The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-08-06
STIMULATED
CLEARINGHOUSE RECORD THE
LARGEST EVER KNOWN IN JULY.
Iron Trade on the Boom and Textile
Works Better Off-Dun 81 Co.'s and
Bradstreet's Review of Trade.

NEW YORK, Aug. 5.-R. G. Dun & Co.'S
weekly review of trade will say tomorrow;
Prospects of peace stimulate many kinds of
business In spite of records, the impression
prevails that delay and hesitation have
legitimatey resulted from war and larger
contracts are, in fact, coming forward for
iron products, with better general demand
in most industries. The volume of payments
through all clearing houses was the largest
ever known in July, being per cent. larger
than in 1892 for the month, and for the past
week ILL., per cent. larger. Most industrial
works have resumed after shorter vaca-
ton, with fewer participating than usual.
A few labor troubles only call attention to
the fact that this season has been remark
ably free from such hindrances.
In spite of a promise of 7OO,O0O00O bushels
of wheat this year. the price is 2lsc higher
for the week. The disposition of farmers
to hold back their wheat for prices more
like those obtainable recently accounts for
receipts being So per cent. smaller than last
year, but exports, including flour, We're
3,641,647 bushels, against 2,59O,72 for the
same week last year, and for five weeks of
the crop year 12,474,S39 bushels, against
9,S73,192 last year. The visible supply is ex-
tremely low, but exports at the present
rate through the year WOuiu nave AlltlC NJ
ing power if the crop is about 30OOOO.000
bushels more than home needs for seed and
food Corn exports for the week have been
only 1,734,S47 bushels, against 2,725.OOO last
year. though the price has scarcely de-
clined.
Cotton is unchanged, and crop advices are
so favorable that, with acreage not quite
half per cent smaller than last year, some
expect a crop nearly one million bales
larger. With all commercial and foreign
mill stocks 100000 bales larger than year
ago and American mill stocks also larger
to an unknown extent, the crop really fore
Swallowed cannot be consumed without a
A better demand for staple cotton goods
does not relieve the overproduction in print
cloths and goods are practically unchanged
in prices. Western stiffness in holding wool
and the New England wool paper drifting
this way and largely refused indicate an
other attempt to tire out the manufacturers,
who are actually offering for worsted wool
to cents below asking prices ana buying
scarcely any. Several mills nave closed lor
the time rather than pay prices asked LOT
wool.
The iron manufacture has nearly If not
quite resumed its full production, except IN
the valleys, where Bessemer producers are
closing in turn under agreement to force
prices upward. While there mas oeen large
buying, one Pittsburg steel concern 81 ~ with
all it's furnaces at work. taking 5OOOO IONS
more, the price there does not cnange aS
yet nor does local pig at Chicago, although
with much better buying, one Southern
concern advancing its prices % cents. Low
phosphorus pig has risen 50 cents at Phila.
delphia with better demand. but uncnanged
nrices for other grades. The demand for
rails includes bids for next winter. and next
year, a Chicago sale of 1000 tons for japan,
and Eastern sales Of 5000 tons for American
roads 5000 for Prince Edward Island next
year. and 1900, deliverable in three years;
for Mexico. Plates are in unprecedented
demand both East and West, ana Structural
works are full, with large contracts coming
forward in all sections, Bars are SO much
stronger that many mills refuse less than
81 for iron, though steel bars sell largely at
so cents. -,
Failures for the week have been 196 in the
United States, againt 237 last year, and IL
in Canada, against 20 last year.