The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1900-11-03
BETTER DEMAND FOR STEEL.
Favorable Element i'm the Trade Sit
uatfOn-Cotton and the Cereals

NEW YORK, Nov. 2.-Bradstreets to-
morrow will say: unseasonably warm
weather continues the leading directly un-
favorable feature of distributive trade, be-
cause of the check given to retail distribu-
ton, and therefore to recorder business in
most lines of dry goods, wearing apparel
and shoes. Conservatism, in view of the
near approach of the presidential election,
Is undoubtedly an element exercising con-
siderable influence, particularly in stock
speculation, but a conspicuous exception to
this is found in the reawakening of demand
and the advances in prices shown in the
iron trade in widely separated sections.
This is really one of the most important
DEVELOPMENTS of the week, and is taken as
indicating not only that confidence In cleo
ton results is felt, but that consumers
stocks are down to minimum. Failures
naturally show expansion over the same
period a year ago. but are much more IA
vorable than in preceding years.
Speculation on the various exchanges has
ruled rather SLOW In wheat the moving
feature has been the reiteration of stories
of Argentine crop damage. which was in
strumental in inducing some advance,
much of which was lost later. In cotton,
fear of frost damage has been the moving
factor and here also some advance has
been scored from the low point reached
last week. Leading authorities look for an
active demand for the larger part OF the
years American crop, and predictions that
IL 100000 bales are absolutely needed are
maintained. Farmers are slow TO follow
the price downward and are reported hold
ing for better prices.
Weather conditions are not altogether
favorable to the shoe trade, but hides are
firm and sole leather shows an advance or
zd3c a pound at the West for October.
Wool is showing increased activity, while
prices are firm in sympathy with the BET
ter tone of the London and Melbourne adj
vance Western live stock receipts for
October were very heavy, but prices have
held well, despite this.
A distinct and marked Improvement in
the demand for both crude and finished
iron and steel is noted. From Chicago.
fittsburg, Birmingham and Philadelphia
come combinations OF the better inquiry
for pig iron at a slight advance, except II
the case of the Southern product. This
movement is regarded as significant. In
view of the reported cutting of prices by
English and Scotch makers Actual con-
sumptive needs appear to be at the bottom
of the Demand Despite the claim that
Western railroads will not pay SIS a ton
for rails, Chicago advices are that 100000
| tons have been bought for this account
within the past ten days. Plates are high
er on the week. and bars are also firmer
| with the mills reported crowded with or
ders. Steel blllets are In better call and
| also higher, although the manufacturers
| are expected 10 let that market remain
Wheat. including flour. shipments for
| the week aggregate 1872 42l bushels
| against 4.9S2.97S last week, 3.O4sS56 i'm the
| corresponding week of 1889. and 6.77S,6i3 in
| 1888 From July ] 10 date wheat exports
| are e3, Sol bushels, against 72.5S90l6 last
season. and 73,S45.4 21 in 1898. Corn exports
| for the week aggregate 3,9201l0 bushels
against 1885, COL last week. 1903, f25 i'm this
week year ago, and 3.566, $40 I'm 1898 From
| July 1 TO date corn exports we're 81. ESQ. 45s
| bushels, against 79,S4l,so0 last season, and
| g. 954. AZ In 1898.
Failures for the week in the United
| States number los. as against 16I last week
| Ia I'm this week year ago. and 1S3 IN 1875
This Weeks Bank Clearings.