The record-union. [volume] (Sacramento, Calif.) 1891-1903, 1898-04-16
though the State of Our Foreign Az
fairs flinders Business, 1.
ct Volume of Payments Through Clearing
Houses Is In Excess of Last Year.
industries Doing Well, on Account
OF Enormous Orders Taken
Earlier, Which Insures Opera
tions for Some Time to Come.

NEW YORK. April 15.-R. G. Dun
& CO.. Weekly Review of Trade" to-
morrow will say:
The meaning of Congress regarding
Spain is not in doubt, but the form of
declaration at this hour is in Ques-
ton. Preparations for war continue as
If it were inevitable. There is some
hindrance in business, and yet the vol
ume of payments through clearing
houses is still 1873 per cent larger than
last year, and outside of New York
about p per cent larger than in 1892,
though speculative stagnation here
makes the aggregate lower New York
banks may now realize that they are
strong enough for all possible emergen-
cies, and may give the Government
valuable aid by greater freedom in
business loans. Sound New York banks
are not in the least alarmed about the
business situation, nor have they any
occasion for alarm.
The industries are doing well, be-
cause they have enormous orders taken
in February and March, or earlier,
which insure operations for periods
varying from a fortnight to several
months But the new orders, upon
which they have to rely if partial stop
page or closing of many. works is to
be prevented, are just now restricted
by apprehension about the money mar
ket and the possibility of loans.
In the iron business there are orders
for about 10000 tons of structural work
held up by questions Of law; in Chicago
the large Postoffice order is yet wait
ing. and the Russian order for rails
hpNanGa
financial difficulties. While new bust
ness in this line is still very heavy, the
production is so large that it may east
~ be disastroUsly checked by a per
sistent restriction of the current de-
mand But foreign orders for six large
vessels are pending in Eastern ship
yards, and actual orders for cars alone
cover 10000 tons of basic steel at Pitts
burg. Angles have been advanced 81
per ton, and structural works are all
crowded with orders, while pipes are
in heavy demand
With prices for print cloths still al
the lowest point ever touched, buying
of cotton goods is more hindered than
many are willing to admit by the idea
that other goods, not equally over
produced may likewise decline in price
The stagnation in wool is something
remarkable, the total sales at the chief
markets having been only 1,lS2, IA
pounds. against 5000, $50 last year, ant
in the first half of April only 3,3S5O44
pounds, against 22,346,000 pounds a
year ago. Manufacturers are still wait
ing. although somewhat encouraged by
a rather better tone in the clothing
trade of late. They have ample orders
for the present in most lines. though
not in all.
Wheat rose Size, and held 2112c for the
week. although Atlantic exports for the
week have been 3,045O21 bushels Qioul
incIuded), against S76,719 bushels las
year. and Pacific exports S21, 1868 bush
els. against 212,056 last year. The tota
from both coasts for two weeks o.
April has been 1873, 1876 bushels
against 3,057 ,4S2 bushels last year. The
receipts from Western farms show some
decrease for the week, but for tive
weeks are only about 100000 bushels
smaller than a year ago.
Meanwhile it is astonishing that re
ceipts of corn continue remarkabi.
heavy. for the week more than a mil
lion larger than last year, and for tW'