The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1902-02-08
BUSINESS is EXPANDING
EXCEPT IN THE'sOUTH THE AGGRE-
GATE Is EXCEEDING RECORDS.
Demand for Iron and steel Far Beyond
Capacity-The Cereals and Tex
tiIes-Bank CIearings Report.

NEW YORK. Feb. 7.-Bradstreet's to-
morrow will say:
Trade developments this week have been
largely favorable. All the measures of
legitimate trade point to January e~qualing
in most respects and exceeding In many the
records of a year ago. Failures. 1t is true,
were larger in number, but the increase
was all at the South, from which trade
reports nave been poor. but show a slight
ly more hopeful trend since cotton has
taken its move upward. The general level
of prices moved slightly downward during
January owing to lower prices of specu-
latively dealt-in cereals and hog products
and a heavy decrease in crude rubber and
some chemicals. Most of the decline in
food products has been recovered since
Feb. l. The close of the week finds a con-
fident feeling prevailing in nearly all lines
of distributive trade, features in which
have been the enlarged buying by South
ern and Southwestern jobbers at Chicago
and other Western cities. The Southwest
ern drought has been entirely broken by
the additional snowfall.
Demand is again passing production in
iron and steel. There is a virtual famine
alike of crude pig iron and of products of
49, 1ohANAANAs VI NNohhNA ohN
nave hampered merchant iron furnaces in
western Pennsylvania, and some have had
to be banked. Pig iron sales in January
at Pittsburg were the heaviest in any
month for a year past. Premiums of so
cents per ton on pig iron are paid East and
West. A southern railway has gone abroad
for its steel rails. Canada steel billets are
reaching Pittsburg, and a brisk movement
fG Looked for This hos nrnronflxr hnan o.
flected in advances at foreign markets.
Hardware is very active at nearly all mar
kets. copper, after its excited fall and no
less excited rise, has steadied at a slight
advance on last week. Tin and lead also
are higher.
The worlds statistics of the wheat move
ment have been. on the whole, rather bull
ish this week. and, coupled with cold
weather, caused some Strengthening. The
volume of business has been of a scalping
character, however. Toward the close of
the week some export inquiry developed in
wheat. The margin in favor of the cash
article has widened during the past six
weeks, and the actual stuff is really higher
than a month ago. Flour is in better de-
mand at st. Louis. Corn and oats have
sympathized within narrow limits. Hog
products have advanced with the coarse
grains, and also because receipts of hogs
have been small.
Wheat, including flour, exports for the
week aggregate 1880, 457 bu. against 300, SOS
bu last week and 977,131 bu in this week
last year. wheat exports from July i TO
date aggregate 10. LAG, s77 bu, against 119, 776,-
1S5 bu last season. Corn exports aggregate
169, 145 blu, against All DIS bu last week and
last, 7f blu last year. From July 1 to date
corn exports were 22,O31. 400 blu, against 49,
1862, 059 blu last season.
Buyers and sellers of staple cotton con-
tinue apart. and sales are not heavy. The
contrary is true in the jObbing branch.
particularly i'm prints and ginghams. The
latter are heavily sold ahead in all de-
partments. Plain woolens have held their
favorable condition of last week, but a
strike of a few wool mill hands near Prov
idence has rendered a large number of
operatives idle. A good trade i'm linens and
silk is reported at New York. Raw wool
has remained steady on moderate demand
and restricted supplies.
The spring demand for boots and shoes
is not active, though more is doing at Phil
adelphia. Trade is reported slow at Chi
cagO, and only gradually opening up at
Boston. Shipments at the East during jan
uary were 10 per cent. in excess of a year
ago. Leather remains steady and i'm fair
demand, despite the weakening in prices
of hides.
Failures in the United States for the
week number 2i7, against 303 last week,
$50 in this week last year. and 2S1 in 1906.