The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-10-29
A "wAR SCARE MARKET.
Effect of the Yellow and Blue Books
on Prices of Breadstuffs.

NEW YORK, Oct 2S.-Bradstreet's to-
morrow will say: Irregularity in prices and
trade NOV aments has been rather more
marked this week than for some time past
but, measured by all the usual standards
of business development. the situation is
one of exception al activity and even
strength The active foreign demand at adj
vancing prices for American cereals and
their products appeared to have eliminated
early in the week in virtual war scare
market in which the highest prices reached
since early in August We're recorded. The
eaction shown, however, has been a small
one, testifying to nervousness both at home
and abroad, growing out of the exception
ally small gains in worlds supplies, reports
of damage to wheat in the fields in the
Northwest and in Manitoba, active milling
demand for wheat at home minneapolis
breaking all records of flour production for
the week., and a continuance of the talk of
rather less than anticipated out-turns of
crops abroad noted for some time past. Ev-
idences of reaction in prices are not con-
fined to wheat but extend to lard and cof-
fee. among food products, Bessemer pig
iron, lead and cotton while most other ce-
reals, pork and beef. copper and print
cloths have remained steady and UNI
changed.
In distributive trade reports of bad
weather interfering with regular demand
and collections, but as stimulating retail
trade in heavy winter goods come from the
West and Northwest, whence also come
advices Of bad roads, Gripping farmers
ability to deliver wheat to market. Against
this however. must be cited the fact that
primary receipts of wheat are in excess of
one yea- ago, and for the season are fully
equal to those of last year. A great burst
of activity in nearly all lines has followed
The freeing of the lower Mississippi valley
sections from the numerous quarantineS
and country buying is reported active, be-
ing partially stimulated by colder weather
in that section. From the Pacific coast
river points, come adVices of very active
trade, heavy grain receipts being largely
absorbed by mills working export or
ders and of increasing trade with our new
dependencies. Here at the East the tone OF
business remains rather quiet.
The iron and steel situation continues
without much change. though shading of
prices of BeSSemer pig iron and billets teSti-
fes to the desire of producers 10 maintain
activity in face of confessedly .queter tone
of business. In other industries the report
is generally of plenty of work. but at prices
which tend 10 confirm the views of those
who claim that profit margins have been
permanently reduced. Instances of this are
found in the reports of 5000 more people
employed in New York State industries now
than one year ago, and In the reports of
implement manufacturers that OF a lot of
business where the per cent. Is in excess of
last year s, profits have not been proper
tjonately increased.
Wheat including flour shipments for the
week eek aggregate o,Soossl pusnei Is, against
| in the corresponding week OF 1897. 8. SIS 600
| bushels in 1896. 2,7i3.0l4 bushels in 1885, and
| 372 bushels In 1894. Since july / this
III $50 bushels. against IS 2S3 594 bushels last
year. Corn exports for the week aggregate