The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1902-07-12
BUSINESS OF PAST WEEK
REVIEW OF BRADsTREET AND II. q.
Dun & co. AGENCIES.
As Usual. Reports of Crop Damage
Prove Exaggerated-Big Demand
for Iron and SteeI-Clearings.

NEW YORK, July ll-Bradstreet's to-
morrow will say:
Warmer and more settled weather in
many sections has helped seasonable trade
and made it possible to ascertain that the
earlier reports of grain crop damage from
rains were rather exaggerated. Among the
industries, iron and steel still rank first.
The chief source of complaint is the
scarcity of coal and coke limiting pig iron
production at critical period The labor
situation has rather improved. il anything.
Railway earnings thus far reported for
June (the anthracite roads excepted show
an aggregate gain of per cent. on last
year, and all reports as to probable crops
and trade point to heavy tonnage The
strength of food prices. particularly cereals
and meats. is still high Except for wheat,
the highest prices paid for ten 10 twenty
years are being maintained. The ability TO
pay the prices ruling in the past year is
one OF the best evidences of the prosperity
prevailing among all classes A further
light on this matter is shed by the reports
from all parts of the country of enormous
passenger traffic by rail and water during
the first week of July
Failures are down to a low summer mimi
mum 1t is a significant fact, in view OF
recent crop-damage talk, that the govern
ment report for July shows that winter
wheat oats, barley rye and hay all i'm
proved in condition during June. and spring
wheat alone lost a trlhe. The bumper crop
OF corn seems measurably within sight. in
view OF the Agricultural Department report
that most of the leading States are above
m rT~N.
from 2,O0,00OO0 bushels for the crop. a
total never hitherto reliably estimated. The
wheat crop, despite drawbacks, promises
still to be one-fifth above the ten-year av-
erage, and the indicated oats production
has never yet been equaled The barley
rye. potato and fruit crops all promise bet
ter than year ago
Trade in seasonable goods at wholesale
has been restricted, but warmer weather
has helped retail business. Fall business
has been of good proportions at the West,
and clothing and shoes have done especial
~ well at st. Louis. Shutdowns of
Schuylkill, Lehigh, Mahoning and Shen-
| ango valley furnaces. because OF lack Of
tuel, reduced the volume OF iron prOduc-
ton when their full production could be
adVantageously handled. Rails are in I'M
precedented demand, and so per cent of the
country's production for next year has al
ready been arranged for In structural
shapes and other heavy forms the demand
!
the order books. Import arrivals of iron
and billets are large. In some lines how
ever, notably in tin plates, wire sheets and
bars, business now is slack. Hardware is
In very active sale, a feature being the
large business in fall lines already booked
cotton goods are quiet at the East after
me recent price revisions. Some busint IS
for export to India is reported, but Chi
neSe trade is quiet. The Eastern wooden
goods trade is in quite good shape Wool is
! firm and working higher and spring wool
ems will, it is expected. open 5 to 10 per
cent. higher. Lumber is rather less active
than of late, white pine particularly so. but
stocks are small and no great decline is
predicted.
Preliminary returns of export trade for
| the hScal year shows the smallest exports
! of breadstuffs for four years past due Ia
| the shrinkage in corn and oats more than
| off-setting probably the largest wheat shin
ments on record. High prices for cattle
! checked exports also. but provision shin
ments have broken all records Cotton ex-
| ports are as per cent. below last years rec
| ord-breaking total. but petroleum exports
were never before equaled. The aggregate
| of the exports of breadstuffs coal and pro.
visions, cotton and petroleum is Is per cent
below last year, but still l per cent. larger
| than two years ago. which was up 10 that
time the greatest ever recorded.
! Wheat Including -FOUR exports for the
| week ending July 10. aggregate 4Oi IL
| bushels. against 3.311.215 bushels last week
| and 5,016. 149 bushels in this week las wear
! 0J9 lis bushels, against 7,541 2H bushels la
season. Corn exports aggregate 1S5 L.
! bushels, against 1889 bushels last weel
and $500 73S bushels last year For the ifs
cal year corn exports are 249. lis bushels
| against 4. 29i. $50 bushels last season
Business failures for the week nun,be,
! 195. as against 13S last week and 1873 in thi
/ week last year.