The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-09-11
The Prosperity Wave Still Sweeping
Over the Country.

NEW YORK, Sept. 1O.-R. C. Dun & Co.'s
weekly review of trade, in it's issue to-
morrow, will say: There is no hating in
the advance. Business grows better in all
ways, for, while it's speculative end breaks
conspicuous gamblers on a decline, a steady
increase in production, in working force and
in the power of the people to purchase is the
feature which overshadows all others. Re-
ports of New York trades unions show an
increase since one year ago of "a per cent.
in the number of men at work, and a similar
increase among men in like position
throughout the country would exceed 10000,
while every week adds many establishments
to the active list. The coal miners strike
has disclosed such facts and brought to
light such differences that work will prob
ably be very soon resumed by a large share
of the men. The farmers are helped by
higher prices for wheat, and while Western
receipts do not show that they have mar
keted tenth Of their crops, assurance of a
handsome profit to come prepares them to
buy literally hereafter. Because Of this
and the increase of hands at work, dealers
throughout the country have started to re-
plenish stocks, which is the great force at
present operating in manufactures and
trade, though distribution by retail trade
has greatly increased.
A gain of II per cent in one month in
the output of pig iron, from 165,S7S tons
Aug. / to 1886 Sept. l, with knowledg
that half a dozen other furnaces are prepar-
ing to resume and that unsold stocks have
been reduced a. 400 tons weekly in August
indicating a consumption of about Iy0, 100
tons, more than explains the moderate ad-
vance in prices of finished products. averae-
ing but d per cent. since the lowest point
Aug. Il. Pig is shade stronger at Chicago
but the proof that the advance is healthy
is found in the growing demands OF con-
sumers, especially for bars, with inquiries
for 100000 tons reported at Chicago for
structural work, including 1900 tons for
Santa Fe bridges, for all sorts of car ma
terial, including 10000 axles, and for plates
especially for saipyards on the lakes, SO that
most prices have advanced / per cent
Rods, sheet and merchant pipe are in heavy
demand. Copper is steady and lead shade
stronger at 4.l5 cents, and the production
of coke has reached $4,000 TONS with l2,717
ovens in operation.
Wheat has risen cents the past week. not
in a furry, but in answer to the daily in
crease of foreign demand Though reports
of the crop, now almost wholly out Of
danger, indicate yield never surpassed
but once, foreign accounts will strengthen
the belief that the deficiency abroad will
be about 100 100000 bushels more than usual
and meanwhile reports indicate that less
corn than was expected will be available
for export. Its price has risen about "a OF
a cent. While wheat receipts at Chicago
have been breaking records, receipts at all
the w eSleTu pOlIlS dI0 LOT the week a IT.
tie below last years, but Atlantic exports
9,77S,l 1873 bushels, -four included, against 4270,-
755 last year for two weeks, with 5,579.77I
bushels corn, against 1870 I04 last year, IN
dictate foreign demand apparently limited
at present only by ship room.
Since the small corner in August cotton
has relapsed to w cents, no rumors affect
ing prices much. Northern mills are con-
Stunning very largely, with d continuing de-
mand for goods which has advanced the
prices of many. With enormous speculative
sales of wool which appear to constitute
most of the market at Boston, there is also
more buying there and elsewhere by the
wooden mills, which are enjoying extraordl-
nary demand for goods at prices averaging
net 10 per cent. higher than was paid early
in the year. The average advance for the
week in sureties has been SLIP per share
for railroads and 70 cents for trusts.
Failures for the week have been 215 IN
the United States. against 315 last year,
and So in Canada. against AZ last year.