The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1902-08-09
ABUNDANT AND GROWING
PROSPERITY Is MOVING TOWARD
NEW AND HIGHER LEVELS.
Agricultural Outlook the Best Ever
known, Iron, Steel, Footwear and
Textiles-Week's Bank CIearings.

NEW YORK. Aug. s.-R. C. Dun & Co.'S
weekly review of trade tomorrow will
say:
Bright prospects in agricultural sections
far outweigh the adverse influence of labor
disputes. which are still retarding trade
and manufacture. Confidence in the future
is mistaken, dealers everywhere are pre-
pairing for a heavy fail trade, while con-
tracts for distant deliveries run further
into next year than is usual at this date.
Activity has been noteworthy in lumber
regions and fshpacking made new records.
Railway earnings are fully sustained, the
latest returns showing an average advance
of 3.9 per cent. over the corresponding
period of last year and 2lS per cent. over
1900.
Aside from the fuel scarcity and some
congestion of traffic the iron and steel sit
uation continues prOpitious. Coke ovens In
the Connellsville region maintained a week
~ output of about $4,000 tons and find
ready buyers at full prices Much more
could be used to advantage. Conditions
are indicated by the number of orders go
ing out of the country which domestic
production cannot undertake. Thus far the
imports have had little influence on domes-
tic prices, except as to billets, which are
freely offered below the home market level.
| New contracts for pig iron were placed this
week, covering deliveries in the second
| quarter of 1903, and structural material is
| desired for bridges and buildings that will
| not be received until even more remote
| dates. Machinery and hardware trade is
| fully sustained. but there is idleness at
| tin plate mills and glass factories. Minor
metals are steady.
| Footwear factories are we'll engaged on
| fall orders and spring samples, and the
| tone of the market is firmer, although ac-
| tual advances have been few. Hides con-
| tinue their upward movement, many grades
4 gaining another good fraction. Both do
| nestle ana foreign hides share the better
| feeling, the former being at about the top
| record.
| Dry goods buyers are coming into this
\ market to a considerable extent, yet with
| out placing orders Of any size. Cotton
| goods exporters are practically out Of the
| market, prices in China being below the
/ point where the profit is possible. a few
lines Of cotton are fractionally lower, and
| further declines are possible. Private adj
| vices do not indorse the official statement
| of a lower condition on cotton plantations.
| Further lines of worsted have been opened
with an advance in keeping with last
| weeks quotations, and an indication of
stability is the lack of speculative pur-
chases. Raw wool Is fully sustained at
| recent advances, the average of one hun
| dred grades showing a gain of nearly a
| cent, as compared with the level on May /.
| Splendid growing and harvesting condi-
| lions have prevailed in most parts of the
| country, especially where the larger and
| more important crops are raised. 1t is
| now almost certain that the agricultural re-
| turns will be far above the average TO
| quantity, while the low stocks at the open
| ing OF the season are calculated to sustain
| prices and there is little prospect of a re-
| turn to the low quotations of preceding
| years of bumper production.
| Foreign commerce at this port is still less
| favorable than in the same week last year
exports declining $9,75,690, while imports
| increased slightly.
| Failures for the week number 196 in the
| United States, against 173 last year. and
| IA in Canada against 81 a year ago.