The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1899-03-25
Increase at New York Over 100 Ter
Cent. and at indianapolis the Total
Was S5,s3s,6Io n Gain of 23.s.
WHEAT MARKET STRONGER
WITH EXPORTS NEARLY UP To THE
HIGH FIGURE OF A YEAR AGO.
Iron and steel Industry SdIl Over
satisfactory and Failures Few.

NEW YORK. March A-R. G. Dun 6
Co.'S weekly review of trade will say to-
morrow: Business is not frightened either
by the great capitalization of new compa-
nes or by the wild fluctuations in Wall
street. No matter how much the stock OPP
erations in New York may count, business
elsewhere is large enough TO warrant a won
derful expansion of industries. and that Is
the thing most important TO observe. In no
considerable branch has production dimin-
ished. but is practically all ii has been. in
creasing during the past week. In iron and
steel a little lower price for Bessemer pig
appears at Pittsburg but with gray forge
% cents higher there and Southern iron at
Chicago 50 cents to 81 higher. There is no
market for billets, as no works East or West
can furnish them at present. but quotations
range i'm price from s25, at Pittsburg. TO s27
at Philadelphia. In finished products there
is the same trouble. Rails can be bought
at s23 at Pittsburg and s24 at Chicago. IL at
all, but small lots have been sold at S25
at New York. Chicago is taking many con-
tracts for building in Boston. New York
and Washington, amounting 10 1000 tons,
but makers elsewhere are overcrowded with
work. No market can deliver plates within
any reasonable time and Pittsburg works
sold to July on sheets. though instead
of $40 there, $2.65 at Chicago and s. at
Philadelphia is paid. Plate mills are all fthl
and there is heavy demand at Chicago for
bars, with one car makers contract for
5000 tons. Prices steadily growing
stronger. The minor metals are all weaker,
with the reaction OF London speculation.
though copper has declined to II cents here
ard is yet so much above London that ex-
ports have been stopped for the week. The
February output both here and In other
countries was greater than last years
monthly average, although February is a
short month.
Wool, too, is at the doubling point. with
large sales ordered from the interior by
tired holders and some concessions made
TO secure transactions at Philadelphia and
Boston, though quotations show only mod
crate decline and sales at the three chief
markets are almost as large as In 1892 Man
ufacturers make many inquiries. but the
prospect OF combinations is potent 10 hinder
transactions. The goods are in rather bet
ter demand than year ago. but no large
class OF mills can claim 10 be fully en-
ployed. The demand for cotton goods is stiiI
strong, but this week has not materially
advanced prices.
Cotton Is decidedly weaker. though many
believe that short supplies will in time in
sure higher prices, but mill and commercial
stocks are about 10000 bales larger than
last year abroad and mill stocks here must
be heavier because the mills are buying
very little, although crowded with work.
while the commercial stocks here are quite
large.
The wheat market Is just now somewhat
stronger, for although Western receipts for
the week are 3S5s,O0o bushels, against 2557.-
CSC last year, and for three weeks 100000
bushels larger, the exports, -four included.
have been for the week from Atlantic ports
2 90, ,i67 bushels, against 1,S24.5ss last year.
and from Pacific ports s2i.lS3 bushels.
against 1,371, ,s26 last year. other exports be-
ing $50, go bushels. 1t Is not possible 20
ignore the importance OF so great a demand
extending beyond the middlS OF March and
sober traders realize that IL means
heavier outgo than has yet been expected
Western crop estimates are large and such
reports as appear of the condition Of wheat
for the coming year are on the whole favor
able, but prices are 32s cents higher than
last week, while corn is 2l4c higher. The
market for cotton has been decidedly weak
owing TO somewhat better receipts at the
South, and also TO conviction that stocks
on hand are large enough TO meet all de-
mands.