The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-02-28
PRICES ARE VERY STRONG
THIS FACT IS THE LEADING flea
TURE IN DIsTRIBUTIvE TRADE.
Grain Movement Shows a Healthy
TOne-Iron and Steel Markets Ac.
tive-Weekly Bank Clearings,

NEW YORK, Feb. 27-Bradstreet's re-
view tomorrow will say:
Springlike weather conditions have en-
larged the jobbing demand for goods at
leading markets and favored expansion in
retail trade. except where the breaking up
of country roads has operated to restrict
the movement of grain and cotton to mar
ket. Building activity has been quite gem
orally resumed with more favorable
weather. Heavy rains in the Southwest
have quieted trade and retarded crop prep
arations in that section. Perhaps the most
notable feature Of the weeks developments
is the strength Of the price situation this
not merely with regard to producers and
manufacturers quotations, but also as to
rates paid by final consumers. The one de-
batable element in the 1903 spring trade
outlook has heretofore been the uncertainty
as to how the higher level of prices would
act on consumptive demands. This situa-
ton is apparently solving itself with aston
ishingly little friction. Transportation lines
have been rather favored by open weather
conditions this year, as compared with
February year ago, and large aggregate
gains in earnings for the month are pre-
dicted. The coke situation, however, is still
a subject Of complaint. Another evidence
Of railroad congestion is found in the re-
ports that large quantity of winter wheat
still remains to come forward
Notable developments In prices OF pri-
mary staples are firmer tone in pig iron
at home and abroad, advances in prices Of
iron and steel lars, wire and nails, the
highest price paid for raw cotton in three
years, continuance in the advance Of
copper, which places that metal at the
highest point for over year, and a re-
newal of the advance in tin, which places
that metal well above the level of several
years. With these exceptions other staples
have tended TO hold all their old strength
and the steadiness of SO many of the lead
ing commodities is in fact feature second
only to the aggressive strength shown by
the products above mentioned. Reports
from the cotton goods markets are all IA
vorable. Wool is steady. Coke, COAL
freights and wages have all advanced, and,
as expected, iron ore has Joined these con-
stituents of iron and steel manufacture
ton.
Wheat Qncluding -FOUR exports for the
week aggregate 2.656,S79 bu. against 2.713, 1872
last week, 3,234,54o in this week a year ago.
and 5,233,3l3 in 1901. Wheat exports since
July 1 aggregate 160. 792. GAS blu, against $780,
1866 099 last and 134, 295, 952 in 1901 Corn
exports aggregate Z,S6S,sSS Du, against ;, lSs,
457 last week, 1894 year ago, and 4.1S5. 440
in 1901. For the fiscal year exports are 3d.
739 .5S2 blu, against 3d. $50 last season and
131, $50 324 In 1901
business failures in the United States
number 1S5, against 1SS last week, 204 in
the like week of 1902, III in 1901 and 173 in
1900
r. G. Dun & Co.'S review summarizes the
iron and steel situation as follows: I'm
creased interest has been displayed by pur-
chasers of all products OF iron and steel,
giving a decidedly firmer tone to the mar
ket. and in many instances quotations have
advanced One of the definite changes was
q rise of 81 a ton in wire products. which
was not surprise, and a new ore schedule
averaging over IS cents a ton higher. This
makes every step of the process more ex-
pensiye to the independent producer-ore.
pig iron, coke. wages and freights having
reached higher position. To the leading
producer. however, the situation is less dis
turbing. as most of these factors are under
one control and 1t will be possible to hold
prices of finished steel at fairly con-
servatiye position. A very heavy tonnage
of pipe has been moved on old orders, and
considerable new business is reported"