The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1899-09-23
Legitimate Business and Manufacture
ing Increasing and Prices Strong
and Advancing. !
SUPPLY NOT UP TO DEMAND
WORKING PEOPLE CONSUMING MORE
THAN EVER BEFORE.
Earning Better Wages and Steadily
NEUTRALITY-SUSPICIOUS. of Pig Iron
and Exports of Manufactures.

NEW YORK, Sept. pr. @. Dun & Co.'S
Weekly Review OF Trade will say to-mor-
row: The reaction in the stock market Is
not a sign of anything outside that market,
but has set many to look for signs OF a re-
action elsewhere. Such signs have been
hard to find. 1t has been for months a
wonder that the demand for products was
sustained at rates exceeding past consump-
ton. But the demand does not appear to
abate and the rise in prices continues. A
partial explanation is that scarcely any
class Of products directly consumed by in
dividuals has advanced as much as the
wages and employment OF labor. With
more hands at work. more hours. and at 10
to Is per cent. higher wages. the gain in
purchasing power has been quite beyond
the rise of 4 per cent in boots and shoes
this year, or s per cent. in leather, 81 per
cent. in wooden goods or 1913 per cent. in
wool, and even beyond the rise OF IL per
cent. In cotton goods, mainly due TO the rise
of I3 pei cent. in cotton. But products used
in manufacturing and transporting have ad-
vanced much more because Of the enormous
increase in volume of business done and In
anticipated business for the future. Higher
prices cause shrinking demand, other things
being equal, but this year other things are
not equal.
Wheat exports fall a little below last
years, but in three weeks. -four included.
nave been s.656.S77 bushels from Atlantic
ports. against 9.293, PSI last year. and 1.o21. 2ss
from Pacific ports. against s7, IS, last year.
But Western receipts have been q. 7ls.S2.
against 1908, 379 last year, and even more
impressive are the receipts of "a. Isis. go BUSH
els corn, against LIZ. 43 last year. and the
exports of 9,20l, AZ bushels. against 5,s43.s 6s
last year.
Further government reports have been 90
far credited abroad that cotton has risen to
6.62 cents, but 1t comes forward more freely
than in years OF maximum crops.
When people pay 50 to. s. per ton more
than the latest quoted price for iron prod
ucts In order to get early deliveries. II is be-
cause delay Is threatened on works or rail-
roads or bridges. vessels or machinery.
promising a net profit many. times the cost
of a small fraction of the material. In such
circumstances, as In much Of the recon-
struction and expansion now going on. pres
ent cost count for little compared with the
earning power of the finished product in q
time like this. Bessemer and anthracite pig
are unchanged; grey forge at Pittsburg and
Chicago and Southern iron are higher: bars
u per ton nlener, anu pldtts % per ton dl1
rails 81 per ton. Most OF the business Is for
next year. with premiums paid for more
speedy delivery.
Negotiations for consolidation Of FAN
River cotton mills have developed a contest
between those favoring local or nonlocal
management. with a new selling arrange
ment announced for other plain goods as
well as for print cloths. Prices of prints
have been cut Lt for indigo blues. Bot
otherwise the demand Is strong. Is
The American Wooden Company has an
nounced that the whole production OF all it's
worsted mills has been sold, which may
give unexpected opportunities for other
mills. Its contracts for a great quantity Of
new machinery indicate a belief that within
its field the demand for goods will much ex-
coed the capacity of its works. Prices have
been firm, with wool somewhat stronger
since the general advance at London sales.
Sales at the three chief markets were Ia
Az. 500 pounds. +.
Failures for the week have been l34 in the
United States, against 13 last year, and
eighteen in Canada, against sixteen last
year. .