The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-08-29
WEEKLY TRADE REVIEW
PESSIMISTIC PREDICTIONS OF DE-
PRESTON NOT FULFILLED.
Decline in Securities Has Not Serious
~ Affected the Industrial Stu
alton Anywhere.

NEW YORK, Aug. 2S.-R. G. Dunn &
Co.'s Weekly Review of Trade to-
morrow will say: There is still no indica-
ton of the depression i'm trade and indus
try that pessimists predicted would follow
the decline in securities. Conservatism was
developed by the uncertainty regarding the
effect upon financial conditions, but legiti-
mate business is able to secure funds as
they are required, and the more cautious
progress of business gives promise of
greater permanent gain. Weak spots have
been disclosed. and the technical position
strengthened, just as occurred in the stock
of prosperity in the steel industry 1t is es-
fiation must of necessity bring some losses,
yet the outlook is frightened by the re-
moval of threatening Industrial clouds. Dis
patches from all sections testify to the
liberal distribution of merchandise and the
disposition to prepare for greater consump-
ton of all the necessaries of life, while the
crops are making good progress aside from
some cotton districts in Texas. The num-
Der of buyers in New York is increasing
and heavy fall trade is anticipated.
1t is gratifying TO find that consumers
of pig iron have at last apparently decid-
ed to place contracts without waiting for
further concessions. The decline has now
reached its limit judging by the larger
amount of contracts offered and this is the
most important indica ton of a restoration
OF prosperity in the stel industry. 1t is es-
timated that a large tonnage of structural
steel will be ordered for delivery in
1904, although this is in large measure
dependent on labor controversies. The rail-
ways are still vigorous purchasers of steel,
especially as to rails. There is fair bust
ness in plates and sheets, but an effort TO
resell an oversupply of bllets has pro-
ouced temporary weakness in that divi-
sion.
There is sufficient business on the books
of the New England shoe manufacturers to
assure full operation of machinery for sew
leather are reported, there is little demand
for soles. Domestic hides again average
slightly lower. but small offerings maintain
imported hides. Thus far the liberal job
bling trade in dry goods has not affected
the situation at the cotton mills, where
the percentage of idle machinery has in
creased Wooens quiet and the only
event of Importance in silks was a special
sale at low prices
Bradstreets will say: Wheat, including
-four. exports for the week ending Aug q
aggregate 3,245.056 bu, against 1872 7S9 last
week. 5,436.5 $50 this week last year, 6,6O7 Gil in
1901 and 3.24S.313 in 1900. For eight weeks of
the cereal year they aggregate 25073, 2S9 bu,
against SO, 299 in 1902 "a 761 500 in 1901 and
20, 925, 919 in 1900. Corn exports for the week
aggregate S66.32O bu, against 509.4 last
week, 115,15O a year ago. 1.91S in 1901, and
3, III, 400 in 1900. For eight weeks of the
present cereal year they aggregate S.325 295
bu, against 7b4 6o9 in 1902, $3.50 021 in 1901 and
rs, All, 6s5 in 1906.
for the week ending with Aug. q number
l42. against 1876 last week, lao i'm the like
week of 1902. 1ss In 1901, les in 1900 and I31
in $780,.