The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1901-05-04
GENERAL BUSINESS CONDITIONS.
Were Never Better Though Over
shadowed by Speculation.

shadoyved by Speculation.
NEW YORK. May 3-R. G. Dun & Co.'S
weekly review Of trade tomorrow will say:
The greatest activity ever seen in Wall
street diverts attention, in a measure. from
progress in distributing and manufacturing
operations. But while on every hand stock
market interests are counseling caution and
attempting to prove that prices are really
more than the condition of some of our
railroads warrants, the fact remains that
without a brilliant crop outlook and a great
activity of general trade Wal street could
hold no such carnival. Labor difficulties
are fewer and less threatening than for
several years in the first week of May. and
prices of merchandise hold well.
Stability of prices and vigorous prescott
ton of work at mills indicate the favorable
condition of the iron and steel market.
Throughout the entire range of products
OF this industry the current demand for i'm
mediate delivery exceeds all previous rec
ords, yet makers maintain a conservative
position and prices are not pushed up to the
danger point. 1t is at the finishing steel
plants that there is the greatest urgency
tor shipments, and full capacity is assured
for the next three months. After July
there is a prospect of respite, Judging by
the light engagements of pig iron, and,
following the unparalleled activity OF the
past SIX months, n season Oh comparative
quiet would not be surprising nor unwel-
come. There was a rush to get in orders
for steel rails before the higher price be-
came effective, and the erection of new OF
nce buildings provides a great demand Tor
structural material, which is also in con-
siderable request on foreign contracts.
Dizziness is still reported in the textiles.
a further reduction to 2.56 cents for stand
ard print cloths did not accelerate opera
lions, as buyers appear confident that
goods will soon be available at 2s cents.
Mi ~ nf N ~ annhiffnn nf the M IN
facture is not helpful TO raw cotton, nor
is there support i'm better prospects for the
next crop and port receipts far in excess
OF last years movement. Still, there is a
feeling that the decline has gone far
enough, and this negative influence holds
the market fairly steady. There is no inn
Lrovement in WoolenS, and Coates Bros.
average of one hundred quotations of wool
on May 1 was ia cents. against 17.22 cents
Gil April / and ~. 20 cents a year ago. Small
concessions are reported in a few grades OF
shoes, and in other cases manufacturers
are making slightly better goods at old
figures.
Further advances were secured in the
cereal market, Chicago spectators being
forced TO cover May corn contracts at %
cents. Attractive prices brought more lib
eral receipts at interior cities, and also
stimulated operations on the farm. Traders
have forced the new crop options TO what
seems an unreasonable level. since there is
evidence of a large yield. despite delayed
planting through excessive moisture.
Wheat also attained a high point. advanc-
ing in sympathy with corn. O.
The marvelously healthy condition of
business is best appreciated when it is dis
covered that the defaults last month were
the smallest in ninety-one months, with the
exception of May TO August, 1899. inclusive.
IT, manufacturing lines there were but 163
failures, with q total Indebtedness of ST.
g91 ,694, against Us last year for 81, 4.0Oj.
Az 1899 reported the smallest liabilities OF
any full year I'm two decades. last months
good showing is made manifest by default
in manufacturing concerns. S7I7, 965 smaller
than two years ago. Trading failures were
555 for So. 16S. S23. and banking defaults were
$500, coo. The death rate was only three
fftieths of | per cent. OF all firms in bust
not a serious embarrassment 10 general
trade. The proportion OF unpaid bills was
less than &c cents for each $1,000 of solvent
payments through clearing houses.
Bradstreet summarizes the grain move
ment as follows: Wheat, including -four.
ipmen for the week aggregate 100. 163
tu. against 4.2S2. 19 bu last week. 1887 OPP bu
I'm the corresponding week Of 1900, and 81
4S4. 0Sl blu in 1899. From July | 10 date wheat
exports are lie. 916. 23S bu, against 166. OBS. COZ
bu last season. and 20l. los. ass bu In 1889
Corn exports for the week aggregate 2.31.-
sol bu. against 1.344. $50 bu last week. 3.41i.-
0i5 bu I'm this week a year ago. and 2.S47. 200
bu in 1899. From July / TO date corn ex-
ports are 157. obs. 436 bu. against 11S. 203. 075 bu
last season. and 1881 07 bu in 1889.
Failures for the week number l63, tas
compared with PA last week. 13 In this
neck a year ago and le4. in 1900.