The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1902-05-03
CLOUD ON THE HORIZON
UNREST OF LABOR THE ONLY DIS
TURING BUSINESS FACTOR.
All OfIser Factors Are Favorable and
the Merchandise Movement Is
~Large-Bank CIearings report.

NEW YORK. May 2-R. G. Dun & Co.'S
weekly review OF trade tomorrow will say:
Two large strikes scheduled 10 begin on
May 1 were averted, at least temporarily,
and a number Of smaller ones were set
tied. but many new controversies have be-
gun. This labor factor is the only seriously
unfavorable one in the industrial situation.
exerting considerable Influence over the
volume OF transactions, and also tending
10 unsettle confidence. IN seasonable mer-
chandise, especially dry goods and cloth
ing. warmer weather has stimulated deal
ings, while outdoor work Is prosecuted
vigorously. Collections are more prompt,
as a rule. fewer extensions being asked.
Shipments are less delayed by traffic con-
gestions. and railway earnings thus far re-
ported for April exceed last years by y
per cent.
Consumers Of finished steel products are
compelled to place orders subject TO the
convenience OF manufacturers, and it is the
exception when any nearby deliveries are
promised. An unprecedented amount Of
railway work Is being done. while the cree
ton OF new buildings would be much more
extensive il material were available. Pig
iron has worked up TO a higher point, bes-
semer commanding so at Pittsburg on de-
liveries within six months, owing TO the
full contracts held by the furnaces. For
eign dealers have shown much wisdom by
making concessions in this market.
A better volume Of orders taken by New
England shoe shops is one of the most en-
couraging signs of the week. Slight con-
cessiOns were made on a few grades, but
the general level OF quotations is fairly well
maintained. JObbers are still slow TO place
foil ar1aru honfnU that hotter terms MAY
DE possible next month Steadiness in the
leather market does not tend 10 encourage
expectations Of cheaper shoes. however,
especially in view OF the hrmness OF domes-
tic hides, with another rise in imported
grades. Exports of leather continue larger
than a year ago.
Jobbers in dry goods have felt the effects
Of good weather, and a brisk trade has been
done at steady prices, although no general
advance has followed the rise In raw cotton
or the restricted operations at wooden mills.
Weak silver has continued to initiate
against exports TO China. Overtime work
at independent mills is partially neutraliz-
ing the effect of the weavers' strike.
Cereal prices have been less inflated by
speculation than they were last week. yet
a high level was maintained and only slight
reactions occurred. The general tenor OF
crop news was much more encouraging,
aside from Kansas dispatches, which indl-
cate that wheat needs moisture, although
corn and oats have good prospects. Good
foreign crop conditions were calculated to
weaken the tone, yet exports of wheat from
the United State, flour included, amounted
10 5,519.O37 busels. against 4.l32,35T a year
ago Recent attractive prices have brought
corn TO market more freely than IN pre-
ceding weeks, but receipts of 1,6o6.O5O busn-
els for the week fall far short of the 2.31S,-
54 in the same week last year. The com
parison as To Atlantic exports IS still more
striking. only 154. 704 bushels going out dur
ing the week. against ESQ, 211 a year ago.
Cotton continued advancing until there
waS a gain of $50 a bale over last years
figure. when a trifiing reaction occurred,
but the tone continued strong.
Failures IN the United States this week
were 22j, against PIP last week, and IL in
Canada. against is last week.