The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1898-04-16
Prospects of War Present Some
HindranceS TO Business.
INDUSTRIES DOING WELL
ORDERS AHEAD FOR SEVERAL
MoNTHs To COME.
Enormous Production In Iron Trade
-stagnation In Wool Is Some
thing Remarkable-Buying of
Cotton Goods Hindered-Exports
of Wheat and Cotton.

New York, April 15.-R- G. Dun &
Co.'S weekly review Of trade tomor-
row viii say:
The meaning of congress regarding
Spain is not in doubt, but the form of
declaration at this hour is in question.
Preparations for war continue as if it
were inevitable. There is some hind
rance in business, and yet the volume
of payments through clearing houses
is still 1873 per cent larger than last
year. aud outside New York about %
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 emergencies and
may give the government valuable aid
by greater freedom in business.
Sound New York hanks are not in the
least alarmed about the business situa-
ton, nor have they any occasion for
alarm.
ALL DOING WE'LL.
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 q. fortnight to several
months. But the new orders upon
stoppage or closing of many works is
to be prevented, are just now restricted
by apprehensions about the money
market and the possibility of loans. In
the iron business there are orders for
about 10000 tons structural work held
up by questions of law; in Chicago the
large postoffice, order is yet waiting,
and the Russian order for rails is still
pending, possibly because of financial
hlrc fr,a in
line is stil1 very heavy. the production
is so large that it may easily be dis
astrously checked by a 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
10000 tons basic steel at Pittshmrg.
ton, and structural works are all
crowded with orders, while pipes are
in heavy demand.
WOOL AND COTTON GOODS.
With prices for print cloths still at
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
price. The stagnation in wool is some
thing remarkable, the total sales at the
three chief markets having been only
I, 1914 pounds against 9,606.60O last
year, and in the first half of April only
S,3S5,044 pounds, against %, 346,0 900
pounds a year ago. Manufacturers
are still waiting, although somewhat
encouraged by rather better tone in
the clothing trade of late. They have
lines, though not in all.
WHEAT.
Wheat rose 51s cents and held 21k
cents for the week although Atlantic
exports for the week have been $685.
021 bushels Giour included) against
S76,719 bushels last year, and Pacific
exports S27, 1863 bushels against 212.O5s
last year. The total from both coasts
for two weeks of April has been 1879
1856 bushels. against 3,057, 4S2 bushels
last year. The receipts from western
farms show some decrease for the
week. but for two weeks are only
about 100000 bushels smaller than
year ago. Meanwhile, it is astonishing
that receipts of corn continue remark
ably heavy. for the week more than
a million larger than last year, and for
two weeks more than 1.650,000 bushels,
and the exports for the week have
been 1853, OBJ bushels against 2,7OS, 73S
bushels last year.
Such extraordinary exports of corn
go far to show that the outward move
ment of wheat is by no means of
speculative character, nor likely to
diminish speedily. The official report
shows that exports in March were Is
459,575 bushels of wheat flour in
cluded) against 1901, 222 bushels last
year, and in nine months from the
principal ports $500, $50 bushels.
against 1872 $40. 1913 last year
Meanwhile, the exports of corn in the
nine months have been 1873, 905 1874
bushels against 1876, 634.231 last year.
The volume of legitimate business is
enormous, and meanwhile failures are
remarkably small for the week, they
have been 254 in the United States
against 207 last year; and Is in Can
ada against 80 last year.