The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-06-26
CONFIDENCE RESTORED
INVESTORS FIGURING ON NEAR APP
PROACH OF PROSPERITY.
Advancing Prices One of the Encour-
aging Features Dun G Co. and
Bradstreet Disagree.

NEW YORK, June 25.-R. G. Dun & Co.'s
weekly review of trade tomorrow will say:
There is no step backward in business, al
though the season of midsummer quiet is
near. Improvement continues gradual and
prudently cautious as before, although in
many branches evident where no signs Of
it appeared few weeks ago. Business men
of the highest standing in all parts of the
country, having gradually perceived that
the tide has begun to rise, are regulating
their contracts and investments and their
plans for the future with confidence quite
unknown to them a short time ago Great
changes before the adjournment of Con-
gress are hardly to be expected, but re-
moval OF uncertainty is with reason expect
ed to bring into operation buying forces
which have been restricted for months
The main factor at this time is the steadily
Frightening prospect for crops. Harvesting
Of wheat has already begun in some winter |
wheat States, with surprising good results
in the central region of California, so that
100000 tons is now called the minimum from
the latter State, and the statisticians of
repute calculate on CO. eco 900 bushels of Win
ter wheat beyond the government estimate.
Spring wheat is doing remarkably well,
with practically unknown increase of
acreage. The price has advanced 11ac dur
ing the week, with a decrease of l. 200, 900
bushels in Western receipts, and Atlantic
exports of only LAS, 947 bushels flour in
cluded against l, 1891 last year; but it
is just the season when figures have no
value except as proving how erroneous
were estimates of the crop of 1856. Cotton
was lifted an eighth without reason and
has fallen back much because every
thing points to larger crop than has been
commonly expected. Iron and steel prod
&c ~ fro nfin in
hshed quotations, but only because private
concessions, which are now refused, were
by various authorities comDlacently con-
cealed two weeks ago. Pig iron is firmer,
with a better demand in the East and at
Chicago, but the Impotence of valley fur
naces to resume work keeps Bessemer and
grey forge at last weeks quotations at
Pittsburg. The best of the news is the ma
terial increase in orders for plates, in part
for ShiDbulding, in bars for agricultural
implement works, in structural shapes for
buildings and bridges, and in galvanized
sheets. one heaVy CONTRACT Tor 3Vo mics OF
30-inch and 100 miles of 1O-inch pipe, sought
by the Australian government for gold re-
gions eXcites many hopes in the trade.
The great ore-producing companies are cut
ting prices of Mesaba BeSsemer Fayal to
S2.10, apparently in order to score the big
gest possible business of the year as a
basis for future combination Tin has slow
ly advanced to 14c, in spite Of heavy ar
rivals 1900 tons of lead have been sold,
moderate, quantities now bringing S,4Z12c,
11kc. There is an encouraging increase in
the demand for all textile goods-eVen for
cottons, which have so long been SLOW
and though it is but moderate, there is
nothing of a speculative character in the
transactions. and prices are nrmly held.
Recorders for woolens have been rather bet
ter than were expected from clothiers, and
fairly good form dress goods. Operations
in spring goods are still deferred. Whlle
mills are somewhat better employed and
are buying to some extent, most of the pur-
chases of wool are for speculation, nearly
three-quarters being a. Boston alone and
the aggregate was S,73S 500 pounds at the
three chief markets 5,6lO,3OO OF foreign
wool. Domestic wool is still held at rela-
lively high prices in the West.
Failures for the week have been ZIG IN
the United States, against III last year,
and "a in Canada, against "a last year
Bradstreet's Weekly Review.
NEW YORK, June 25-Bradstreet's re-
port tomorrow will say: The persistent
instrumentation of the actual state of
trade throughout the country during the
past month in an apparent endeaVor 10
make the prospective Improvement in bust
ness appear to be its present condition de-
mands an examination as to the facts, and
Bradstreet presents condensed results OF
interviews with representative manufac-
turers and merchants at more than fifty
important commercial and industrial CEN
tiers east of the Rocky mountains The de-
mand, except in a few lines, is less pro-
nounced than it was two months ago.
There is no material increase in the vol
ume distributed compared with year ago,
and prices for many staples are lower.
But there has been an improvement COM
pared with the situation prior to the presl55
Dental election of 1896, and as contrasted
with last January. Many of the larger
merchants and manufacturers characteTlZe
the business record for the first half of 1897
as a disappointment in contrast with an
ticipations in December, 1886. On the other
10, iS
of demand this fall. OF the three great
manufacturing industries-iron and steer,
cottons and woolens-the first SHOWS rela-
tive most Improvement and Woolens next,
although tariff delays have taken the edge
off demand in that line and permitted i'm
porters to stock up with nearly two years
supplies. Cotton goods still suffer from
cut prices, excessive competition ana
heavy production. There is a better de-
ery which, aside from the prosperity OF
the bicycle industry, constitute exceptions.
Higher prices for leading cereals, Tor
meats and Havana tobacco, are note
worthy and reflect, respectively, unusually
small supplies of wheat and strength or
the control of the meat supply and exist
ing conditions in Cuba Exports of wheat,
flour included as wheat, from both coasts
of the United States and from montreal
this week amount to g 156,248 bushels, com
pared with 2,S47 900 last week, 2,SS7,O00 in
the week one year ago, 1946,0o0 two years
go La 600 three y saa F ago ana Of S igdSn
corn amount to 2,2S1, o6l Dushels TINS Week
compared with 1.924,O0O last week, GOO
in the week year ago SS4Vo9 lW Noo S yeaf IS
ago. $4,000 three years ago ana Lus0'Voo IN
the like week OF 1873.
There are 215 business failures reported
throughout the United States this week,
eompared with 200 last week, 2ls in the
week a year ago, 215 two years ago and iS9
in the third week of June, 1884. only sew
the Canadian Dominion this week, against
thirty-fou1. last week, nineteen IN the week
year ago and tWenls-slght TWO years