The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1899-02-25
Exports Continue Heavy, Bank Clear
1nGs Large, Hallway and Industrial
Stock Strong aud Failur es Few.
IRON AND STEEL WORKS BUSY
PRICE OF PIG AND FINISHED PROD
UCTS STILL GOING UP.
Danger that the Advance May Tend to
Prevent ExpOrtatiOn-A1 Plants
Crowded with Orders.

NEW YORK, Feb. PAR. G.. Dun & Co.'S
Weekly Review of Trade will say to-mor-
row.: The situation is without precedent.
Business has never been better on the whole
and in some great industries the gain is
astonishing. Exports surpass last years as
much as imports. though the excess over
imports then was heavy. Failures are
smaller than last year and smaller than in
either of six years past. Stocks are strong
err, the average for the active railway Sc
curities being a little higher and for trusts
much more, owing to the extraordinary
advance of $4S.75 in Tobacco. Payments
through exchanges show a greater volume
Of business than ever before at this season
and nearly one-half larger than in the best
previous years.
The outgo of breadstuffs and cotton con-
tinues heavy, but there are some who fear
that such prosperity cannot last. Popular
impressions ave to be reckoned with be-
cause they control events. Yet at every
point of danger, except one, the signs are
in every respect favorable. The upward
rush Of 1875 per cent. in the prices of pig
iron since Jan. 1 and 17.6 per cent. in prices
OF iron and steel products, does indeed raise
a question whether exports of such products
may not be temporarily checked, but if they
could be entirely stopped, as they are not,
the balance due this country would still be
large. The crush Of demand for finished
products, at a time when nearly all the
works are crowded by orders covering pro-
duction until July l, or later, causes many
to refuse to contract beyond that date, ex-
cept at higher prices, and d rise under such
circumstances may prove the one thing
needful to. sober buyers and to bring into
/ llh IFS n r nHnnITnnTG- other < va ~ IN Z 6
heretofore idle. While a fairly large capacity
or production is still in reserve, the de-
imand now pressing for cars, vessels
DflQSeS, buildings and pipes is partly to an
tlc1pate an expected rise in prices. The best
sign is that the great producers appear to
pc anxious to maintain their hold on for
eign markets, although just now unable to
take orders for future delivery.
1t is a sign Of similar import that the
boot and shoe manufacturers just as this
ume seek better markets by a some
what general reduction Of 25 per cent. in
prices, although leather averages slightly
higher. The shipments from the East have
been smaller than in four of the past six
years IN quantity and only 16, 756 cases larger
than IN 1892, and having gained nothing dur
ing al! these years in proportion to popula-
ton the Eastern manufacturers naturally
seek more business. The increase in prices
of grain leather has not hindered much,
while a few large sales of hemlock sole
are not necessarily at quoted prices. A
great many factories have been out of work
and sales at reduction do not cover al
| statues VI SOUQS.
Nobody can judge what the clothiers may
buy as yet, and the wooden manufacturer
have a very uncertain market ahead, but
judge that there will be heavy demand foI
goods before long and many of the smaller
mills are looking for chances in the wool
markets Little weakness is there seen, ex-
cept for fleece and in quarter and three
eighths blood. and combing wool prices are
generally strong with scarcity of supply,
but sales for three weeks have been 1860,
200 pounds, against "a, 753, 500 two years ago
with free wool and 1905, 200 pounds in 1892
The demand for cotton goods increases, al
though there is some hesitation regarding
the price of the material. The urgent de-
mand for goods of all qualities, stiffening
the prices of staples as well as of fancy
goods. gives the highest confidence to deal
erS. Cotton has sold an eighth lower, al
though the material decrease in receipts and
large exports still give hope of an advance.
Wheat has gained only 1$sc in price, al
though Atlantic exports, flour included have
been 1857, 364 bushels, against 1850, AT last
year, and including other exports, 3,279 ,73f
bushels, against 1856, 1893 last year. The ex-
ports have been so heavy that many doubt
their continuance and yet grain comes from
he farms and then goes abroad, as if such
doubt had no basis. The Western receipts
during the past three weeks have been
1876, 473 bushels. against 1895, 426 bushels last
year. Corn has gained but u cent with
smaller demand for export, although its out
ward movement will be quite beyond pre-
cedent, but for last year. In three weeks
exports have been ~6,915,567 bushels, against
1881, IA bushels.