The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-02-19
Prices OF staple Articles Advancing,
and Quotations on Other Commod-
tiles steady and Firm.
GENUINE BOOM In THE WEST
WHERE IRON AND STEEL WORKS
ARE RUSHED WITH ORDERS.
Bicycle Trade Starting Up WelI-Fail-
ures Decreasing aud Bank Clear
ings Rapidly increasing.

NEW YORK, Feb. 1S.-Bradstreets, to-
morrow, will say: Favorable features DOM
mate the general business situation as a
whole, and few commercial conditions pre-
sent themselves which can be regarded as
in any degree disturbing. Chief among
those factors which make for continued or
growing strength in commercial lines may
be mentioned the renewed tendency toward
! advances in quotations of all staple arti-
cles and the steadiness of prices in other
lines where increases are not at the mo-
ment reportable. Perhaps second in the list
| of suspicious features is the continuance
| of marked activity in nearly all branches
of the iron and steel trade moro particular
ly in the Central West, where 1t is authori-
| tatively reported over 80 per cent. of the
| pig-iron furnace capacity is in blast The
failure of the Southern furnace men to
| reach a price agreement is, of course, q
depressing feature in that particular sec
| ton, which, however, finds a counterbal-
ancing factor IN the inteption to advance
prices reported from the Bessemer ore pro-
ducers
The volume of distributive trade shows an
| increase, notably in dry goods and grocer
les, at so many widely separated points as
to warrant the conclusion that spring trade
is receiving a perceptibe impetus. At the
West iron and steel mills are reported gem
orally busily employed and unwilling to take
orders for early delivery. At Chicago $4,000
tons of steel rails have been sold IN the
past two weeks. The bicycle trade is re-
ported starting up well at the West but is
still slow at the East where, however, the
cotton goods situation is one of hopeful
strength, owing to the strength Of raw ma
terial and the restriction of production due
to the New England mills strikes. The
strength of cotton, sugar and rice and the
demand for iron all favor the Southern
trade situation, which is also being helped
by the growing foreign trade in cotton
goods. The activity in Alaskan shipments
keeps vessels busy on the Pacific coast, and
freight rates are firm California crop pros
poets are not encouraging as a whole.
Business failures continue to decrease
aggregatng only 269 for the week against
273 last week, 325 in the corresponding week
of 1897. 276 in 1896 327 in 1895 and 235 in 1894
OF the total number of concerns failing, 81
per cent. had capital not exceeding s., 600
ard 50 per cent. had capital below $4,000.
As above minated, the price situation is
one of great strength. Compared with u
week ago. not one article for staple use is
reported lower, although some low grades
OF wool would have to be shaded if free
sales were desired. This is owing to the alb
sence of manufacturers from the market
during the past few weeks. Prices OF near
| ly ali kindS of grain, but notably wheat
corn and flour, and of most metals, and par
ticularly steel billets copper, lead and tin,
have advanced The agreement by the Bes-
sefner ore producers will probably result
III an advance on the coming seasons out
| Put.
Cereal exports tend to increase. Exports
OF wheat nour includeD for the week ag-
gregate 1892 744 bushels as against 3,4l9,OU0
| bushels last week, 2,120 900 bushels last year,
3,l49C0 bushels in 1896 and lS0S, 900 bushels
! in 1895. The bulk of this increase over last
| week is chargeable to large flour exports.
! Indian corn exports for the week are also
! larger, rejecting the turning of attention
toward the lower priced cereals in total
amounting to 5,056,O00 bushels, as compared
bushels in this week a year ago. 925. 600
| bushels in 1896 and 592,OJO bushels in 1896.