The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-02-13
GOOD EFFECT ON TRADE
RESULTS FROM THE SMASH OF THE
GREAT STEEL RAIL POOL.
Large Orders i'm Other Lines show Re-
turning COnfidence-Dun e. Co.'s
Review of Business.

NEW YORK, Feb. 12-R. G.. Dun & Co.'S
weekly review of trade tomorrow will say:
No other event of the week approaches in
Importance the disruption of the steel rail
pool. IN two days after it a greater tom
mage of rails was probably purchased than
the entire production of last year, reported
as 500, 600 tons, and instead of SIS in Deem
Der and s25 in January. SIT is
now the price at which works
East and West are seeking orders,
the Carnegie Company even selling at ST.
Chicago delivery. These sales will employ
many thousand hands, with an important
decrease in the cost of track laying or re-
newals TO railroads. Even more important
is the result that reconstruction of the bill
lett pool will be impossible as long as the
contest over rails continues and the man.
ufacture of structural forms, bars, rods,
wire, n,ils, tin plates and many other prod
ucts has a chance to secure cheap ma
terial in the near future. Also important is
the struggle between the two great COM
panies producing MeSaba iron ore, one al
lied with the Illinois Steel and the other
with the Carnegie Company, which is ex-
pected to bring about lower prices for ore
and to push many mines to their utmost ca
pacity. But in the war of rival interests
wages are already reduced by some large
concerns.
Another event OF influence is the purchase
of 10000 pieces of print cloths by NJ. G. d.
Borden, at 2.56c, which has already caused
an advance of 2.69c, with stronger tone
for prints and other cotton goods. The
moral influence of such purchase, mani
Testing confidence in the future, is apt to
parttme mills predicting e' print s" Cloths is
going into effect, the productive capacity
and wages of operatives will be for tine
reduced, but if demand of traders to re-
plensh stocks is started, the effect may be
altogether beneficial The wooden industry
also meets an increased demand for low
and medium goods, and dozen more mills
have started against three stopping for va
rious reasons. Clay mixtures are reduced
to 75c, with other prices maintained.
n n6EepI In steel ra1isi cnanges In iron
forge, wire and cut nails. Competition re-
duces American plates to 1920, against $3.50
lead stronger, at 327lsc. Speculation in
products has hardly been more active than
of late, and prices generally tend down
since declined 23ic. Western receipts are
increasing, but for two weeks have been
only 1895 bushels, against 5,s23. 213 BUSH
els last year while Atlantic exports, -four
included, have been for the week about a
quarter larger than last year and for two
weeks 3,S55,C96 bushels, against 1888, l25
About every week some new speculative
guess by somebody impresses many trades
more than the current records of actual
movement. The cotton market has been
depressed in like hammer by Mr.. Ellison S
estimate that the American crop would
prove S650,000 bales. but the quantity COM
ing into sight has also surpassed previous
guesses and indicates a larger crop than
most spectators estimated. The curtail-
ment of consumption in the mills is not a
guess. although some overestimate It, since
probably not more than a fifth of the spin
dies will be stopped third of each week
for quarter of the year. The prices de-
l .ol ~s~.I@<1 g..
quarter for the May option.
Failures for the past week have been 267
in the United States against 321 last year
and siXty-one in Canada, against sixty
seven last year.