The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-11-05
Bank CIearings 2O.2 Per Cent. Larger
This Week than Last Year and More
than During the Boom of 1902.
PRICES WELL MAINTAINED
EXCEPT FOR WOOL AND COTTON,
THE LATTER LOWER THAN EVER.
Exports of Wheat and Corn Heavy,
Also Large-Business Failures.

NEW YORK, Nov. 4.-R- G.. Dun & Co. s
weekly review of trade will say, to-mor
row: Not even the election has disturbed
business or industries on the financial side
this week. Although many are doubtless
waiting for the votes before borrowing, the
volume of business through clearing
houses is S.5" per cent. larger than last
year and lisa per cent. larger than in 1892.
While political doubts may count for much,
they can only have prevented a growth IF
business which might have been much more
than has been realized. Failure returns for
October are curiously puzzling, because the
small failures compare remarkably well
with those of previous years, and also the
failure of 100000 or more in about two
thirds of the business classes. There were
large failures i'll a few branches, not gem
orally due to present business conditions,
which made the aggregate $14,OO0OOO, but
neither the Sawyer wooden failures, nor
others, excepting, perhaps, some in ma
chinery and boots and shoes and leather,
indicate difficulties beyond those of the par
ticular concerns failing.
Neither the volume of business nor the
value of manufactured products diminishes
While Bessemer pig is sold against the
combination at Pittsburg 10 cents lower,
the general demand crowds closely on the
heels of production. Billets and steel bars
owing to prospects regarding combinations
are a shade lower and prices of steel rails
have been withdrawn because reports prom
Use single corporation to handle all the
rail production, 100000 to 100000 tons
yearly; but plates are supported by heavy
railway demands at Chicago and at Phila-
delphia for shipyards; the bar mills are
crowded at all Western works, with steel
preferred to iron; in spite of the season
new structural orders are very satisfactory,
and pipe works at Chicago are far behind
on deliveries, while sheets there are strong.
London has hoisted the speculative price of
tin and of copper, but they closed at 1915
and 1919 cents here, with lead weaker at
365 cents, and tin plates practically UNI
changed.
Wool holders at Boston have discovered
the falsity of reports which they have long
believed about the available stocks in this
country and have begun selling largely at
concessions said to be several cents" per
pound. The weeks sales at the three chief
markets were 1O,797,4O0 pounds, against g.
957 SOP pounds last year and 1866, 60O pounds
in 1885, but only S,215,000 pounds in 1892. The
cheering fact is that the large manufac-
turers are now buying. with confidence
that at some reduction in the cost of ma
terial the business will pay; Demands for
goods have been somewhat better, without
any decline in prices during the past week.
nor any disposition to advance prices. The
cotton mills are helped little by the COM
bination to restrict production about Fall
River Cotton is again at the lowest point
ever known, 5.S1 cents for spot, while Mr..
Neill estimates a crop of II, 800 900 bales, be-
sides large stocks brought over here and
abroad.
Wheat exports continue very large,
amounting to 4.699,576 bushels from Atlantic
ports, flour included, against 3,2S7,536 bush
els last year and 1929. S3S bushels from Pa
cific ports, against 1,592252 bushels last
year but the heavy exports have been
much more than matched by Western re-
ceipts of 9,490092 bushels, against 7,600993
bushels last year, and prices have not
changed. materially. Corn goes abroad
largely, 3011,0S5 bushels during the week,
against 1,S12,943 bushels last year, and prices
are we'll held.
Failures for the week have been 1914 in the
United States, against 276 last year, and rs
in Canada, against 80 last year.
sBradstreets gives gain Of 2O2 per cent.
on bank clearings this week over the same
week last year.