The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1900-03-10
HALTS A TRIFLE
NO MORE THAN is TO BE EXPECTED
AT THIS TIME OF YEAR.
Remarkable Strength of the Cotton
Situation-High Wages I'm the Iron
Industry-Cereal Situation.

NEW YORK, March 9.-R. G.. Dun &
Co.'s Weekly Review of Trade tomorrow
will say: A certain hesitation in business.
with shrinkage in its volume, is not un-
usual nor unnatural at this season. 1t Is
not necessarily disheartening, therefore, If
business is no longer as large in volume as
ever, but falls behind hat Of February or
January or of the corresponding week last
year. Strikes in building trades or of ma
chinists and others at Chicago affect many
industries and the wages OF $4,000 hands.
The remarkable rise in cotton has appar-
emily met the expected reaction which
tends for the time to repress business. A
few great corporations are striving to hold
prices without regard to present demand
hoping that the needs of the consumers
may prevent reaction and renew the rise
of last year. Wide differences Of opinion
also exist regarding the effects Of none
tary action by Congress.
The output Of iron furnaces March 1 was
292,643 tons weekly, against 29S,014 Feb. J.
and unsold stocks increased 35,516 tons in
February, making consumption 40,920 tons
daily, against 41.642 tons in January. Tenn
| porary stoppage of four furnaces near
Pittsburg by a strike. and the reduction Of
| output by many rnace in blast, perhaps
in part desired and in part the effect Of
scarcity of coke, have supported prices of
| pig. and in finished products the only
| change is a slight decline in plates. Con-
| nellsville coke ovens are producing 2l9, 221
tons weekly, with 200 more ovens soon to
be added, but coke is hard to get, even at
| $3.50, for furnaces.
| Cnffnn cold on Mondov ar q 81 cQnfc the
highest point since Jan. 10. 1893. when the
crop suddenly fell from 5000, 900 to 5000, 900
bales. A sharp reaction came on Wednes-
day, and the price dropped three-sixteenths
that day and closed o~ne-quarter below this
| point. While the demand for immediate
use has held goods strong, there has been
for some time small desire to make con-
tracts ahead.
Estimates Of wheat in farmers hands
March 1. 164, 900. 600 bu, according to the
American Agriculturist, do not indicate
a lack of supply this year. for. with 81. 900,
600 blu in visible stocks, there is in sight
nearly as much as a year ago, when for
eign demands were extraordinary, and yet
the crop year ended with over 100000 blu
in visible supply. This year net exports in
seven months, four included, have been
Ill. 221, S35 blu, against lag. GIG. 47 last year,
and in February enough to make about
Us, 100000 bu, against 16S, 0O0.O 0 last year,
with no indications of a future foreign de-
mand approaching that of last year, from
March ! to July /. Returns as to condi-
ton of winter wheat are also satisfactory.
Prices have advanced this week nearly :
cents for spot and / cent for May options.
In boots and shoes no change appears in
quotations., though not an eighth of the
usual orders for boots has been given, and
not a quarter for mems or women's heavy
shoes, while the demand for light shoes
has been the smallest in five years. Ship
ments on former orders have been less
than in 1898, but larger than in the CORE
spending week of any other year.
Failures last week were in amntInf
So, 4S2, 827-manufacturing 81, lis. 651, and trad
ing s., Isl, 211. Failures for the week have
been 25 in the United States, against Is.
last year, and 80 in Canada, against 81 last
year.