The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-12-25
Wholesalers Benefited by Increased
Lines Pushed to supply Demand.
PRICES TENDING UPWARDS
EXCEPT FOR COTTON GOODS, WHICH
HAVE AGAIN BEEN REDUCED.
Drop i'm Exports of Wheat, but Marked
Grain-Gain in Bank CIearings.

NEW YORK, Dec. PAR. G.. Dun 81
Co.'S weekly review Of trade says The
weekly reports show a remarkably large
holiday trade. ct many points the largest
for five years. Moreover, at the season
when wholesale business usually shrinks.
the pressure of demands for immediate de-
liveres, which results from unprecedented
distribution to consumers keeps many es-
Establishments at work that usually begin
their yearly rest spell somewhat earlier. In
stead of decreasing, the demand for prod
ucts shows an unexpected increase in sew
eral important branches. Foreign trade
continues satisfactory. even in comparison
with the remarkable record of a year ago,
when exports exceeded Sill. 900 900 in Decem-
Der. Bank failures at Philadelphia, due to
individual operations, cause no disturbance,
end commercial failures for the month have
been less than half last years to the same
date.
The outflowing flood of grain is not
checked by Chicago speculation, though
more corn than wheat has been moving.
Wheat exports, flour included, nave been
$685. 32l bushels for the week. against $685.
SO5 the previous week, and 1546,443 a year
ago, and in four weeks Il, s95 bushels,
against 9O39,5S last year while corn ex-
ports, for the week 540.S28 bushels, against
175l ,74O last year, have been in four weeks
14,420151, against 8176,073 last year. Last
years corn movement was by far the great
est ever known, and this years wheat move
ment for the half year nearly ended has
been close to the maximum reached in 1891.
Wheat has varied little, closing &c higher
for the week after deliveries of surprising
magnitude at Chicago, and corn closes near
.ly cent higher. Cotton has also been NOV
ing largely, and has risen 1-16c
Cotton goods have further declined in
prices of bleached, which meet active South
ern competition, and the Fall-river spinners
insist on a reduction of one-ninth in wages.
other New England mills joining. Out of
101 New England works. forty-five have
passed dividends, fourteen at Fall River,
with fifteen others paying l per cent. for
the last quarter. The fall in the price, of
cotton when mills were holding heavy stocks
of goods placed this industry in a most en-
barrassing position.
Wooden mills have begun buying domestic
wool heavily, especially Montana and terri
tory, as if assured of large business for the
season about to open. Contracts of UNI
known magnitude have been made, it is said
many at previous prices, but others at
moderate advance. Wool is more firm, trad
ers having disposed of 100000 pounds ter
ritory and 100000 pounds other domestic at
Boston, and sales at three different cities
reached 1909 100 pounds.
There is q stronger demand for iron and
its products Bessemer rising to SO and
grey forge to SO at Pittsburg and the East
ern Bar Association has advanced the prize
to III cents for refined and 1.2l2 for common
Owing to possible changes in freight rates,
Southern pig is offered 25c lower. A strk-
ing feature is the usual demand for the
season in building cars, OF which 4,UOO nave
been ordered at Chicago by one trunk line,
and rails there have advanced TO S2O in new
business with sales here of 5000 tons for
home use, and 1000 for Mexico. Building
contracts in unusual number for the season
come up. also contracts for three drainage
canals at Chicago. The Illinois steel works
have eight months business booked, with
more orders offering. Pipe is dull and weak
but rods are quite active, and billets have
advanced about SOC, The output of Con
nellsville coke, 155,12l tons, is the largest
for any week this year, and contracts to
supply a Mahoning furnace at sligo for half
Of next year have been made. Anthracite
coal is loo stronger, with colder weather.
Tin is slightly weak, owing to large ship
ments.
Failures for the week have been 292 in the
United States, against 297 last year and 80
in Canada, against A last year