The Indianapolis journal., 1897-05-01
IMPROVEMENT IS SLOW
GOLD EXPORTS AND DECLINE IN
GRAIN HAVE UNSETTLED TRADE.
Cotton Market Has Advanced Slightly
Weekly Reports of DUN & Co.
and Bradstreet.

In spite of the moderate Improvement in
most of the great industries, business is
disappointing. Expectations of a speedy
end of the war in Europe through Turkish
victory have helped to depress grain. De-
mandS of Austria and China have caused
exports of $6,500,000 gold, merchandise i'm
ports are greatly increased and final action
OF Congress on the revenue question seems
more remote. Wheat rose last Saturday
nearly cents, but has fallen since that
day about cents. This is largely because
European markets did not sustain the ex-
pcctation Of a great foreign demand after
the outbreak of and because events
appeared to foreshadow speedy peace, but
the tidi1gs from wneaJ-growing States, the
receipts from farms and the enormous eX-
ports of corn all had influence. Corn ex-
ports have been 10 250,197 bushels in four
weeks, against 4, 496,679 last year, while At
lantlc exports of wheat in the same weeks,
flour included have been only 4.251,34S BUSH
els, against 4,579,2l5 last year. Nor is this
surprising, for if in use two bushels of corn
only equal one bushel Of wheat, two BUSH
els of corn would cost about 60 cents and
the one bushel of wheat nearly so cents.
eStern receipts have been reduced, per-
trafic. naRH ~ part 0S moods and interruption Of
The cotton market has advanced 4 cent
owing mainly to speculative impulse from
England. The exports of gold would not have
much influence if it were not for an
extraordinary increase in merchandise i'm
ports and some decrease in exports from
New York, large for the last week and 5
per cent. for April. Imports have increased
about 20 per cent. over last year for the
week. and for four weeks have been 80 per
cent. greater. AT Boston imports of wool
have been extraordinary, and at Philadel-
phla they have amounted for the month
to $l,26,0Oo. The thought that this abnormal
increase may continue as long as action on
the revenue bill is deferred tends to affect
exchange, but the main influence al pres
struction of the Austrian monetary system
and for Japan.
OF the great industries the iron and steel
manufacture is slower in advancing now
as 1t was much the quicker in the winter
Fartiy because the Increase in production
OF pig was then too rapid, partly because
enormous contracts taken when the differ
eat pools broke down went mainly to the
larger concerns, and perhaps even more
because possibilities of new development re-
main, there is great hesitation now in plac-
ing orders Reports of pending negotia-
tions between the Illinois Steel and Mime
sofa Iron companies point to an important
change as possible. Prices of Mesaba ore
have not yet been established though ore
better than Fayal has been sold at $2.45 to
with one sale of 2, 900 tons for 1925 at Pitts
burg, and grey forge at $3.50. Nails are
about DC per keg lower and tin plates sc
per box, and Eastern quotations are fire.
quently shaded to secure business. A heavy
sale of Lake copper is reported at lie and
lead is a trif1e weaker There is more bust
ness in cotton and wooden goods and a lit
tie better tone in prices, some cotton and
some woolen goods having slightly ad-
Vanced Without general change. The mills
are rather better employed and the demand
Is apparently. increasing, though not enough
In wool to induce manufacturers to pur-
chase. But imports have been enormous
II current reports are not in error-more
than 100, 600 pounds in April alone-Phila-
delphia having received over 1000 600 pounds
in four weeks, New York over "a 600 600 and
Boston apparently over IS 100000 pounds
SS8 sales ea for the past four months have been
$50 302, 800 pounds including 92 943 400 domes-
TIC, and for the whole year So, ,S92, ,SS1, in
Guiding 2l3, 631 domestic, but in 1929
sales were 3oS,646 S55 pounds
Failures for the week have been 237 in
the United States, against 23S last year
and 40 in Canada, against 81 last year.
Brndstreet's weekly Review.
NEW YORK, April 9O.-Bradstreet's re-
port tomorrow will say: The more con-
spicuous features of trade are less satisfac-
tory, including moderate reactions in prices
of staples a falling off in the volume of
transactions in various lines, continued slow
collections, and less favorable conditions in
the iron, steel. cotton and some other in
dustries. There is less demand for staple
varieties of iron and steel, makers report
ing trouble in securing specifications for
contracts on hand. Southern pig iron has
secured lower rail rates to points west of
Pittsburg and Buffalo, all of which saving
has been given the purchaser. The outlook
is for the shutting down of some furnaces
in the Pittsburg district Sales of wool
have declined sharply, but receipts of for
elgn have brought up the weeks movement
20 fair total. Nearly a years supply has
been imported during the first four months
or this year. The movement of cotton
goods is slow and prices are low, buyers
purchasing In large lots only where in
ducements are offered. Woolen manufac-
turers are fairly supplied with orders, and
are inclined to ask an advance on new
business. The three months restrictions of
output in cotton goods has ended, and mills
will now run on full time. The price move
ment furnished little basis for special en-
couragement, the only advance on general
recognized conditions being those of pork
and cotton. Higher prices for woolens is
an effort to anticipate the tariff.
Exports of wheat flour included as
wheaD from. both coasts of the United
States amount to only 1,15S $50 bu this week
against 1864 600 bu last week. 900 bu
in the week Il year ago, 2555, 600 bu two
years ago, 2,773 900 bu three years ago, and
week in 1898. The current weeks exports of
wheat flour included) are the smallest
since the second week in May, 1891. Ex-
ports of Indian corn have also fallen off
this week, amounting TO 800. 465 bu against
4,769 900 bu last week, 2142. 600 ba in the
week a year ago, l,0l6,00O bu two years ago,
$4,000 bu three years ago, and as compared
with 040 600 bu in the like week of 1898
There is a moderate increase in the COM
mercial death rate, there being PA business
failures throughout the United States this
week compared with PIC last week 254 in
the week one year ago. 206 two years ago
l79 three years ago, and as contrasted with
24S in the last week of April 1898. There
are thirty-one business failures reported
from the Canadian Dominion this week
against % last week. 26 i'm the week q year
ago, 80 two years ago, and as compared