The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1883-05-14
FREIGHT TRAFFIC LIGHT.

Bears on Wall Street and Dealers in Futures
Responsible.
Through business never vac so dnl, is the
general remark of freight men. Line agents and
local agents working zealOusly for freights,
but make poor Roadway. General freight agents
say that all over the country extreme caution Is
shown by business men. Orders for grain, flour,
lumber and all classes of staple articles are very
limited, and only of character TO meet immedi-
requirements. There is no complaint OF rates
being too high, but there seems to be general
dropping ont of the bottom to railroad traffic.
In looking over the local field, we find that the
grain men say that prices in this section are too
high to Justify them in attempting 10 make ship
IneDts to the seabOard, and little or no grain is
coming in even at prices quoted. Shipments OF
-four TO Eastern markets or for export are at "A
stand STILL and the two largest Touring mills at
Indianapolis are shut down. Gibson Co..
who usually employ niuety-three men, now have
but five men at work, and are running only to
supply local demand for their choicest flour. Ship
'ments Of lumber East amount to but little. com
paratively Speaking. Col. A. D. Streight has just
returned from the Eastern lumber markets and
REPORTS eastern lumber merchants ana mahuIac.
turers showing no disposition TO stock up, and
orders are of a hand to mouth character. West
bound traffic, as well, is fiat The north and
south lines are having so little business that the
agents are fighting for it, and have cut rates until
there Is no money to the roads in carrying 1t.
The Belt road is fair pulse TO railroad business,
and over u the transfers are 500 to 700 cars per
day below the usual average In asking the
the cause for this dizziness, their answer invari-
ABBY is that IL is due to the speculative mania
raging all over the c0untry-thls dealing In fu-
lures. Parties who have grain are holding II for
higher prices. Il is estimated that 40 per cent.
of last years crop is yet to go for
ward. The same lie true OF provisions; then the
bears on Wall street are constantly teleGraphing
over the country reports OF coming panies, which
viii not only effect railroad stocks, but business
generally, and timid people believe alt these re-
ports, Notwithstanding the fact that the bankers
and best businessmen Of the country state that
business never healthier and
s0under basis. As to when railroad business will
improve, majority of the freight men that
there ia little prospects for heavier traffic he
fore July, or when the new wheat crop begins to
move, as In June, under the most favorable cir
cumstances, business is light. There is one
spect In which the railroads are favOred-rates
by the water routes are being better maintained
than last year, consequently tine through lines
are getting certain per cent. OF business which
they wOud not get were the lake craft slaughter
ing rates AZ In some former years
Below Ia given the number of cars received
and forwarded In the week ending May IL. as
compared with that of the preceding week. 1t
will be noticed that an unusually large per cent
of the movement is empty cars: