The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1899-11-11
THE BULGE in PRICES
1T Is THE FEATURE OF THE PRES
ENT INDUSTRIAL SITUATION.
Raw Material Higher, ProportiOnate-
ly, than Finished PrOducts-Cereals
Form the Only Weak Point.

NEW YORK, Nov 10.-R. G. Dun & Co.'S
weekly review of trade tomorrow will say:
The most noteworthy feature of the time is
the rise in prices. Cotton rose "Wednesday
TO 7.S cents, with much excitement, put
ting the price 215 cents higher than it was a
year ago, and yet il was still higher in Sep
TENDER, 1897 Wool has risen relatively
more, about 10 per cent. in two weeks, and
the average of one hundred quotations, by
Coates Brothers, is higher than it has been
at any other time since May, 1888. Pig iron
has risen further, s25 being quoted for
anthracite No. /, the highest price since
January, 1883. But hides are at the highest
point since January, 1879. having risen all
the year, with very little reaction. Prices
of products have not correspondingly ad-
vanced. Leather and boots and shoes were
higher in November 1895, than they are
now; cotton goods We're higher in January.
1896; wooden goods in July, 1884, and even
the products of iron. though greatly ad-
vanced, are not as high as they were in
January, 1890 Such wide discrepancies in
advance cause much embarrassment, but
are the natural characteristic of a rise
which is mainly due. not to concerted action
in any trade, but to the pressure of con-
Stunning demand the greatest ever known.
very unequalIy. Its results begin to justify
the conservative feeling which finds express
sion in many branches of business.
The iron industry which has led all others
in the advance, now leads the way toward
readjustment of values. While contacts
for pig cover the entire product of the most
important districts for six to nine months
in advance many of the consuming works,
in some lines, approach the end OF their or
derS and have new competition to meet, so
burg and 50 from the highest point in Sep.
TENDER, and plates are So lower there and IS
at Philadelphia. At the same time bars are
Pittsburg, the demand being enormous, and
at Chicago very heavy contracts have been
made for car and implement works A
bridge combination is thought to be likely
to affect future business in structural
shapes, which continues large for the sea-
son. A break in the London market de-
pressed tin and sales were made at Is cents.
Boot and shoe makers are generally getting
about the 10 cents per pair advance they
large contracts, in most lines, as they now
wish TO close, in view of the uncertainty
about materials.
Wool has been very strong again, though
sales at Boston were but 13,40i.GO0 pounds,
against q $50 $50 pounds the week before,
for large transactions elsewhere raised the
weeks aggregate to 20 POI 900 pounds, and
buyers hold firmly for outside prices. Moth
ing like the sensational rise of last week
turers is slower, though still large This
and accounts of good trade indicate that an
extraordinary business is expected for the
next season. The rise in cotton helps man.
ufacturers whose contracts cover production
well ahead. but the buying has been mainly
by traders and based largely on expectation
OF very low estimate of yield by the de-
partment. While last years official esti-
mate not highly accurate, the whole
trade, here and abroad then counted on a
large crop and was right.
Wheat has not been very active nor
strong, although Western receipts have
much declined. being 4. 93l 907 bushels for the
week. against 9.924.045 last year. Exports
are also smaller, the Atlantic port clear
ances being only 2.563637 bushels, flour in
cluded. against 8, 1898. 500 bushels for the week
last year. and Pacific clearances 1.1SS.690
bushels, against 1Ol6.961 bushels last year.
The decrease i'm foreign demand may be
ascribed in part to heavy previous exports,
but perhaps still more to the great move:
ment of corn, S,45S, 104 bushels for the week.
against 2,062 331 bushels last year. Corn adj
vanced about as much as wheat fell, though,
with prospects of heavy yield.
Failures for the week have been 157 in the
United States. against 2l1 last year, and
twenty-three in Canada, against twenty-siX
last