The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-07-17
SCARCELY A FEATURE OF TRADE
OUTLOOK NOT ENCOURAGING.
Money Markets UncIOuded and Pros
poets of Great Foreign Demand
Dun ~ Co. and Bradstreet.

Dun ~ Co. and Bradstreet.
I
NEW YORK, July 16.-R. G. Dun & Co.'S
weekly review of trade tomorrow will say:
Excepting the great coal miners strike,
which may terminate at any time, there is
| scarcely a feature of the business outlook
| which is not encouraging, the season con-
| sfdered. Crop prospects have been inn
| proved by needed rain in some regions, and
foreign advices continue to promise a large
demand. In many home industries, particu-
larly in building there is more activity
| than. in any year since 1882, and the week
has brought a better demand in boots and
shoes and in woolens While the movement
of freight, mainly iron ore, through the
Sault Ste. Marie canal is the largest in it's
history. With money markets unclouded,
there is nothing in sight to hinder rapid i'm
provement when uncertainty about legisla-
| uion mas been removed, Tor the miners
| strike could not last long if business and
industries should become active. There is
much less apprehension of a failure OF fuel
supply than there was during the first few
| days, when prices rapidly advanced, and
large quantities of coal from West Vir-
GINA have reached Northern markets. but
some OF the miners in that State have
struck. The advance in wheat TO a1sc was
| not due to the government estimate, which
| was followed by a Decline but TO foreign
| advices and considerable buying for export.
| Demand is already felt from Australia,
| South Africa, Brazil and even Argentina,
| while the promise tor European crops is not
conslde- a bright. The disposition OF farm
! erS to keep back wheat for higher prices
| may affect the outward movement but At
| lanTic exports during July, flour included,
| have been 3,115,443 bushels, against z,953,Sl7
| bushels last year, although in the same
weeks 4,6593l5 bushels OF corn went out,
against 15l4072 bushels last year. Wheat
closed &c higher for the week and corn 12c
higher Cotton is a sixteenth higher. the
closing partial stoppage of important
New England mills hardly neutralzng in
market estimation the apprehenSlonS OF in
jury from drought.
The cotton goods market does not yet re-
duce large accumulated stocks, as the cur
tatlment of production SHOWS, but Is grow
ing a little more healthy without a change
! in prices. Woolens for the coming season
| have not been generally SHOWN, though on
| some low-priced goods advances of T12 per
| cent. are asked, and presumably will be
| asked on better grades. There is rather
more business in recorders and the tone is
more confident. Speculation in the wool
market continues, with prices at all points
| stronger, at Boston advancing with signs OF
| a boom among dealers in which manu-
| facturers are taking little part at current
| prices, and at the West, where holders are
| looking for a great advance Imports at
Boston were %, 1852 bales in two weeks, and
dealers are said to have bought 10000 bales
more in London. Sales were 49, 800
| pounds at the three markets for the week
| and 24572 800 pounds in two weeks, of which
| 1861, 200 pounds were domestic.
| The output of iron furnaces July l was
| 164, 064 tons weekly against 16S3 $50 tons June
| l, but several furnaces have gone into blast
| since July l and the output is large for the
| season. Presumably an unprecedented
| panieS, which are even now putting more
| furnaces into blast and have heavy orders
| taken when prices were dropped, while the
| demand for structural shapes and plates is
| large and for bars improving, though steel
bars are, now at the lowest quotation ever
known in Pittsburg, Sl72 to ~ cents with
Bessemer pig quoted slightly lower. Tin
plates are also lower at $40 for full weight
! and less than SO is paid for 100-pound boxes.
Failures for the week have been 2e3 in the
| United States, against 269 last year and
twenty-seven in Canada, against thirty
| last year.
Brastreet's Weekly Report.
NEW YORK, July 16.--Rfadstreets re-
port tomorrow will say: The dullest month
in the industrial year is duller than usual,
notwithstanding improvement among pot
tiers and others. This is due to a reaction
in iron and steel, prices of which are back
to lowest points on record, dragging de-
mand for boots and shoes and threatened
famine of bituminous coal. There are more
coal miners out than at this time last
week and Notwithstanding assertions that
arbitration will end the strike in the near
future some of the large operators in the
Pittsburg district declare that there is
nothing to arbitrate Manufacturers of
cotton goods and their agents report trade
slow owing TO higher cost of cotton and
low prices for goods. This has shut down
a number of cotton mills in Massachusetts,
and in Rhode Island. A fair business is
reported by Eastern manufacturers of
shoes, but the trade at Philadelphia is dull,
merchants hesitating to place orders. West
ern wholesale dealers in clothing report
distribution unsatisfactory. Western bar
iron mills are already shut down and if the
coal strike lasts another week thousands
of factory wheels will stop turning. This
checks tho stronger and more confident
feeling in industrial circles which was
pronounced a fortnight ago.
The heavy loss of sheep in Australia, due
to drought and speculation in wool on
tariff prospects have made wool prices
higher with large sales, about S000,000
pounds at Boston alone compared with
700, 900 pounds in the like week last year.
The worlds available supply of wheat is
probably the smallest at a like period in
many Years. Europe is expected to have
TO import 100 900 more bushels than last
year and neither India, Australia nor Ar
gentine is expected TO be able to supply its
price movement this week is to reverse
the growing strength of quotations in the
preceding fortnight; Exports of wheat
(four included as wheat from both coasts
of the United States and from Montreal
this week show the first sharp decline since
last April, amounting TO only 1922, g2
1853 900 bushels in the second week of
July last year, l.652.00O bushels in the like
week OF 1925, l,SlS,o9o pushels IN 1874, ana
SOFT 900 bushels in the corresponding week
in 1893 The heavy decreases in shipments
of wheat as compared with last week were
from New York city, Baltimore, Boston
land Montreal Exports of Indian corn
amount to 2,72s5lO bushels this week, al
most exactly the same quantity last
week two and a half times the quantity
exported in the like week last year. three
times the like exports in 1895, sixteen times
the amount shipped in the second week of
July, 1894, and more than twice as much
as the corresponding shipments in 1893
There are 247 business failures reported
throughout the United States this week
red with 2l3 last week On in the
week year ago pa in the week two years
ago 2l2 in the corresponding period of 1894
and as compared wiki SIT in the second
week of July, 1898. There are thirty-eight
business failures reported from the Do
minion of Canada this week. compared with
thirty-four last week. thirty-three in the
years ago.