The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-08-27
VOLUME OF BUSINESS
CLEARINGHOUSE ESTIMATES MAKE
1T GREATER THAN 1892.
Speculation Said to BE Partly Respon.
sible for the Increase-Dun & Co.'s
Weekly Trade Review.

NEW YORK, Aug 26.-R. G. Dun & Co., IN
their weekly review of trade. viii say: The vol
ume of business reflected in exchanges at the
principal clearing houses is 2o.4 per cent larger
than last year and 26.S per cent. larger than in
1892 heretofore the year of largest business and
highest prosperity ever known Part of this In
crease was due to speculation at New York. but
there remains healthy increase the best
of previous years and though in branches
business is not satisfactory in character in nearly
all 1t is in volume larger than ever before. No
unfavorable change appears in the prospect OF
crops, which the welfare of the country so
largely depends nor is there present or threaten
ing financial disturbance. Europe has not wearied
of buying American securities. although some
spectators have been selling nor is there shown
any want of confidence among American in
vestors Comparisons as to foreign trade are apt
to misead because imports last year were ex-
traordinariy small after the big rush TO antici-
pate new duties. while exports were beginning to
show the phenomenal demand which made the
year quite the most remarkable in history.
Hence the decrease of Is per cent. from New York
in August thus far is not alarming, but sales Of
products yet to be forwarded large and have
stopped any advance in the current rates of for
eign exchange. Nor is 1t all disheartening that
imports at New York for the month thus far ex-
coed last years by nearly s5OOOOOO. since last
year they fell below those of 1896 by more than
s4.OOOO0O
Wheat goes down Sc for the week, as IL there
were no foreign demand coming the obvious con-
cert of farmers to keep back wheat, the crop
being certainly very large. tending to encourage
a conspiracy of traders against them, which thus
far has entire control of the market. Atlantic
exports for the week have been 2,73i, 594 bushels.
against S56S 1863 last year, and for four weeks
of August b. 01 079 bushels against 1873 6SS last
year. while Pacific exports were 254, 2S9 bushels
for the week, against 770.Sl9 last year and have
been for the month 1863 794 bushels, against
l, 4O5 1888 last year. 1t is wise to remember that
the foreign demand account of last years
shortage is still tapping over. while all reports
show that foreign crops about an average.
The output of iron and steel no longer measures
the demand and the stipulated stoppages of fur
naces in the shenango and Mahoning valleys has
raised the price of bessemer pig at Pittsburg to
$3.50 and of gray forge to 1925, without any
certainty whatever that such prices can be main-
tanned when the valley furnaces resume opera
TONS as some of them doing. The nat
ural result is that the Pittsburg region is by so
much the less able to compete with the great
Illinois combination just formed, which is getting
all the business it do and promises to turn
iron at less cost than any other works in
the country. At all points bars promise larger
output than ever before ana structural Iorms ana
plates are in heavy demand. while the tn-plate
producers have found themselves obliged to adj
vance prices about 10c per box and the sales are
said to be very heavy.
Shipments of boots and shoes have been larger
than in any previous year. amounting to 1929
cases in four weeks of August this year. against
343 2Ss last year and 56376 in 1895. much the
largest for this month heretofore, and 323, 39f in
1892 While leather is quite stiff, Notwithstanding
extremely light purchases by manu- acturers,
hides yield little at Chicago. The reduction in
manufacture by the print cloth works expected
to reach one million spindes shortly does not dis
turb the market for staple and bleached goods.
which are unchanged.
Failures for the week have been 179 in the
United States against 223 last year and rs In
Canada, against 81 last year.