The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-07-31
Wheat Rapidly Advancing in Price
Marked Increase in De-
mand from Foreigners.
WEEKLY REVIEWS OF TRADE
DUN & co. AND BRADsTREET,s BoTH
OPTIMISTIC IN TONE.
Increase i'm Business Due to Increased
Wants-BaDk CIearings 2S.T Per
Cent. Greater than Last Year.

NEW YORK, July 30.-R. G.. Dun 4 Co.'S
weekly review of trade tomorrow will say:
Dispatches from almost every Northern
city Of Importance report, without excep-
ton, Improvement in business and from De-
troit to Seattle and Portland splendid crop
prospects. The task of adjusting the busi-
ness and industries OF the country to con-
dltlons created by a new law has progressed
with gratifying rapidity and ease. Even
the increasing strength of striking coal
miners probably forwards the adoption of
the uniformity plan, which promises to re-
move most of the causes of such struggles.
Some confusion is caused by events, SEEM
ingly contradictory, by closing of large cot
! ton mills when many other works are
starting and by decline in some prices when
others are advancing, but the balance is
unmistakably the right side.
The most important event since the pass
age of the new tariff. which was generally
anticipated, has been the marked increase in
foreign demand and advance in price for
wheat. The latter has risen 4s4 cents dur
ing the week with Western receipts for the
first time exceeding last years and Western
railroads besieged for cars, and with At
lantic exports of LIS, 1888 bu, flour included.
for the week and $751; 17S bu in four weeks.
against 6,917. 500 last year. With heavy con-
tracts for shipment, exceeding 1900 600 bu
on single day Liverpool reports of ship
ment from America to northern Bohemia
and with French markets excited, specula-
tive sales here have little influence. The
fact that corn exports exceed last years
although the price has advanced to 327sc is
further proof that foreign demands are sub
stantiaI With crop news still favorable,
producers may probably realize something
like $50, 600 more than last year on wheat.
which means a great difference in pur-
| chases by agricultural States. Corn also
| advanced 1Ac and cotton 1-16c, though re-
ports as to yield are good.
The industrial sky is partly overclouded
by coal and iron difficulties and by the
closing of some large cotton mills. Hav-
ing run for months far ahead of the con-
suming demand on cotton bought at COM
! paratively high prices. the mills see ahead
a large crop and cheap cotton, and it is but
the rational way to halt production, clear
| off accumulated stocks at the season when
vacations are common and begin the new
| year on its own basis.
The wooden manufactures answer whole
somely and moderately to new tariff con-
dtions, the advance in prices asked not be-
ing large With very heavy stocks of free
wool on hand, manufacturers are able, and,
in the presence of large stocks of foreign
goods are obliged to engage for the next
season without advancing prices in pro-
portion to the rise in wool, and large con-
tracts of that nature have already been
made Selling of wool at Boston, where the
speculation has been most active, is sug-
gestive amounting to S,S4S, 600 lbs for the
week. and at the three chief markets to
l1,9S4J0 Sales for four weeks have been
46, 109 200 lbs 22,53S 500 being domestic,
against 1911 $50 in all last year
Delay in the iron industry is partly be-
cause wages have not been settled at all
works. though at many. and partly because
steadily rising demand does not yet raise
prices. In some products prices are a
shade lower Notwithstanding a larger de-
mand, owing to competition between works,
but bessemer is a shade higher. In stIuc~
tural work. plates, sheets and bars for the
enormous operations of agricultural imple-
ment works, the demand increases. and for
rolling stock owing to the abundance OF
crops.
Failures for the week have been 236 in the
United States. against 2S1 last year, and
twenty-eight in Canada, against forty last
year.