The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-12-04
JObbers I'm Many Lines Are Resting,
While Retailers Are Preparing to
Reap Their Christmas Harvest.
WAGES HAVE BEEN ADVANCED
AND PROSPECTS FOR A FRESH BOOM
IN TRADE ARE GOOD.
November Failures Heavy-WOOlen
Industry Active-CereaI Exports
Heavy-Bank CIearings Gaining.

NEW YORK, Dec. 3.-R. G.. Dun & Co.'S
weekly review of trade, in It's issue to-mor-
row, will say: The monthly report Of fall
ures shows defaulted liabilities of $1l $40, 1876
in November, against sl2, 709,S56 last year.
Because of three large failures for So, go 600,
not due to present conditions, the aggrc gate
In November was only $1,100o00 less than
last year, and except for these would have
been smaller than in August, September or
October. The decrease in nearly all branches
of business shows that payments have been
remarkably good and defaults unusually
small Other evidences of the state of bust
ness are convincing, except in speculative
lines. Wages have been voluntarily adj
vanced for nearly thirty thousand workers
in woolens and iron. Stocks are somewhat
stronger, having advanced $l.47 for railways
and $1.57 for trusts. The true value of Amer
lean railway stocks is steadily rising with
earnings. which, for November, thus far,
are 2O.9 per cent larger than last year nd
81 per cent. in same weeks of 1892.
1t is the season for waiting in most in
dustries, but at least one other furnace has
gone into blast, and the lowest price of Bes-
semer at Pittsburg, after purchases of 900
tons is $1O.15 per ton, with 1926 for gray
forge Eastern holders are sometimes i'm
patient and yet sure that January will bring
a large demand, and, meanwhile the award
of ship-plate contracts to Eastern firms
gives them important help, though the Ge-
mand for bars is slow at the East and at
Pittsburg, but is really strong at Chicago
for agricultural and railway supplies.
Structural orders are seasonably in abey-
ance. but contracts for pipe for London
elicit sharp bidding at Pittsburg.
The voluntary advance of 20 per cent. in
wages of worsted workers at Providence,
restoring the rates CT 1898, is evidence of
the prosperity of that manufacture. After
much hesitation in other branches, which
may be justified this important department
of the wooden industry puts itself at the
front, virtually declaring its ability to face
any foreign competition. The purchases of
Australian wool at Boston have again been
large, 2,43 900 pounds, out of 6,170,7O0 pounds
of all wool at the three chief markets,
against Ss21 800 pounds for the same week
last year. But other markets are extremely
quiet, and Boston is doing the selling at
prices not named. No gain appears in cot
ton manufactures, ana the low price OF cot
ton still hinders the buying Of goods. Lower
prices than have ever been known are
quoted for print cloths, and also for some
grades of prints, and the average of cotton
goods is remarkably low.
The wheat market has deceived every
body, dropping in the face of an enormous
foreign USnldIu. just Wlien
might reasonably have been anticipated.
The Western receipts, 6,SS2,42 buShelS,
against 1854 621 bushels last year for the
week and for five weeks, 80 1862 ,529 bushels
against 20 81 ,456 bushels last year for the
same weeks are just now more impressive
in the market than the Atlantic exports
which have been 4,1S7 672 bushels, -four in
cluded, for the week, against 2OlO.45I last
year. and for five weeks, E,617 AL bushels,
against 917 ,153 bushels for the same weeks
last year. But in the long run the outward
movement will affect prices, although the
surprisingly large increase at the West indi-
Gates a considerably greater yield than has
been ANTICIPATED. So the enormous receipts
of cotton from plantations, exceeding those
TO date from the great crop of about 10000
600 bales in 1854. tend to check all specula-
ton, although both foreign and domestic
demands for spinners have been materially
restricted.
Failures for the week have been 3O6 in the
United States, against 3I9 last year, and "a
in Canada, against 55 last year.