The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-06-11
MORE TRADE CERTAINTY
HOBSON'S CORK IN SANTIAGO Rot
TIE HELPS BUSINESS.
Heavy Exports OF Grain Continues a
strong Feature-Summary of the
Weekly Trade Reviews.

NEW YORK, June 10-R G. Dun & Co.'S
Weekly Review of Trade will say to-mor-
row; The certainty that the Spanish At
lantic fleet is imprisoned and powerless to
do harm has helped to make the tone of
markets more confident. Every step of
progress during the week which has looked
toward an early termination of the struggle
has been reflected in the market and in
lower rates for money. All industries have
felt the uplifting influence. In finances the
growing anxiety to lend on even long ex-
change at low rates in place of shipments
of gold to this country begins to accumulate
standing credit in favor of the United
States. A stronger situation it would be
difficult to describe. Men have been buying
and selling stocks with some blindness.
though the course of events has all the time
warranted higher market. Other coun-
tries have yet to pay in some way an enor-
nous balance to the United States on mer-
chandises transactions and it will save
spectators much trouble and loss to keep
the fact in mind. Men talk as if wheat had
gone down out of sight, but the collapse
evident that the outside world requires near
ly, II not quite all, the wheat this country
can spare, Last week Atlantic exports.
flour included, were 4,206, 293 bushels against
.634 6O2 last year. and Pacific exports were
253,2l3 bushels against 125, PIP last year, and
It is close to the end of the season. Over
21O. co., 600 bushels have already been export
ed and almost 100000 bushels of corn,
4,134,SC0 bushels during the past week,
against 1,7S1. OBS bushels last year, and the
market is justified in feeling that those who
have gone so far beyond all precedent in de-
for it.
Iron and steel production has declined be-
cause several establishments have stopped
for repairs. Yet the weekly output June l,
let
unsold stocks which decreased 1912 tons
during the month, indicate a CONSUMPTION
weekly of 2S3,S76 tons, against 72s.25S in
April, so that the ablest iron journals are
in error In saying that the apparent con-
sumption does not keep pace with the pro-
duction Of one million tons monthly. East
ern markets are much more embarrassed
than before, while the Western are crowded
beyond all precedent But prices are not
pect for the manufacturer is unsatisfactory
as II would be expected with the prospects.
The wooden manufacturers are buying no
wool and the sales at the three chief mar
kets during the past week were only 1884,
300 pounds, against 4.S1S $50 in 1892. But the
demand for goods proves somewhat better
In many directions than was expected, and
the government requirements have COM
PEELED some manufacturers to buy somewhat
largely grades of wool which they have not
expected to require. The auction sale of
carpets, resulting in prices said to average
so per cent. below the list quotations, does
not encourage buying and in carpet woods
the market is decidedly tame In cotton
goods there is a stronger tone throughout
with print cloths sustained at the recent
advance, but the coming crop is watched
with anxiety. 1t is still somewhat doubtful
whether the demand for goods during the
past two months has been materially
checked by the expectation that the price
of cotton and consequently the price of
goods would decline, and if so a marked
advance in. prices and increase in demand
may be expected
Failures for the week have been 2O3 in
the United States. against 262 last year. and
seventeen in Canada, against thirty last
year.