The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-04-03
BUSINESS IS WAITING
VOTE ON THE TARIFF BILL LONG
SINCE DISCOUNTED On CHANGE.
The Iron Trade Fears the ETect Of
Anti-PcOling DecisiOn-Dun AZ Co.'S
and Bradstrcet's Reports.


NEW YORK. April 2.-R. G.. Dun & Co.'S
Weekly Review of Trade tomorrow will
say: The markets are still waiting. some
sagging and others recovering. The vote
of the House in favor of a new tariff bill
has made no impression on business, since
IL has been expected since November that
some measure of the same general charac-
ter would become a law. If the bill stands.
with its provision making new duties APP
plicable April l. chances are that foreign
imports and treasury receipts may be for a
time considerably restricted. The market
for products has been variable and uncer-
tain. Wheat closes a cent lower than last
week and the May option has declined &c
and Western receipts for the week have
been 2,1S1,557 blu, against 1851. 205 bu last
year. while the Atlantic exports. flour in
cluded. have been :. 1S5. 27S bu. against 1,2S0.-
O3 bu last year. The movement Of corn
continues so large as to materially affect
the demand for wheat, Western receipts
having been 1913, S62 blu for the week.
against 1.946. 0i5 bu last year. and Atlantic
exports 1921. 500 blu. against 1,O65, 1896 blu last
year. Current trade estimates regarding
the wheat crop are a little more favorable,
and are somewhat more likely to prove re-
liable as the advance of the season makes
the condition of growing wheat better
known. Cotton has not changed in price,
although the floods in the Southwest have
doubtless done much harm. The cotton and
other textile manufacturers are slowly go
ing in business. though print cloths and
most staple c%ottons remain unchanged in
nr1RA nnh tn -
have given some relief to the market. The
buying of wool by mills is still a note
worthy feature. being far in excess of cur
rent consumption, but there is a much
greater volume of transactions between
dealers and at the three chief markets the
sales for five weeks having been 63. 725. 200
pounds. against 25.377, 616 in the same week
of 1892, when the mills were well employed.
Prices are very strong. both here and at
London. where the advance since the sale
began is from ID to 20 per cent. but there
are feverish Irregularities indicating that
holders are not all of one mind. and some
remember that many large mills have taken
stocks for a FULL years consumption.
The iron and steel industry has been
staggered. so to speak. by the decision of
the Supreme Court affecting railroads. since
IL is apprehended that purchases not only
of rails. but of cars. locomotives and bridge
materials may be affected. The demand
for rails is still considerable. and one order
is pending for 10000 tons for Japan. but
the reduction in MeSaba ore. with the want
OF agreement as yet among producers of
hard ores. tends to encourage the belief in
lower prices for finished products and so
TO hinder buying. The great struggle be-
tween the ore-producing companies of
Mesaba has not yet SO far developed that
anybody can feel confident as to the future
cost of iron. Meanwhile. with pig ac-
cumulating. although some furnaces have
stopped production. the price of Bessemer
at PittSburg is a shade lower at $40. % and
grey forge at 50. but there are no quotable
changes in prices of finished products. al
though the tone is rather weak. The new
continuation In Hnf nails only QffQRtS all
ing prices In Eastern markets.
Bradstreet's interesting Statistics.
NEW YORK. April 2.-Bradstreets's re-
port tomorrow will say: The course of
general trade shows some Improvement
Notwithstanding an almost complete stop
page of business in the south Mississippi
valley by w%ashouts. overiows and floods.
The condition of country roadways
throughout the central Western States and
the Northwest is such as TO still further
delay collections and check demand from
interior merchants. Another drop is re-
corded in prices of Bessemer pig iron and
steel billets. and in wheat, flour, coal,
coffee and lard. which is in part offset by
increased activity and higher prices for
wool and for woolens. for corn, oats, sugar
and petroleum. A heavy movement of fer
q I'D iSpOA III t4lC OOuln <1lldlltiO
States. interest in lumber and shingles has
increased on the northwest Pacific coast
and Galveston is exporting cattle to Eu-
rope direct. The most favorable trade re-
ports are from Northwestern spring wheat
States. There are 4.O42 business failures in
the United States reported by Bradstreet
during the past quarter, compared with
4.l52 In the first quarter of 1896, q falling
on or about IL per cent. The decrease is
rln0rfH6 from oil Ganttnnc nvnnNt AZ.
England and the Territories. The larger
number of Eastern state failures are small
ones. The total liabilities Of those failing
in the New England States are about -
per cent. smaller during the past quarter
than a year ago. Liabilities of all individ-
uals, firms n corporations which failed.
amount to S62, 513, 600. a falling off of is
per cent. from the corresponding total last
year.
Special reports to Bradstreet from fifty
cities with reference to revival i'm actiV-
ity in industrial lines indicate there are
at work at those centers probably not to
exceed LOG, 900 in excess of the number en-
are largely among employees of manufac-
turers OF wooden goods, shoes, clothing.
machinery, engines agricultural imple-
ments, bicycles, carriages, furniture, iron.
steel, glass and ~shipbuilding. Depression
still exists among some branches of the
wooden goods industry, in coal mining and
cotton goods manufactures.
Bank c~learings for March at eighty-two
cities throughout the United States show
an increase of Is per cent, compared with
March one year ago. the first monthly in
crease over a corresponding total one year
ago since April. 1886. The March gain over
February this year is IA per cent. but the
decrease from the January total is 60 per
cent. Compared with March. 1895, March
this year shows a gain of more thar 4
per cent. and with March. 1894. IL is nearly
II per cent, but compared with March
clearingS in 1893, two months prior to the
outbreak of the panic. last months total
shows a falling off of % per cent. The
weeks clearings, amounting to Se06. 600. 900.
are 2.S per cent. larger than the total last
week. 3 per cent. smaller than that in the
week n year ago. 10 per cent. less than in
tho like period Of 1925, 4 per cent. less
than in 1894 and y per cent. less than in
the last week of March. 1893.
Exports OF wheat flour included as
wheat) from both coasts of the United
States and from St. John. New Brunswick.
this week amount to 2.46i, 645 bushels,
compared with 1.749,0G0 bushels last week.
/ .GaS.000 in the week a year ago. 2.S3.00o
in the week two years ago, 2.T7S.000 i'm the
like period of 1894 and as compared with
1855. 900 in the corresponding week of 1893.
being the largest weeks total exports OF
wheat and flour since the first week of
February last. Exports of Indian corn
amount to 4.970.127 bushels this week. COM
pared with 5.S62. 600 last week. 2.1S9.OOo in
the week a year ago. Isl. 900 two years ago.
1.216.000 three years ago and as compared
with 9ii.00 in the like week of 1893.
There Is Improvement In demand for dry
goods. hats and caps among Toronto iob-
bers. Proposed tariff changes in the Do
minion continue 10 affect prices OF staples
quiries more frequent. Stocks OF staple
merchandise are low and orders are light
at Halifax. Recent C~nfavorable reports
concerning the Newfoundland fishery are