Delaware gazette and state journal. (Wilmington, Del.) 1883-1902, 1898-04-21
EFFECT ON BUSINESS.
ACTUAL WAR WOULD NOT MAKE
TRADE ANY WORSE.

Uncertainty Is the Worst Faotor-Mer.
chants Would Soon Adjust Their Affairs
TO Opinions of Business Men
Eject on New York West Side Markets
In the minds Of many men war itself
could not make business worse than il
ia at present as result OF the uncer.
tainty. Trade is at n standstill. The
continual agitation of the Cuban ques
tion, the speeches in congress and the
resolutions introduced looking toward
the recognition Of Cuba independence
intervention ur war: the reports, veri
fed or not verified, concerning Presi
dent McKinley'sa attitude, the diplomat
10 correspondence between this country
and Spain and the active preparations
being made by the army and navy de-
partments, with many other incidents,
have combined to make an atmosphere
Of uncertainty as to the future that has
greatly affected trade in many branches.
In New York city, the Mecca for buy
ers from all over the United States the
number Of buyers arriving has fallen
from 100 day to 90, decrease of 40
per cent. OF course the volume of bust
ness transacted has also declined in q
marked degree. Spring stocks are in
hand, and manufactures and the large
wholesale houses are anxious to sell,
but until there is some certainty as to
the outcome of the present. information
al difficulty purchasers are shy.
Mills and manufacturers report or
ders for goods counternnnded. During
the past few days orders amounting to
many thousands of dollars have been
recalled, one firm alont reporting that
orders amounting to so, 900 had been
cancelled. These cancellations come part
ly from local customeis, but in many
instances from customets abroad whose
trade is affected by the so called "war
risks, +" the high insurance rates cutting
off all chance of profit. Prices, howev.
err, are fairly we'll maintained. Many
traders say that declaration of hostili-
ties would, in their Judgment, merely
cause temporary depression of bust
ness, ms it has been discounted, and that
very little effect upon prices would be
noted, while during the progress Of
war, il it should cone, trade would
gradually recover its formal condition.
1t is the general opinion of dry goods
commission merchants that war with
Spain in itself is unlikely to produce
more than temporary depression in
business. This will be seen in a suspen-
sion of all but urgent purchases and not
in any material change in prices. The
trade does not believe that many large
government contracts will be given out
for woolens and cotton goods, even
though war is declared.
In answer to an inquiry as to the ef-
feet upon the dry goods trade of decla-
ration of war, A. ID. Holmes says: "War
will interfere with the commercial body
much as does a short sickness with the
human body. It's natural functions will
be depressed for time and then will
come tke convalescence. The duration
of the latter will depend upon number
of factors, but the business community
is prepared for the worst and will soon
recover its full strength, as no one looks
for protracted struggle. "
The effect of the uncertainty has had
a noticeable effect on the west side mar.
kets. Merchants are buying from hand
to mouth and awaiting the outcome. II
is the general impression that as soon
as matters are settled, no matter wheth.
er a peaceful solution will be the result
or the contrary, business conditions will
Immediately improve. So far as can be
learned, the talk Of war has not infiu-
enced the price Of any article except in
directly, in that it has caused less actiy.
ity, and hence such articles as would
probably advance in price undes active
trading by reason Of the statistical pc.
sition remain unchanged.
The government has made some large
purchases of canned meats and vegeta.
bles and dried fruits. In the event q
hostilities more orders will be forth.
comi7g, and in all probability general
advance will be recorded. News comes
from Baltimore that canned pineapples
are higher there OF account of war talk,
as the raw material comes from the Ba.
hamas, which would be Within a short
distance of the storm center.
The drug trade is no exception to other
branches of mercantile affairs in the
matter of discussing the effect Of war
with Spain. Opinions Of representative
men naturally do not agree, but all arc
hopeful oban amicable settlement of ex.
listing differences, while hoping for
peace and preparing for war. A leading
chemical manufacturer thinks that COM
merce will not be hRinpered to any inn
portant extent, believing that the strug-
gle, if it comes, will be of short dura-
tion.
Another prominent member of the
trade firmly believes that although the
situation is serious the Spaniards will
carry on the bluff gRme and at the last,
II "called," will turn down their
hands and retire. The miscellaneous
markets, including metals. rubber. coal,
laval stores, oils, paints and colors,
building material, cordage and hemu
and jute fiber, have all more or less
suffered by the uncertain outcome Of
present International complications.
Metals havo been particularly dull, and
brokers and dealers complain bitterly.
--Washingtca Evening Star.