The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1902-01-18
ON A GOOD BASIS
PRODUCTION OF IRON AND STEEL OF
NORMAL DIMENSIONS.
Premiums for Prompt DeIiveries-Gen-
ernI Commodfties Arc Lower
Grain and Textile Movements.

NEW YORK. Jan. T.-R. G. Dun & Co.'S
weekly trade review tomorrow viii say:
REIMBURSEMENT Of prices continued dur
ing the second week Of January. and the
general average reached a much lower
point than prevailed when the year opened.
Manufactured products were scarcely dis
trrbed, but staples and securities suffered.
Business conditions are sound. liberal dis
tribution and prompt payments being re-
ported, except at a few Southern cities.
Cotton still fails to command a price pro-
portioned to the stimate crop. and as a
consequence the return TO growers is in
sufficient TO sustain business at the rate
established by the previous years profit
able yield. Transporting interests are less
behind with deliveries. and railway earn
ings for the nrst week OF January snow
gains of "a per cent. over last year ) pne-
nominal figures and IA over l~o-
Nothing has transpired TO disturb the
bright outlook in the iron and steel indus
try. Deliveries OF fuel are less delayed and
furnaces are operated fully, while mills re-
ceive material with a Iair degree OF
promptness Quotations are maintained
firmly. especially for pig iron, which IS In
great demand. Large contracts have been
placed for bessemer at $1,000 on Plttsburg
deliveries in June. Spot sales IN small
quantities are much higher. Structural
material is taken eagerly and more for
elgn bridge contracts are reported. Bullets
cannot be had in sufficient bulk from DO
nestle producers. SO that imports from
Germany are sold at Youngstown for SZl.S0.
Production of pig iron on Jan. j, according
to the Iron Age, was $500 tons against
ing the last two weeks conditions nave I'M
proved so rapidly that the present rate or
Stocks az the furnaces showed a further
decrease TO PIG. 137 tons on Jan. 1. Sales or
copper, are made at lie, which makes a
somewhat striking comparison wSh the
= raaVs cont hfUhan gnrr ff = faU weeks
ago.
Footwear producers have at last made a
general advance Of from p. 10 5 per cent.
Wholesalers have not altered lists. Hides
are weaker, which is natural at this season,
when the quality deteriOrates. Stocks or
cotton goods are not burdensome. and de-
mands gradually expand with the ad-
vancing season, especially for fine grades.
Wooden goods opened lower than expected
and purchases were retarded rather than
stimulated by the declines. Changes were
few and small. yet there had been such
confidence I'm a higher level that the trade
hesitated. Wooden and worsted yarns tend
upwards.
Grain reacted sharply from the high
points. and a large Western operator was
caught with more than he could carry.
Forced liquidation Of this long account
facilitated the work Of manipulatOrs for a
decline. Another unsatisfactory feature
was the recent falling of in foreign de-
mand. official figures for December show
ing smaller exports of wheat than for any
month of the calendar year, although for
six months OF the crop year there still ap-
pears a gain Of about 50.0e0.00 bu over the
corresponding months of 1900 or 1899. This
week exports were 4.34S,3il bu. against
$3.50. 725 a year ago. Corn declined sharply.
but still remains about Doc a bu above the
price last year. Exports I'm December were
only about 6 per cent. OF the outgo In the
same month OF 1890. while for the week
Atlantic ports sent out 1854 bu, against
4,695, $50 a year ago.
Failures for the week numbered S34 in the
United States, against 35 last year, and
forty in Canada, against forty-three last
year.