The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1899-04-29
DUN & co.'s REVIEW.
A Surprise that No Reaction to the
Boom Has Set In.

NEW YORK, April 2s.-R. G. Duns Week
ly Review of Trade will say: All elements
considered II is rather surprising that busi-
ness has not been set back a little. The
uncertainty about Samoa and the prolong-
ing of the difficulty in the Philippines might
have counted for something, the rising inn
ports and falling exports for something, the
rise in foreign exchange by some attributed
to foreigners sales of copper stocks, and
the hindrance of manufacturing orders ow-
ing TO the recent advance in prices. But
there has been full faith that foreign diff
culties would soon be cleared away and the
movement in exchange is generally
nected with speculative rather than legiti-
mate operations. since accounts of trade
still indicate a large excess of exports. After
every rise in prices manufacturers have to
consider whether hindered consumption
with increased production will make them
difficult, but confidence with which combi-
nations are formed and extended still shows
the prevailing belief that no danger point
is near. The state of foreign trade justi-
fies confidence rather than apprehension. 1t
is the season for the lowest exports of
staples and their prices this year are ex-
tremely low. but the unprecedented foreign
demand for manufactured products so far
March was so heavy and apparently has
been in April.
The presence of English merchants in Bos-
ton trying to sell English medium wool
which would be delivered there at about go
cents. at the same time that English buy
ers were taking a little fine territory for ex-
port and Germans buying 100000 pound more
Australian from bond, shows the opposite
trend of popular taste in different countries
Clay worsteds here advanced 71zc. and
serges &c, which strengthened the tone Of
the wool market. The wool is relatively
cheap here and dear abroad. but conces-
sions make the lowest price of the year in
all kinds, as heavy stocks carried for years
800. co., 900 pounds. Manufacturers are now
not buying largely though in four weeks
3oylS,Oo pounds were sold. of which %. 315. OS5
were domestic. against Al, ais, 600 in the same
weeks two years ago when wool was rising
The cotton manufacturer has made little
| change and the stocks following the adj
vance in wages appears TO have benefited
manufacturers not a little by helping the
| demand and curtailing the supply of goods
Cotton is sixteenth lower, with generally
improved prospects for the coming crop:
The boot and shoe industry surpasses all
other years In April shipments. last year
| by ii per cent, 1895 by Is per cent. and 1892
| by 45 per cent, and manufacturers are gem
orally provided with orders for months
ahead. but the advance asked does not APP
pear to nave been generally without buSi-
ness.
Bessemer pig is unchanged at Pittsburg
and grey forge strong at $3.50, though 10 :
600 tons of Southern have been sold here at
$14.20. There are some large structural or
ders, a Philadelphia building for 5000 tons.
a Western bridge for 5000, a Duluth eleva-
tor and the st. Lawrence bridge at Quebec
though the general run of orders in this line
is light and in rails no large sales are re-
ported though inquiries for $1,000 tons are
said to be in this market.
Advanced prices are noted in pipe and de-
crease I'm merchants orders. with smaller
! business in sheets and al the West in bars,
pending the completion of the combination.
| But the general decrease in new demand
| raises the question whether prices will be
mainland after the current orders run out.
Failures for the week were 1& in the
| United States against 262 last year, and 70
| in Canada against 16 last year.