The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-11-27
Shipments OF Wheat, Flour and Corn
to Europe Continue Large and
Prices Are Advancing.
WEEKLY REVIEWS OF TRADE
LITTLE IMPROVEMENT NOTED IN
GENERAL WHOLESALE BUSINESS.
Iron and Wooden Industries Active
Gain of 52.7 Per Cent. in Bank
CIearings at Indianapolis.

NEW YORK, Nov. 26-R. G.. Dun & Co.'S
weekly review of trade will say in its is
sue of tomorrow: The heavy exports of
wheat with the renewed advance in price
is the most interesting and important
feature of the weeks events. Since August,
when the extent of the foreign deficiency
became realized, exports have been larger
than in corresponding weeks of any previ
Gus year. The cotton exports also have be-
come very heavy. and the out-go of corn
falls but little below last years anprece-
dented record, while in exports of manu-
featuring products, especially machinery,
all records for the season have been sur
passed. While the aggregate for November
last year was over $l00O00,0OO, shipments
from New York for three weeks have been
but slightly smaller, with fair prospect
that the known increase in cotton and other
products from other ports may make up
the deficiency. Meanwhile, imports are run
ming behind last years in New York nearly
100000 this month, so that another excess
of exports over imports, amounting to
about $50, 100000 for the month is probable.
But this would make an excess of about
$225, OO0,O 900 in four months.
After the slight decline last Saturday,
wheat rose to $1.00B, for November. with
No. red and other grades selling many
cents higher. Yet Western receipts are of
enormous magnitude-in four weeks z7072,-
104 bushels, against S38 bushels in the
same four weeks last year-while Atlantic
exports. flour included, were, for the week,
3,62S,446 bushels, and for four weeks 49,
439, S39 bushels, against 7,737,6S5 bushels last
year. The shipments from other ports have
also been heavy and nothing appears to
change former estimates of European
needs. Corn also continues to go abroad in
quantities almost as large last Year,
when all past records were broken, but the
price has slightly declined.
Cotton declined to 5S1 cents, the lowest
point for many years, with scarcely any IN
dications of speculative effort. More has
come into sight this month than during the
same time in 1894 from the largest crop
ever raised, while takings by Northern and
Southern spinnerS have been smaller, and
print cloths and some other staple goods
are at the lowest quotations ever shown.
In such conditions weakness is natural, al
though extreme estimates of yield are not
by some entirely credited. The demand for
goods from the South is larger since the
removal of embargoeS, and recent reduc-
lions in prices have stimulated larger trans
actions by dealers, but stocks held by the
mills are still heavy With 1861 900 pieces
of print cloths on hand against 2,212 900 a
year ago. and only 1880 oC0 Od pieces two years
consumption last year has been heavy
load ever since.
The iron industry shows no decrease in
production or consumption of pig, but with
much reduced orders for products, excess
of production is expected and Bessemer
falls shade, to $10.15, and gray forge to
1925 at Pittsburg. though Chicago and
Eastern markets show no change. Billets
are also weaker at Pittsburg. at 49, Ex-
pectation of lower prices tends to produce
them at a time when new business is nat
urally. small and the mills are working
mostly on old orders with buyers impatient
for deliveries. Other large orders are held
back in plates by inability of the works to
deliver in the time desired. In bars, agri-
cultural and railway manufacturing causes
a heavy demand at Chicago, iron being pre-
ferred to steel, and thin sheets are also in
better demand. but bars are shade lower
at Pittsburg, as are both wire and cut nails
Some large orders for rails by Eastern rail-
ways are reported
The wooden manufacture is still consun-
ing heavily in execution of past orders and
many agents are sold so far ahead that
they seek no further business. Some reduc-
ton in prices of wool appears possibly
averaging half a cent, with sales of AUS
tralan amounting to 100000 pounds in a
few large blocks in Boston, but the tone is
still strong. No change has occurred in the
cotton manufacture and the market for its
products is still irregular.
Failures for the week have been 236 in the
United States. against 800 last year, and %
in Canada, against SS last year.