The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1900-02-10
STRENGTH IN STAPLES.
Notable Feature of the Weeks Trade
The Rise of Cotton.

NEW YORK, Feb. 9.-Bradstreet's to-
morrow will say: The strength of staples.
and particularly those of agricultural orr
gin, is the leading feature this week, as last
In general trade weather conditions have
not favored a large distribution, but COM
parsons with year ago are still quite IA
forable. Enlarged speculation is reflected
in increased clearings, and comparisons
with last year are again encouraging. while
gains over years previous to 1899 are very
marked. In strength of demand and size
of advance cotton is still easily first AL
though the crop movement has noticeably
enlarged, so active has been the demand
from foreign spinners that fully CSC adj
vance is shown. The strength of the raw
product naturally affects manufactured
goods, which are very firm and in good de-
mand from jobbers. Recent rains have in
creased the supply of water, and New
England mills are now running to their
fullest capacity. Southern manufacturers
are very busy and will use one-sixth of the
South's total cotton production this season.
Corn is higher, partly in sympathy with
wheat. but also on reports of damage to the
Argentine crop by heat. Provisions have
been quite strong throughout the week,
and active demand is responsible for high
err prices for pork and lard in the face of
larger receipts of hogs at primary markets
The strength of the raw sugar position has
been further increased this week by bullsh
reports from European markets and the
expectation that receipts of cane sugar are
apt to be light in the future. Refined
grades have been strong, partly owing to
the strength of the raws and partly to the
shutting down of a number of refineries
Coffee steadily advances the result of con-
tinued small crops from Brazil and OF good
consumptive demand here.
Hides and leather are firmly maintained
though reports from the boot and shoe
trade of current business are not very good
Fine grades of wool are quiet, but there
is still an urgent demand for medium
grades and quarter bloods sell better, con-
siderable imported woods having changed
hands in Eastern markets. Reports from
the wool trade continue favorable to high
degree and firm or higher prices are re-
garded as a certainty for the future.
Iron prices vary with the market re-
porting, but no widespread weakness is yet
noted Some concessions. notably by a
prominent Southern furnace, are reported
at Birmingham. Some export business Is
reported done at shading by an Eastern
furnace. Strength of quotations. in fact.
grows as the interior is approached, the
most firmness being noted at Chicago. Any
further reaction on Southern pig prices is
expected to develop a good export demand,
the margin of price difference now being
very small.
Wheat, including flour, shipments for the
week aggregated 2,902 357 bushels, against g.
724. 937 last week, $3.50, 500 in the correspond
ing week of 1899, g. .504 in 1895. 2051 ,245 in
1897 and 2,7lS,391 in 1886. Since July the ex-
ports of wheat aggregate 12S. OBJ 800 bushels
against 1885, 500 l59 last year, and 15S, 1857 in
1Sg7-9S. Corn exports for the week aggre-
gated 3, $50 800 bushels, against 3,59S, 962 last
week, 3, S65. CD in this week year ago, A.
SOS. OH in 1885, 4169274 in 1897 and S.143,344 in
1896 Since July 1 corn exports aggregate
132, Cos 744 bushels, against 103,279276 during
the same period a year ago and 1Oo,5o66n in
1878.
Business failures in the United States for
the week number 231, compared with III
last week, 1893 in this week year ago, 27S
in 1885, 301 in 1897 and 3S1 In 1886.