The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-07-24
PROSPERITY AT HAND
BRADSTREET'S REVIEW OF TRADE
CONDITIONS QUITE OPTIMISTIC.
Increased Confidence Also Noted by r..
G. Dun & CO.-Miners' Strike the
Only Serious Drawback.


NEW YORK, July 23.-Bradstreets to-
morrow will say: The widespread conf
dence that there will be a marked revival
in general trade in the fall continues to
grow and with it material evidence that it
is well founded. Chicago jobbers in cloth
ing, dry goods and shoes, and manufac-
turers there and elsewhere, of pianos, or
gans, wagons and farm implements report
that fall business has begun which is
much earlier than usual. The distribution
of general merchandise from ST. Louis is
a little less active although trade there is
favorable. Like reports are received from
Pittsburg, Notwithstanding dullness in iron
and steel; Savannah in spite of this be-
ing the busy season on plantations; Omaha,
Milwaukee, Duluth, Minneapolis and ST.
Paul, where merchants are feeling the in
fuence of prospectiVely large crop of
wheat, and from Galveston and other
points in Texas on the favorable crop out
look and confidence in an increased move
ment of merchandise next fall. Demand
for supplies for shipment to the Klondyke
gold region has made July the busiest in
stead Of the .dullest month in the CONNER
cial year at Seattle and has an influence
on sales of staples at Tacoma, Portland
and San Francisco.
The worlds wheat crop outlook continues
70 favor the United States as much as it
did eighteen years ago. The outlook Is that
Russia alone of all other wheat exporters
will be able to compete with the United
States. The advance of more than 20 cents
a bushel, compared with year ago, in the
face OF a domestic wheat crop pro baby
100 100000 bushels larger than last year, and
the prospect for a continued higher level
for quotations, owing to increased demand
from 1mnOrtlnQ countries QXnl9in w q
American farmer is to secure his proper
ton OF the advance in the coming era
of prosperity. That he is alive to the situa-
ton is Indicated by tendency to hold
back wheat already harvested notwth-
standing higher quotations.
UnfaVOrable features include the cOntinu-
ance Of the strike of bituminous coal min
ers in the Western and Southern States
which now begins to threaten the continued
activity of industries dependent upon that
variety Of fuel, the practical stagnation of
the Bessemer pig iron and steel billet mar
the shutting down of New England cotton
mill machinery to reduce output and get
rid Of stocks on hand and the unsatisfac-
tory condition of the wooden goods market
owing to the relatively low prices of prod
ucts compared with quotations for raw ma
terial.
Exports of wheat flour included as
wheat from both coasts of the United
States and from Montreal this week
amount to 1,978S28 bushels. an increase of
about 600 bushels, compared with last
week, for which shipments from the ports
OF new I DIX ara Baltimore are largely re-
sponsible: The corresponding total in like
week last year was $4,000 bushels, in the
week two years ago, 1900 bushels, three
years ago 3,8SS,000 bushels, and in the cor
responding period in 1893 it was 1853, 900
bushels. Exports of Indian corn amount to
229S, 379 bushels this week, contrasted with
1000 bushels last week, 900 in the
week a year ago 10000 bushels two years
ago, 256,0O0 bushels three years ago and as
compared with 1,5S7,0OO bushels in the like
week of 1893
There are 200 business failures reported
throughout the United States this week,
compared with M7 last week. 2S0 in the
week a year ago, 239 in the week two years
ago, 237 three years ago and 439 in the
corresponding period in 1888. There were
minion of Canada this week, against 80 last
week, 81 in the week a year ago and %
two years ago.
DUN & Co.'s Weekly Review.
NEW YORK, July PR. G. Dun & Co.'S
weekly review of trade tomorrow will say:
The end of uncertainty regarding duties on
imports give greater confidence alike to
those who have opposed and those who
have favored the change The great
strength in stocks, particularly in
those of the granger list, reflects
assurance of heavy crops. There is another
element of confidence scarcely observed
week ago. The heavy increase in receipts
of gold whether from one side Of the
at the minis and in the banks Of this coun-
try and if the yield from new regions an
swers current expectations it may have an
influence akin to that of gold discoveries
in California. The one retarding force, the
strike of coal miners, has caused the clos
ing Of few manufacturing works for want
of fuel, but negotiations for settlement are
still pushed with hope.
The wheat market is the sensation of the
month. Since July the price has risen Il
cents by Wednesday, when a reaction of
cents was not surprising, but the close was
5sc higher for the week 1t is notable that
this rise came in the face of highly encour-
aging crop news which is not disputed and
had for support nothing but foreign condi-
tons and demand. Actual buying for eX-
port has at times been heavy and loading
of cargoes here and in California for coun-
tries which usually contribute to European
supplies greatly strengthens the impress
sion produced by continental reports That
there is speculative handling behind the
for export has not yet resulted in Atlantic
exports quite as large as last July ito date.
1852, 440 bushels, flour included, against A.
961 TAG last year, Western receipts, 5,252.271
bushels in July, against 10,275257 last year
indicate concerted delay of shipments
which, however. rarely withstands the in
f1uence of a substantial rise Corn exports
are still heavy, ,6635,395 bushels. in July
against 2,42l, 999 last year. which perhaps
reflects more certainly than the wheat
movement the actual conditions abroad.
Both because of the season and because
trial operations are waiting and yet with
improvement which under such circum-
stances is significant. The half yearly pro-
duction of pig iron exceeded that of the
last half of 1896 by 7565S5 tons but outside
the great steel companies there is little
activity al this time, though they are in
creasing their output. The Illinois Company
has sold basic steel for export to Germany
a New York sale of hoops for export to
Manchester is announced and additional
orders for Pennsylvania iron bars to Eng
land BeSsemer pig is a shade lower with
other quotations unchanged but the de-
mand for plates, sheets, pipes and struc-
tural work is growing. Minor metals are
in better demand tin at 1880 and lead at
315 cents, and copper is sustained at IFS
cents for lake exports, though the June
production was 1858 tons, and that OF the
half year los Col tons. There is general
advance in boots and shoes avera ging
about liz per cent. with a larger demand
as dealers lose hope of lower prices. but
leather is unchanged and hides a Chicago
average per cent. lower The
ground the curtailment of pro-
duction in cotton for a time is really
a gain. The demand has somewhat in
creased. but the accumulated stocks of
goods must be reduced before Impotence
to buy can be expected The demand for
grades, with reported large sales at adj
Vances of to 10 per cent. over last spring.
Speculative sales of wool continue large
and prices are very strong, especially at
the West.
Failures for the week have been 227 in
the United States. against PSI last year, and
2S in Canada, against 29 last year.
Hides and Leather.
T,,I,r CT