The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-03-14
PRICES AT A HIGH LEVEL
BUT BUSINESS KEEPS UP WITH PAST
MISUNDERSTANDING FIGURES.
Heavy Movement in Cotton and Corn
Building Activity Is Very Great
Weeks Bank Clearings.

NEW YORK, March 1S.-Bradstreet's to-
morrow will say:
Demand is active, with staple prices
strong at close to record levels, despite
drawbacks in the shape of bad roads, Ia
Dor troubles East and West and heavy
rains, overlooking rivers and backward
farm preparations in the South. The con-
tinued reports of slow and even poor col
lections noted for some time past were
accentuated partly, perhaps, the result of
the bad condition of the country's roads
consequent on the change in the season. La
Dor troubles, present and prospective, espe-
cially harass the building trades consum-
ing iron and steel in the metropolis. The
traffic congestion, though improved, still
affects the transportation of coke, lumber.
flour and grain. Railroad earnings are
simply magnificent for this time of the
year, the country's railroads in February
showing gains of IA per cent. in gross re-
ceipts and the March returns are fully as
favorable Export trade showed a very
notable increase in February in many lines.
but particularly in the shipment of corn
and cotton.
Retail business generally has been
checked by the weather. but this has not
initiated against business with jobbers.
Lumber trade continues active the country
over Prices are firmer at close to top
quotations. The only complaint Is that
congested railways render quick deliveries
impossible. The much feared check to
trade caused by past heavy advances In
staple prices as yet has failed to mater
ialize. The present. level of commodity
prices is at the highest point reached In
three years. February's movement was
very generally upward, the staples advanc-
ing while only fifteen declined. and what
is more impresSing, hfty-two products re-
manned unchanged. Compared with year
ago, one-half of all staples are higher,
while only one-third are lower. New fea-
lures are the expansion noted in demand for
crude and finished iron and steel, very
heavy advance in the prices of copper,
claimed to be due to increased consump-
ton and export takings; higher quotations
for lead, firmer cotton, accompanied by
great excitement and wide fluctuations and
quite steady cereal prices. with astonish-
ingly little weakness shown in this latter
line despite numerous bearfsh features.
The unsettlement in raw cotton early tend
ed to discourage demand for cotton goods
at wholesale. Wool is fairly steady, with
rather more inquiry in New England.
Orders for shoes at Eastern markets are
quite liberal shipments for the week be-
ing per cent. larger than in this week a
year ago, and for the season the increase
is nearly the same percentage.
Wheat, including flour, exports for the
week aggregate 1856 TAG blu, against 3, 491, 4S6
last week, 2906, $50 in this week year ago,
and 4,690,939 in 1901. Wheat exports since
July 1 aggregate 167, $50 bu, against 49,
les, 293 last season and 143, 419 in 1900.
Corn exports aggregate 3,257, 999 blu, against
3S17, 609 last week, 1914 year ago, and
3246575 in 1901. For the fiscal year exports
are 81. S151 9S blu. against % 654, $40 last sea-
son. and 135. 9s3 O36 in 1901.
Business failures in the United States
for the week number 49, against III last
week. 224 in the like week of 1902. and 207
in 1901.
r. G.. Dun & Co.'S review says of the
iron and steel situation: 1T is already al
most certain that railway construction will
far exceed even last years enormous fig
ures and similar conditions exist as to
building and bridge operations. Despite the
higher range of quotations prevailing
abroad many contracts are being placed
with foreign producers. Noteworthy
strength again appeared in the minor met
ais, especially in copper, which reached
the highest point since 1901