The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1899-09-16
More Manufactures Going to Other
Lands than Ever Before Despite
the Advance in Prices.
IRON AND STEEL HIGHER
SEVERAL MILLS COMPELLED TO RE-
FUSE To FILL NEW ORDERS.
General Business of the Country
Swelling to an Unprecedented
VOIume-Bank Clcarings.

NEW YORK, Sept. 15.-R. G.. Dun & Co. S
weekly review of trade tomorrow will say:
Better than all other news, the record of
August shows the relation of the
United States business to that of other
countries. Exports were $20.0S2,S 15 larger
than ever before in August and exceeded
imports by So. 929. $50. partly because exports
of staples were 50, 366, 97S larger than last
year. but also because Exports of other
products, mainly manufacturing, were $780,
3i9,0 BOO larger than last year and larger than
any other month of any year. Fears that
great advance in prices might shut off ex-
ports Of manufactured products have not
been unnatural, and 1t is most gratifying
to find that such exports continue TO ex-
pand. The excess of exports over imports
give fair promise OF as large a balance In
foreign trade to the benefit of this country
during the winter as has ever been seen.
That manufactured exports do not fall off
but are larger than ever is both surprising
and gratifying. The volume Of business now
in progress has never been rivaled.
The great movement of grain in wheat
and flour, a little larger than last year in
August. and in two weeks of September
$3.50, 2IS bushels, flour included, from Allan
tic ports, against 5,423 .076 last year, and
from Pacific ports 100, $50 bushels. against
S64, la last year, is far more effective in
preventing a decline in prices than any off,
cial or unofficial estimate Of yield. Govern
ment reports indicate a wheat crop of only
SIG, coo bushels, but last year the Septem-
Der report indicated So. O00. 600 bushels and
afterward the official return made ii 3d.
Op,OO bushels. One would be surprised TO
see a like revision this year. The price, In
spite OF good exports, has fallen one-quar-
been 1868. ass bushels in two weeks, against
4.663,S 9o last year, and corn exports 6,oS3, 2l2
bushels, against 4,35E331. The feeling is not
unreasonable that foreign needs are just
now we'll indicated by the corn movement.
At this season cotton are always
small and hopes or fears rule the market,
but prices have declined during the week
a sixteenth, with a little less buying on
foreign account.
Extraordinary efforts to increase the iron
output failed in August partly because the
stoppage of a few large furnaces for re-
pairs more than balanced the addition of
thirteen small furnaces to the producing
force and partly because hot weather pre-
vented full production. Purchases Of 60,000
tons of bessemer and 10000 tons of other
iron are reported. with an advance in
bessemer to $25.O at Pittsburg, but quota
tons are wild because of premiums paid for
early delivery. Plates at the East and COM
mon bars at Pfttsburg are 81 per ton higher,
and nails have been advanced s. per ton.
Orders for plates include several for export
and one for a vessel in the Delaware river,
with one for Venezuela at sPittsburg. but
many for all firms are refused because the
works are unable to fill them in time, and
some orders of much Importance have been
Withdrawn at the West on account of the
delay unavoidable and the high prices
charged.
The heavy sales Of wool-i2. O5s, 900 pounds
for the week and p, 2S2, 100 for two weeks,
against 36.629, 400 in 1S9S.are largely due to
heavy manufacturing purchases at Boston.
but there. as elsewhere, the buying is mostly
based on expectation that London sales,
beginning next Tuesday, will show an inn
portant advance. Prices here are stiff and
the demand for wooden goods of all sorts
is strong.
Failures for the week have been 149 in the
United States, against, ia last year, and 30
in Canada, against % last year.