The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-02-12
II. G. DUN 4 CO.'S REVIEW.
Spring Trade Active and Rather Early
Boom in Iron Industry.

NEW YORK, Feb. 11.--R. G. Dun q Co.'S
weekly review of trade will say in it's issue
tomorrow: Business is pushing toward
spring activity father early. Events which
have controlled are good buying of iron by
the largest makers, the rise in cotton, with
strength in goods, the great railway con-
solicitation and the Cuban insurrection. The
latter with its possibilities, operates as u
brake on speculation, and foolishness of To-
cal traders gave foreigners a much-desired
opportunity to buy stocks, on balance,
about $1,000 shares. January earnings, $685.
or All, already reported, are 1876 per cent.
better than last year and 95 per cent. bet
ter than in 1892, showing the best month in
six years at least, and February returns
thus far are promising
The output of pig iron Feb l was
229 S23 tons weekly, the largest in the his
tory of the business, but the reported buy
ing OF 10000 tons Bessemer iron by the Car
negie Company, and 100000 tons by another
of the largest steel concerns nevertheless
means decision by the ablest manufacturers
that the unprecedented output OF pig viii
soon prove too small for the growing de-
mand for finished products. The Illinois
Steel Company has contracted for million
tons Bessemer ore and producers of other
semer pig rose to $1O.15 and gray forge to
50 at Pittsburg with finished products gem
orally stronger, and in larger demand than
ever at this season. Rail contracts already
cover, it is said, more than last year pro-
ductiOn the railways buying carrier imam
usual Bar contracts for cars, wagons. agri-
cultural implements and other manutactur-
ers are heavy at the West; structural con-
East large with $4,000 tons estimated for
New York buildings alone this year. While
plate and sheet contracts for the season are
unprecedented January was one of the big
gest months in the Connellsville coke out
put 623 975 tons, and furnace continued at
the same price. Tin rose to IA cents, In spite
of heavy shipments. and copper TO IL cents
or better for lake, in spite OF enormous
American production.
The rise i'm cotton 5-16 cent for the week.
results, in part, from better prospects for
manufacture here and abroad but only in
part Spectators became persuaded that eff
forts for short crop this year would prove
effective and heavy short interest covered.
The actual movement shows no change OF
consequence, but prices of goods nave
stronger tone. and foreign prospects are bet
ter. With the better tone prevailing tins
manufacture should soon feel the heavy de-
mand which other industries are meeting.
Wool sales at the chief cities were only
) 1903. 200 pounds for the week, and II 664 500
pounds for two weeks, against y. ~, go
pounds last year. Prices are stiil strong, IN
spite OF the general indifference of manu-
factufers who seem to have secured ample
supplies For the better grades or WOODEN
goods an advance averaging 1f.o per cent.
from last year is readily maintained. The
opening of works idle for q year, in spite of
the heavy production already assured IS
striking feature IN this as in the iron and
other Industries and implies heavier de-
mands for products than are now met by
tbs unprecedented output.
Wheat has been strong, with sIiof advanc-
ing cents and May "a cents, though West
ern receipts have been, for two weeks, D.
$50. rs bushels, against sSl' ,sy2 bushels Jas last
year but Atlantic exports have been ozfff-
AS bushels, hour included, against 492b,oyo
bushels in two weeks last year, With Paelfc
exports large. Corn exports are also sur
prisinglv well sustained, il64162 bushels,
AGAINST Z S23 800 bushels last year, and the
price mas advanced 4 tribe. 1t IS yet 100
early for prospects OF g coming crop TO IN
fuence markets materially, and heavy oper-
ations ct Chicago, with reported sales OF z.
million bushels for export on THURSDAY,
have deferred speculative selling.
business shoRE by bank clearinSS Is again
larger Than ever before, J4,7 per cent. larger
Than last year for the week. and for the
month. to date. 4i.S per cent. larger than
last year and Ii per cent. larger rhan In ls92.
Failures for the week have been 295 ia the
limited States. against 261 last year, and 80
In Canada, against Il last year