The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1900-09-15
ONLY ONE BLACK SPOT
ANTHRACITE COAL STRIKE MARS
THE INDUSTRIAL SITUATION.
Iron, Textiles and Footwear Are Pick
ing Up Rapidly--Phenomena Sit
uation I'm Cotton Market.

NEW YORK, Sept. AR. G.. Dun & Co.'S
weekly review OF trade tomorrow will say:
The tropical storm that devastated the gul.
coast. almost wiping out the city of Ca
weston and doing damage in other parts OF
the country. caused reduction in the vol
ume of business in the South. and the rail-
roads in the gulf region probably have not
shown their maximum losses OF earnings
as yet, but even after such a catastrophe
recuperative power is shown.
An added cause OF hesitation I'm business d
the order for a strike of anthracite coal
miners. Otherwise the working force has
increased this week. for operators are re-
Stunning at steel mills. and the Michigan
Peninsular car plant and the Deering har-
vester works have started up after seven
weeks idleness. with 5000 hands each.
From many quarters of the West and
Southwest "a better distribution of mer-
chandise is reported I'm jobbing and retail
circles. The weather has continued favor
able for the maturing corn crop, with cut
ting progressing and the crop generally be-
yond danger. but damage TO cotton by the
storm is still an unknown quantity.
Cotton closed last week at the highest
price in ten years. and large short inter-
est was awaiting reaction. Instead there
came news of the disaster in Texas and
sensational reports that million bales had
been destroyed. At the New York ex-
change trading was far in excess OF all pre-
vious records. and prices rose by bounds.
subsequently there were less exaggerated
reports from the South. but the market
failed TO respond and middling uplands adj
vanced to IL cents. The price in the
material caused sharp advances in cotton
IN W CfQ IA n hrn CH<af
ings rose from SCI cents TO cents wide
bleached sheetings from 20 cents 10 Fl cents.
standard brown drills from 5:67 cents TO
5N cents and STAPLE ginghams from cents
20 $50 cents. Buyers who have been delay
ing for weeks are anxious 10 secure liberal
supplies. both instant and distant Stocks
generally withdrew from the market.
Wheat rose above so cents again, in the
face of receipts for the crop year thus far
OF $50 bushels larger than last year,
while exports decreased l0.25i,s7S bushels.
including flour. Reports of heavy rain in
some sections and injury 10 the crop, with
better inquiries by foreign houses. explain
the advance
More orders are being received az iron
mills and prices are steady. In structural
and finished material there is much busi-
ness and activity is becoming almost uni
versal In the iron region. Steel rails are
waiting for the agreement as 10 prices
which is expected 10 be reached next week.
A reduction I'm keeping with other steel
products is considered certain. and then
the market will be on settled basis. Some
large makers favor $3.50 as the new basis
and believe that nearly two million tons
would be ordered at that figure. Ship build
ing was never more active and feature
was contract for coal pier TO be used
in the export trade.
Boots and shoes begin To recover after
many weeks of idle wheels throughout New
England. Orders are coming freely and
return to normal conditions is in prospect
Last weeks shipments from Boston were
only 67,142 cases, which is the smallest
amount since the decline began, but In
crease in purchasing promises early gain in
forwardings. Conditions are similar in the
wool market.
Failures for the week were 195 In the
| United States, against 149 last year, and
thirty In Canada, against thirty-two last
year.