The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-01-22
Bank CIearings About IS Per Cent.
Greater Now Than in 1897 and 1914
Greater Than i'm Prosperous 1892.
EXPORTS CONTINUE HEAVY
IRON AND STEEL MANUFACTURERS
UNABLE TO SUPPLY DEMAND.
Railroad Earnings Above ALI Records
All Industries Prospecting Except
the Textile OF New England.

NEW YORK, Jan. H.-R. G. Dun & Co.'S
weekly review of trade will say tomorrow:
With a volume of business remarkable for
the time of year, SO per cent larger than
year ago and 10.4 per cent. larger than IN
1892. in payments through clearing houses,
it Is not discouraging that one or two In
dustries are tagging. The demand for most
goods is more heavy for the season, manu-
featuring works are better employed and
orders booked and in prospect for the fu-
ture are more encouraging than at this sea-
son in any other year of which equally
definite records exist. Exports of prod
ucts continue surprisingly heavy in spite
OF some rise in prices. Treasury receipts
from customs were larger in twenty days
of January than in the entire month of
October or November, and apprehension re-
garding the monetary future Is no longer
felt outside of speculative circles. Failures
are considerably smaller than were ever
known at this season. both manufacturing
and trading less than half last years. Rail-
road earnings in January thus far reported
have been 17.6 per cent. larger than last
year, and 1913 per cent. larger than in 1892.
The rise of wheat above 81 in regular
sales was not accompanied by signs of
speculative excitement. In fact, the con-
tinuance of extraordinary exDorts-2,945, 7Oo
bushels (fiour included) for the week from
Atlantic ports, against 1,573,215 last year,
and for three weeks, 9OO2,493 bushels,
against 5,559,532 bushels last year, besides
4Os6, $40 bushels from Pacific ports for three
weeks-would give excuse for high prices.
even if the corn exports were not enough
to suggest great foreign need, amounting
to 9,27O.1S9 bushels, against 1O,7l4,293 BUSH
els for three weeks. The fact that cargoes
of corn were shipped during the week to
Egypt and Russia, the very country on
which Europe most reliSS for breadstutfs
next to the United States, affected trade
not unreaSOnably.
Just when unprecedented production Of
pig iron was causing weakness, extraordi-
nary demand for finished products appears.
For this season, at least, the general &C.
mand is beyond precedent including $780,
600 tons of steel rails for he week, and
100000 already this year; orders for plates
SO large that Pittsburg works send away
some to other concerns, unable to fill all
they receive; orders for bar such that many
concerns are obliged to refuse more, an ex-
cellent demand Tor sheets and fair for
structural forms. Nor does this demand
spring from efforts to combine makers of
wire and its products, and makers OF TIN
plates. Prices of all finished products are
sustained by the demand, though Eesgemer
pig is cents lower at Pitt5husg, bit pig
at Chicago is strong, with some production
The great strike of operatives in the cot
ton mills of New England seems as con-
VeHleHI TO Illll owners with ASdNJ
stocks unsold as if they had ordered it.
Probably it will last long enough to work
off stocks, and the print cloth market is
already about per cent. stronger, while a
slight advance is noted in some other cot
ton goods.
With very stagnant markets for wool,
sales amounting to only $4,000 pounds at
the three chief cities, which reported over
Is, 800 0C0 in one week of September and Co.
500 900 in four weeks, the inquiry for round
lots is mainly for Is and u blood, suita-
BILE for cheviots, but have resulted in little
dealing. The mills have taken satisfactory
orders for such goods probably not without
knowing where they could get the wool,
couraging, though quotations of the higher
priced heavy weights are still deferred. But
very large business for the coming sea-
son is already assured, according to reliable
accounts entitled to confidence.
Failures for the week have been 34 in
the United States, against 400 last year, and
So in Canada against SO last year.