The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1901-01-05
IN LINE FOR PROGRESS
TRADE MOVING QUIETLY ALONG ON
AN ADVANCED PLANE.
Price and Wage Conditions Are Good
and Demand for Iron and Steel
Continues Unabated.

NEW YORK, Jan. Ar. G. Dun & Co.'S
weekly review Of trade tomorrow will say:
In spite of the interruption of the holi-
day and of the unusually heavy annual
settlements in all lines of business the
new year opens with indications of further
progress There is no lack of contracts
offered at steady prices in the country's
leading industry, and in some departments
ment though speculation has depressed
the price of the raw material. Otherwise
decline in wheat is the only noteworthy
movement in staples. 1t is explained by
reduction in the flour output at Minneap-
oils, some mills shutting down, while the
foreign demand at Atlantic seaboard cities
is not brisk. The ordinary measures of
business continue to make gratifying ex
hibits. No alteration has yet occurred in
quotations of iron and steel products, and
this industry is on such a firm foundation
that most large concerns have maintained
wages at the old scale instead of making
the reductions anticipated. Iron ore prices
are also unchanged, and no action is
pected until March, although lower rate
was looked for early in January. Coke is
firmly held at Connelsviile and there are
fewer idle ovens, while the much discussed
tall in prices appears confined to inferior
qualities at outside furnaces. Pig iron
sells freely for delivery up to April, and
there is indication OF weakness. All
finished products are eagerly sought, many
large contracts having been placed for
structural material. and others are under
consideration. An American company is
the lowest bidder for the large bridge at
Sydney harbor, Australia. The purchase
OF seven hundred acres near Pittsburg by
leading steel company indicates great en-
,argement of its plants. Aside from one
reduction of wages at blast furnaces in
the MahOning and Shenango valleys the
weeks news is most encouraging in this,
the greatest of American industries.
The market for textiles has been fea-
tureless, as the holidays and stock taking
reduced business to limited dimensions.
Wool has again declined, making the aver
age of one hundred quotations 1928 cents,
according to Coates Brothers circular
Sales at the three chief Eastern markets
amounted to only 312l 600 pounds for the
week, and there is much uneasiness over
the statements of large stocks at the end
OF the year, while recent failures have not
tended TO improve the tone. Cotton goods
have not the same difficulties to contend
with, but an abnormally high price for
raw material acts as check on this in
dustry. Local jobbing and retail trade is
brisk in boots and shoes, and many manu-
facturers are behind with orders, yet un-
even distribution of business has left some
shops ready to make concessions. Ship
443 cases, against 1850 a year ago. Sole
leather is purchased freely. but less activ-
fly in upper tends to weaken prices. Ex-
ports of sole from this city were heavier
in December than in any previous month
last year, but the total for 1900 fell BOG $50
sides below 1899. For the first time in many
weeks there was some recovery in hides
at Chicago.