The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1900-10-20
NO SCRAMBLE FOR BUSINESS.
Steel Mills Unusually Well Supplied
with Orders-Bank Clearings.

NEW YORK, Aug 19.-Bradstreet to-
morrow will say: AS the jobbing distrib-
utive trade tends to lessen with the adj
vance of the fall season the repressive in
fuences of ante-election feeling becomes
more clearly perceptble. and the result is
a generally quiet, though at the same time
confident. feeling in general trade, which
the stock market apparently has begun to
discount, with the result of swelling cur
rent bank clearings well above recent to-
tails. AS for some time past, the best
trade advices come from the South, which
remains cheerful in spite of lower cotton.
Pacific coast advices are that export trade
is very large as the result of army needs
and Asiatic requirements. Northwestern
trade is. on the whole. quiet. and the dispo-
sition to charge the election with this is
manifest. Eastern wholesale trade is quiet
but steady. Gross railway returns con-
tinue excellent, considering the reports of
quiet in all other lines. and in net returns
those for August are much more encour-
aging than those of July. The country's
foreign trade is in a flattering condition,
September exports being the largest ever
reported for that month, and. swelled by
high-priced cotton shipments, the nine
months returns are far in advance of all
previous years. Imports. on the other hand,
show few gains, and the outlook is for
record-breaking export trade and a mer-
chandise balance for the calendar year far
in advance of all other years.
Prices of farm products have tended
downward this week. The most notable
drop has been in cotton, half a cent for
the week and cent from the highest point
reached. Cotton goods are very Arm,
despite the drop in raw material, but the
disposition Is to sell carefully on spring
account. Wool is little more active and
firm I'm tone at Eastern markets, but the
demand is still to cover odds received by
manufacturers, who are not inclined TO buy
beyond this.
The repression noted is, perhaps, most
prominent In the iron and steel industries,
where values for the cruder materials re-
main we'll down to the lowest point reached
in a year, and even here IL is to be noted
that larger volume of steel rail orders
has been placed this year than I'm former
periods. Sales, this week. of rails are
estimated at 1900 tons. mostly at the
West. Structural material makers are re-
ported exceptionally well fixed as to or
ders, although a meeting of makers IL is
rumored, may cut prices. Pig iron has
been slow of sale, but Chicago reports that
business Of at least 100000 tons is in sight
that may be placed after election. The
large steel mills are We'll supplied with
orders, though at low prices, and the usual
scramble for fall business is absent this
Year.
Wheat. including flour, shipments for the
week aggregate 3,796,643 bu against 1927 $50
last week, 4,160,61S in the corresponding
week of 1899. and 4,2S27 73 In 1895 From
July to date. wheat exports are 553I1 l65
bu, against 65, 125. 665 last season and 81,
el0S0 in 1888 Corn exports for the week
aggregate 2,sS6.993 bu, against 1885, s7 last
week. 5,05S, 697 in this week a year ago. and
2597, l91 in 1885, From July 10 date corn
exports are sos, 651 bu, against $685. $50 last
season and 44.S57.331 in 1898.
Business failures for the week number
223 I'm the United States. against 2l0 last
week, POI in this week a year ago and 2l3
in 1898