The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1898-04-16
some slight CHECK
To Business on War Account
is Acknowledged.
BUT BANKS FEEL SAFE
Industries are Doing Well and
Failures are Fewer.


review Of trade tomorrow will 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 hindrance
in business and yet the volume Of pay
ments through clearing houses is still 1873
per cent larger than last year, and, out
side New York, about % per cent larger
than in 1898, though speculative stagna-
ton here makes the aggregate lower. New
York banks may now realize that they
are strong enough for all possible emer-
gencies and may give the government val
liable aid by greater freedom in business
loans Sound New York banks are not
in the least alarmed about the business
situation, nor have they any occasion for
alarm.
The industries are doing well, because
they have enormous orders, taken in Feb
ruary and March or earlier, which insure
prosperity for a period varying from
fortnight to several months. But the new
orders, upon which they have to rely If
partial stoppage or closing Of many works
Is to- be prevented, are just now restrict
ed by apprehension 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
postoffce order is yet waiting and the
Russian order for rails is still pending,
possibly because of financial difficulties.
While new business in this line is still
very heavy, the production is so large that
il may easily be disastrously checked by
persistent restriction of the current de-
mand. But foreign orders for six large
vessels are pending in eastern shpyards,
and actual orders for cars alone cover
10000 tons basic steel at Pittsburg. Angles
have been advanced 81 per ton and struc-
tural works are all crowded with orders,
while pipes are in heavy demand.
With prices for print cloths still at the
lowest point ever touched. buying of cot
ton goods is more hindered than many
are willing to admit, by the idea that
Other goods, not equally Over-produced.
may likewise decline in price. The stag
nation in wool is something remarkable,
The total sales at the three chief markets
having beeG only 1,S22, IA pounds, against
a6e6,600 last year, and in the first half
Of April only S,3S5,0H pounds, against o.
$4,000 a year ago. Manufacturers are
still waiting, although somewhat encour-
aged by a rather better tone in the cloth
Ing trade of late. They have ample orders
for the present in most lines, though not
In all. Wheat rose SIC and held 215c for
the week, although Atlantic exports for
the week have been 3.345 241 bushels, flour
included, against S76.719 last year, and Pa
cific exports S27,36S bushels, against ,O56
last year. The total from both coasts for
two weeks Of April has been 1899, 1876 bush
els, against 9.0574S2 Iasr year. The re-
ceipts from western farms show some de-
crease for the week, but for two weeks
are only about 100000 bushels smaller than
n year ago. Meanwhile. it is astonishing
that receipts OF corn continue remarkably
heavy, for the week more than a million
bushels larger than last year. and for
two weeks, more than 1850 900 bushels and
the exports for the week have been .653.-
031 bushels. against 2,70S 73S last year. and
for half Of April S146,6S1 against 6. 1908. $50
bushels last year. Such extraordinary re-
ports of corn go far to show that the out
ward movement of wheat is by no means
of a speculative character, nor fikely to
diminish speedily. The official report
shows that exports in March were Il. 49,
575 bushels OF wheat, -four included.
against 1901 722 last year, and in nine
months from the principal ports 16S. 800 $50
bushels. against 1872 sc, 462 last year
Meanwhile the exports of corn in the
nine months have been 1SS. 905, 934 bushels
against 125 ga 231 last wear
The volume of legitimate business is
enormous and meanwhile failures are re-
markaby small. For the week they have
been 25l in the United States against 2O7
last year and IS in Canada, against so
last year.
BRADSTREET'S
New York, April l5.-Bradstreet's to-
morrow Will say:
The effect of the prevailing uncertainty
In foreign affairs is reflected in a further
perceptible quoting down of general