The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-04-23
FEAR OF HoSTILITIES
BELIEVED TO HAVE DEMORALIZED
WOOLEN GOODS INDUSTRY.
Cancelled Orders CurtailInE Manufac-
Bradstreets Reviews.

NEW YORK. April 22-Bradstreets re-
view Tomorrow will say: Bradstreet's re-
ports for some time past have not hest
tated to point out the unfavorable effects
of the prevailing uncertainty as to our
foreign relations upon the general business
OF the country. There has been some dis
position apparent of late however, to at
tribute considerably more to the fear of
impending hostilities than seems proper.
Reports have been given in the press Of a
large volurae of cancellations in different
lines of trade, all due, it is claimed to the
fear Of strained relations. Special and wide
spread inquiry fails to show anything like
the reported volume of cancellations in
different lines of trade at various cities,
with the sole exception of the wooden goods
industry, and even here the cause of the
depression. while primarily given as being
the disturbed condition of our foreign rela-
tions has been by some observers at
tributed, and, we believe to some extent,
properly. to the natural reaction following
the activity which was such feature of
wooden goods manufacturing one year ago.
These cancellations where reported are said
to have come chiefly from wholesale cloth
ing manufacturers, ana the percentage
given OF Cancelled orders has been placed as
high as 50 TO Is per cent. A number of mills,
however, are said to have shut down and
the evil of overstocklng is thought to have
been largely avertei. Careful inquiry,
while showing a considerable portion of the
cancellations to have been due to the pros
pect Of war, would indicate that fully so
per cent of them have been due to clothing
houses giving larger orders than they real
ly required, in the hope that the market
would continue to advance. AS the market.
however. has disappointed them the orders
have been simply Cancelled and the above
reasons have been assigned.
General trade and speculation this
week, have exhibited mos cf the
characteristics which have become pop
proach of hostilities. While there is re-
ported a further quoting OF distributive
traceabIe almost directly civ TO to anticipated
wariike conditions, there is a lack of regu-
larity, even in the reports from those GEN.
tiers, which serves to show that, now that
the uncertainty so long prevailing has been
dispelled, trade conditions are being shaped
TO the new order of things. There IS. conse-
quently, greatly increased activity in many
special lines, accompanied by excited mar
kets and price advances. While trade in the
with. this price movement, there is still
perceptibly good trade reported entirely
outside of this, which serves to prove that
the prospect of war has not had nearly as
much effect inland as IL has had on the
coast In commercial lines this week much
interest and activity has been manifested
in the speculative, and actual demand for
leading staples, such as wheat, corn, oats,
-four. coffee, sugar, most pork products and
cotton. A reflection OF this active demand,
which had it's rise, so far as wheat and cot
ton are concerned, among foreign buyers,
who wish to anticipate any possible inter-
7hptioh Of supplies, is found in the move
ment of prices. which, for the first time for
many weeks past shows general upward
tendency. The advance in coffee. sugar and
rice are directly traceable to war inf1u-
ences, marking, as they do, either desire
on the part OF domestic buyers to protect
themselves against any possible Interrupt
tion of supplies or the anticipated levying
OF taxation TO meet the increased OUTLAWS
of the government. Careful search among
the quotations for staple products fails to
reveal any important decline in prices out
billets at some markets.
The check to export trade at some ports,
notably at the South, is reflected in tempo
rariy smaller shipments of wheat, corn and
flour. The total shipments of wheat C1opr
included) this week aggregate 1928, 106 BUSH
els, against ASS, 1902 bushels last week.
1,654.6sS bushels in this week year ago.
1895 and 2,7Z7,000 bushels in 1894 Corn ex-
ports this week aggregate 3,463 900 bushels,
against 1866 600 bushels last week, 4,769 900
bushels in this week last year and 9S1 900
bushels in 1896
There were 224 business failures in the
United States this week. against 215 last
week. 216 in this week a year ago, 240 in 1896
minion of Canada for the week number fif-
teen. against twenty-seven last week, twen-
ty-two in this week a year ago, thirty
seven in 1886 and tnirty-two in 1895.