The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-05-15
IMPORTS VERY HEAVY
NEW YORK AND OTHER PORTS
FLOODED WITH FOREIGN GOODS.
No Marked Improvement in Trade
Weekly Reviews of r.. G.. Dun
IL Co. and Bradstreet's.

NEW YORK, May 1-R. G.. Dun & Co.'S
weekly review of trade tomorrow will say:
Spectators have enjoyed an advance in
wheat, corn, cotton and some other prod
ucts, though obliged to sell wool and sugar
at lower figures in order to realize. Stocks
have advanced Z cents per 500, and trust
stocks lost SO cents without enough demand
to constitute a market. Imports of mer-
chandise-$1S, $685. 19 for the week at New
York alone-are "a per cent. larger than a
year ago, making the increase AZ per cent.
for the past week., and have affected the
exchange markets and helped further ship
ments of gold, which amount for the week
to 81, $50, 900, but are practically balanced by
receipts from the interior and cause no Sc
rious apprehension of financial disturbance.
Men feel that present conditions are only
temporary, although they tend to prevent
immediate Improvement in general trade
and hinder immediate Investments.
The winter wheat report, which is sup
posed to indicate a yield of 297, 000, 600 bushels,
is contrasted with state reports much better
or much worse, but is distrusted mainly be-
cause all department estimates of acreage
for years. have been wildly erroneous. West
ern receipts continue larger than last year
2, 100, 1913 bushels, against 1,S10,367 a year
ago-and Atlantic exports also increased
for two weeks of May, amounting to 3,1O6,-
9U9 bushels, flour included, against 2,0S3, Ala
last year. Exports of corn are still large,
1856, O55 bushels for two weeks, against
1904, 1S1 last year, and in part account for
the smaller demand for wheat.
The output of pig iron for the week end
ing May 1 was 17O,5 2S tons, against 1929
April l and the stocks unsold, exclusive of
those held by the great steel-making COM
panies increased only S,S0S, 600 tons. Several
furnaces, especially those producing foun-
dry iron, have stopped production for this
month, but no important changes appear IN
pig iron, which is quoted at $50 for grey
forge at Pittsburg and $50 for BeSsemer,
and $12 for No. l at New York, though only
$10.25 is asked for Southern. REDUCED
southern freights here have not altered the
market materially, and at Chicago also the
local prices have been reduced. The de-
mand for finished products is below the ca
pacity of works in operation, and the award
of the contract for the Montreal bridge,
which is said to be at 80 cents Tor beams,
against $1.55 demanded from consumers in
this country, has occasioned trouble IN the
beam association, and there are reports
that it has dissolved. Angles are quoted at
80 cents per 100 pounds, a shade lower, and
Philadelphia. Copper is active, with large
sales of lake at 10.35c, and tin plates are
quoted 10 cents below prices fixed by the
association and 80 cents below prices of the
same grades of foreign plates.
Nothing new can he said of the cotton
manufacture, which still lacks demand
enough to lift print cloths above the low
est point ever known, and prices of other
grades of cotton do not improve. In gen
eral the sales of cotton products are but
moderate. Wooden goods are DONG better
than for weeks past, and yet there is not
enough demand to create enthusiasm or to
raise prices, while there is great uncertainty
regarding the future of the market. Sales
of wool have sharply decreased. and for the
week barely exceed a weeks consumption,
while prices are weaker at Eastern mar
kets, according to some reports, nearly one
cent per pound at Philadelphia, and at the
West the heavy buyers for speculation nave
begun to sell at some concessions with good
reason.
United States, against 22t last year, and
thirty-one in Canada, against thlrty-three
last year. -
Bradstreet's weekly Review.
NEW YORK, May 14.-Bradstreet's to-
morrow will say: The unexpected falling off
in the request for staple goods within a
month results in a period of comparative
calm at a time when a general revival in
demand had been looked for. Wholesalers
report tina the volume of business consists
of filling orders, even Chicago not claiming
more than to have held its own in volume
Of goods distributed. Interior merchants
continue to buy for nearby wants only and
in many directions farmers are too busy
with field work to supply their wants at
the country stores. The continued sub
sidence of the floods in the lower Missis-
sippi river valley has encouraged whole
sale merchants in that region. Grocers re-
port an unusually large distribution of
canned goods West and Southwest, and the
extreme depression in pig iron prices is
followed by large Western purchases.
Wholesale dealers announce an increased
demand for groceries and hardware at Du-
luth. st. Paul, Minneapolis. Kansas City
and Memphis Exports of wheat f1our in
cluded as wheat from both coasts of the
United States and from Montreal amount to
81, 1873 SIS bushels. as compared with /, $4,000
bushels last week. 1908, 600 in the week a
year ago, 1887, 900 in the week two years
ago, 2.420, 600 three years ago, and 3,SS5.000
bushels in the like week week of 1898. Elk
ports of Indian corn amount to 3,096,S34
bushels compared with 3,127, 900 last week,
1,663, 600 in the week a year ago, 1,2lO,00O in
the week two years ago, 1,111.000 three years
ago, and 1,247, 600 bushels in the correspond
ing week of 1898.
There are PSI business failures reported
throughout the United States this week,
compared with 22S last week, 265 in the cor
responding week one year ago and 210 two
years ago. 1856 three years ago, and as COM
nared with 255 in the like period of 1898.
There are thirty-one failures reported from
Canada. against thirty-nine last week.