The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-04-30
NEW BUSINESS CHECKED
TRADE CONDITIONS SINCE BREAKING
OUT OF HoST1LITIEs.
Demand in Some Lines Heavy and
CIearings Show Increased Bank
TransactiOns-Dun<& Co.'s Report.

NEW YORK, April Or. G.. Dun & Co.'S
weekly review Of trade will say tomorrow:
HoStllltles have not as yet changed last
weeks conditions. There is much post
ponement of orders by men who do not
know what they are waiting for, and much
restriction of loans by banks which are
abundantly strong. All this checks new
business, and yet the volume of transac-
tons through clearing houses is larger
than in the same week Of 1892, with no for
eign trouble. This increase would be much
larger but for speculative stagnation here,
New York clearings being 81 per cent.
smaller than in 1892 Railroads are doing a
great business, 81 per cent larger than in
1892 in April earnings thus far and 1879 per
cent larger than last year.
Many have been asserting about every day
for the past two weeks that the wheat
speculation has eliminated. but the price
has in that time advanced 2l1a cents, SA
cents within the past week. Receipts of
2746,950 bushels at the West this week,
against 1,552S75 a year ago, and averaging
10000 bushels per week for January, Feb
ruary and March, show no exhaustion of
supplies, while exports amounting to 3,704,-
67o bushels from Atlantic ports, against
643,1lS last year and 7S6,O78 from Pacific
ports, against 1854 last year, -four in
cluded in all cases, makes exports for the
four weeks 120S3, 76S bushels from Atlantic
and 1885, 900 bushels from Pacific ports, and
for the crop year thus far 1870 661 67S bushels,
against 127, 1864 bushels during the same
months and weeks of last year. Corn ex-
ports for the. week were S.77S,2S0 bushels.
against 3,020,N6 last year, and for four
weeks have been II, 266, 681 bushels, against
10 200 w bushels last year. This makes
about Isl 100000 bushels for the crop year
foreign demand
has ever been known, and it does not yet
seem to be satiated. Confusing accounts
about the great industries cannot fail to
cause surprise in view of the contradictory
influence of monetary Stringency curtaillhg
many orders, heavy orders by government
in many branches, and all-pervading con-
hdence that after temporary conditions
have passed business is going to be better
Government is buying many uniforms and
great Quantities Of sunplies cloths shoes
copper wire and iron for vessels, and arm
ament and the purchasing of many ships
compels building of other vessels. Banking
cautlon at the same time, is stopping work
in some iron and wooden mills. Yet conf
dence as to future business causes refusal
OF very many contracts for long time, the
holding of wool above its current manufac-
ture values and a marked rise in hides. The
consumption of iron IS still the greatest
ever known, though many structural and
car contracts have been deferred. The week
has witnessed Eastern inquiries for plate at
ton, with refusal Of bids by implement
makers at Chicago for bar iron because
nlSuSI pI1CSS III the IuIuIO are 6Ap6CL0Q, ana
Eastern buying of bars from Chicago for
car building. with a shade lower prices at
Pittsburg for Bessemer pig, because the as
sociated producers hold to agreed prices,
although middlemen are selling at lower
figures. In spite of agreement by foundry
men and forge producers, the price of grey
forge at Pittsburg slightly declines. Con-
siderable orders for steel rails for export
have been received during the week. With
but two or three structural orders Of con-
sequence, the works are fully employed for
months to come
The cotton manufacture has been helped
by some government contracts little bet
ter outside demand and the temporary ad-
vance in raw cotton to 6.44c, although the
price has since declined again to 637c.
Supplies have been larger in some pre-
vious years than they are now, and yet are
enormous, and the demand for goods is still
hindered by the great stocks in sight or re-
ported Wooden manufactures are doing
rather better large government orders help
ing some works, while other demands are
more encouraging Sales of wool are about
a sixth of last years for April. half of
those of 1896 and third of the sales of 1892,
though Eastern buyers are weak, but coun-
try holders are sticking for higher prices.
Failures for the week have been 262 in the
United States, against 237 last year, and
sixteen in Canada, against forty last year.