The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1900-06-30
MANY INFLUENCES FELT
BUSINESS CHANGES APPARENT DUE
To WORLDWIDE CAUSES
Depression in Iron and steel Prices
Makes No New Business-Tbe
Cereal Observation-Disclosures.

NEW YORK. Tune 2s.-R. G. Dun & Co.'S
weekly Review OF Trade tomorrow
will say: The country begins to feel some
of the effects of its place among the ma
tons. Influences affecting its business dur
ing the week ranged al the way from a
boycott at st. Louis TO a war In South
Africa and from sun spots to the relief of
Picking. Droughts and sun spots have
played their part before, but none can quite
forsec all the results Of defending Ameri-
can rights in China. Political influences
also tend to color current opinion about
most things in presidential years. All
these and other influences work together
to create a state of uncertainty until the
controversy Is over.
The long effort to hold nominal prices
for iron at Pittsburg has ceased and the
associations now recognize an open market
in which bessemer is offered at sls and
billets at SIG. with gray forge at 81. Scarce
ly a single transaction is reported. buyers
abstaining even more than when prices
were purely nominal, and while there are
many considerable contracts waiting for a
safe basis in cost of material. the problem
is a rather difficult one. Over thirty fur
naces are said to nave gone out Of blast.
and while some have been stopped for re-
pairs many more will be idle for a timo
until wage scales for the coming year have
teen settled with labor organizations. With
steel plates quoted at I.SO at Pittsburg and
No. "a sheets at 20 cents. no general gain
in business results from the sudden decline
in structural shapes.
Neither official nor unofficial accounts
have removed doubts about the wheat
CT0n and III A EAx~A nc l@.u Ne 49, 81
mate-460,0 1000 bu-the extent to which
it, may now be displaced in European con-
sumption by corn will be seriously tested.
exports of wheat and corn were 49.0OO.O
been about 100. 900. 0o0 bu wheat and 90. 100000
corn In the crop year 1900. but never as
large before. for in 1892. when 225. 100000 bu
wheat went abroad there were only 1000
900 bu corn. In four weeks of June. At
lantic exports OF wheat. flour included,
have been 10, 9S0.076 bu, against 1884, SIS last
year, and Pacific exports 2.753.s7s bu.
against 2,f45. 79 last year, while corn ex-
ports in the four weeks nave been IL. 9s6. 244
bu, against 11.45, 595 last year. After ris-
ing 4 cents wheat closed unchanged for the
week and corn only nc higher.
Another general yielding In prices OF
wool, NC to lie on many grades, would
apparently reduce the average of one hun
dred quotations by Coates Brothers about
half a cent, making 4 cents decline from
Feb. l. The demand for mems heavy
goods falls much below expectations. With
partially different causes the cotton goods
market reaches a similar position. The
Fall River committee has made a sudden
reduction to 2S7 cents I'm the price of regu-
lar print cloths. with not a single sale
recorded. Depression in the market for
goods did not prevent raw cotton from
advancing to 10 cents.
The boot and shoe industry makes slow
progress. Most local works have closed or
are about to close. although Western pro-
ducers have a little better business than
Eastern. 1t is thought 1obbers will SOON
begin orders for fall. The shipments fail
far behind last years, amounting I'm four
weeks to 313, 494 cases, against 400, $40 last
year and 397,036 In 1896. while In most other
years the quantity has been about $4,000
cases. Leather holders complain of too lit
tie business to make a market. and with
some concessions i'm closing out. declines
of 1c in rough hemlock. NT1c in glove
grain and 1c In No. ! buff are reported.
Hides at Chicago are also a little weaker.
Failures for the week have been 207 I'm
the United States. against 1s1 last year,
and p I'm Canada. against p last year.