The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1900-04-21
IRON AND STEEL UNREST
1T UNSETTLES THE ENTIRE FABRIC
OF NATIONAL INDUSTRY.
Surprising Increase in the Volume Of
Corn ExpOrts-Statistical Posi-
ton of the Textile Trade.

NEW YORK, April OR. G. Dun & Co.'S
weekly review of trade tomorrow will say:
Formal reduction of S. a ton in prices of
plates and bars and the closing of mills
by the American Steel and Wire Company
have filled the week with surprises. In the
stock market and in the market for steel
and iron products changes have begun,
the end of which cannot be foreseen. Apart
from the disturbance in speculation there
has been produced measure of distrust
regarding prices that are maintained by
the great combinations, which, for the
present tend to deter buying. In the iron
business the formal reductions were almost
wholly anticipated in actual sales. Some
urgent and important contracts have been
made, including that of the New York tun-
mel, requiring 10000 tons. at prices not stat
ed but it is known that many others have
been deferred until the prospect is clearer.
There is a slightly better demand for
hides at Chicago. attributed to their i'm
proving condition, but the distribution of
boots and shoes does not keep all the fac
tories at work. Some are closed, many
more are running part time. and very few
of those in operation have orders for a
single month. There is no room for doubt
that greatly restricted buying has been
caused by the high prices asked, which
the makers declare unavoidable until prices
of leather yield.
The textile industries have large orders
yet to be filled, which keep many of the
mills busy, but there are many others less
fortunate, and their hunt for orders with
out much regard for prices causes irregu-
of fat~l; cH4I
ton. The staple wooden and worsted
goods hold steadily, as the makers need no
more contracts, but in less favored lines,
both for mems wear and in dress goods,
the business Is by no means satisfactory.
Cotton goods by some sold at conces-
sions for future delivery, as all realize that
present prices will not long control cost of
production
Raw cotton is held at oslo, with all the
more ease because there seems to be no.
body i'm this country impatient to buy ex-
cept in the speculative markets. North
ern mills have taken, with the stocks they
held last September, enough for the whole
years needs. The spinners abroad, who
have yet to supply themselves, are paying
oyer 100 &C. S the average export price for
In spite of decrease in other staples there
were the largest merchandise exports ever
known, except in December, 1898, and the
value of the minor domestic exports, chiefly
manufactured, rose to 1888. 500 in March,
sum never approached in any other
month.
Wheat has declined a fraction i'm price,
and corn advanced a fraction, both mar
kets being rendered comparatively mac
tive by certainty that the remaining for
eign requirements will be easily met. At
lantic exports in three weeks. -four in
Guided, have been 5,196,S06 blu, against
5,622,714 bu last year, and Pacific exports
2.347,927 blu, against ,152,069 blu last year.
The increase In exports OF corn continues
surprising in three weeks having been
9,3O4,792 blu, against s,s09, 746 bu last year.
Failures for the week have been 1S4 in
the United States, against 1S4 last year,
and IL in Canada, against % last year.