The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1902-06-07
REVIEW OF WEEKS TRADE
OBSERVATIONS OF DUN AND BRAD
STREET AGENCIES.
Though Pig Iron Is Scarce, No Ad.
vance Is Made i'm Steel Rails for
Delivery Next Year.

NEW YORK, June ca. G.. Dun & Co.'S
weekly review of trade will say:
Peace in South Africa has greatly i'm
proved the outlook Foreign Industrial mar
kets will quickly benefit by the development
of that country, while a return to active
gold mining will have helpful influence
in monetary circles. Owing to the present
exceptional home consumption producers
in this country may not be able TO take ad-
vantage of the opportunity Immediately.
but even the indirect effects must be bene-
fetal Domestic conditions still have but
the one drawback of labor disputes, which
have reduced the earning power of a large
force. Outside the limits of this influence
there is little cause for complaint. orders
are large and distribution is less inter
rupted by the shortage of cars. Railway
earnings for May show an Increase OF 6.S
per cent. over last year and IA per cent
over 1900
producers maintained their conservative po-
sition by making no advance I'm the price
of steel rails for delivery in 1903, notwith-
standing the material rise that has occurred
in pig iron. Much new business has beer
placed during the past week, althousa
consumers have found difficulty in booking
orders for delivery in 1902. This is espe-
cially noticeable to structural material
and railway supplies. Interruption TO work
at blast furnaces was not wholly averted
but the loss in output did not reach a
large figure owing 10 prompt concessions
on both sides. Practically no orders were
accepted for pig iron, however, owing to
the uncertainty as TO the extent OF the
strike. In tubes, pipe and foundered lines
there is much activity with quotations fully
maintained. Bituminous coal is abnormalIy
stimulated by the anthracite coal shortage
and the output of coke in the Connelsville
region is establishing new record each
week. According TO the latest report less
than 4 per cent. of the ovens are idle
Sales of footwear have materially in
creased with the advancing season, job
bers reporting especially favorable condi-
lions. a temporary season of activity oc-
CURED in leather, hemlock soles selling in
moderate quantities. but shoe shops soon
secured all the desired material. Betting
butts were the most satisfactory division
of the leather market, prices being strong
and demand sustained. Quiet prevails in
! hides
Textile goods are firmly held with stocks
| we'll under control. Buyers show a dispo-
| sition 10 hold back orders. yet better terms
are not indicated by the condition of sup
| plies The fall print basis has been estab-
| lished. at least for the time. Inquiries are
| larger for export grades of cotton goods.
| but sales in all lines are limited Quiet
| conditions also reported in woolens.
| some cancellations following the better de-
liveries by mills recently idle through
strikes
! Satisfactory weather in the leading pro-
| ducins regions had a depressing influence
| on grain quotations and last weeks ad-
vance was lost. Cash prices were slow 10
| react, owing 10 the extremely strong sta
| lstical position, but the next crop options
| FULLY reflected the progress at the farms.
| Failures this week in the United States
were 21S, against 194 last week, 1872 the pre-
| ceding week and lS5 the corresponding
| week last year. and in Canada 10 against
20 last week, u the preceding week and %
1 last