The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-08-08
Conditions Reported by X. G. DIN e.
Co. tn BE as Favorable rs They
Were n Year Ago.
PRICES ARE LESS INFLATED
COST OF COMMODITIES HAVING DE-
CLINED 1.5 PER CENT. IN JULY.
Railway Equipment Already made
quate to Handle the C~rops-Brad-
streets View of the Situation.

NEW YORK, Aug. 7.-R. G.. Dun C Co.'S
weekly Review of Trade tomorrow will
say: Trade advices from nearly every
section continue to show as favorable con-
ditions as a year ago, and in many lines the
volume of transactions has been increased.
Jobbers report fall business opening with
excellent prospects, and manufacturing
plants are we'll occupied. with the exception
of cotton mills. Distribution of merchan-
disc is so heavy that railway equipment
already proves inadequate, although crops
are not the factor that they will be in a
few weeks. Earnings for July exceeded last
years by 12.7 per cent. and those of 1901 by
@.2 per cent. On the whole, news from the
farms is less favorable. but no serious
curtailment is assured, and many sections
make very bright reports. A decline of 1.5
per cent. in the cost of commodities during
July is evidence that prices are less in
fiated, since the change was mainly in
meats and ether food, which have been
ruling at an abnormal position.
Consumption of iron and steel is on a
large scale. and in many departments the
past week has Witnessed the signing of
numerous contracts, but there is a tendency
to delay purchases beyond early needs.
This conservatism is not surprising in view
Of the uncertainty regarding the security
and financial markets, together with con-
siderable interruption of construction work
through labor controversies. The rate of
consumption and the moderate size of or
ders, however, indicate that stocks are
running low, which encourages furnace
men and mill operators to hold quotations
fairly steady. A moderate tonnage Of pig
ivnn hoo hnnp Ap1apa1 npI H. a~x1.. g.
ished products the best feature just now is
the bidding Of agricultural implement max
ers. More pig iron was imported during
July than anticipated, and German billets
are still offered at P~ittsburg, but the do
nestle makers announce their intention of
meeting foreign competition. There is less
extending the canning season and giving
more time for delivery of cans. There is
full occupation in all branches of this in
dustry, and in merchant pipe also the mills
have full order-bookS for many months.
mo change is noticed in the attitude of
cotton goods buyers, who appear deter
mined to postpone business until the read
Justment of prices for raw material. Ow-
Ing to the gradual reduction In milf stocks
there is a similar disposition to delay un-
dertaking new contracts, and the result is
view of comparative steadiness OF retail
prices and the activity in dry goods trading
at many points, 1t is evident that stocks IN
other than first hands were larger than
was believed when the speculative advance
began. Although .jobbers report bright
prospects for fall trade. it is remarkable
that they make so little effort to secure
forward deliveries. Irregular distribution
of orders is reported in woolens, some lines
being withdrawn, while others make little
progress. An increase in number of buyers
is encouraging. and in the aggregate sales
are fully up to normal. Healthy conditions
continue in footwear, some grades advanc-
ing in price, while New England shops are
not able to accept orders for delivery in
several months.
There were ITS commercial failures this
week in the United States, against 100 last
week, 191 the preceding week and 1876 the
corresponding week of last year."