The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-06-04
GREAT TRADE REVIVAL
ENORMOUS MISUNDERSTANDING
MOVEMENT OF WHEAT AND CORN.
Better Times Both East and West.
with Orders Increasing-Dun &
Co.'s Weekly Trade Review.

NEW YORK, June 3-R. G. Dun & Co. s
Weekly Review of Trade will say to-mor-
row: May having been the first full month
of actual war the fact that failures in that
month were smaller, even though but little.
than in the corresponding month last year
and nearly 10 per cent. smaller than in May.
1896, is somewhat encouraging the more be-
cause year ago the remarkable decrease
In May gave proof OF the heavy improve.
ment in business which made the year so
gratifying in general results. Large failures
were eight in manufacturing for $685., 900
this year, against thirteen for 81 965. 900 last
year, and In trading they were five for $780,
600, against ten for $1,572,077 in 1897 Hesita-
ton in extending usual credits soon after
war began, naturally affected weak more
than strong concerns but it soon gave place
to steady and increasing confidence.
Wheat dropped 4c from the highest point
after the May deal eliminated and has since
been weaker for July because of accounts
promising an enormous yield. Those who
were nearest the truth last year now pre-
dict about 7O0.00O.000 bushels for 1885, and all
accounts make acreage much larger and
conditions much better than a year ago.
But with $1.15 still paid for No 2 red in
elevator and q foreign demand taking 1884,
49S bushels, -four included, from Atlantic
ports for the week, against 2, 165 1877 last year,
and 54S9 from Pacific ports, against "a S29
last year, the decline evidently hastens the
marketing of surplus, and gives the new
crop better chance. 1t is not less surpris-
ing that Western receipts for the week were
4,263,52O bushels against 2,O997 95 last year,
although the crop has been by some sup
posed almost exhausted, and corn receipts
hIS
last year. Exports of corn for the week
have been 1881, 800 bushels, against 1s26, 5Ss
last year, and for the first time in history,
exports of each grain have about reached
2O0,OOo.O0O bushels in the same year.
OF all the great industries the cotton
manufacture only gives some sign of shrink
age, cotton having dropped a sixteenth dur
ing the week after rise in goods averag-
Ing for the month about l per cent, thus
rendering the marketing of accumulated
stocks somewhat more difficult. But print
cloths have advanced and in most staple
goods the demand is improving. Wooden
mills are encouraged by somewhat larger
demand for goods, in part from government
orders, and are averaging about l per cent.
better prices for goods than month ago.
There is not much demand for WOOL which
is still held in the main above the views Of
manufacturers and prices have declined an
average OF half a cent for the month.
The iron and steel manufacture leads all
others in gain over previous years its con-
sumption of pig being apparently more than
week, against 170,7SO tons per week in May
1892, an increase of 1876 per cent. Works be-
yond the AlleghenieS are crowded with BUSH
ness and while some Eastern concerns are
running part time, mostly, bar mills, the
government demand is felt most in this Sec
ton. Above all others in significance is the
wholly unprecedented demand from agricul-
tural implement works, which throw in the
shade all their past orders, while the plate
and rail manufacturers are beating all rec
ords, partly with foreign orders. one for
Canada having been placed at Chicago for
Ky w ions SruGtnrai work is very heavy
and in sheet bars and rods for fencing the
orders are large Prices of pig have been
ing orders for Bessemer and basic at Pitts
burg and of charcoal at Chicago.
Failures for the week have been 222 in the
United States, against 241 last year and
sixteen in Canada, against thirty-two last
year.