The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-07-03
OWING TO SUMNER SHUT-DOWNS
AND SEVERAL BIG STRIKES.
General Conditions Promising and
Business Men HOpefUI-Dun ~ Co.
and Bradstreet Reports.

NEW YORK, July 2.--R. G. Dun & Co
weekly review of trade tomorrow will say
Midsummer vacations have commenced in
many works with the decrease of orders
usual at this season. This customary vaca-
ton is called a strike where agreements
regarding wages for the coming year have
not been reached, and the extensive strike
of Amalgamated iron workers announced
July l is of this nature but the strike of
coal miners in Illinois and other Central
Western States is not and may prove cost
ly. In some iron and cotton works wages
have been reduced, owing to, low prices
one cotton mill in Virginia closing because
reduction was not accepted. With a better
demand the employers will seek agreement
anG in its absence the workers before long,
so that the situation is distinctly of a mid
summer character. Large hopes are built
on prospective demand after the tariff bill
has passed. but the pressure in the market
of large imported stocks may defer it. The
general belief is that removal of uncertain
ty will in any case increase business. Since
much of the future depends on crops, the
Frightening prospects are of the highest
Importance. Estimates by persons usually
most pessimistic now far exceed any made
a month ago. one promising o59,U0JOO0 bu
wheat, with lower condition, but largely in
creased acreage OF corn. Cotton prospects
are brighter the crop appears to be early
rather than late in regions which were not
Flooded The movement of wheat is small
Western receipts for the week being 1850,
no blu, against 2,041,719 last year and At
lantic exports 2,06417S, flour included
against 2162, 172 last year, but a strong eff
fort to lift prices failed and the close is
1880 lower for the week with corn re lower
Cotton rose an eighth with small sales.
-ta Ind fCfT hal mi
summer, although the demand for finished
products still increases and disappointment
is due only TO the fact that the increase
is not yet enough to keep all mills at work
and thus bring better prices, which now
average slightly lower than ever before
though not / per cent. below those of
and a large order for India has just been
taken at price said to be So below British
bids. Coke production is increasing again.
as more iron furnaces are going into blast
and an addition of 25 cents has been or
dered in anthracite coal Tin IS higher, at
14.1c with larger consumption and copper
at 1014c for lake, with heavy exports while
lead has advanced to soc American max
ers are selling tin plates largely at 1920 for
full weight against $3.50 for foreign.
Textile manufacturers are waiting, and
cotton mills curtaling production with
large stocks on hand. and prices scarcely
changed while WOODEN mills are gradually
increasing work with better orders and
prices incline to advance a shade. EnOr-
nous buVing of wool 256 000 0G0 pounds this
speculation mainly, and some large lots
have been sold three to five times since ar
rival. Prices are somewhat stronger at
seaboard market, and so high in the inte-
rior that dealings in domestic are re-
strictsd, amounting for two months to less
than 21,000,0 900 pounds against o5,OOO,OOO for
eign.
Failures for the week have been 241 in
the United States, against 257 last year and
80 in Canada against % last year.
Bradstreet's Weekly Review.
NEW YORK, July 2.-Bradstreets
port tomorrow will say: Better weather
has favorably affected the sale of season
able goods. particularly clothing, hats and
shoes. Orders for prompt shipment are
fewer, but the movement of goods for fall
delivery has begun. The most encouraging
feature is the continued, and, in some in
stances, increased confidence of merchants
and manufacturers that the autumn will
bring larger volume of business at high
err prices. General trade is reported quite
satisfactory at Kansas City, St. Louis,
Omaha, Memphis and New Orleans, fair
without special expansion at Milwaukee,
Minneapolis, Cleveland, Savannah, Calves
ton and Chicago and slow or quiet at Biz
mingham, Little Rock Atlanta Charles
Cincinnati and Detroit None of the larger
Eastern centers record an increase The
least favorable feature of the week is
found in disappointment at lack of demand
and reaction in quotations for some Varie-
ties of iron and steel The threatened idle
ness of 200 900 iron, steel and glass workers
and soft coal miners is, except in the lat
ter instance, due, in part, to the season,
of the year. Exports of wheat (hour in
Guided as Wheat from both coasts of the
United States and from Montreal this week
amount to 2.616,SS3 bushels, against 900
last week, sol 900 in the last week of June,
1896, 2,0J coo in the like week of 1895, 1850 900
in 1894 and 3,6T. 900 in the corresponding
week of 1893 3D. e Exports of Indian corn
amount to l,923,98 this week. as compared
with 2.2S1, coo bushels last week, 1855, 600 in
the corresponding week last year. 3SS 600 in
the like week of 1895, 539 600 in 1894, and
as contrasted with $4,000 in the correspond
ing week of 1898
There are 1924 business failures reported
by Bradstreet throughout the United
ing off of 57S from the like total last year,
with which exception it is the largest ag
gregate of failures in like period Total
liabilities of individuals, firms and corpora
lions failing amount to 1913, $4,000, a de-
crease of 81, Sl900e from the corresponding
total last year, and of ST., 204 600 from the
liabilities reported in the first half of the
panic year, 1898. This total is also smaller
than in the first half of the year 1884, with
which exceptions it is the largest recorded
for the six months period in eighteen
years. While there has been only moder-
ate decline in the number of failures since
last year, liabilities have been Unexpectedly
increased by the embarrassment of several
large manufacturing and other concerns in
New England within the past quarter 1t
is worthy of note that the New England
States and the Territories alone among
groups of States and Territories report in
creases in number of failures compared
with last year
There have been .O74 business failures re-
ported from the Dominion of Canada TO
Bradstreet during the past six months no
less than in the first half of last year
with aggregate liabilities amounting 10 ST.
,000 a decrease of about per cent There
are thirty-two fewer failures in the prov
ince of Ontario and eighty-five fewer in
Quebec but liabilities of failing traders in
the former show a slight increase, while