The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-03-19
Onward Sweep of the Business Pros
perity Wave Affected Neither by
Reports of War Nor Peace.
GOLD FLOWING FROM EUROPE
AND DEMAND FOR THE PRODUCTS OF
OUR INDUSTRIES INCREASING.
Central West and Northwest Buying
Quantities-Bank Clearings.

NEW YORK, March 1S.-R. G. Dun & Co. s
weekly review of trade tomorrow will say:
Neither peace nor war reports have
changed the onward current of business
Orders for more than $25, 100000 gold from
Europe have blocked any drift towards
stringency in rates for money, and treas
ury receipts of about 81, 100000 per day have
kept in check any question about the cur
rency while exports of products have con-
tinued at rate considerably increased
and the demand for products of the great
industries shows steady expansion. Prompt
action by the Senate and House has re-
moved all fear of embarrassment through
conflicting purposes at Washington The
government is making ready without any
waste of time while frankly assuring every
body that it looks for a peaceful settlement
and hopes that it's preparations may prove
unnecessary.
The backbone of the situation is the ex-
cess of merchandise exports, more than
SAL 900, OOO in February, with an increase of
$2,2O0OO0 in miscellaneous products, 2,1OO,-
600 in provisions, S45CO,OOO in cotton and
100000 in breadstuffs compared with last
year, and $15,10000O in all products. In two
weeks of March exports have been 16 per
cent. larger than last year and imports
especially swelled by receipts of India rub
ber sugar and hides. The outgo of cotton
surpasses all expectations, though the
price was stronger last week, and the ex-
port demand apparently paid no attention
to market fluctuations. Receipts from
plantations continue much greater than at
the corresponding date from the largest
crop heretofore produced so that guesses
about the future crop are now the main
reliance of spectators.
Wheat also moves i'm spite of all specu-
lation. Atlantic exports, flour included,
have been 1,S24,569 bushels, against 1,253, $3.50
bushels last year, and from Pacific ports
S71,S2G bushels, against 26S, sos bushels last
year, making for three weeks from both
coasts TO- 125 bushels, against 4538,4 AL
bushels last year. The price has varied
with conflicting reports, but closed Ac high
er for the week.
Wool shows no change in quotations,
though Eastern markets are extremely dull,
and the Indifference of manufacturers has
made transactions only 2,062 800 pounds,
against 10, S91 500 pounds for the correspond
ing week last year and 5,0SS, 200 pounds for
the corresponding week in 1892. The Lon
don market is rather higher and holders
IN the interior are expecting material adj
vance in prices. Little encouragement ap-
pears in the market for cotton goods, with
print cloths a sixteenth lower than a week
ago, and standard grades undersold by
many of less note The demand is large
but not large enough. In wooden goods, on
the contrary, the material advance in prices
has raised the only obstacle to increased
transactions, and somewhat frequent can
cellationS indicate that dealers have been
disappointed in their distribution. The
small yielding in wool may result in
greater decline if this tendency in the man
ufacture continues.
Bessemer pig and gray forge are both
slightly stronger at Pittsburg, the proposed
combination of valley furnaces helping, but
pig is not changed in price elsewhere, nor
are finished products at any point, except
wire nails, which are cents per key weak
er, and steel rails, which are said to be
sold at $3.50 at the East by some establish
mentS. Contracts have been made for TO-,
GOO tons with Eastern works. for domestic
delivery IL, GOO tons for Australia, 5000 TONS
with 1000 tons of bridge work, for South
Africa, and the Illinois Steel Company is
filled with orders for the year. The Car
negie company has sold 5000 tons of deck
plates to ship builders of England, and sew
eral Chicago orders for plates exceeding
1000 tons each are for railroads, car and
agricultural implement manufacturers and
projectiIe works. The wire combination
having failed to effect the broader arrange
ment contemplated, is seeking to complete
control of about so per cent. of the wire
output of the country. While activity is
great in the central and Western region,
there is less demand at the East
Failures for the week have been 208 in
the United States, against PIG last year. and
twenty-seven in Canada, against fifty last
year.