The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1902-02-15
IMPORTS OF STEEL RAILS
DOMESTIC MILLS UNABLE TO SUPPLY
THE DOMESTIC DEMAND.
Slight Decrease in Railway Earnings
Higher Prices for Farm PRODUCTS
Textiles and Footwear.

NEW YORK. Feb. AR. G. Dun & Co.'S
Weekly Review of Trade tomorrow will
say:
Business continues to progress salts
factoriy, Notwithstanding heavy losses
through the elements. 1t is only another
evidence of the solid basis upon which the
Nations industries are established that
following recent disasters in each place
plans for rebuilding on a grander scale
were made before the shock of the catas-
trophe had fully passed. The labor sit
uation has distinctly improved during the
past week. Disputes al wooden mills were
adjusted, except as to the weavers, threat
ened disturbances in coal mines averted,
while some railway employees received vol
untary advances in wages. A slight de-
crease-3-5 per cent-in railway earnings
for the first week of February, as COM
pared with the same week of last year.
was not surprising in view of the many
severe storms and the diminished move
ment of grain.
In the iron and steel industry ii is now
being demonstrated that there is such
thing as too much prosperity. During the
last few years there has been such mar
velous expansion in domestic business that
the capacity of furnaces and mills, as
well transporting facilities, have failed
to keep pace. The result is a gradual
falling behind with deliveries and a ten
dency of buyers TO send orders abroad
whenever needs are urgent One case is
now in evidence of steel rails to be de-
livered at a Florida port, which, after
paying the duty, viii cost s. a ton more
than the regular domestic price. Yet home
producers are fully sold up TO about Sept
l According n A Ga MIC
production during January was at the rec
ord-breaking rate of $4,000 tons and the
reduction in furnace stocks indicated that
the consumption was still greater.
An unusually large number of buyers in
the Boston footwear market promises much
business though there is some hesitation
about paying the recently advanced prices
In the textile industries there is notable
strength and activity in silk goods, despite
a slight shading of raw silk. Liberal job
blng distribution of dry goods has brought
a gradually expanding demand. except on
Southern orders, which are below expecta-
tions. Stocks of cottons, lightweight wool
en- goods and wOrsted fabrics are short and
deliveries are often later than the specified
date.
Higher prices were the rule in the mar
kets for the leading agricultural staples
Interruption to movement by deep snow
and the holiday was not sufficient explana-
ton of the decrease Of Western receipts of
wheat to 2,294,9S2 bu. against 2.9io, 1858 bu last
year, or OF corn to 1,35l,6OO bu, compared
with 4, 4O2, 539 year ago. If present high
figures are not attractive enough 10 bring
out more liberal movement there is evil
dence of light supplies and prospects of
continued strength. On the other hand,
some neutralizing influence must be recog-
nized in exports Of wheat. flour included
from all ports Of the United States aggre-
eating only 3.429S20 bu, against 390,O53 bu
last year. while Atlantic ports sent out but
396075 blu of corn, compared with 1926 692 a
year ago. Cotton was even more vigorous
ly advanced, middling uplands attaining the
top point of the crop year. The late i'm
provement will be of little benefit TO pro-
ducers. however since only 100000 bales
have been marketed and much of the bal
ance undoubtedly has been passed into the
hands of factors.
Failures for the week numbered 24O in the
United States, against PSI last year, and
thirty-three in Canada, against forty last
year.