The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-12-17
Prices of Many Articles Advancing,
During the Winter.
EXPORTS STILL ENORMOUS
NOW VALUED AT TWICE AS MUCH AS
OUR PURCHASES ABROAD.
December So Far a Record-Brealxer
All ArOund-Increase Of 2s.4 Per
Cent. in Bank CIearings.

NEW YORK, Dec 16-Bradstreets to-
morrow win say: Likening the general busi-
ness of the country to that of a water
course, it may be authoritatively stated that
nearly all the channels of seasonable trade
are at the present time running full, and In
some lines of business the stream is vir-
tually out of the banks This is particularly
the case in iron and steel, where production
and consumptive demand are alike going on
at an unprecedented rate, at a time, too,
when it is usual to look for quietness and
even dullness in this industry. Nothing like
the present activity in this branch of trade
has been seen for many years past if, in-
deed, it has ever been equaled. Advices
from all the leading centers of iron produce
ton are of an exceptionally eager demand
for the crude and manufactured products
and of advancing prices, the only anxiety
expressed being that by buyers desiring
early delivery. Probably never before in
the country's history has it been possible for
an American steel company to refuse prof
liable order for rails for foreign account, on
the plea that its mills were already fully
occupied so far ahead as to preclude its try-
ing for the business. Higher prices for pig
iron, steel bilets, soft steel and all sorts OF
car material are reported, while the produce
ton of raw material is at its maximum.
Ship building, too, contributes its portion OF
activity to the iron trade by its urgent calls
for material.
In other Zines of business the situation
as regards prices is a favorable one. nota~
BILE among the advances reported being
nearly all the cereals, cotton, coffee, lum-
ber, copper, lead and variety of other less
prominent staples. Following the slight re-
cession shown in wheat values of last week
an improved demand for export has again
developed, which is evidenced by the fact
that stories of keen competition from Ar
gentina and Russia have been more or less
discounted, the United States remaining, as
for some time past, the principal source OF
supply of the world. Increased interest 10
being taken in cotton at the advanced
price, and the situation of the manufac-
tured product has been strengthened by
sklful management of the print-cloth sit
uation which in turn has induced more
liberal demand for kindred products for the
spring trade Seasonable quietness is re-
ported in the lumber trade, but prices re-
tain all their old strength. and an active
demand is looked for with the turn of the
year. Holiday trade is reported extremely
active at most markets.
The country's export trade is Of the larg-
est volume ever knOWns lHdl 4NctSihDSr
surprising the total for December year
ago, with the indications favoring total
trade for the calendar year at least one-
sixth larger than year ago, and our sales
abroad aggregating two dollars for every
dollars worth we buy. Wheat, including
-four, shipments for the week aggregates
6.O76625 bushels portland, Me-, not re-
ceived), against 6S6S,952 bushels last week,
AGO.. .399 bushels in the corresponding week
of 1897, 2O56 943 bushels in 1895 and ,3S3
bushels in 1894. Since July this year the eN-
ports of wheat aggregate 1O9, 4O3,719 bushels
against 11s 500 097 bushels last year. Corn
exports for the week aggregate 3,25l, 1856
bushels, against 1885, ,5S5 bushels last week.
4129S7S bushels in this week a year ago.
2,@4,15O busehls in 1896, 2O57,97O bushels in
1895 and 6,5SO,66 bushels in 1894. Since July
1 this year corn exports aggregate 72,27S.76A
bushels, against 7l,3S1,4 ,443 bushels during the
same period year ago.
Business failures are about nominal, num-
bering 233 for the week, against 257 last
week, 2S3 in this week year ago, 359 in
1896, 3S5 in 1895 and 800 in 1894.