The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-10-15

NEW YORK, Oct. AR. G.. Dun & Co.'S
weekly review Of trade will say tomorrow:
With actual payments through clearing
houses 1872 per cent. larger than in the same
week of 1892, it cannot be said that business
is in any sense falling off, and yet many
are complaining that amount realizing is
smaller than was formerly realized in good
times. In almost every branch of business
trade is now transacted on narrower mar
gin of profit than in any other time of fair
prosperity There is a great change and
perhaps permanent one, in the percentage
of profits derivable from trade and manu-
facture as well as in the profits obtainable
by transporters. Progressive civilization
calls for a lower range of profits and of
prices as the volume of business transacted
provement in the condition of the working
millions.
Wheat is more active and prices about
cents higher for spot and nearly cents for
the December option. Very heavy pur-
chases have been made within thMpast few
days. not as yet reflected in the official rec
ord of shipments, but the exports from both
coasts flour included, have been 4,1O1, 40
bushels against obs for the same week
last year. 1t is especially interesting that,
ir spite of the general disposition of farm
ers to hold back their wheat, the Western
receipts for the week have been much
larger than last year. and for two weeks
90 ass bushels, against ,554 last year.
While little attention is now paid to the
official reports, they seem to foreshadow
larger return for the crop than has been
made in any previous year The price of
corn has advanced about cents, though
receipts are just now larger than a year
ago.
The price of spot cotton is 1-16c lower than
week ago, and the January option has also
lost few points, while there is a weaker
market for goods. This is partly due to the
official admission that the prices of nrint
cloths, now 1-16c below 2 cents, cannot be
sustained without a selling agency which
is now proposed. Although the production
at Fall River is in excess of demand, the
difficulty in prices is probably more largely
due to the belief that a big yield of cotton
must reduce the price of the material.
While some wooden mills have started OPP
erations during the week, quite as many
have stopped. Although wool Ms about 10
per cent. lower luan it was Feb. l, the man.
ufacturers are not buying and the market
is remarkably dull, with sales during the
past two weeks of only 6179,7OO pounds at
the three chief markets, against A,931, 900
pounds last year and IA, 300 pounds in
1896 and IS. 800 pounds in 1892 The gen.
eral feeling is that the price of the material
must decline before the manufacturers can
much increase it's sales Orders for goods
have been a little better and a few mills
have resumed operations, but there is as
yet no such demand is necessary to Sus-
tain current prices of wool.
The iron manufacture again reports
small increase in weekly output, 2l5, 635 tons.
against 2l3043 tons a month ago, and with
the decrease in quantity of unsold stocks on
hand outside lie great steel companies the
apparent consumption for the month of
tons in August. There are quite heavy
Eastern orders for foundry iron, fully sup
porting prices, and at Chicago prices of 10
cal iron are strong with less disposition to
sell Southern pig at reduced quotations. The
orders for finished products include very
heavy demand for plates, especially for ship
Yards, several of considerable magnitude
for structural works, covering about l5,OOO
tons, and an unusually heavy demand for
bars especially on account of orders for
ear works. although there has been an ex-
pectation Of q big break in prices of cotton
ties In pipe Pittsburg has been able to
place an order for thirty miles of ten-inch
pipe and other orders for one hundred miles
are practically closed.
Failures for the week were 205 in the
United States. against 223 last year, and
twenty-five in Canada, against thirty-six
last