The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1900-03-17
BUSINESS NOT AFFECTED
NEW FINANCIAL MEASURE HAS NOT
SHOWN AN INFLUENCE.
Fading Importance OF the Grain
ACKNOWLEDGEMENTS Ina Cotton Cloth
Prfces-Iron and steel.

NEW YORK. March ls.-R c. Dun a
Co.'S weekly review of trade tomorrow
will say: The new monetary act. which
was signed and took effect on Wednesday.
has not affected business perceptibly as
yet. Designed as a barrier against future
harm, ii was by some expected 20 have i'm
mediate influence through provisions re-
garding bank circulation. While s.. l00. 600
will be added TO New York circulation. the
increase thus far indicated will be mainly
interior, affecting the chief monetary CEN
tiers only by lessening reliance upon them
when more currency is wanted. The grain
movement is fading IN Importance. Corn
exports have been in two weeks only $751;
102 bushels. against 7.l26.55S last year.
though prior to March lS2 $751; 23 bushels
were exported. against sss54.sS4 last year.
The wheat movement is falling behind
rather less than 1t has been in recent
weeks, owing partly to large Pacific ship
ments. Atlantic exports in two weeks have
been 3.009. 454 bushels. flour included. against
6.229 .is7 last winter, and Pacific exports p.
566,6T bushels. against L427.S76 bushels last
year. The price advanced 1Isc for the week.
and corn advanced 2ikc.
st. Louis offers 10 excite new confidence
in higher prices for iron have not had the
desired effect. While various markets are
called stronger. not a quotation was adj
vanced, but tank plates at Pittsburg are a
shade lower at &c. Eastern grey forge has
sold there in considerable quantity at $3.50
against 81 for local FORCES; Southern No. L
foundry is selling here at s2275. against
far NJ MID
Is still held at S2i at valley mills, though
small lots are obtainable at Pittsburg at
$A50 Many large contracts are mentioned
as in prospect, but not one Is closed except
a structural contract for the government
printing office.
1t is not strange that higher prices have
been asked for most cotton goods. with
the market for raw cotton higher than it
has been since Jan. 10. 1888, and the break
In its price did not go far enough TO change
the situation. With print cloths at 3izc.
against 406c early I'm 1893. standard and
Southern sheetings l4c TO &c lower. and
ginghams &c lower than in 1888. the mills
would be asking more If they had not taken
large supplies Of cotton before the rise in
February.
Sales of wool have been only 7.s2s. 500
pounds In two weeks. Manufacturers have
such supplies that they buy only to piece
out for special wants. and the best dealers
report that yielding OF j cent would De
required in order TO effect sales. quotations
are really nominal for lack of transactions.
The mills are still producing great quanti-
tie of goods without buying wool. Prices
of leading goods have not declined. but
others. both plain and fancy. are somewhat
weaker.
The yielding in satin leather has led to
considerable sales of mems shoes at 21zc
decline but the concessions recently made
in boots by makers who held old stocks or
leather are now refused, and IL is claimed
that transactions in hemlock and oak sole
have been larger than at any time since
November.
Failures for the week have been l9S In the
United States, against 1S9 last year, ana
g in Canada, against 30 last year.