The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1901-12-14
BUSINESS AT HIGH TIDE.
Speculative yagaries No Deterrent to
Legitimate Trade and Prices.

NEW YORK, Dec. 13.-R. G. Dun & Co.'S
weekly review OF trade tomorrow will say:
II is most fortunate that the vagaries of
speculation are not always deeterious to
legitimate business. Railway stocks all
fell sharply. yet full returns for Novem-
Der show that earnings were lis per cent
greater than in the same month last year
and Isl per cent. over those of 1899. In
dustrial and traction shares were even
more violently disturbed. yet the manu-
featuring plants of the Nation were never
more fully occupied. Numerous labor con-
troversies have been settled and the rate
of wages is at the highest point ever at
tanned. Retail distribution is OF massive
proportions. with dealings in holiday goods
the conspicuous feature. This class OF
business so far surpasses previous years
that IL gives an unmistakabe indication
of the Nations prosperity, even If more
definite measures Were not available.
Conditions in the leading industry
still most strikngly promising Despite
mills well into next year. the week has
brought a large amount OF new business,
particularly in railway equipment. Sta
bility OF prices continues the best feature.
imitation being wisely prevented by con-
trolling interests. Reports from the great
iron centers during the closing week of
and motive power implying that furnaces
could not secure coke and were going out
of blast while pig iron could not be moved
from the yards 10 the mill Hence IL was
generally expected that the output would
show a material decrease. while furnace
stocks OF iron were thought 10 be some
what augmented. Instead. the Iron Age
has issued a most encouragi ng report of
26S furnaces in blast on Dee. l, with & ca
pacity OF S24 761 tons weekly. Thus a new
high record was attained under circum-
stances which appeared anything but pro-
pitious
Raw textile materials have developed dis
tinct frmness. Cotton not only retained
the spasmodic gain that followed the gov
eminent report: but made further sd-
vance and indications OF continued
strength attracted liberal purchases BY
spinners The goods market Is quiet. with
some lines are higher. Wool is readily
taken at unchanged prices. Mills here are
busy, and fall lines Of OvercOats have
opened satisfactorily.
Leather Is firmer. but shoe manufacturer
are unable 20 secure commensurate gains
because some shops have contracts for ma
terial at old prices. and are able 10 hold
quotations 10 jobbers al former figures
Exports OF wheat. including -four from
al ports Of the United States were 6s3 Gil
bu during the last two weeks. against 1911
sc5 bu last year. and T.362. 219 bu two wears
ago. Fancy prices have not yet materially
restricted foreign buying. but there Is evil
dence that Western holders are being
tempted 10 part with their supplies la two
weeks receipts have been l47S7SI7 bu
against 10, S44. s3f bu last year, and 1913 725
bu two years ago. Corn at I3I8c was a new
high point for nearly decade. exceeding
the price year ago by 50 per cent. and
approaching close 10 the quotation com
manded by wheat last year when the
Yield was short Naturally exports are
bssixnihcanL from Atlantic ports for two