The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1901-11-16
Percentages of Increase Are Large,
Especially I'm Bank CIearings, Rail-
road Earnings and Iron Trade.
IRON AND STEEL CONDITIONS
CONDITION AS RE-
CARDS STOCKS AND PRICES.
Crop Conditions and Grain Movement
-Brndstreet and Dun on Com
merce and manufacturing.

NEW YORK, Nov 15.-R. G. Dun & Co.'S
weekly review of trade tomorrow will say:
"A few months ago injury to the corn
crop aroused fears that the railroads would
be seriously handicapped by the loss of ton
mage, yet the season of grain traffic not
only has failed to produce decreased earn
ings, but there is such a scarcity of rolling
stock and motive power that numerous in
dustries are badly demoralized. In so far
as these interests are concerned the re-
duction in corn freight proves blessing.
Railway earnings in October were lib per
cent greater than last year, and 2l2 per
cent over 1899, while those roads reporting
for the first week in November show an
average gain of 9.S A healthy demand is
reported throughout the country in all
leading lines of merchandise. while sales
of winter goods have attained normal pro-
portions and holiday business promises to
surpass all records. In manufacturing there
was never such well-sustained activity,
with contracts running past the middle of
next year. This is especially true in the
case of steel rails and many other products
of iron; while in building material, felt,
footwear and most textile branches there is
little prospect of idleness. Money circu-
lates freely, making collections satisfactory
in most localities. Bank exchanges in New
York for the week were Sc per cent. larger
than year ago. and 31.1 per cent. over 1899.
while at other leading cities the gains were
1O.2 and 92. respectively.
Unprecedented conditions in the iron
and steel industry are shown by the sta
tistics Of pig iron on Nov. 1, as published
producing at the rate of 800 S24 tons weekly,
which far surpasses all previous records.
With production of 10000 tons weekly
above the previous top point. ii might be
expected that supplies would increase. or
at least remain stationary. On the con-
trary, furnace stocks on Nov. / were 1882
tons, OF much less than single weeks out
put, and a decrease of SS,342 for the month
of October. Carrying the comparison back
a year gives an idea of the marvellous
strides made in this industry. Since Nov.
l. 1900, the weekly capacity of furnaces in
blast has increased from 25,3Q tons to
800 S24 tons. while furnace stocks have de-
clined from 641, 4s6 TO 274.2S1 tons Yet there
has been no imitation OF prices and the
speculative element is entirely lacking
sign that no disastrous collapse is TO be
feared.
while shipments of footwear from Bos-
ton continue far in excess of previous years
and factories are Well employed. the situa-
tiOn is not satisfactory. Prices are not
the phenomenal strength of the raw ma
terial and the stubborn resistance of buy
ers.
Print cloths at Fall River are quiet re-
cent unusual events having produced
tendency to await developments. Both
buyers and sellers made sufficient conces-
sions on brown goods TO make large sales.
Further sales are reported in woolens, bust
ness reaching the best OF the season.
An official report OF the lowest average
yield OF corn per acre was calculated 10
strengthen prices. but the phenomenal quo
tations already prevailing would seem TO
fully discount government figures. Foreign
buyers have been driven out OF these mar
kets. the weeks exports from the Atlantic
coast amounting 10 only 5S5, ,944 bu, against
5. 3.726066 a year ago, and 3.150.7l1 in 1899
Wheat rose the best prices OF the crop
year, partly in sympathy with corn, for
which II Is still freely substituted Interior
receipts or 1897 bu. against 4.+O4. 1O2 last
year, indicate that an abundant crop is
coming forward. and the movement would
be heavier II transportation facilities were