The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1899-03-11
Coupled with inadequate Supplies
and Rising Quotations-TotaI Bank
CIcarings, sI,9I0,473,02s.

NEW YORK, March 10-R. G. Dun &
Co.'S weekly review OF trade will say to-
morrow: BY far the best assurance OF good
business in the future is found in the gen.
eral rise of wages. The general advance in
earnings of cotton mill operatives in most
cases 10 per cent; OF iron and steel workers,
generally ID per cent; tin plate and sheet
workers from TO 10 per cent. and of coal
miners. in some large districts about as
much, has set a pace which most estabish-
ments will follow which have reduced wages
in the past years of depression. Those who
fail TO comprehend what such a change may
mean have only TO consider that tenth in
crease in the wages Of all labor would put
into the markets a new buying demand in
amount about three-quarters OF the entire
value of exports to all countries. The VOL
ume Of business shows no signs of decrease,
and for the first full week of March has
been about 5l.7 per cent. greater than in
the same week Of last year and 6O.9 per cent
greater than in 1892.
Most people would not expect the produce
ton of pig iron TO be affected by the wealth.
er. Yet in the Pittsburg district alone the
furnaces running are said 10 have produced
1900 tons per week less than their jan
uary output, so that the decrease I'm weekly
VI ali III lOhS
March l. against 2S7,6Ss Feb I-does not
mean anything more than bad weather. The
shrinkage OF supplies of iron in February.
just when increased supplies were expected
and needed. contributed much TO the ex-
traordinary advance in prices-s275 in an
thracite No. i. $3.50 in bessemer pig at Pitts
burg and $2.75 in grey forge. The unsold
stocks were also reduced in February 4s.4s1
977,s79 tons in the short month. Nearly all
the work done. of course. Is at the COM
paratively low prices made in the great
contracts three to four months ago, but the
few works which are still able TO contract
for early delivery are charging about what
they please, and these quotations appear in
the published statement In many cases 81
TO s. per ton premium is paid for delivery
within sixty days. Plates are i'm especial
demand and higher. but I'm rails bars and
structural forms the demand and prices are
not yet much changed. Tin Is firm at 23.S5
cents. with consumption Of 900 tons month";
ly, and copper is scarce for spot at l775
cents. with lead weaker at 40 cents. The
trust refuses quotations for tin plates. The
demand for cCke exceeds the transporting
capacity for the Connellsville region, but
the output has been 16S,679 tons for the
week, furnace being quoted at $3.50 and
foundry at 81 per ton.
The woolen manufacture has been ham,
pered by doubts about the price OF wool
but now a big combination of worsted pro-
ducers has been formed, with several other
combinations proposed in goods of other
kinds, but these do not encourage buying
and the season continues disappointing In
wool markets sales are barely equal TO the
ordinary consumption OF the mills dependent
on them, but prices are rather weak.
Cotton goods have been advanced about 4
per cent during the past month and are
still rising, although the advance in raw
cotton has stopped. From unreasoning be-
lief In the highest crop ever known The
markets have passed to unreasoning belief
in a smaller yield than usual, and men are
reckoning that the supply is about ex-
hausted. But there is probably enough cot
ton yet available TO prevent any famine.
Exports OF wheat do not yet fall below
last years as many have Cor some months
expected. and the Atlantic exports-fiour IN
cluded-for the week have been 3309.0 .092
bushels, against 2.S9O,77s last year, and Pa
cihc exports 603.1s7 bushels. against 1.2S0 .6ls
last year, with other exports OF s0.369
bushels. Western receipts were f07l,01
bushels. against 2.752.9lS for the same week
last year, and the output from the country
goes far to check apprehension 10 de-
ficiency OF the crop. The price is about
cents lower for spot, and corn is about I
cent lower with Western receipts 4s65.7fo
bushels. against 5.sS7. 203 last year, while ex-
ports have been for the same week 3537. .SS7
bushels against 1851 S5I last year.