The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1901-03-02
PRICES WELL ADVANCED
FINISHED IRON y STEEL IN MUCH
STRONGER POSITION.
Cotton the Only Really Weak Point
in the Situation-Boots and shoes
and the Outlook for Cereals.

NEW YORK, March 1.-R. G.. Dun &
Co.'S Weekly Review of Trade tomorrow
will say: Jobbing trade in groceries.
hardware and iron specialties has further
gained in volume in the East since our
last report an6 retail business has been
good. except FOR a slow movement of some
descriptions of dry goods. notably clothing.
of which dealers fear they must carry over
unusual large stocks. In the West and
Southwest the season has been unsatisfac-
tory.
The greatest industrial combination ever
arranged, that providing for the union Of
the leading steel interests, has not directly
affected business as yet, and may not do so
otherwise than by removing some or the
unnecessary competition from the industry.
Nominal quotations of iron and steel are
misleading. According to published lists il
appears that, while pig iron has steadily
advanced for many weeks, little change
has occurred in finished products. This
discrepancy is due to the figures fixed by
the various pools and associations, but at
which it is impossible TO secure prompt
deliveries. Actual business is done at ex-
tensive advances over these prices, billets
selling at S21 at Pittsburg. or more than a
dollar above the nominal rate, While plates,
bars and structural shapes are only avail
able when special terms are offered. Even
on distant deliveries mills are asking high
er figures, and every line of steel pro-
duction at Pittsburg has already covered
full contracts for the next two months,
while there is a general feeling that ma
terial advances will occur before May j..
Bessemer pig iron sold this week at Sl5.25
and grey forge at $19, prices that have not
been equaled since early in August. Coke
production is enormous, and Connellsville
prices at last showed definite advance.
Further increase appears In sales OF wool
at the three chief Eastern markets, but
$3.50. 500 pounds changing hands for the
week. against ~S.52S.50O I'm the previous week.
A year ago total transactions were less
than half the present weeks operations.
Shipments of boots and shoes from Bos-
ton were STOPS cases, against $3.50 in the
week preceding and 100, 500 "a year ago. Most
visiting buyers have concluded sampling
and returned home. Shops have ample
work for some time to come and prices
are well sustained. Large stocks or hides
depress prices at Chicago, taking the aver
age. to the lowest point since last Octo-
Der.
Curtailment of production by Southern
yarn mills has become general and at FAN
River there is much discussion as 10 the
advisability of reducing output or lowering
wages. Loss in domestic of
raw cottons seems assured and foreign
buying is far from good.
Grain markets are firmly maintained.
Domestic crop conditions are encouraging
and the best explanation Of strength Is
found in Atlantic exports during February
OF wheat. flour included, amounting to
1884 204 bushels, against 7,6ll.552 bushels
last year. and IA, &c, 262 bushels of corn
against II. IA ,645 bushels in 1900.
Commercial failures in February were
1.O24 i'm number and $ll, PSI, 211 in amount.
compared with Lap In January with la
bilities of ST., 220,Sll.