplies back in first hands seem practical
ly inexhaustible. Until consumption disSl-
pates present supplies abroad ana IN tIe
East the shipping demand promises to give
the markets but little reaef. COTTON re-
mains unchanged in price with larger con-
Stunning demand, although the neaVy crop TS,pp
estimates do not appear 10 be disputed Inc
trade in cotton fabrics continues Gun, the
demand being almost for immediate re-
Quirements. Pig iron has declined a tribe,
a large increase in it's production and heavy
realizing sales of lots held on speculation
having caused a decline to $1,000 for BeS-
semer at Pittsburg F1nlshed prouuctS,
however, grow stronger with demand ex-
ceeding the capacity of works in operation
in many branches, so that delays IN dellv-
barrassing while in some other branches
orders cannot be filled within one or two
months. Wool has now reached an average
of 20.37 cents per pound, showing rise OF
s cents since year ago, with much
heavier rise in some qualities, but following
an average decline of IL cents from March,
1893.
From a political standpoint the last
month offers much cause for congratulation
by the advent of the new Liberal Ministry
of Spain with it's probable satisfactory solu-
ton of the Cuban question The recall of
General Weyler was most important step
in the right direction, and while the Cuban
war is far from ended. the strain between
Spain and the United States has been
greatly relieved and the political sky
cleared of practically the only menacing
cloud remaining visible.
The South has been handicapped in iso-
lated spots during. the past month by the
development of yellow fever, which can at
best be of very short duration with the sea-
son so far advanced.
Railroad earnings continue to make a
very handsome showing, those of the New
York Central for September being the larg-
est for any month in the history of the
company, and representing gain OF over
100000. The rush Of grain at the West Is
apparently decreasing, but railroad officials
state that any falling off in east-bound
traffic is compensated for by the increasing
volume of West-bound miscellaneous and
merchandise freightS. The activity of BUSH
ness in various sections also has its effect
and certain Southern roads, notably the
Louisville & Nashville, which, owing to the
yellow fever quarantine at the gulf cities
and towns, were expected to show de-
creases in earnings for the current weeks,
have. thanks to the activity of the coal
and iron trade in the South, shown increas-
ing gross earnings.
During the month of September bonds
amounting to $7,076.347 have been issued,
showing a decrease of 81, 52S, 6.60 from the
So GOA, SOB 60 reported for the month of Au-
gust, and a decrease of $12, 404, l27 from
the $19, 4S1. 308.27 reported for July. The stock
market lately has been dull and lstless,
with some declines in active securities, but
nothing to indicate bear raid of serious
proportions.
Gold importations have begun, apparently
without anything but natural causes be-
hind them, and in the opinion of author
tiles on the subject are likely to attain
large volume and continue at intervals for
the remainder of the year,
Nearly $100O0.O00 in gold has been ordered
in English money markets for shipment to
the United States during the past week
has not been met. With a strong demand
for American securities and with heavy
shipments of grain and produce to Eu-
rOpean markets, the trade balance in favor
of the United States is constantly growing
more favorable. 1t would not be surpris-
ing If there should be ordered for shipment
to the United States between now and the
end of the year $50 000,0 900 in gold from Eu-
ropean money centers. Half as much more
transit from Australia
Every test which can be applied to the
situation shows a constantly lettering con-
dition in the business world Bank clear
ingS, regarded as one of the sure tests of
prosperity, make an excellent showing, and
the business situation of the United States
may we'll be considered an ideal one at