The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1900-05-05
BUSINESS REIMBURSEMENT
1T IS IN ACTIVE PROGRESS ON
SLIGHTLY LOWER PRICES.
Iron and Steel COndftiOns-Impressi
Export Figures-Bradstreet Des-
cants on Crop Prospects.

NEW YORK, May Ar. G. Dun &
Companys weekly review of trade to-
morrow will say: Failure returns for
April are especially valuable because they
show that there do not exist in the most
important branches of business the con-
ditions which threaten disaster. They call
attention to one line in which some cur
tailment had seemed, from previous re-
turns. TO be in progress and which has been
fastened by extensive strikes in the build
ing trades. The state of business has been
represented to fit and used to support
several hundred theories already. The
simple fact is that some reaction from the
abnormal excitement and expansion and
rise of prices last year was necessary to
continued prosperity. It's duration may
therefore be expected to depend upon the
promptness with which production and
prices adjust themselves to actual demands.
Much progress In that adjustment has been
made during the past week, with increased
activity already resulting. Strikes spring
ing from disputes about the terms of work
and wages for the coming year have also
made distinct progress toward settlement.
The reduction in prices of iron and steel
bring out much new business. AT the end
of last week cut nails were reduced As cents
per key, and in plates and bars somewhat
lower prices have been reported. Prices
for sheets have not yet been named, but
in pipes and tubes there is some yielding.
with larger business in fence and other
wire since the reduction. Not a sale of
bessemer pig is reported. the association
still asking $3.50, while Eastern pig Is
offered at Pittsburg below s23, and local
forge is lower at $40, with Eastern at $19.75
Chicago local coke and Southern have de-
clined so cents. Large foreign contracts
for pig are pending. and important sales of
finished products for export have been
made. 1t helps toward better adjustment
that coke is quoted 81 per ton lower than
a month ago, and anthracite coal has also
declined
The close of the wool year has come with
out the scarcity which some expected, but
with the average of Coates Brothers re-
duced in April about ! cent. Sales have
been small, and yet much In excess OF
purchases for consumption. Manufacture
ers have so far refrained as to show that
they We're much better supplied six months
or a year ago, than dealers are willing to
believe. The market for goods, excepting
the most favored staples, has been SO far
unsettled and irregular as to give small
encouragement for buying wool at current
prices. Cotton goods have also shown
similar weakness in transactions for future
delivery and new business is narrow. Until
prospects for the new crop are more settled,
the pressure of English spinners for sup
plies tends strongly to hold up prices here,
although foreign mill stocks are now heavy.
April exports of breadstuffs have been
large, both wheat and corn SURPRISING last
years record. Atlantic exports of wheat,
in five weeks, flour included, have reached
IL, ESQ., 03 bu, against 10,744,79S last year.
Pacific exports 3,513,250 blu, against 1890, 737
last year, and corn exports 15,77S,337, against
IL. 740.942 last year. In spite of conflicting
stories the movement of wheat from the
farms continues larger than a year ago,
but the price closed as it opened, while
corn declined cents.
All exports from New York In four weeks
have been SO per cent. or over $1,000, 000
larger than last year, and with the gain of
| s15,OOO0O0 in cotton from other points, the
months aggregate for merchandise should
rise above a hundred million. Imports
show a small gain, but hardly exceed
seventy millions
Failures for the week have been 200 in
the United States, against 15S last year,
and twenty-seven in Canada, against
twenty-three last year.