The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-05-28
BUSINESS IS EXPANDING
REVIVING VOLUME OF TRADE IN
SPITE OF FOREIGN WAR.
Heavy Movement of Breadstuffs and
Demand for IrOn-Weekly Reviews
of Dun & Co. and Bradstreet.

NEW YORK, May 27.-R. G. Dun & Co.'S
Weekly Review of Trade will say in to-mor-
rows issue: THE Nation faces war with re-
viving volume of business. The West is
doing it's part and more, but at the East,
also, the volume of business is now ex-
panding. Without abatement in any i'm
portant line the great outgo of wheat and
corn continues to stimulate business at the
West, and railroad earnings show an in
crease over last year of ISL per cent. in
trunk lines, 8.8 per cent. in granger roads,
and in the other Western roads 14.6 per
cent, while east-bound shipments from Chi
cago in three weeks have been 1886, sos tons,
against 150,S12 last year and 1892 tons in
1892 This is largely because of the enor-
nous movement of breadstuffs. Atlantic ex-
ports of wheat, flour included. have been
3,726,442 bushels for the week, against
,6O7 last year, though Pacific exports
were only 92,14 bushels against 314,955 last
year Wheat receipts at the West do not
diminish, but run far beyond those of a
year ago, being. for the week, 1925 253 bush
els, against 1868, 173 last year. In four weeks
exports from both coasts have been 1861, S74
bushels, against 5,7O4,234 last year. The mar
vel is still the enormous foreign buying of
corn, exports having reached $3.50 ,595 BUSH
els for the week, against 15S4,511 last year,
and in four weeks the exports have been
N,2S5,O97 bushels, against 9,360O91 last year.
Yet corn closed 3.37c lower for the week,
although wheat, after rising from $l.5S to
$1.66 for May, fell to $1.46 on Friday. while
July options fell 1Ac. Official and all other
accounts agree in Estimating that the wheat
yield will be remarkably large this year, in
spite of the fact that the California crop
has been much damaged by want of rain.
Starting this month with the greatest
consumption ever known, the iron industry
has made surprising progress in orders,
which reached about 10000 tons in bars
alone, over $1,000 having been placed at Chi
cagO and 15,CC0 at Wheeling, mainly result
ing from the extraordinary demand for agri-
cultural implements. Heavy contracts for
structural work, including some from New
York which have depended on action of the
city, amount during the week to at least
$1,000 TONS with orders reported at many
Western cities. Plate contracts, outside of
the heavy demand for the government, are
very large, and include $500 tons for ship
yards in Glasgow and Belfast. Many struc-
tural and bridge contracts at the West are
pending, with probability of large orders
during the coming week. A better demand
appears for textile goods, with slight advance
in print cloths and a substantial gain in
sales OF staples Wool 20 sales during the week
100 were domestic, against 6,S424O0
year ago and 4,211,O in the same week of
1892 The manufacturers are largely sup
Obliged to buy different grades of Wool than
those they have in hand. Activity in the
market is prevented by the fact that West
ern- holders almost universally believe in
higher prices than can yet be realized in
Eastern markets so that purchasing is very
light. The silk mills are all busy and the
coming linen manufacture is making good
record for itself.
Failures for the week have been 245 in the
United States. against 214 last year, and
twenty-one in Canada, against 220 last year.
Bradstreet's Weekly Review.
NEW YORK, May 27.-Bradstreets re-
port will say tomorrow A total volume
of f,,lIx
cess of that usually noted at this season of
the year is indicated by reports to Brad
street this week. The exceptions are gen
orally where weather conditions have made
for irreguarity and perhaps dullness. In
most sections of the country the situation
generally remains satisfactory The volume
of bank clearngs as was to be expected
shows the contraction usual toward the
close of the month of May, but with few
exceptions the crop situation, the volume
of railway earnings and the reports from
a number of leading industries point to a
maximum volume of business doing in most
parts of the country. Relatively the best
trade reports continue, for some time
past, to come from the central West and
Northwest. where the outlook, both as re-
CARDS crop yield and prices. continues emf
nenty satisfactory tc the agricultural in
terests. Weather conditions do not alto
being complained of throughout most of the
South Atlantic and gulf States The posi-
bility of overselling cotton on the realiza-
ton of a large crop is reflected in the in
creased interest manifested in spot and
August delivery cotton, the latter selling
at a considerable premium over next sea-
sons delivery. Reports from the iron and
steel industries are of a very large business
being done by the mills and furnaces.
Signs accumulate that the long looked-for
Improvement in the wool trade is nearer
realization. rather more business being re-
ported at most Eastern markets both in
domestic and foreign grade of woods. This
is in part a result of good buying against
contracts for government work, and partly
also an outcome of the firmer tone and
slightly increased activity at Western mar
kets, where prices are reported tirmer Lit
tie Improvement is noted in manufactures
of mems and women's wear woolenS but
an encouraging feature in the textile trade
is the better tone of cotton goods, particu-
larly print cloths which are slightly higher
on the week and sc above the lowest point
reached.
Business failures in the United States this
week number 231. an increase of twenty
over last week but compared with 257 this
week year ago. 227 in 1896 and 1S3 in the
corresponding week of 1895 and 1894. Bust
ness failures in the Dominion of Canada
this week number eighteen. only one-half
those of last week and compared with
twenty this week year ago, twenty-five in
1896 and thirty-siX in the corresponding
weeks of 1895 and 1894.