The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-11-12
Bank CIearings So Far This Month
Year and 0.3 More than in 1892.
RAILWAY EARNINGS LARGE
EXPORTS CONTINUE TO INCREASE
AND IMPORTS TO DECREASE.
Northern Europe Making Heavy Pur-
chases of American Steel Rails,
Plates, Billets, Rods and Bars.

NEW YORK, Nov n-R. G. Dun & Co.'s
Weekly Review of Trade will say to-mor-
row: The country has safely passed the
trial of "off year. elections Before the
election everything except political uncer-
tainties favored business enlargement. The
volume Of trade has been the greatest ever
known in October, and the greatest ever
known in any month except December, 1892.
The record on November thus far, shows
clearings 1914 per cent larger than last year,
and 9.3 per cent. larger than in 1892. The
railroad earnings in October have been So
per cent. larger than last year, and 8 per
cent. larger than in 1892 Foreign trade
shows an increase of 20 per cent. in October
in exports, with 30 per cent in exports from
New York last week, while imports showed
gain of only q per cent in October, and
credits against foreign bankers were piling
up at an inconvenient rate. There was and
is absolutely no anxiety about the currency,
and the treasury is only too strong. When
enormous exports of products are consd-
cred it seems quite impossible for the coun-
try to meet with serious monetary trouble,
especially in view of past surplus in favor
Of this country.
Wheat declined nearly a cent, but recov-
cred all the loss, with Atlantic exports,
flour included, of 1888 509 bushels, against
3,274,4S9 bushels last year, and Pacifice ex-
ports 1016,961 bushels, against 1,592,35z
bushels last year. Western receipts 1884,
045 bushels for the week, against 7255,514
bushels last year, continue to render the
holding back of stocks manifestly failure.
Corn has but slightly changed in price, with
exports of 2,O62.SS1 bushels, against 2,474,641
bushels last year, and an increase of more
fhaVa hole -.
mains at the lowest prices on record, with
heavy receipts and without large milling de-
mand.
Iron production Nov. / was 22S, 1886 tons,
weekly, against 215,635 tons Oct. l. and a
decrease is seen of 35,41 tons in stocks un-
sold outside the holdings of the great steel
ton of 1.019,646 tons in October, about 2S3
tons daily greater than the largest ever
shown in any previous month on record;
dreams, 10000 tons rails for north
ern Europe and 100000 tons plates,
besides 4,50O tons bilIets from Pitts
burg alone, with great quantities of rods.
bars. wires and other finished products. The
works are generally filled with orders, in
Guiding many from ocean and lake ship
yards, and many for cars, with seasonable
demand for other products.
Wool sales for the past week were only
735,OOO pounds at the three chief Eastern
markets, and were secured by concession at
all markets, as last week, making IS 234 800
pounds, against 16,652,902 pounds for the same
two weeks last year, and Il, 289 800 pounds
for the same weeks in 1892 Many holders
are refusing to abate their prices, though
large manufacturers bid below current mar
ket prices, because Of their uncertainty in
regard to the demand for wooden goods,
which has somewhat improved, and yet not
greatly. 1t is growing in the minds of hold
ers of wool at the East that the supply of
foreign and domestic wool on hand is much
greater than has heretofore been supposed.
Cotton goods are on the whole in better
demand. although denims are slightly lower
and little can be said of encouraging char
domestic use.
Failures for the week were 211 in the
United States, against POI last year, and
last year.