The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1900-06-09
POLITICS in THE WAY
1T OPERATES TO COUNTERPART BET
TER TRADE INFLUENCES.
Oriental situation Also Has bad Eff
fect-Rise in Wheat and Decline in
Iron-The Weeks Failures.

NEW YORK. June s.-R. G. Dun & Co.'S
Weekly Review of Trade tomorrow viii!
say: The adjournment of Congress after
successful session, the progress toward
peace in South Africa, and the rapid adj
iustment of prices here to a more natural
level. tend TO bring nearer the day of
greater activity. But that progress has not
been rapid. and the yielding of prices af
fects many as a reaction. cutting part of
the profits supposed to have been secured.
The impression grows. also. that no ex-
tensive changes in business are now prob
able until after the presidential election,
and the possibility of trouble in China has
at least as definite an influence on Ameri-
can affairs as any change in South Africa.
The unsettled condition of labor controver-
sizes. moreover operates strongly, for the
time. to limit expansion of domestic bust
ness. Yet the volume of business is so
large that few months of waiting could
not excite any apprehension.
IL is but few days since an eminent iron
master overwhelmed doubts and questions
by the positive declaration that any de-
cline whatever. In the price of iron this
year simply impossible. Yet anthra-
cite No. l has declined A25 ton and this
week the Bessemer Association has reduced
It's price at Pittsburg $3.50 ton. aud the
Southern makers s. ton. The decline in
ratio of prices of pig iron from 1l27 In
January to $50 this week and in the fin
ished products from 9S05 to S0.0l, does not.
IN fact, show the entire change as the
Steel and Wire Company's guarantee OF
prices. in case OF further reduction respect
ing products not then shipped. is, in effect
"A concession. A few large contracts are
reported. but the new business Is small
that many works are stopping or reducing
force
Wool Is weak and in small demand. many
OF the mills having inadequate orders for
goods. Still more important is the fall in
cotton TO S-S1c. against S.N month ago.
which Is also due, in part. TO restricted de-
mand for goods at the advanced prices
asked The statement often made that the
textile mills are running full time does not
appear accurate: the production Is heavy,
but by no means full
Hides have declined further this week.
both packer hides at Chicago and dry hides,
and the decline in this important material
has been over 2D per cent. while in leather
II has not averaged per cent. The boot
and shoe manufacturers maintain they cam
net accept lower prices than those tnev
have asked until leather yields much more,
and the closing OF many works indicates
that the emma IRA smen- is serious
The rise OF IN cents in wheat. attributed
to injuries threatening "A short movement
next fall. affected stocks also. somewhat
Exports do not materially change having
been for the first week of June. from At
lantic ports. including flour. 2.S55 26l bu.
against 1.sf9.353 bu last year; from Pacific
ports 59i.0 obs bu. against 80. 400 bu last year.
and OF corn 2.7sS,sss bu. against 2s04.sos bu
last year.
Failures Tor the week have been 2Os in the
Omitted States. against $50 last week. and
10 In Canada. against 10 last year.
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