The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-01-15
Bank CIearinGs at Indianapolis This
Week Nearly Six Million Dollars,
Gain of 41.9 Per Cent.
RAILWAY EARNINGS HEAVY
AND INDUSTRIES OF THE WEST AND
SOUTH UNUSUALLY ACTIVE.
No Falling on in the Foreign Demand
for American CereaIs-WeekIy
Reviews of Trade.

NEW YORK, Jan. AR. G. Dun & Co.'s
weekly review of trade will say in its issue
of tomorrow: The year has opened with
very satisfactory prospect. 1t is all the bet
ter that there is no wild excitement in the
speculative markets, and while stocks adj
vance a little, grain yields a little. Earn
ings of all railroads in the United States
reporting for December ($43, 364279) exceed
last years by 10.5 per cent, and the earn
ings of 1892 for the same roads by 1.3 per
cent. Since 1892 was, on the whole. the most
prosperous year thus far comparisons indi-
cate, Notwithstanding the lowest prices ever
known, that the volume of business is lar
ger, and, in spite of some cutting of rates,
the earnings of railroads are larger than in
the best year of past history.
The wheat market has been curiously Ian
guld, yielding Il of cent, although Atlantic
export amount to 6056,7SS bu for the two
weeks of January, against 3,9S6,317 last year,
and Pacific exports for the week have been
1885 bu Western receipts continue so
heavy that, with the greatest accumulation
of wheat al Chicago ever known there is
little encouragement for speculation. Re
ceipts were 5,727,2 $50 blu for two weeks
against S09S,66S blu last year. Corn exports
continue large, though not equal to last
years, amounting to 3136,6SS bu, against
4,l43,652 blu for the week last year, and the
price declined about "a of a cent.
Spot cotton is a sixteenth lower for mid
ding uplands, mainly because of the stop
page of some mills by difficulty about
wages. But nothing is definitely known
about the quantity of cotton yet coming
forward, and one report of creditable char
acter puts the years yield at 1880 $50 bales
though results thus far do not quite Justify
SO large an estimate.
The iron furnaces in blast Jan. / report
an output of 22660S tons weekly, against
~, All tons in unsold stocks held by furnaces.
Whlle this shows a consumption OF 5212 per
cent larger than year ago, there would
be dlscouraging indications of consumption
but for the fact that several furnaces were
stopped for the holidays and these, with
several others, have started since Jan. l.
while tn. demand for finished products does
not diminish. The Pennsylvania Railroad
mas ordered 100000 tons steel rails, and
new railroad in Maine 1900 tons, and other
orders for cars, railroad supplies, plates
bars and structural material are unusually
large for the season.
The wooden manufacturers have been buy
ing wool largely and for reasons not pub-
llcly explained. 1t is evident that large or
derS have been taken by the leading mills
at prices which they find satisfactory and
the rush of small mills to buy wool has
made most of the market during the week.
although sales have declined about 10 per
cent compared with the previous week. But
there is decidedly better demand for mems
wear goods and the manufacturers look for
ward to a good season. The cotton manu-
facturers, overloaded by excessive produce
ton, find no increase in demand and no gain
in prices.
Failures for the past week have been 349
in the United States, against 455 last year
and 40 in Canada, against Il last year.