The Union times. [volume] (Union, S.C.) 1894-1918, 1898-04-22
TRADE REVIEW.
Large Orders For Iron and Steel Work Are
Being DELAYED


Il. G. Dun & Co.'S weekly review OF
trade reports as follows:
Preparations for war continue as IL 1t
were inevitable. There Is some him
oTance In business, and yet the volume
OF payments through clearing houses is
still 1873 per cent larger than last year,
and outside New York about 22 per
cent larger than i'm 1892. tho" IN specu-
latiVe stagnation here makes the ag-
gregate lower. New York ba-,;s may
now realize that they are strong
enough for all possible emergencies.
and may give the government valuable
aid by greater freedom in business
leans. Sound New York banks are not
in the least alan almed about the business
sd situation. npr have they any occasion
The industries are doing well. be-
cause they have enormous orders.
taken inT erhruary and March or
earlier. wsfch insure operations for
periods varying from fortnight to
several mSfiths. But the new orders
upon which they have to rely il partial
stcppage IF closing OF many works is
TO be prevented are just now restricted
by appre> 2psion about the money mar
ket andtt, Possibility of loans
In the ir{n business there are orders
for about 3.000 tons of structural work
held up byhuestions OF law: in Chicago
the large rtostoffice order is yet waiting
and the. Russian order for rails is still
pending, possibly because of financial
difficulties. While new business offered
i'm this line is still very heavy. the pro-
duction is so large that it may easily
be disastrously checked by persistent
restriction of the current demand. But
foreign orders for six large vessels are
pending In eastern ship yards, and
actual orders for cars alone cover 20. 600
tons of basic steel at Pittsburg. Angles
have been advanced 81 per ton. and
structural works are all crowded with
orders, while pipes are in heavy de-
mand.
The stagnation in wool is something
remarkable. the total sales at the three
chief markets having been only l.1S2. .l44
pounds, against 9.606.600 last year. and
in the first half of April only 3.3S5.O44
pounds. against 22.346.000 II year ago.
Manufacturers are still waiting. al
though somewhat encouraged by ii
rather better tone in the clothing trad"
of late. They have ample orders for the
present in most lines, though not in all.
Wheat rose 5la and held 2k cents for
the week. although Atlantic exports
for the week have been 3.045.021 bushels,
flour included, against S76,7l9 last year.
and Pact$c exports, S27.36S bushels.
against 2lE.056 last year. The total from
both COATS for two weeks Of April has
been I.319,l36 bushels, against 3,05I.4S2
last yeail The receipts from western
farms s pw some decrease for the
week blnkor two weeks are only about
900 bh~AeiS smaller than Il year ago.
Meanwhile IL is astonishing that re-
ceiptS of corn continue remarkably
heavy, for the week more than a mil
lion bushels larger than last year and
for two weeks more than l.630.00O
bushels, and the exports for the week
have been f.653, 031 bushels. against p
7OS.73N last year and for half Of April
$.l4G,6S1 bushels. against 6,O32. .0lJ last
year. Such extraordinary exports of
corn go far to show that the outward
movement Of wheat is by no means OF
speculative character, nor likely To
diminish speedily. The official report
shows that exports in March were l5.-
i59.575 bushels of wheat. -four included.
against 1901. .722 last year. and i'm nine
months from the principal ports l63.-
969.130 bushels. against l32,616,463 last
year. Meanwhile the exports Of corn in
the nine months have been 3.934
bushels. against 1876, ,634.23l last year.
The volume OF legitimate business is
CIorncus, and meanwhile failures are
remarkably small; for the week they
have been Pa in the United States.
against 20T last year. and lS in Canada.
against 30 last. wear.