The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1900-01-27
CAUSE OF THE QUIETUDE
ORDERS TOO FAR AHEAD TO ALLOW
MUCH NEW BUSINESS.
The Textile Situation and Exports of
COtton-Decline i'm Wheat Sales
AbrOad-IrOn and steel.

NEW YORK, Jan. 26.-R. G. Dun & Co.'S
Weekly Review OF Trade will say to-
morrow: No news is not always good
news. New business for manufacturers.
this year, has been light in some branches
and much below the production last month.
1t is perhaps often forgotten that indus
tries start this year with larger contracts
ahead than ever before, and when half
the work Of the whole year has been or
dered in advance there cannot continue
quite the same activity in new buying. The
wooden manufacture has just opened new
season with the largest transactions ever
known In a single week, 1t is said, but liz
most other lines contracts previously
booked would make similar activity impos-
sible. Yet there is seen enough of hesita-
ton caused by advanced prices to make in
activity trying. Distribution to consumers
throughout the country is rapiu and large.
1t could not be expected that business
would adjust itself without any embarrass-
ment TO such a rise of prices as has oc-
CURED. Early in December wool rose too
high for prices then obtainable for wooden
goods, and weeks of dullness followed.
Boot and shoe manufacturers are receiving
small orders, as jobbers pay the prices
asked only for such limited supplies as are
needed for sorting, but their urgency to re-
ceive goods heretofore ordered Is marked,
and shipments from Boston have been
3SO,96S cases in four weeks, about per
cent. more than in 1898 and 16 per cent.
more than in 1895, with greater increase
over every other year. Leather is inactive
and slightly weaker in Snife Of "
ports, and hides are yielding at Chicago
with accumulation of stocks.
Iron and steel prices have been yielding
for several weeks, and are shade lower
for products than at any other time since
the middle of September, though bessemer
pig and billets are still so scarce and
firmly held that only two sales, amounting
to 200 tons, are anywhere reported. Agree
vent sales at Philadelphia for 2071ac, OF
iron considered by buyers best refined, ac-
cording to the Iron Age, though sellers
call 1t common, and plates and sheets are
both irregular there. with narrow plates
sold at Pittsburg below 2.25c. Structural
shapes are not quoted lower, but the New
York Central has placed a contract fol-
$4,000 tons of bridge material and two or.
ders for 5000 tons Of rails are taken al
Chicago Last year 1890 03 tons of pig
were produced, according to the official
record. the consumption being 13,774, 72i
tons.
demand for goods and extensive famine fr
India is expected to reduce the British
sales in that country while the addition OF
S,963,3S4 spindles at the South in 1899, re-
ported by the Textile World. would imply
a heavier increase than has been supposed
in consumption not by Northern mills
Scarcity of water has curtailed the output
for weeks past and yet prices are
hardly held, with distant contracts
shade lower. Cotton has riser
cents, although exports during the
| month have been 274,0O0 bales smaller thar
| last year; receipts from plantations having
diminished about much
Wheat has advanced to 1875 cents win nc
| clear reason for such sharp advance
Western receipts are small. in four weeks
109S4,92S bu, against IL, 290, 297 last year. but
| the Atlantic exports have been only 1871,
| 474, flour included, against 17,037,3S3 last
year. Pacific exports show a little gain
amounting to 1911. 236 bu for the same -four
| weeks, against 2,175,24S last year, but thi:
| is of no aid to Atlantic markets. Export:
| of corn still show that American food Ii
wanted abroad. having been, in four weeks
| Ii, 4S3, 1872 blu, against 12.370.564 last year
Nevertheless, the price of cash corn has de-
| clined about three quarters of a cent, al
| though option prices are about the same
| as at the close of last week.
Failures for the week have been 231 IL
| the United States against 224 last year, an(
| 80 in Canada against 80 last YER