The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1900-12-08
ON CONSERVATIVE LINES
TRADE Is PROGRESSING QUIETLY,
BUT IN HEAVY VOLUME.
Steel and Iron Mills Have Work for
Many Months-The Cereals and
TextiIes-RecOrds of Failures.

NEW YORK, Dec. 7.-R. @. Dun &c Co.'S
weekly Review of Trade tomorrow will
say: Business is progressing along con-
s~ervative lines. II is without excitement
and without great speculative activity. but
with a confident undertone. which is to be
explained largely by the fact that leading
concerns in most of the great industries
have orders booked to employ their ma
chinery at nearly full capacity during
months when curtaiiment is usual. No
net reduction in working force has APP
peared in the last fortnight. and a read
justment of wage schedules in some
branches of the steel trade is affected
without trouble. Prices of commodities
are generally steady and holiday trade is
brisk at all points. The South is particu-
larry cheerful. with cotton firm and the rice
crop coming in at full prices.
There is no cause for alarm in the small
volume of new business in iron and steel
centers. With the first sign of higher
prices there came forward such a food
of contracts that mills and furnaces booked
orders sufficient to keep their full force
employed for months. Hence there has
come a more quiet condition with less bid
ding for products. Fortunately, quotations
were not forced up unreasonably during
the weeks of greatest activity, and now
there is no sign of depression. on the
other hand, bars are more firmly held,
while many idle mills have resumed in this
department.. and sheet makers also insist
on better terms. Other forms of finished
material are steady and at most points
pig is unchanged. although concessions
are made for bessemer at Pittsburg.
Numerous bridges are being erected by
the railroads, and a heavy tonnage OF
structural steel is AIKEN. Other railway
supplies are in active demand with roll
ing stock urgently sought. Business in
iron is particularly brisk at Chicago. With
slight moderation In domestic buying. more
attention is given to exports.
Aside from a further advance OF 2s cents
in mems kip boots and firmness in grain
shoes. the market for footwear has quseted
down. but with no disposition TO recede
from the generally high range OF last week.
Makers have fewer new orders, however.
and heavy winter footwear has been pur-
chased for the seasons requirements. The
customary holiday demand has not ap-
peared. though retailers have full lines OF
farcy shoes and slippers. There is a
shortage in some grades OF hemlock sole,
but leather has ceased TO advance. Hides
are easier Wool remains steady and sales
are less than half last years. Mnufac-
turers purchase carefully. and the goods
market Is usually dull for the season
For the first time in many weeks the
cereals exhibited strength. Wheat was
started upward by the foreign markets and
prompt response here compelled covering
OF contracts. Nothing of Importance was
learned regarding domestic conditions.
aside from the heavy marketing at interior
cities. as indicated by Western receipts of
6.S25. 402 bushels. against 1901. 79S in the pre-
vfous week. and 5.233.0l0 a year ago. On the
other hand, exports at the Atlantic coast
cities were only 2.2l4,409 bushels. against
s-25g. GU in 1872 More strength was shown
By corn. which brought out receipts OF
<.oos, les bushels. against 3.450. 7z2 last year.
but foreign buying was brisk even at quo
fa1ions 7 cents higher than last year, At
lanflc exports for the week aggregatinx
G336. us bushels. against 3.703.2 3 IN 1899. Cot
ton was stubbornly held above 10 cents.
Failures for the week were 81 in the
limited States. against 2z1 last year. and