The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1900-11-03
SUSPENSE NEARLY OVER
TRADE WAITS ON THE ELECTION,
EAGER TO LEAP FORWARD.
A Little More Activity Is Seen I'm Iron
acknowledgements of Cereals.

NEW YORK, Nov. 2.-R. G. Dun & Co.'S
Weekly Review of Trade tomorrow will
say: The period of suspense is nearly over.
Business has been longing for free field
in which to leap forward, but restricted
buying largely to wants for immediate con-
sumption. Some evidence appears of will
ingness TO take speculative chances In the
movement of few standard goods, notably
of iron and steel. The actual resumption
of operations in the anthracite coal fields
has added largely to the working force, and
the closing of few small steel plants is
only in the nature of concentrating opera
lions at more advantageous points, and has
not much reduced the number of men en-
ployed. The weather in some sections has
favored business, but at New York has
been unreasonable. accounting for much of
the loss of 1873 per cent. in bank clearings
here. compared with last year, though
the week shows gain of 2O.3 per cent. over
1898. Encouraging signs multiply in the
iron industry. Strength in bessemer and
gray forge at Pittsburg shows that the
recent increase in activity of finished forms
has at last affected the market for raw
material. Improvement in domestic buying
\
decrease In exports. Structural shapes con-
tinue in urgent request, plates advancing
with active demand from shipbuilders
and with talk of a pool TO sustain the price.
Bar iron would sell readily at former
prices. but holders grow stubborn. Reports
are current that American concerns have
contracted for machine shops in Bremen
and numerous bridges abroad. including
some in Africa. Billets at Philadelphia
cost $40. which does not look like reduction
in steel rails.
Full forces are employed at New England
shoe shops, and heavy orders insure brisk
work for the rest of the year. Prices have
not advanced for the finished articles with
leather and hides. Textile operations are
more vigorous, sales Of wool at the three
chief Eastern markets exceeding all recent
records with total of 100000 pounds
This is largely for prompt consumption.
and consequently makes poor comparison
with the same week last year, when un-
precedented speculation made the total 25,-
3S6, 100 pounds, with many large transac-
tions missed in the excitement of the Bos-
ton market. With the greater activity
there appears a tendency toward firmer
prices, and 100 grades on Nov. 1 averaged
1886 cents, according to Coates Bros, OF
Philadelphia.
Cotton has recovered little Of the re-
cent sharp decline, attributed TO reports
that frost would surely do serious damage.
The market does not show much fear of
disaster, and there is more reason to be-
lieve that the slight advance was induced
by better purchases OF spinners, who were
attracted after fall of $3.50 bale in less
than three weeks. There was also some re-
covery in wheat, started by the statement
that Argentina would not be able to export
freely this year because of the injury TO
the growing crop. Corn did not join the
advance to any extent, and provisions were
generally quiet, except for corner in Oc-
tober pork which compelled traders on the
short size to cover contracts at $50 when
the month ended.
Failures for the week were 19S In the
United States, against 1S3 last year, and
twenty-three in Canada, against twenty
| five last year.