The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1900-06-16
TRADE MOVEMENT QUIET
LEVEL OF PRICES Is BEING READ
JUsTED WITHOUT HASTE.
only Real Drawback Is i'm the Boot
and shoe situation-CereaIso on
n Generally Higher Plane.
NEW YORK. June l5-R. G. Dun & Co.'S

NEW YORK, June 15.-R. G.. Dun & Co.'s
weekly review of trade tomorrow will say:
A season of declining prices is never wholly
agreeable to business men whose stocks on
hand are losing part of their value. Yet
there are times when return to the highest
prosperity in business is not possible ex-
cept through REIMBURSEMENT of prices. The
highest prosperity the country has ever
reached. prior TO the panic. was in 1892.
with prices averaging not quite 20 per cent
of their average in 1860. After great de-
preston for several years the highest point
reached with last years recovery was 80
per cent. March IS. but the gradual yield
ing has already returned the general aver
age of prices to shade less than IS per
cent, practically where it was with the
highest prosperity Of 1892
The output of iron furnaces June 1 was
296,376 tons weekly, an increase of 2,526 tons
making the yield only 1.eSS tons less than at
the highest point ever reached, Feb. l. But
the increase of unsold stocks to 339 4S0 tons,
about $4,000 tons in May, discloses larger
decline than was expected in the new bust
ness on which nearly all the works and
furnaces have now to rely, and reports that
furnaces of considerable capacity have al
ready been closed this month seem likely
10 be correct Within a week or two the
labor organizations and the employers will
be discussing new demands for higher
wages and fewer hours and the closing of
many works for lack of orders will have
much influence about that time. Prices are
gradually changing. anthracite No 1 TO $50
and Pittsburg grey forge 10 $3.50. and sales
of bars are reported there at $50. After
the closing of furnaces and works has more
nearly adjusted present supply to the de-
mand the fact that many large operations
are held back until prices have been read
tusted will have its proper influence.
The boot and shoe branch has been him
dered more than any other manufacture
this year. perhaps. by difference as TO
prices. Hides at Chicago and 10 some ex-
tent in Eastern markets have yielded for
months past giving 10 dealers in boots and
shoes belief that the high prices demand
ed early this year would not be held. The
leather companies, however, have at
times made large concessions. but in gen
eral have resisted decline with the rea-
soning that the real difficulty is In the
scantiness of buying demand, and IL is
have on hand too large stocks, taken when
the great advance was I'm progress. 49,
Reconstruction moves Slowly In cotton
goods, though few quotations are slightly
ket for raw cotton having some influence
and the halting of exports to China on ac-
count of the interior strife there. As Euro
pean manufacture is likely TO be affected in
the same way, the present conditions help
those who look for lower prices in the
goods market. No further changes appear
this week in the wool markets, although
their stagnation, with irregular prices for
goods beyond the most favored staples
still indicates downward tendency. Silk
and hemp have also gone lower and the re-
cent fall in rubber helps new business.
Wheat has been advanced nearly cents
with accounts of excessive injury to grow
ing grain. and the exports from Atlantic
rorts flour included) have been, in two
weeks OF June. 5.9S71S7 bu. against 3.5es. sol
bu last year Pacific exports were Isis .3SS
bu against l055512 bu last year. and corn
exports s.0O0. ASP bu. against 5.sl2.959 bu last
year
Failures for the first week of June were
I'm amount s211s,S10. of which Sl.092, $40 were
I'm manufacturing and sSS3.z 36 I'm trading
concerns Failures for the week have been