The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-05-21
THE WEST PROSPEROUS
A SITUATION AFFORDING EASTERN
BUSINESS MORE STRENGTH.
Strong Bank Statement Expected To-
Day-Dun & Co.'s Weekly Report
shows General Improvement.

NEW YORK, May 20.-R G. Dun d CO.'S
weekly review of trade will say to-mor-
| row: Growing accustomed to war POSSIBLE
| ties, which are mostly far from probabili-
| ties of evil and finding the Nation moving
! along steadily in it's industries, people are
grasping the idea that it is throwing away
| some months of active and profitable life
| to wait until war clouds have passed.
! Western prosperity has so greatly overbal-
| anced timidty of Eastern capital that actu
| al business done increases. Railroad earn
ings promise better for May than a month
ago for April, and payments through clear
ing houses for the week show a gain of
Sc per cent. over last year and rs per cent.
over 1892, whiles month ago the increase
over last year was 1886 and compared with
1892, there was a decrease of ~ per cent.
Several large contracts. kept back for some
weeks because of hostilities, have been
placed, and instead of works closing or
ducing force returns show the starting of
some works long idle and increase of force
or of hours at others. Government work
| occupies many establishments, but it counts
| for little compared with other demands
The key of the situation is the prosperity
| of the West. which the unprecedented mar
| keting of breadstuffs has caused, with the
| prospect of good crops to come. These
| prospects and actual receipts of wheat.
| amounting to 5.S76,716 blu for the week,
! against 2,439169 last year. with advances
| also in other grain and cattle, have pro-
| duced a demand for rails, cars, car materi-
| lalS, fencing, agricultural implements, boots
| and shoes and all textile goods which was
| not anticipated from Eastern indicat tons.
| Exports of wheat do not diminish but in
three weeks from Atlantic ports. -four in
| cIuued, nave been 800, 90 bu, against ATS
| 742 last year, and from Pacific ports, 173S-
| l2S bu, against ,637 last year. The price
| of May wheat fell 41ec on Saturday, rose &c
| Tuesday, and closed SEC higher for the
week.
In IRON. Notwithstanding the greatest out
| put ever known, the demand has caused
| some advance in Bessemer pig, with only
| slight decline in the price of gray forge at
| Pittsburg, but full quotations are obtained
Sheets e Markets aTe Dull but a d the
West, are strongly sustained by demands
for car building, .tin-plate manufacture and
other uses. In plates and structural forms
all the works fully employed and gen.
| orally crowded for months ahead. One con-
| tract for six thousand tons of arnior plate
| for Great Britain has been taken by works
| far inland with another of smaller guam
| tity, showing that the export demand, in
| arrested. Tin is sustained at 14.5c by large
| consumption. and lake copper at 12c, In
| spite of American production, amounting to
| larger than last year with slight decrease
in the production of foreign mines.
me textile works ii, are dong rather better.
| have recently started again, and print
cloths are Lice higher. Numerous wooden
mills have been. pushed to new activity by
| government orders, and prices for a few
| grades of goods are better, with a stronger
| tone in the market generally, although some
mills of Importance have stopped, as their
| orders for the season have run out. While
| sales of wool are small $685. 800 pounds for
| the three weeks past, against 1888 700 last
| year, the manufacturers have ample stocks,
| although some are obliged by government
| orders to seek in the market grades of wool
| which they had not expected to require.
| Failures for. the week have been $50 in
| the United States. against 24S last year, and
| 90 in Canada, against 81 last year.