The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-07-02
BETTER TRADE OUTLOOK
BOTH CROPS AND INDUSTRIES POINT
TO BRIGHTER FUTURE.
Good story in Decreased Failures
This Year-Dun Co.'s and
Bradstreet's Reports.

NEW YORK, July 1-R. G.. Dun & Co.'S
weekly review of trade will say to-mor-
row: The second quarter of the year closes
with most encouraging returns. Failures
have been little larger than in the first
quarter of the year whereas a decrease of
6.2 per cent. might have been expected from
experience of the past ten years. but with
that allowance. difference of only So, 900
can be charged to war and fears of, war,
whereas solvent payments through clearing
houses for the quarter were over $15,600-
100000. In the very best years defaults range
from an eighth to a fifth of l per cent. of
such payments. and in bad times from a
third to half of l per cent. or more, but
this year the proportion is less than a fifth.
The quarterly statement given to-day shows
an aggregate of $34,49SO74, which is smaller
than in the second quarter of any year since
$780, except one and the average of liabil-
tiles to firms in business and to exchanges
through clearing houses is also smaller than
in any year except one of the past seven
years.
The exports of wheat continue extraor-
binary. During the week they have been,
flour included 4O06,S90 blu from Atlantic
ports, against 2,O64,173 last year. and Pa
chic exports 1854 against 10000 last year.
This makes fors the crop year, with some
minor ports yet to hear from, 217 81 800 bu
exported of wheat. -four included, against
220, 812 in 1892 the year of largest previous
exports, but at the same time 211, 452 253 bu
OF corn have gone out, against 76 SCOPES bu
In that year and 178S17,417 last year, which
was much the largest on record. The mar
ket has been a little weaker, as is natural
with abundant evidence of an enormous
yield, Notwithstanding all reports of injury,
but cash wheat has advanced to Sc Corn
has declined a fraction, although the de-
mand for export is still beyond all prece-
dent, and cotton is &c lower at 625c owing
to favorable reports as to the growing crop.
1t is judged by experts that about 80 per
cent of the cotton mandatory machinery
is now employed, and yet the demand for
goods is strengthening. The heavy stocks
carried abroad indicate less than the usual
demand for goods there, as do the ship
ments from Great Britain. The demand for
needs for orders in hand, and. yet there is
good reason to look for better demand for
goods as soon as the new season has opened,
While with government contracts more than
the usual proportion of machinery is en-
ployed, even at this dull season. Sales of
wool have been only BOIL 900 pounds for the
week at the three chief markets, and, for
the month, 1913, 300 pounds, against Al 1877 coo
year ago and 29,595,OOO in 1892. The de-
crease in sales since the elimination of
the speculation in February has been most
remarkable. The iron industry shows some
decline in prices-in Bessemer pig, at Pitts
burg, to $lO25, and in gray forge to 50.
with only 81 here and 81. % at Philadelphia
for No. l anthracite. while shipments dur
ing the week have been made from Biz
mingham to Hamburg, Rotterdam. Great
Britain, Australia and Japan, though in the
aggregate lot large. But contracts for r.,
900 tons steel rails have been placed at Chi
cago and pending contracts there for struc-
tural work are estimated at $4,000 tons,
while the demand for implement and car
material is still beyond all precedent. and,
west of Philadelphia are remarkably strong.
with scarcely any indications of decline in
In ara oet Tn nates sba9e
weaker. at 3.S0c for full-weight American.
the corresponding foreign grades growing
small and stronger.
Failures for the week have been 254 in the
United States, against 241 last year, and Is
in Canada, against 80 last year.